2060 Swedish Dr NE · Ham Lake, MN 55304

$239,900

4 bd · 2.0 ba · 1,050 sqft · SingleFamily public records · 1 Days on market

Built 1972 0.72 ac lot

---

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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a Fixer Upper in the Ham Lake area? This property is the one! It's on a large corner lot, with a gorgeous view looking out the front. This is a 4 bedroom two bath that needs work but has so much potential. It's a split entry with 3 bedrooms upstairs and a larger lower level bedroom. The large 4 season porch is the best room in the house. It is being SOLD AS IS. * * * The Septic is Non Compliant * * * Bring your ideas to make this a wonderful place to call home.

Key facts

• Large corner lot
• 4 season porch
• Split entry

Tags

• LARGE CORNER LOT
• SPLIT ENTRY
• 4 SEASON PORCH

Property features AI

Finance

• Financial info: Conventional financing indicated

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Private water source; Private sewer; Natural gas fuel
• Home design: Residential property; Split entry (bi-level) layout; Entry/main living on main level
• Construction: Block construction; Foundation: block; Roof replaced or less than 8 years old; Built/finished areas include above-grade and below-grade finished space
• Exterior features: Chain link fencing; Corner lot; City street frontage; Lot dimensions approximately 108x99x233x89

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms total; Main level bedrooms: two approximately 10x10 and 10x9; Lower level bedroom: 13x14; Additional bedroom listed (10x9 on main)
• Bathrooms: One full bath on the main level; One three-quarter bath in the basement
• Heating & cooling: Forced air heating; Wall-mounted cooling unit(s)
• Interior features: Eat-in kitchen; Deck (20x10, main level); Porch (10x19, main level); Unfinished space in lower level (12x19); Family room (22x17, lower level); Living room (14x17, main level); Dining room (11x11, main level)
• Laundry & utility: Washer; Dryer; Laundry room in basement (9x31)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Cap rate 8.7% vs local median 2.9% in Ham Lake — 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 69/100 on livability (#358 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 392 active listings in the ZIP; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $239,900

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• GRM: 7.7

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: -3.3%
• Equity multiple: 0.88×
• Total profit: $-8,225
• Equity at exit: $35,770

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $32,247
• Equity at exit: $20,742

Cash invested: $67,172 (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 55304

• Active inventory: 392
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,586 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$203 /mo · $2,440/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $482

Break-even live

Break-even rent $1,976

Max offer price $239,900

Occupancy floor 76%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   remarks 482-char remark
2. 2026-06-17
   remarks 437-char remark
3. 2026-06-17
   listed $239,900 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: $2,440 · $203/mo
• Projected year-2 tax: $2,564 · $214/mo
• Expected delta: +$123/yr (+$10/mo · 5.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,032
• − Mortgage interest: −$13,438
• − Property taxes: −$2,440
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,483
• − Management: −$2,483
• − Depreciation: −$6,979
• Taxable income: $2,010
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $5,296/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Ham Lake

• Score: 69/100
• State rank: #358
• US rank: #8400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ham Lake, MN
• City population: 49,452
• Population (ZIP): 49,452

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 3% Black 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Asian/Pacific 2% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -267.68%
• Current HPI: 242.7122
• 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

• 2026-06-17 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2026): $2,440 · +9.9% YoY. Source: county tax records.