38265 Wildlife Rd

Barry, MN 55037

$125,000C-

2 bd · 1.0 ba · 672 sqft · Built 2003 · Manufactured · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,075/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $84/mo
• Annual: $1,013/yr
• Cap rate: 7.10%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• 1% rule: 0.86%
• Cash to close: $35,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $125k.
• 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).
• It's been on market 15 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (14.0% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• 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).
• 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.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.