160 Lake Ave N · Balaton, MN 56115

$195,000

4 bd · 3.0 ba · 1,650 sqft · SingleFamily · 6 Days on market

Built 1977 0.48 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks MLS

Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

Key facts

• 0.48 acre lot
• 2 garage spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-237 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (21.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (24.1% below list).
• Recommended offer: $148k (24.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#477 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Zoned schools: Tracy Elementary (math 57% / reading 57%, grade C+, #265 of 857 statewide, top 35%, 327 students, 56% FRL); Tracy Secondary (math 42% / reading 57%, grade D, #143 of 471 statewide, top 33%, 330 students, 50% FRL).
• Market conditions: 52 active listings in the ZIP; 91 units permitted in Lyon County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Lyon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 $152k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,041 (24.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.00%
• DSCR: 0.82
• GRM: 11.0

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: 20.6%
• Equity multiple: 2.67×
• Total profit: $91,143
• Equity at exit: $175,671

10-year hold

• IRR: 18.7%
• Equity multiple: 6.14×
• Total profit: $280,406
• Equity at exit: $378,842

Cash invested: $54,600 (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 56115

• Home prices YoY: 11.5%
• Active inventory: 52
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$248 /mo · $2,970/yr
• Insurance: −$81
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-237

Break-even live

Break-even rent $1,781

Max offer price $153,068

Occupancy floor —

Sensitivity live

Price	-10% $-127	-5% $-182	+0% $-237	+5% $-293	+10% $-348
Rent	-10% $-354	-5% $-296	+0% $-237	+5% $-179	+10% $-120
Rate	-1.0pp $-139	-0.5pp $-188	base $-237	+0.5pp $-288	+1.0pp $-339

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-23
   status Pending
2. 2026-04-22
   status Active
3. 2026-04-21
   historical Contingent - Subject to Financing
4. 2026-04-17
   listed $195,000 Active
5. 2022-11-10
   soldstatus $152,000 Sold 492-char remark

   Show marketing remark (492 chars)

   Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

6. 2022-11-10
   soldstatus $152,000

   Show marketing remark (492 chars)

   Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

7. 2022-10-19
   status Pending 492-char remark

   Show marketing remark (492 chars)

   Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

8. 2022-10-10
   historical Contingent - Inspection 492-char remark

   Show marketing remark (492 chars)

   Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

9. 2022-09-28
   listed $150,000 Active 492-char remark

   Show marketing remark (492 chars)

   Welcome to 160 Lake Ave North in Balaton! Bright & clean, this home offers a great floor plan with 3 bedrooms on the main floor and two bedrooms on the lower level with a walkout to the patio. Completely remodeled bathroom on the main level, custom real barn wood doors, and a walk out deck right off the kitchen! So much space in this home, lots of natural light, and an open floor plan from the kitchen to living room! You'll love the 2-stall attached garage, garden shed and large lot!

10. 2019-02-02
    historical 370-char remark

    Show marketing remark (370 chars)

    Modern open lay-out, numerous updates, including Roof, windows and flooring, and carpeting.This 5 bedroom, 2 bathroom is move in ready!New basement steps with built-in drawers! 2 car garage, large lot with Garden area. Enjoy the 2 local parks, lake with sandy beach and fishing, as well as golfing all within a few blocks.(Washer and Dryer do not go with this property)

11. 2018-01-19
    soldstatus $95,000
12. 2018-01-16
    soldstatus $95,000 370-char remark

    Show marketing remark (370 chars)

    Modern open lay-out, numerous updates, including Roof, windows and flooring, and carpeting.This 5 bedroom, 2 bathroom is move in ready!New basement steps with built-in drawers! 2 car garage, large lot with Garden area. Enjoy the 2 local parks, lake with sandy beach and fishing, as well as golfing all within a few blocks.(Washer and Dryer do not go with this property)

13. 2017-11-21
    listed $99,000 370-char remark

    Show marketing remark (370 chars)

    Modern open lay-out, numerous updates, including Roof, windows and flooring, and carpeting.This 5 bedroom, 2 bathroom is move in ready!New basement steps with built-in drawers! 2 car garage, large lot with Garden area. Enjoy the 2 local parks, lake with sandy beach and fishing, as well as golfing all within a few blocks.(Washer and Dryer do not go with this property)

14. 2001-08-01
    soldstatus $71,800

ⓘ 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: $2,970 · $248/mo
• Projected year-2 tax: $2,970 · $248/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $17,765
• − Mortgage interest: −$10,923
• − Property taxes: −$2,970
• − Insurance: −$1,642
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$5,673
• Taxable loss: −$6,285
• Est. tax savings @ 24.0%: +$1,508
• After-tax cash flow: $-1,340/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)

No district data.

Livability — Balaton

• Score: 66/100
• State rank: #477
• US rank: #11330

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Balaton, MN
• Population (ZIP): 1,262

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 25,369 people
• By 2030: 24,890 · -1.9%
• By 2040: 23,599 · -7.0%
• By 2050: 22,383 · -11.8%
• By 2075: 20,076 · -20.9%
• By 2100: 18,901 · -25.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 17% Iranian 6% Romanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+31.8) · D 33.1% · R 64.9% · Other 2.0%
• 2008→2024 swing: -30.2pp toward R · 2008: -1.6pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+25.9 2016: R+28.3 2012: R+9.2 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.48%
• Current HPI: 111.48
• 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

+171.6% since first listed

14 events — show timeline

• 2026-04-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-10 Sold (Public Records) $152,000 Public Records
• 2022-11-10 Sold (MLS) $152,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-28 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-01-19 Sold (Public Records) $95,000 Public Records
• 2018-01-16 Sold (MLS) $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-21 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-08-01 Sold (Public Records) $71,800 Public Records

Property tax history

+7.9%/yr

Latest (2026): $2,970 · +0.1% YoY. Source: county tax records.