10304 107th Pl N

Maple Grove, MN 55369

$295,000C-

3 bd · 1.0 ba · 1,954 sqft · Built 1979 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,653/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$533
• HOA: −$0
• Vac / Maint / Mgmt: −$557
• Net cashflow: $16/mo
• Annual: $189/yr
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• 1% rule: 0.90%
• Cash to close: $82,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $16 ($189/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 $265k (10.1% below list).
• It's been on market 37 days — a 3% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (10.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#54 in MN, #1,353 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D, cost of living D.
• Osseo Public School District (suburban): math 42% / reading 51% proficiency, ranked #129 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elm Creek Elementary (math 52% / reading 47%, grade D, #423 of 857 statewide, top 55%, 521 students, 41% FRL); Osseo Middle School (math 42% / reading 52%, grade D+, #97 of 258 statewide, top 39%, 1,155 students, 41% FRL); Osseo Senior High (math 26% / reading 58%, grade F, #222 of 471 statewide, top 50%, 2,280 students, 55% FRL).
• Market conditions: Rents rising (+2.3%/yr); 387 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 4,651 units permitted in Hennepin County in 2024 (2,443 in 5+ unit buildings).
• Hennepin County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $65k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $295k implies a 372% gain — meaningful room to come down on a strong offer.
• Cap rate 6.4% vs local median 3.4% in Maple Grove — 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.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.
• 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.
• 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.