115 Apache St NW Unit B · Princeton, MN 55371

$79,900

3 bd · 2.0 ba · 1,232 sqft · SingleFamily · 145 Days on market

Built 2003 Fair condition $65/sqft · 35% below area Est $123k · 35% under

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Why this score? — see what drove the B+ 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).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy easy one-level living in this conveniently located 3-bedroom, 2 full bathroom home in Sherburne Village. The exterior offers maintenance-free vinyl siding, a covered front deck, and an additional side entry deck. Inside, you’ll find new carpet and fresh paint throughout, creating a clean and comfortable living space. The kitchen features a center island and opens to the dining area with a patio door leading to space for a future deck. The spacious living room provides plenty of room for everyday living or entertaining. The primary bedroom includes double closets and a full bathroom. A storage shed in the yard adds extra storage space. Lot rent is $650 per month and includes water, sewer, garbage, and recycling, offering a simple and affordable living option in a convenient location.

Key facts

• Patio door
• Side entry deck
• Storage shed

Tags

• MAINTENANCE-FREE VINYL SIDING
• COVERED FRONT DECK
• SIDE ENTRY DECK
• CENTER ISLAND
• PATIO DOOR
• STORAGE SHED

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$122,874) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 3.4% in Princeton — 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 68/100 on livability (#404 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D+, employment D, amenities F.
• Princeton Public School District (town): math 41% / reading 53% proficiency, ranked #141 of 301 in MN (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 116 active listings in the ZIP; solid renter incomes; 334 units permitted in Sherburne County in 2024 (58 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 2.23% ✓
• Cap rate: 20.06%
• Cash-on-cash: 49.16%
• DSCR: 3.19
• GRM: 3.7

CMA / ARV

• ARV (median comp): $122,874
• List price: $79,900
• Delta: -34.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 46.8%
• Equity multiple: 3.03×
• Total profit: $45,415
• Equity at exit: $11,913

10-year hold

• IRR: 52.5%
• Equity multiple: 6.13×
• Total profit: $114,666
• Equity at exit: $6,908

Cash invested: $22,372 (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 55371

• Home prices YoY: -5.4%
• Active inventory: 116
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,780 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $917

Break-even live

Break-even rent $620

Max offer price $79,900

Occupancy floor 44%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $79,900 Active 145 DOM
2. 2026-06-17
   days on market $79,900 Active 144 DOM
3. 2026-06-16
   days on market $79,900 Active 143 DOM
4. 2026-06-15
   days on market $79,900 Active 142 DOM
5. 2026-06-13
   days on market $79,900 Active 140 DOM
6. 2026-06-13
   days on market $79,900 Active 139 DOM
7. 2026-06-09
   days on market $79,900 Active 136 DOM
8. 2026-06-08
   days on market $79,900 Active 135 DOM
9. 2026-06-07
   pricedays on market $79,900 Active 134 DOM
10. 2026-06-04
    days on market $90,000 Active 131 DOM
11. 2026-06-03
    days on market $90,000 Active 130 DOM
12. 2026-06-02
    days on market $90,000 Active 129 DOM
13. 2026-06-01
    days on market $90,000 Active 128 DOM
14. 2026-05-31
    days on market $90,000 Active 127 DOM
15. 2026-05-01
    status Active 805-char remark

    Show marketing remark (805 chars)

    Enjoy easy one-level living in this conveniently located 3-bedroom, 2 full bathroom home in Sherburne Village. The exterior offers maintenance-free vinyl siding, a covered front deck, and an additional side entry deck. Inside, you’ll find new carpet and fresh paint throughout, creating a clean and comfortable living space. The kitchen features a center island and opens to the dining area with a patio door leading to space for a future deck. The spacious living room provides plenty of room for everyday living or entertaining. The primary bedroom includes double closets and a full bathroom. A storage shed in the yard adds extra storage space. Lot rent is $650 per month and includes water, sewer, garbage, and recycling, offering a simple and affordable living option in a convenient location.

16. 2026-04-25
    historical 805-char remark

    Show marketing remark (805 chars)

    Enjoy easy one-level living in this conveniently located 3-bedroom, 2 full bathroom home in Sherburne Village. The exterior offers maintenance-free vinyl siding, a covered front deck, and an additional side entry deck. Inside, you’ll find new carpet and fresh paint throughout, creating a clean and comfortable living space. The kitchen features a center island and opens to the dining area with a patio door leading to space for a future deck. The spacious living room provides plenty of room for everyday living or entertaining. The primary bedroom includes double closets and a full bathroom. A storage shed in the yard adds extra storage space. Lot rent is $650 per month and includes water, sewer, garbage, and recycling, offering a simple and affordable living option in a convenient location.

17. 2026-01-16
    listed $90,000 Active 805-char remark

    Show marketing remark (805 chars)

    Enjoy easy one-level living in this conveniently located 3-bedroom, 2 full bathroom home in Sherburne Village. The exterior offers maintenance-free vinyl siding, a covered front deck, and an additional side entry deck. Inside, you’ll find new carpet and fresh paint throughout, creating a clean and comfortable living space. The kitchen features a center island and opens to the dining area with a patio door leading to space for a future deck. The spacious living room provides plenty of room for everyday living or entertaining. The primary bedroom includes double closets and a full bathroom. A storage shed in the yard adds extra storage space. Lot rent is $650 per month and includes water, sewer, garbage, and recycling, offering a simple and affordable living option in a convenient location.

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $673 · $56/mo
• Expected delta: +$221/yr (+$18/mo · 49.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,364
• − Mortgage interest: −$4,476
• − Property taxes: −$452
• − Insurance: −$400
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$2,324
• Taxable income: $10,295
• Est. tax owed @ 24.0%: −$2,471
• After-tax cash flow: $8,528/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to update the kitchen and exterior, improving its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen appliances — outdated and in need of replacement
• Minor bathroom fixtures — standard fixtures

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value
• Both paint exterior — fresh paint would improve curb appeal and value
• Both landscaping — improved landscaping would enhance curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would improve both resale and rental value ↑
• Both paint exterior — fresh paint would improve curb appeal and value ↑
• Both landscaping — improved landscaping would enhance curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Princeton Public School District
• NCES district ID: 2730030
• Math proficiency: 41% ▼ -19.00%
• Reading proficiency: 53% ▼ -11.00%
• Median HH income: $61,277
• Composite: 41.33/100
• National rank: #3504
• State rank: #141 of 301 in MN

Livability — Princeton

• Score: 68/100
• State rank: #404
• US rank: #9444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, MN
• County: Sherburne County · 120,363 people
• City population: 18,103
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 18,103
• Household income: $93,824
• Rent vs Own: 15.1% rent · 84.9% own
• Severe rent burden: 273.0

Population outlook (Sherburne County) Hauer SSP2

• Today (2025): 97,402 people
• By 2030: 99,341 · +2.0%
• By 2040: 101,188 · +3.9%
• By 2050: 99,214 · +1.9%
• By 2075: 88,700 · -8.9%
• By 2100: 72,241 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 12% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Sherburne

• 2024 margin: Solid R (+34.9) · D 31.7% · R 66.6% · Other 1.7%
• 2008→2024 swing: -16.7pp toward R · 2008: -18.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+32.6 2016: R+37.0 2012: R+22.1 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.20%
• Current HPI: 336.1604
• Rent YoY: —
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

3 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-16 Listed $90,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2025): $452 · +2.7% YoY. Source: county tax records.