6624 Mackenzie Ave NE · Otsego, MN 55301

$459,900

4 bd · 3.0 ba · 2,257 sqft · SingleFamily public records · 4 Days on market

Built 2006 0.61 ac lot

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

****HIGHEST AND BEST DUE SUNDAY, 5/16 by 5pm**** Absolutely stunning home with beautiful finishes and custom woodwork throughout! The grand 2-story foyer opens to a dedicated home office and flex/dining room. Crown molding throughout home adds to the grand feel of this well-maintained home. Coffered living room ceiling and custom fireplace mantle and surround are truly exquisite. Updated SS appliances, large kitchen island, and plenty of cabinet and storage space. Separate laundry and mud-space off the kitchen. Upper level boasts 4 bedrooms including an oversized private owner's suite with updated private bath. Full lookout lower level is yours for finishing however you would like. Private backyard with gardens and park-like setting overlooks pond. Enjoy the peace and quiet while watching the ducks and birds from your paver patio. Gorgeous landscaping! A nature lover's paradise!

Key facts

• Recent updates
• Private backyard
• Pond views

Tags

• PRIVATE BACKYARD
• POND VIEWS
• RECENT UPDATES
• NEW COMPOSITE DECK
• FINISHED AND INSULATED GARAGE
• UNFINISHED LOWER LEVEL

Property features AI

Finance

• Other: Above grade finished living area and total living area reported; Above grade finished area and total living area provided

Exterior

• Parking: Attached garage; 3-car garage (approx. 30x22, 640 sq ft); Asphalt driveway
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential property; Two levels; Entry includes foyer; Facing direction not provided
• Construction: Asphalt roof; Block foundation
• Exterior features: Deck; Patio; Porch; Stone and vinyl exterior; Pond on the property; City street frontage

Interior

• Kitchen: Kitchen with center island; Range; Microwave; Dishwasher; Refrigerator; Disposal; Exhaust fan
• Bedrooms: 4 bedrooms total; Primary bedroom with private full bath and walk-in shower stall (upper level); Upper-level bedrooms: three additional bedrooms (dimensions vary)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms; 1 half bathroom on main floor; Primary bath includes separate tub and shower; private primary bath and walk-in shower stall
• Heating & cooling: Forced air heating; Central air conditioning; Air-to-air exchanger
• Interior features: Vaulted ceilings; Paneled doors; Primary bedroom with walk-in closet; Walk-in closet; Hardwood floors; Water softener (owned); Daylight/lookout windows in basement; Full basement; Fireplace in the living room; Breakfast area / Eat-in kitchen / Informal dining and separate formal dining room; 3 bedrooms on one level options noted, main floor laundry noted
• Laundry & utility: Washer and dryer included; Main floor laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $460k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $436k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $360k (21.7% below list).
• Recommended offer: $360k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.0% in Otsego — 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 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 142 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 33% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $360,141 (21.7% 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 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?
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: 0.78% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.29%
• DSCR: 0.94
• GRM: 10.6

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: -18.4%
• Equity multiple: 0.35×
• Total profit: $-83,385
• Equity at exit: $68,573

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-84,203
• Equity at exit: $39,764

Cash invested: $128,772 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 142
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,601 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$380 /mo · $4,558/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $-138

Break-even live

Break-even rent $3,776

Max offer price $435,502

Occupancy floor 99%

Sensitivity live

Price	-10% $122	-5% $-8	+0% $-138	+5% $-268	+10% $-398
Rent	-10% $-423	-5% $-280	+0% $-138	+5% $4	+10% $146
Rate	-1.0pp $93	-0.5pp $-21	base $-138	+0.5pp $-257	+1.0pp $-379

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: $114,975
• Closing costs: $13,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11193 68th St NE Unit NA Albertville, MN	3.0	3.0	2644	$3,250	$1.23	0d	1	0.93mi
7535 Lannon Ave NE Albertville, MN	5.0	3.0	2209	$3,179	$1.44	0d	1	0.97mi

Listing history 4 events

1. 2026-06-21
   days on market $459,900 Active 4 DOM
2. 2026-06-18
   status $459,900 Active 1 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $459,900 Coming Soon 1 DOM

ⓘ 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: $4,558 · $380/mo
• Projected year-2 tax: $4,854 · $405/mo
• Expected delta: +$296/yr (+$25/mo · 6.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,217
• − Mortgage interest: −$25,762
• − Property taxes: −$4,558
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,457
• − Management: −$3,457
• − Depreciation: −$13,379
• Taxable loss: −$9,696
• Est. tax savings @ 24.0%: +$2,327
• After-tax cash flow: $670/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• 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

+5.7% since first listed

7 events — show timeline

• 2026-06-16 Coming Soon $459,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-20 Sold (Public Records) $435,000 Public Records
• 2021-07-02 Sold (MLS) $435,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-14 Listed $435,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-13 Coming Soon $435,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $4,558 · -6.4% YoY. Source: county tax records.