1625 Superior Shrs Unit 75B · Two Harbors, MN 55616

$49,900

1 bd · 1.0 ba · 864 sqft · Condo · 44 Days on market

Built 1993 Good condition $58/sqft · 61% above area $85/mo HOA · 8% of rent

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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
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Interval ownership of a one-bedroom, one bath lakehome at Superior Shores Resort. This single level unit features a whirlpool, two fireplaces, king bed, large deck with a walk-off stairway and one of the best views on the property - sitting on the tip of the point in Building 7. Housekeeping, laundry and maintenance services provided by management company. All exterior maintenance services provided by property manager. Enjoy six plus weeks each year on the North Shore without the hassle of mowing, shoveling, painting, cleaning, etc. This property situated on 46 wooded acres with over a half-mile of shoreline can be yours. Resort amenities include hiking trails, tennis courts and seasonal o

Key facts

• Large deck
• Lakehome
• Whirlpool

Tags

• LAKEHOME
• WHIRLPOOL
• LARGE DECK
• WOODED ACRES
• HIKING TRAILS
• TENNIS COURTS

Property features AI

Finance

• Other: Located about one mile NE of Two Harbors on Highway 61; turn onto Superior Shores Drive
• HOA & community: Homeowners association with a monthly fee of $85.42; HOA covers snow removal, trash, water, sewer, insurance, and grounds maintenance

Exterior

• Parking: No designated parking
• Utilities: Well water; Public sewer and shared septic
• Home design: Residential condominium; Single-story
• Construction: Approximately 864 square feet above grade
• Exterior features: Asphalt shingle roof; On waterfront (Lake Superior); Therapeutic whirlpool; Irregular lot dimensions

Interior

• Bedrooms: Master bedroom located downstairs
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating (electric)
• Interior features: Primary bedroom on the main level; Two gas fireplaces

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 2.6% in Two Harbors — 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 81/100 on livability (#62 in MN, #1,444 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• 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.
• Zoned schools: Minnehaha Elementary (math 47% / reading 52%, grade D, #423 of 857 statewide, top 55%, 382 students, 44% FRL) — zoned schools average 44% FRL vs 23% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 86 active listings in the ZIP; 81 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lake County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.24% ✓
• Cap rate: 17.18%
• Cash-on-cash: 38.89%
• DSCR: 2.73
• GRM: 3.7

CMA / ARV

• ARV (median comp): $31,051
• List price: $49,900
• Delta: 60.71%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.2%
• Equity multiple: 2.49×
• Total profit: $20,821
• Equity at exit: $7,440

10-year hold

• IRR: 42.0%
• Equity multiple: 4.98×
• Total profit: $55,546
• Equity at exit: $4,314

Cash invested: $13,972 (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 55616

• Active inventory: 86
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,117 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$85
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $453

Break-even live

Break-even rent $544

Max offer price $49,900

Occupancy floor 54%

Sensitivity live

Price	-10% $487	-5% $470	+0% $453	+5% $436	+10% $418
Rent	-10% $365	-5% $409	+0% $453	+5% $497	+10% $541
Rate	-1.0pp $478	-0.5pp $465	base $453	+0.5pp $440	+1.0pp $427

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $85 · $1,020/yr
• Likely covers: exterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $49,900 Active 44 DOM
2. 2026-06-18
   days on market $49,900 Active 41 DOM
3. 2026-06-17
   days on market $49,900 Active 40 DOM
4. 2026-06-16
   days on market $49,900 Active 39 DOM
5. 2026-06-15
   days on market $49,900 Active 38 DOM
6. 2026-06-14
   days on market $49,900 Active 36 DOM
7. 2026-06-13
   days on market $49,900 Active 35 DOM
8. 2026-06-10
   days on market $49,900 Active 33 DOM
9. 2026-06-09
   days on market $49,900 Active 32 DOM
10. 2026-06-08
    days on market $49,900 Active 31 DOM
11. 2026-06-07
    days on market $49,900 Active 30 DOM
12. 2026-06-02
    days on market $49,900 Active 25 DOM
13. 2026-06-01
    days on market $49,900 Active 24 DOM
14. 2026-05-31
    days on market $49,900 Active 23 DOM
15. 2026-05-30
    days on market $49,900 Active 22 DOM
16. 2026-05-08
    listed $49,900 Active 862-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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,407
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − HOA: −$1,020
• − Depreciation: −$1,452
• Taxable income: $4,997
• Est. tax owed @ 24.0%: −$1,199
• After-tax cash flow: $4,234/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 · 13 photos

Good 75/100 Cosmetic rehab

This one-bedroom, one-bath lakehome at Superior Shores Resort is in good condition with a good condition score of 75. It has a good roof, exterior, and foundation. The property is situated on a wooded lot with a view of the water. The home has minor repairs needed in the kitchen and bathroom, and routine maintenance items such as painting and window cleaning are recommended. The highest-ROI updates that would raise its resale or rental value are painting and landscaping.

Repairs flagged

• Minor Kitchen cabinets — Standard cabinetry with no visible signs of major damage or wear.
• Minor Bathroom fixtures — Standard fixtures with no visible signs of major damage or wear.

Value-add opportunities

• Resale Painting — Fresh paint can make a significant difference in the home's appearance and value.
• Rental Landscaping — Well-maintained landscaping can attract more renters and increase rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Standard cabinetry with no visible signs of major damage or wear.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures with no visible signs of major damage or wear.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Painting — Fresh paint can make a significant difference in the home's appearance and value. ↑
• Rental Landscaping — Well-maintained landscaping can attract more renters and increase rental 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: 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 — Two Harbors

• Score: 81/100
• State rank: #62
• US rank: #1444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,277

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 18% Scottish 4% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -116.94%
• Current HPI: 182.619
• 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

1 event — show timeline

• 2026-05-08 Listed $49,900 LSAR