10810 Ottawa Trl · Breezy Point, MN 56472

$439,900

4 bd · 3.0 ba · 2,784 sqft · SingleFamily public records · 4 Days on market

Built 2002 2.08 ac lot

---

Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this great opportunity!! Outside this property features a large deck perfect for entertaining, nice wooded view, tar driveway and tar road access, beautiful gardens/landscaping and fire pit!! Inside features 4BR/2BA, a living with vaulted ceilings and gas fireplace, large 16x20 sun room with a lot of natural daylight and tongue and groove walls and ceiling, kitchen with ample cabinet space and breakfast bar, stainless steel appliances, lower level family room, nice foyer entry, utility/laundry room in the lower level and a massive 24x40 garage that will accommodate 4 vehicles. Additional amenties include hardwood floors, tiled floor in the family room, 6 panel doors, Birch cabinets, tiled back spalsh in the kitchen, tongue and groove ceiling and great storage space in the utility room and under the foyer entry. Located just minutes from Pequot Lakes/Breezy Point/Crosslake and Pelican Lake/Ossawinnamakee/Whitefish Chain Of Lakes!! Make it your today!!

Key facts

• Open floor plan
• Utility room
• In-floor heat

Tags

• OPEN FLOOR PLAN
• GAS FIREPLACE
• SUNROOM
• HARDWOOD FLOORS
• IN-FLOOR HEAT
• UTILITY ROOM

Property features AI

Finance

• Other: Property includes additional parcels; Approximately 2.08-acre lot

Exterior

• Parking: Attached, heated and insulated garage; 4-car garage (approx. 24x40)
• Utilities: Well water; Private sewer with tank and drainage field; Natural gas
• Home design: Residential property; Split entry (bi-level) design; Entry/main living on main level
• Construction: Block foundation; Asphalt pitched roof (age 8 years or less)
• Exterior features: Composite decking and deck; Tree coverage - heavy; Sun room

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen/Dining area
• Bedrooms: 4 bedrooms (bedroom locations: main and lower levels)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom (basement); One three-quarter bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning; Fireplace heating option
• Interior features: Ceiling fans; French doors; Hardwood floors; Kitchen window; Natural woodwork; Paneled doors; Sun room; Tile floors; Vaulted ceilings; Water softener (owned); Finished full basement; Fireplace (gas, in living room)
• Laundry & utility: Washer and dryer hookups; Laundry located in basement; Utility room in lower level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $440k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (63.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (67.8% below list).
• Recommended offer: $142k (67.8% below list) — sets the bar for 1% rule.
• Cap rate 2.0% vs local median 1.1% in Breezy Point — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#330 in MN) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Pequot Lakes Public Schools (rural): math 40% / reading 57% proficiency, ranked #137 of 301 in MN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 272 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $245k; list at $440k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $141,516 (67.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.32% ✗
• Cap rate: 2.00%
• Cash-on-cash: -15.35%
• DSCR: 0.32
• GRM: 25.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -46.0%
• Equity multiple: -0.39×
• Total profit: $-171,810
• Equity at exit: $65,591

10-year hold

• IRR: -86.3%
• Equity multiple: -1.27×
• Total profit: $-279,587
• Equity at exit: $38,035

Cash invested: $123,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 56472

• Home prices YoY: -10.7%
• Active inventory: 272
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$203 /mo · $2,438/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-1,575

Break-even live

Break-even rent $3,409

Max offer price $161,605

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $109,975
• Closing costs: $13,197
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-23
   status Pending
2. 2026-05-20
   historical Contingent - Inspection
3. 2026-05-18
   listed $439,900 Active
4. 2020-06-08
   soldstatus $245,000
5. 2020-05-04
   soldstatus $245,000 Sold 982-char remark

   Show marketing remark (982 chars)

   Don't miss out on this great opportunity!! Outside this property features a large deck perfect for entertaining, nice wooded view, tar driveway and tar road access, beautiful gardens/landscaping and fire pit!! Inside features 4BR/2BA, a living with vaulted ceilings and gas fireplace, large 16x20 sun room with a lot of natural daylight and tongue and groove walls and ceiling, kitchen with ample cabinet space and breakfast bar, stainless steel appliances, lower level family room, nice foyer entry, utility/laundry room in the lower level and a massive 24x40 garage that will accommodate 4 vehicles. Additional amenties include hardwood floors, tiled floor in the family room, 6 panel doors, Birch cabinets, tiled back spalsh in the kitchen, tongue and groove ceiling and great storage space in the utility room and under the foyer entry. Located just minutes from Pequot Lakes/Breezy Point/Crosslake and Pelican Lake/Ossawinnamakee/Whitefish Chain Of Lakes!! Make it your today!!

6. 2020-03-06
   status Pending 982-char remark

   Show marketing remark (982 chars)

   Don't miss out on this great opportunity!! Outside this property features a large deck perfect for entertaining, nice wooded view, tar driveway and tar road access, beautiful gardens/landscaping and fire pit!! Inside features 4BR/2BA, a living with vaulted ceilings and gas fireplace, large 16x20 sun room with a lot of natural daylight and tongue and groove walls and ceiling, kitchen with ample cabinet space and breakfast bar, stainless steel appliances, lower level family room, nice foyer entry, utility/laundry room in the lower level and a massive 24x40 garage that will accommodate 4 vehicles. Additional amenties include hardwood floors, tiled floor in the family room, 6 panel doors, Birch cabinets, tiled back spalsh in the kitchen, tongue and groove ceiling and great storage space in the utility room and under the foyer entry. Located just minutes from Pequot Lakes/Breezy Point/Crosslake and Pelican Lake/Ossawinnamakee/Whitefish Chain Of Lakes!! Make it your today!!

7. 2020-02-21
   historical Contingent - Inspection 982-char remark

   Show marketing remark (982 chars)

   Don't miss out on this great opportunity!! Outside this property features a large deck perfect for entertaining, nice wooded view, tar driveway and tar road access, beautiful gardens/landscaping and fire pit!! Inside features 4BR/2BA, a living with vaulted ceilings and gas fireplace, large 16x20 sun room with a lot of natural daylight and tongue and groove walls and ceiling, kitchen with ample cabinet space and breakfast bar, stainless steel appliances, lower level family room, nice foyer entry, utility/laundry room in the lower level and a massive 24x40 garage that will accommodate 4 vehicles. Additional amenties include hardwood floors, tiled floor in the family room, 6 panel doors, Birch cabinets, tiled back spalsh in the kitchen, tongue and groove ceiling and great storage space in the utility room and under the foyer entry. Located just minutes from Pequot Lakes/Breezy Point/Crosslake and Pelican Lake/Ossawinnamakee/Whitefish Chain Of Lakes!! Make it your today!!

8. 2020-02-10
   listed $250,000 Active 982-char remark

   Show marketing remark (982 chars)

   Don't miss out on this great opportunity!! Outside this property features a large deck perfect for entertaining, nice wooded view, tar driveway and tar road access, beautiful gardens/landscaping and fire pit!! Inside features 4BR/2BA, a living with vaulted ceilings and gas fireplace, large 16x20 sun room with a lot of natural daylight and tongue and groove walls and ceiling, kitchen with ample cabinet space and breakfast bar, stainless steel appliances, lower level family room, nice foyer entry, utility/laundry room in the lower level and a massive 24x40 garage that will accommodate 4 vehicles. Additional amenties include hardwood floors, tiled floor in the family room, 6 panel doors, Birch cabinets, tiled back spalsh in the kitchen, tongue and groove ceiling and great storage space in the utility room and under the foyer entry. Located just minutes from Pequot Lakes/Breezy Point/Crosslake and Pelican Lake/Ossawinnamakee/Whitefish Chain Of Lakes!! Make it your today!!

9. 2015-05-14
   soldstatus $194,750 Sold 169-char remark

   Show marketing remark (169 chars)

   Come and see this well built affordable home in Breezy Point. Private wooded lot in a nice neighborhood. Beautiful year round sun room and deck to enjoy the north woods.

10. 2015-05-14
    soldstatus $194,750

    Show marketing remark (169 chars)

    Come and see this well built affordable home in Breezy Point. Private wooded lot in a nice neighborhood. Beautiful year round sun room and deck to enjoy the north woods.

11. 2015-03-12
    status Pending 169-char remark

    Show marketing remark (169 chars)

    Come and see this well built affordable home in Breezy Point. Private wooded lot in a nice neighborhood. Beautiful year round sun room and deck to enjoy the north woods.

12. 2015-03-06
    historical Contingent - Inspection 169-char remark

    Show marketing remark (169 chars)

    Come and see this well built affordable home in Breezy Point. Private wooded lot in a nice neighborhood. Beautiful year round sun room and deck to enjoy the north woods.

13. 2015-01-09
    listed $197,500 Active 169-char remark

    Show marketing remark (169 chars)

    Come and see this well built affordable home in Breezy Point. Private wooded lot in a nice neighborhood. Beautiful year round sun room and deck to enjoy the north woods.

14. 2014-12-31
    historical
15. 2014-10-06
    price $197,500
16. 2014-06-13
    price $199,900
17. 2014-05-21
    listed $209,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $2,438 · $203/mo
• Projected year-2 tax: $3,682 · $307/mo
• Expected delta: +$1,244/yr (+$104/mo · 51.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,982
• − Mortgage interest: −$24,641
• − Property taxes: −$2,438
• − Insurance: −$2,200
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$12,797
• Taxable loss: −$27,811
• Est. tax savings @ 24.0%: +$6,675
• After-tax cash flow: $-12,230/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pequot Lakes Public Schools
• NCES district ID: 2728200
• Math proficiency: 40% ▼ -24.00%
• Reading proficiency: 57% ▼ -13.00%
• Median HH income: $51,513
• Composite: 41.62/100
• National rank: #3430
• State rank: #137 of 301 in MN

Livability — Breezy Point

• Score: 70/100
• State rank: #330
• US rank: #7469

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment B+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Breezy Point, MN
• Population (ZIP): 8,764

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 17% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.90%
• Current HPI: 208.0163
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+109.6% since first listed

17 events — show timeline

• 2026-05-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Listed $439,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-08 Sold (Public Records) $245,000 Public Records
• 2020-05-04 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-10 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-14 Sold (Public Records) $194,750 Public Records
• 2015-05-14 Sold (MLS) $194,750 NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-01-09 Listed $197,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-06 Price Changed $197,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-13 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-21 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $2,438 · -7.4% YoY. Source: county tax records.