12468 65th St NE · Otsego, MN 55301

$380,000

4 bd · 2.0 ba · 2,221 sqft · SingleFamily public records · 9 Days on market

Built 2006 0.28 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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +5.2/10.0
• 1% rule +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All information is approximate and estimated. Agents & buyers to verify all. Agents please view agent remarks. Clean home, move in ready. Partially finished lower level with walk out. 3 br on one level.

Key facts

• Open floor plan
• 240 volt outlet
• Raspberry bushes

Tags

• OPEN FLOOR PLAN
• MAINTENANCE FREE DECK
• NATURALLY PRIVATE BACKYARD
• RASPBERRY BUSHES
• 240 VOLT OUTLET

Property features AI

Exterior

• Parking: Attached garage with 3 spaces
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Split-entry (bi-level) design; Entry level details include living areas on one level
• Construction: Block foundation; Roof replaced within the last 8 years
• Exterior features: Vinyl exterior; Storage shed; City-maintained paved streets

Interior

• Kitchen: Main kitchen on upper level; Second kitchen on lower level
• Bedrooms: 4 bedrooms total; Primary bedroom and additional bedrooms on the upper level; One bedroom located on the lower level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished lower-level living space; Walkout basement; Block foundation; Fireplace (1)
• Laundry & utility: Lower-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $380k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/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 $360k (5.3% below list).
• Recommended offer: $360k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 4.0% in Otsego — 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 (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Rogers Elementary (math 69% / reading 70%, grade A-, #74 of 857 statewide, top 10%, 627 students, 12% FRL); Rogers Middle School (math 61% / reading 63%, grade B+, #19 of 258 statewide, top 8%, 979 students, 16% FRL); Rogers Senior High (math 66% / reading 64%, grade B, #28 of 471 statewide, top 6%, 1,740 students, 18% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 33% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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 $300k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $359,961 (5.3% 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. Schools are B-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?
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: 0.95% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 8.8

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-37,045
• Equity at exit: $56,659

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-807
• Equity at exit: $32,855

Cash invested: $106,400 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 143
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,600 medium
• Mortgage (P&I): −$1,993
• Tax from tax record: −$307 /mo · $3,680/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $386

Break-even live

Break-even rent $3,111

Max offer price $380,000

Occupancy floor 84%

Sensitivity live

Price	-10% $601	-5% $493	+0% $386	+5% $278	+10% $171
Rent	-10% $102	-5% $244	+0% $386	+5% $528	+10% $670
Rate	-1.0pp $577	-0.5pp $483	base $386	+0.5pp $287	+1.0pp $187

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: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7535 Lannon Ave NE Albertville, MN	5.0	3.0	2209	$3,179	$1.44	0d	1	1.20mi
11193 68th St NE Unit NA Albertville, MN	3.0	3.0	2644	$3,250	$1.23	0d	1	1.36mi

Listing history 12 events

1. 2026-06-07
   status $380,000 Pending 9 DOM
2. 2026-06-04
   days on market $380,000 Active 9 DOM
3. 2026-06-03
   days on market $380,000 Active 8 DOM
4. 2026-06-02
   remarks 699-char remark
5. 2026-06-02
   days on market $380,000 Active 7 DOM
6. 2026-06-01
   days on market $380,000 Active 6 DOM
7. 2026-05-31
   days on market $380,000 Active 5 DOM
8. 2026-05-26
   listed $380,000 Active
9. 2023-06-05
   soldstatus $300,000
10. 2008-10-28
    soldstatus $145,000 210-char remark

    Show marketing remark (210 chars)

    All information is approximate and estimated. Agents & buyers to verify all. Agents please view agent remarks. Clean home, move in ready. Partially finished lower level with walk out. 3 br on one level.

11. 2008-10-01
    historical 210-char remark

    Show marketing remark (210 chars)

    All information is approximate and estimated. Agents & buyers to verify all. Agents please view agent remarks. Clean home, move in ready. Partially finished lower level with walk out. 3 br on one level.

12. 2008-07-08
    listed $154,900 210-char remark

    Show marketing remark (210 chars)

    All information is approximate and estimated. Agents & buyers to verify all. Agents please view agent remarks. Clean home, move in ready. Partially finished lower level with walk out. 3 br on one level.

ⓘ 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: $3,680 · $307/mo
• Projected year-2 tax: $3,968 · $331/mo
• Expected delta: +$288/yr (+$24/mo · 7.8%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,195
• − Mortgage interest: −$21,286
• − Property taxes: −$3,680
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,456
• − Management: −$3,456
• − Depreciation: −$11,055
• Taxable loss: −$1,636
• Est. tax savings @ 24.0%: +$393
• After-tax cash flow: $5,024/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• Rent YoY: —
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+145.3% since first listed

5 events — show timeline

• 2026-05-26 Listed $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-05 Sold (Public Records) $300,000 Public Records
• 2008-10-28 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-08 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $3,680 · -5.1% YoY. Source: county tax records.