35308 Vacation Dr #23 · Ideal, MN 56472

$86,000

3 bd · 4.0 ba · 2,166 sqft · Townhouse · 23 Days on market

Built 2008 12 ac lot $350/mo HOA · 27% of rent ↓ 1% since listing

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Why this score? — see what drove the C- 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 +17.6/30.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

Key facts

• $350 HOA
• Pool
• Built 2008

Property features AI

Finance

• Other: Property listed as part of a managed community with shared amenities and waterfront access
• HOA & community: Part of Westport Properties association; Annual association fee of $4,200; Association amenities include beach, dock, cable TV, internet, air conditioning, electricity, gas, hazard insurance, heating, lawn care, grounds maintenance, parking, professional management, recreation facilities, shared amenities, and snow removal; Shared clubhouse and play area; association access to lakefront

Exterior

• Parking: Assigned parking plus guest parking in a parking lot
• Utilities: Well water (4-inch submersible, drilled, shared system); Shared septic system (tank with drainage field, septic compliant); 100 amp electrical service; Electric and natural gas fuel options
• Home design: Residential attached property; Two levels; Main-level living area (1,325 finished on main level); Panoramic/lakefront orientation
• Construction: Shingled roof (age over 8 years); Foundation described as other with foundation dimensions 31x48x31x44; Above-grade finished area 2,166 total square feet; Built with wood exterior materials
• Exterior features: Patio; In-ground sprinkler; Wood exterior; Below-ground pool; Dock and beach access via association; Panoramic lakefront setting

Interior

• Kitchen: Kitchen with center island; Range; Microwave; Dishwasher
• Bedrooms: Primary bedroom on main level; Two upper-level bedrooms (17x12 and 18x12)
• Flooring: Hardwood floors
• Bathrooms: Main floor 3/4 bath; Upper level full bath; Ensuite bathroom; Additional half bath
• Heating & cooling: Forced air heating; Fireplace heat source (gas fireplace in living room); Central air conditioning
• Interior features: Vaulted ceilings; Natural woodwork; Panoramic view; Sun room / Four-season porch; Informal dining area; All living facilities on one level option; Main floor bedroom; Main floor laundry; Air-to-air exchanger; Washer and dryer hookups; Walk-in closet
• Laundry & utility: Main level laundry room (15x8); Washer and dryer included in appliance list

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath townhouse listed at $86k.

Deal economics

• At list price, monthly cash flow is $67 ($809/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $85k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pequot Lakes Public Schools (rural): math 40% / reading 57% proficiency, ranked #137 of 301 in MN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 272 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $52k; list at $86k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $84,710 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.49% ✓
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 5.6

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: -10.7%
• Equity multiple: 0.61×
• Total profit: $-9,408
• Equity at exit: $12,823

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-1,711
• Equity at exit: $7,436

Cash invested: $24,080 (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 56472

• Home prices YoY: -10.7%
• Active inventory: 272
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,281 medium
• Mortgage (P&I): −$451
• Tax est. 1.5%: −$108 /mo · $1,290/yr
• Insurance: −$36
• HOA: −$350
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $67

Break-even live

Break-even rent $1,195

Max offer price $86,000

Occupancy floor 90%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: landscaping

Listing history 26 events

1. 2026-06-18
   days on market $86,000 Active 23 DOM
2. 2026-06-17
   days on market $86,000 Active 22 DOM
3. 2026-06-16
   days on market $86,000 Active 21 DOM
4. 2026-06-15
   days on market $86,000 Active 20 DOM
5. 2026-06-13
   days on market $86,000 Active 18 DOM
6. 2026-06-12
   days on market $86,000 Active 17 DOM
7. 2026-06-09
   days on market $86,000 Active 14 DOM
8. 2026-06-08
   days on market $86,000 Active 13 DOM
9. 2026-06-07
   days on market $86,000 Active 12 DOM
10. 2026-06-07
    days on market $86,000 Active 11 DOM
11. 2026-06-04
    days on market $86,000 Active 8 DOM
12. 2026-06-02
    days on market $86,000 Active 7 DOM
13. 2026-06-01
    days on market $86,000 Active 6 DOM
14. 2026-05-31
    days on market $86,000 Active 5 DOM
15. 2026-05-31
    days on market $86,000 Active 4 DOM
16. 2026-05-26
    status Active
17. 2025-10-08
    historical
18. 2025-09-28
    listed $86,000
19. 2025-05-16
    status Pending 809-char remark

    Show marketing remark (809 chars)

    Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

20. 2025-05-16
    soldstatus $52,500 Sold 809-char remark

    Show marketing remark (809 chars)

    Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

21. 2025-04-25
    historical Contingent - Other 809-char remark

    Show marketing remark (809 chars)

    Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

22. 2025-04-18
    price $52,500 809-char remark

    Show marketing remark (809 chars)

    Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

23. 2025-04-11
    listed $60,000 Active 809-char remark

    Show marketing remark (809 chars)

    Welcome to maintenance free vacation time at Clamshell Beach Resort on the Whitefish Chain! Well maintained Kayak Unit comes fully furnished and includes Share 6 (5 weeks of use per year and 1/10th ownership)! Beautifully maintained 3+ Bedroom / 4 Bath lake home with great room area for entertaining plus four season porch. Upper level bunk room provides plenty of sleeping space for guests! Manicured grounds with sport court, play area, fish cleaning house and of course the beautiful sand beach are included in outdoor spaces to enjoy time at the lake. Close proximity to golf courses, restaurants, shopping and all the Brainerd Lakes Area - Whitefish Chain has to offer. If you cannot use a week, rent it through the association/management company. Start making lake life memories on the Whitefish Chain!

24. 2025-03-15
    historical
25. 2024-10-07
    listed $86,000 Active
26. 2024-03-15
    listed $87,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,368
• − Mortgage interest: −$4,817
• − Property taxes: −$1,290
• − Insurance: −$430
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − HOA: −$4,200
• − Depreciation: −$2,502
• Taxable loss: −$330
• Est. tax savings @ 24.0%: +$79
• After-tax cash flow: $888/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: Pequot Lakes Public Schools
• NCES district ID: 2728200
• Math proficiency: 40% ▼ -24.00%
• Reading proficiency: 57% ▼ -13.00%
• Median HH income: $51,513
• Composite: 41.62/100
• National rank: #3430
• State rank: #137 of 301 in MN

Livability — Ideal

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

Census & demographics

• Population (ZIP): 8,764

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 17% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.90%
• Current HPI: 208.0163
• 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

-1.1% since first listed

11 events — show timeline

• 2026-05-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-28 Listed $86,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-16 Sold (MLS) $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-18 Price Changed $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-11 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-07 Listed $86,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-15 Listed $87,000 NORTHSTARMLS as Distributed by MLS Grid