12572 Naples St NE Unit C · Blaine, MN 55449

$335,000

2 bd · 3.0 ba · 1,703 sqft · Townhouse public records · 18 Days on market

Built 2014 1,960 sqft lot $247/mo HOA · 9% of rent

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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 +8.6/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect balance of sophisticated design and maintenance-free living. Designed to offer the scale and privacy of a single-family home, this property stands out with its soaring high ceilings and updated, contemporary finishes throughout. The main level is an entertainer’s dream, featuring an open-concept layout and an abundance of oversized windows that bathe the home in natural light. For those seeking a quiet escape, the private patio located directly off the dining area, provides a serene outdoor retreat to enjoy at the end of the day. The upper level is thoughtfully configured with three spacious bedrooms, including a primary with a luxurious ensuite bathroom equipped

Key facts

• Private patio
• Multiple parks
• Oversized windows

Tags

• PRIVATE PATIO
• OPEN-CONCEPT LAYOUT
• OVERSIZED WINDOWS
• PRIME BLAINE LOCATION
• MULTIPLE PARKS

Property features AI

Finance

• Other: Association provides in-ground sprinkler system amenity
• Financial info: Conventional financing available
• HOA & community: Has HOA (Gaughan Association Management); Monthly HOA fee; HOA covers hazard insurance, lawn care, ground maintenance, professional management, and snow removal; Association-maintained roads

Exterior

• Parking: Attached garage with automatic opener; Two-car garage (approx. 19 x 18)
• Security: Not specified
• Utilities: City water; City sewer; Natural gas
• Home design: Residential attached property; Two levels; Slab foundation; Primary bedroom suite; 3 bedrooms on one level (upper); Main-floor half bath
• Construction: Frame construction; Roof age 8 years or less
• Exterior features: Vinyl exterior; Patio; Partial wood privacy fencing; Light tree coverage; In-ground sprinkler system (association amenity)

Interior

• Kitchen: Dishwasher; Disposal; Freezer; Microwave; Range; Refrigerator; Kitchen center island; Eat-in kitchen layout
• Bedrooms: Three bedrooms (primary suite included); Upper-level bedrooms
• Flooring: Not specified
• Bathrooms: Two full bathrooms; One half bathroom on main floor; Separate tub and shower in primary bath
• Heating & cooling: Forced air heating; Fireplace (gas) in living room; Central air conditioning
• Interior features: Ceiling fans; Indoor sprinkler system; Vaulted ceiling; Primary bedroom with private ensuite and double sink; Eat-in kitchen / informal dining area; Kitchen island; Walk-in closet(s); Water softener (owned); Humidifier; No basement
• Laundry & utility: Upper-level laundry room with washer hookup; Washer and dryer included (washer hookup and dryer listed); Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath townhouse listed at $335k.

Deal economics

• At list price, monthly cash flow is $-288 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (19.4% below list).
• Recommended offer: $270k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.0% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Johnsville Elementary (math 52% / reading 58%, grade C, #310 of 857 statewide, top 37%, 674 students, 44% FRL); Roosevelt Middle (math 46% / reading 61%, grade C+, #51 of 258 statewide, top 20%, 809 students, 30% FRL); Blaine High School (math 46% / reading 67%, grade C, #77 of 471 statewide, top 17%, 2,969 students, 37% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 3 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 $253k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $270,103 (19.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.81% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.27×
• Total profit: $-68,622
• Equity at exit: $49,950

10-year hold

• IRR: -11.0%
• Equity multiple: 0.29×
• Total profit: $-66,430
• Equity at exit: $28,965

Cash invested: $93,800 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,701 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$279 /mo · $3,344/yr
• Insurance: −$140
• HOA: −$247
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-288

Break-even live

Break-even rent $3,066

Max offer price $284,082

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-193	+0% $-288	+5% $-383	+10% $-478
Rent	-10% $-502	-5% $-395	+0% $-288	+5% $-182	+10% $-75
Rate	-1.0pp $-120	-0.5pp $-203	base $-288	+0.5pp $-375	+1.0pp $-463

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2445 120th Cir NE Blaine, MN	2.0–4.0	2.5–3.5	1894	$2,795	$1.48	0d	18	0.72mi
12283 Ghia Ct NE Unit B Minneapolis, MN	3.0	2.5	1909	$2,940	$1.54	45d	1	1.21mi
2444 120th Ln NE Blaine, MN	3.0	2.5	1858	$3,345	$1.80	0d	1	1.23mi
12210 Urbank St NE Unit B Blaine, MN	2.0	1.5	1632	$2,295	$1.41	0d	1	1.35mi

HOA detail

• Monthly dues: $247 · $2,964/yr

Listing history 9 events

1. 2026-05-12
   status Pending
2. 2026-05-01
   historical Contingent - Inspection
3. 2026-04-24
   listed $335,000 Active
4. 2026-04-24
   historical
5. 2026-03-27
   listed $335,000 Active
6. 2026-03-23
   historical
7. 2018-06-04
   soldstatus $253,000
8. 2014-11-24
   historical
9. 2014-11-21
   listed $203,258 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: $3,344 · $279/mo
• Projected year-2 tax: $3,548 · $296/mo
• Expected delta: +$204/yr (+$17/mo · 6.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 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: $32,412
• − Mortgage interest: −$18,765
• − Property taxes: −$3,344
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,593
• − Management: −$2,593
• − HOA: −$2,964
• − Depreciation: −$9,745
• Taxable loss: −$9,268
• Est. tax savings @ 24.0%: +$2,224
• After-tax cash flow: $-1,235/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+64.8% since first listed

9 events — show timeline

• 2026-05-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-23 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-04 Sold (Public Records) $253,000 Public Records
• 2014-11-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-21 Listed $203,258 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+29.6%/yr

Latest (2026): $3,344 · +4.4% YoY. Source: county tax records.