98 Arbor St · Waite Park, MN 56301

$65,900

2 bd · 2.0 ba · 1,056 sqft · Manufactured · 27 Days on market

Built 2026 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained 2-bedroom, 2-bathroom home offers a comfortable and functional layout designed for everyday living. The home features an open-concept living area that connects the living room, dining space, and kitchen, creating a natural flow throughout. The primary bedroom includes a private full bathroom, providing added privacy and convenience. A second bedroom and full bathroom are located on the opposite side of the home, offering flexibility for guests, household members, or workspace needs. The kitchen provides ample workspace, with room for dining nearby. Large windows throughout the home allow for natural light, creating a bright and welcoming environment. Additional features

Key facts

• City bus stops
• Clubhouse
• Onsite playground

Tags

• ONSITE PLAYGROUND
• FENCED-IN STORAGE AREA
• STORM SHELTERS
• CITY BUS STOPS
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $66k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $65k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 4.2% in Waite Park — 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 80/100 on livability (#83 in MN, #1,944 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, employment D, schools F.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 218 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Recommended offer $64,911 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 2.06% ✓
• Cap rate: 17.48%
• Cash-on-cash: 39.96%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 2.57×
• Total profit: $28,998
• Equity at exit: $9,826

10-year hold

• IRR: 43.6%
• Equity multiple: 5.22×
• Total profit: $77,879
• Equity at exit: $5,698

Cash invested: $18,452 (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 56301

• Rents YoY: 3.4%
• Active inventory: 218
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,354 medium
• Mortgage (P&I): −$346
• Tax est. 1.5%: −$82 /mo · $988/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $614

Break-even live

Break-even rent $576

Max offer price $65,900

Occupancy floor 50%

Sensitivity live

Price	-10% $660	-5% $637	+0% $614	+5% $592	+10% $569
Rent	-10% $507	-5% $561	+0% $614	+5% $668	+10% $721
Rate	-1.0pp $648	-0.5pp $631	base $614	+0.5pp $597	+1.0pp $580

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: $16,475
• Closing costs: $1,977
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
57 Arbor St Unit 57AR St Cloud, MN	3.0	2.0	1056	$1,259	$1.19	44d	1	0.04mi
94 Belmar St Unit 94BEL St Cloud, MN	3.0	2.0	1088	$1,449	$1.33	44d	1	0.09mi
47 Claremont St Unit 47CMT St Cloud, MN	3.0	2.0	1216	$1,439	$1.18	44d	1	0.12mi

Listing history 11 events

1. 2026-06-10
   days on market $65,900 Active 27 DOM
2. 2026-06-09
   days on market $65,900 Active 26 DOM
3. 2026-06-08
   days on market $65,900 Active 25 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   days on market $65,900 Active 24 DOM
6. 2026-06-03
   days on market $65,900 Active 20 DOM
7. 2026-06-02
   days on market $65,900 Active 19 DOM
8. 2026-06-01
   days on market $65,900 Active 18 DOM
9. 2026-05-31
   days on market $65,900 Active 17 DOM
10. 2026-05-30
    days on market $65,900 Active 16 DOM
11. 2026-05-14
    listed $65,900 Active 496-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,252
• − Mortgage interest: −$3,691
• − Property taxes: −$988
• − Insurance: −$330
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$1,917
• Taxable income: $6,725
• Est. tax owed @ 24.0%: −$1,614
• After-tax cash flow: $5,760/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 · 16 photos

Good 80/100 Cosmetic rehab

This manufactured home is in excellent condition with recent updates, making it move-in ready and highly marketable.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Install smart home devices — Improves home's marketability and adds value
• Both Add smart thermostat — Enhances comfort and energy efficiency
• Both Install smart locks — Enhances security and convenience

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Install smart home devices — Improves home's marketability and adds value ↑
• Both Add smart thermostat — Enhances comfort and energy efficiency ↑
• Both Install smart locks — Enhances security and convenience ↑

ⓘ 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: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — Waite Park

• Score: 80/100
• State rank: #83
• US rank: #1944

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waite Park, MN
• County: Stearns County · 90,226 people
• City population: 7,756
• Metro: St. Cloud, MN
• Population (ZIP): 35,580
• Household income: $73,142
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1831.0

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 20% Hispanic / Latino 6% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Portuguese 6% Romanian 4% Lithuanian 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 4% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.70%
• Current HPI: 148.6882
• Rent YoY: ▲ 3.38%
• Metro: St. Cloud, MN
• 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