9724 Highway 1 · Stony River, MN 55607

$114,900

3 bd · 1.0 ba · 1,020 sqft · SingleFamily · 373 Days on market

Built 1950 Fair condition 0.52 ac lot $113/sqft · 75% below area ↓ 43% since listing

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Why this score? — see what drove the D+ 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 +15.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Welcome to 9724 Hwy 1, in the beautiful Northwoods of Isabella. This Cozy 3 bedroom 1 bathroom retreat is situated in close proximity to many lakes, 4-wheeling, snowmobiling trails. You can enjoy a nice evening warming up by the woodstove or have a campfire in the yard. Two decks to enjoy the Great Outdoors. There is a Bonus one room Cabin that is heated with a wood stove and has a window ac unit for those warmer days. This property has extra storage sheds, a wood shed and a Outdoor smoker to smoke your meats. This property Has been well loved, Call today for your showing.

Key facts

• Wood shed
• Bonus one room cabin
• Extra storage sheds

Tags

• TWO DECKS
• BONUS ONE ROOM CABIN
• EXTRA STORAGE SHEDS
• WOOD SHED
• OUTDOOR SMOKER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $39 ($473/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (8.2% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lake Superior Public School District (rural): math 34% / reading 53% proficiency, ranked #191 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 81 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($794 loan paydown + $745 appreciation (0.7% local appreciation)).
• Lake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 373 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $40k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 373 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.47%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (median comp): $455,147
• List price: $114,900
• Delta: -74.76%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

0.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.08×
• Total profit: $2,712
• Equity at exit: $37,137

10-year hold

• IRR: 6.6%
• Equity multiple: 1.77×
• Total profit: $24,853
• Equity at exit: $47,776

Cash invested: $32,172 (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 55607

• Home prices YoY: 0.6%
• Active inventory: 13
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,055 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $39

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 91%

Sensitivity live

Price	-10% $119	-5% $79	+0% $39	+5% $0	+10% $-40
Rent	-10% $-44	-5% $-2	+0% $39	+5% $81	+10% $123
Rate	-1.0pp $97	-0.5pp $69	base $39	+0.5pp $10	+1.0pp $-21

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $114,900 Active 373 DOM
2. 2026-06-17
   days on market $114,900 Active 372 DOM
3. 2026-06-16
   days on market $114,900 Active 371 DOM
4. 2026-06-15
   days on market $114,900 Active 370 DOM
5. 2026-06-14
   days on market $114,900 Active 368 DOM
6. 2026-06-13
   days on market $114,900 Active 367 DOM
7. 2026-06-10
   days on market $114,900 Active 365 DOM
8. 2026-06-09
   days on market $114,900 Active 364 DOM
9. 2026-06-08
   days on market $114,900 Active 363 DOM
10. 2026-06-07
    pricedays on market $114,900 Active 362 DOM
11. 2026-06-02
    days on market $124,900 Active 357 DOM
12. 2026-06-01
    days on market $124,900 Active 356 DOM
13. 2026-05-31
    days on market $124,900 Active 355 DOM
14. 2026-05-30
    days on market $124,900 Active 354 DOM
15. 2026-05-02
    price $124,900 579-char remark

    Show marketing remark (579 chars)

    Welcome to 9724 Hwy 1, in the beautiful Northwoods of Isabella. This Cozy 3 bedroom 1 bathroom retreat is situated in close proximity to many lakes, 4-wheeling, snowmobiling trails. You can enjoy a nice evening warming up by the woodstove or have a campfire in the yard. Two decks to enjoy the Great Outdoors. There is a Bonus one room Cabin that is heated with a wood stove and has a window ac unit for those warmer days. This property has extra storage sheds, a wood shed and a Outdoor smoker to smoke your meats. This property Has been well loved, Call today for your showing.

16. 2025-08-06
    price $134,000 579-char remark

    Show marketing remark (579 chars)

    Welcome to 9724 Hwy 1, in the beautiful Northwoods of Isabella. This Cozy 3 bedroom 1 bathroom retreat is situated in close proximity to many lakes, 4-wheeling, snowmobiling trails. You can enjoy a nice evening warming up by the woodstove or have a campfire in the yard. Two decks to enjoy the Great Outdoors. There is a Bonus one room Cabin that is heated with a wood stove and has a window ac unit for those warmer days. This property has extra storage sheds, a wood shed and a Outdoor smoker to smoke your meats. This property Has been well loved, Call today for your showing.

17. 2025-07-11
    price $149,000 579-char remark

    Show marketing remark (579 chars)

    Welcome to 9724 Hwy 1, in the beautiful Northwoods of Isabella. This Cozy 3 bedroom 1 bathroom retreat is situated in close proximity to many lakes, 4-wheeling, snowmobiling trails. You can enjoy a nice evening warming up by the woodstove or have a campfire in the yard. Two decks to enjoy the Great Outdoors. There is a Bonus one room Cabin that is heated with a wood stove and has a window ac unit for those warmer days. This property has extra storage sheds, a wood shed and a Outdoor smoker to smoke your meats. This property Has been well loved, Call today for your showing.

18. 2025-06-10
    listed $155,000 Active 579-char remark

    Show marketing remark (579 chars)

    Welcome to 9724 Hwy 1, in the beautiful Northwoods of Isabella. This Cozy 3 bedroom 1 bathroom retreat is situated in close proximity to many lakes, 4-wheeling, snowmobiling trails. You can enjoy a nice evening warming up by the woodstove or have a campfire in the yard. Two decks to enjoy the Great Outdoors. There is a Bonus one room Cabin that is heated with a wood stove and has a window ac unit for those warmer days. This property has extra storage sheds, a wood shed and a Outdoor smoker to smoke your meats. This property Has been well loved, Call today for your showing.

19. 2024-06-21
    historical
20. 2024-04-10
    listed $149,900 Active
21. 2024-04-06
    historical
22. 2024-03-28
    historical
23. 2024-03-04
    listed $169,900 Active
24. 2024-03-04
    historical
25. 2023-10-30
    price $179,900
26. 2023-10-16
    price $189,500
27. 2023-09-07
    price $199,900
28. 2023-07-24
    listed $219,500 Active

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,660
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$3,343
• Taxable loss: −$1,442
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $819/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 property requires moderate renovations to update the kitchen and bathroom, and paint the interior walls. It has average exterior and landscaping, but the location and amenities make it a good investment.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — outdated and in need of replacement
• Minor wooden deck — slight wear

Value-add opportunities

• Resale update kitchen cabinets and appliances — modernizing the kitchen
• Resale update bathroom fixtures and flooring — modernizing the bathroom
• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both update flooring in living areas — enhances curb appeal and interior aesthetics

Renovation cost estimate screening

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

Value-add ROI direction

• Resale update kitchen cabinets and appliances — modernizing the kitchen ↑
• Resale update bathroom fixtures and flooring — modernizing the bathroom ↑
• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both update flooring in living areas — enhances curb appeal and interior aesthetics ↑

ⓘ 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: Lake Superior Public School District
• NCES district ID: 2740740
• Math proficiency: 34% ▼ -24.00%
• Reading proficiency: 53% ▼ -9.00%
• Median HH income: $51,958
• Composite: 37.51/100
• National rank: #4399
• State rank: #191 of 301 in MN

Livability — Stony River

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 213

Population outlook (Lake County) Hauer SSP2

• Today (2025): 9,943 people
• By 2030: 9,437 · -5.1%
• By 2040: 8,326 · -16.3%
• By 2050: 7,365 · -25.9%
• By 2075: 6,008 · -39.6%
• By 2100: 5,038 · -49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Native American 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 3% Portuguese 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Lake

• 2024 margin: Toss-up / Even · D 51.0% · R 47.1% · Other 1.9%
• 2008→2024 swing: -18.2pp toward R · 2008: 22.1pp · 2024: 3.9pp
• All cycles: 2024: D+3.9 2020: D+3.5 2016: D+2.2 2012: D+21.1 2008: D+22.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.65%
• Current HPI: 107.1689
• 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

-43.1% since first listed

14 events — show timeline

• 2026-05-02 Price Changed $124,900 LSAR
• 2025-08-06 Price Changed $134,000 LSAR
• 2025-07-11 Price Changed $149,000 LSAR
• 2025-06-10 Listed $155,000 LSAR
• 2024-06-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-10 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-06 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-04 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-30 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-16 Price Changed $189,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-07 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-24 Listed $219,500 NORTHSTARMLS as Distributed by MLS Grid