38265 Wildlife Rd · Barry, MN 55037

$125,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 15 Days on market

Built 2003 5.00 ac lot

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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 +17.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

The listing features five acres of beautiful, virgin wooded land, with the exception of the cleared home site. Situated on the property is a fully furnished single-wide mobile home and a 12x24 two-story gambrel-roofed storage building equipped with electricity and a 100 amp breaker box. Additionally, the property includes a remote walking only easement to an off-branch of the Kettle River. Please note that the septic system has been inspected and is fully compliant.

Key facts

• Virgin wooded land
• Cleared home site
• Five acres

Tags

• FIVE ACRES
• VIRGIN WOODED LAND
• CLEARED HOME SITE
• FULLY FURNISHED MOBILE HOME
• TWO-STORY STORAGE BUILDING
• EQUIPPED WITH ELECTRICITY

Property features AI

Finance

• Financial info: Property free and clear (no mortgage)

Exterior

• Parking: Gravel parking
• Utilities: Drilled well (water); 100 Amp electric service; Mound septic (compliant); Propane fuel
• Home design: Manufactured home; One level; On waterfront with deeded riverfront access; No road between home and waterfront
• Construction: Pillar/post/pier and slab foundation; Roof older than 8 years
• Exterior features: Vinyl exterior; Storage shed; Accessible shoreline; Heavy tree coverage

Interior

• Kitchen: Kitchen with window; Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Fireplace heating; Window air conditioning units
• Interior features: All living facilities on one level; Eat-in kitchen; Main floor full bath; Brick wood-burning fireplace with circulating feature
• Laundry & utility: Washer and dryer included; Washer/Dryer hookup; Laundry located in hall; Electric water heater; Fuel tank (rented)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/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 $107k (14.0% below list).
• Recommended offer: $107k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#593 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D, employment D.
• Hinckley-Finlayson School District (rural): math 20% / reading 35% proficiency, ranked #272 of 301 in MN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 51 active listings in the ZIP; 116 units permitted in Pine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Pine County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $107,453 (14.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
3. 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.
4. 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.
5. 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: 0.86% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 3.10×
• Total profit: $73,412
• Equity at exit: $112,610

10-year hold

• IRR: 23.1%
• Equity multiple: 7.05×
• Total profit: $211,867
• Equity at exit: $242,848

Cash invested: $35,000 (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 55037

• Home prices YoY: 12.4%
• Active inventory: 51
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $84

Break-even live

Break-even rent $968

Max offer price $125,000

Occupancy floor 87%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-17
   status $125,000 Pending 15 DOM
2. 2026-06-17
   days on market $125,000 Contingent - Inspection 15 DOM
3. 2026-06-16
   days on market $125,000 Contingent - Inspection 14 DOM
4. 2026-06-15
   days on market $125,000 Contingent - Inspection 13 DOM
5. 2026-06-13
   days on market $125,000 Contingent - Inspection 11 DOM
6. 2026-06-12
   days on market $125,000 Contingent - Inspection 10 DOM
7. 2026-06-09
   statusdays on market $125,000 Contingent - Inspection 7 DOM
8. 2026-06-08
   days on market $125,000 Active 6 DOM
9. 2026-06-07
   days on market $125,000 Active 5 DOM
10. 2026-06-07
    days on market $125,000 Active 4 DOM
11. 2026-06-03
    remarks 470-char remark
12. 2026-06-03
    listed $125,000 Active 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: $682 · $57/mo
• Projected year-2 tax: $1,041 · $87/mo
• Expected delta: +$359/yr (+$30/mo · 52.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥97°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: $12,894
• − Mortgage interest: −$7,002
• − Property taxes: −$682
• − Insurance: −$625
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$3,636
• Taxable loss: −$1,114
• Est. tax savings @ 24.0%: +$267
• After-tax cash flow: $1,281/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: Hinckley-Finlayson School District
• NCES district ID: 2714070
• Math proficiency: 20% ▼ -13.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $40,836
• Composite: 23.2/100
• National rank: #7942
• State rank: #272 of 301 in MN

Livability — Barry

• Score: 64/100
• State rank: #593
• US rank: #14231

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 4
• Population (ZIP): 5,077

Population outlook (Pine County) Hauer SSP2

• Today (2025): 27,565 people
• By 2030: 26,567 · -3.6%
• By 2040: 23,878 · -13.4%
• By 2050: 20,931 · -24.1%
• By 2075: 15,372 · -44.2%
• By 2100: 11,032 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Native American 7% Hispanic / Latino 4%
• Common ancestry: Portuguese 8% Romanian 4% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Pine

• 2024 margin: Solid R (+35.2) · D 31.6% · R 66.8% · Other 1.6%
• 2008→2024 swing: -36.7pp toward R · 2008: 1.5pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+30.2 2016: R+26.3 2012: R+0.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.68%
• Current HPI: 251.5378
• 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

• 2026-06-02 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $682 · +74.9% YoY. Source: county tax records.