1837 8th St NW · Elk River, MN 55330

$339,900

5 bd · 3.0 ba · 2,064 sqft · SingleFamily public records · 4 Days on market

Built 1993 0.43 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).

• Cash flow +14.1/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• DSCR +4.3/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 3 baths, multi-level split with full walkout basement on a large lot.

Key facts

• Multi-level design
• Access to trails
• Access to parks

Tags

• MULTI-LEVEL DESIGN
• POTENTIAL 5TH BEDROOM
• WALKING AND BIKING DISTANCE
• ACCESS TO PARKS
• ACCESS TO TRAILS
• ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Attached 2-car garage with concrete floor and garage door opener
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property; Four-or-more level split; Patio entry; Above- and below-grade finished living areas
• Construction: Block foundation; Asphalt roof (over 8 years old); Built with stone and vinyl exterior materials
• Exterior features: Patio; Stone and vinyl exterior; Medium tree coverage; City street with paved roads and public maintenance

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen and dining combined (kitchen/dining room)
• Bedrooms: 4 bedrooms total; Primary bedroom suite; Three bedrooms on one level
• Bathrooms: 2 full bathrooms; 1 half bathroom; Bathroom locations include upper level full bath, full basement bath, and a half bath
• Heating & cooling: Forced air heating; Central air conditioning; Electric and gas water heaters
• Interior features: Ceiling fan(s); Kitchen window; Primary bedroom walk-in closet; Finished walkout basement with egress window(s) and single tenant access; Wood-burning fireplace (1)
• Laundry & utility: Washer and dryer included; Washer hookup and dryer hookups for both electric and gas; Lower level laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $51 ($608/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 $288k (15.2% below list).
• Recommended offer: $288k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Elk River — 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 72/100 on livability (#265 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety 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.
• Market conditions: 453 active listings in the ZIP; high-income renter base; 334 units permitted in Sherburne County in 2024 (58 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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 $163k; list at $340k implies a 109% gain — meaningful room to come down on a strong offer.

Recommended offer $288,347 (15.2% 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 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?
3. 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?
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: 0.85% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 9.8

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-51,882
• Equity at exit: $50,680

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-41,149
• Equity at exit: $29,388

Cash invested: $95,172 (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 55330

• Active inventory: 453
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,883 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$303 /mo · $3,638/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $51

Break-even live

Break-even rent $2,819

Max offer price $339,900

Occupancy floor 93%

Sensitivity live

Price	-10% $243	-5% $147	+0% $51	+5% $-46	+10% $-142
Rent	-10% $-177	-5% $-63	+0% $51	+5% $165	+10% $278
Rate	-1.0pp $222	-0.5pp $137	base $51	+0.5pp $-37	+1.0pp $-127

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $339,900 Active 4 DOM
2. 2026-06-17
   days on market $339,900 Active 3 DOM
3. 2026-06-16
   days on market $339,900 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $339,900 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: $3,638 · $303/mo
• Projected year-2 tax: $3,722 · $310/mo
• Expected delta: +$84/yr (+$7/mo · 2.3%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,602
• − Mortgage interest: −$19,040
• − Property taxes: −$3,638
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,768
• − Management: −$2,768
• − Depreciation: −$9,888
• Taxable loss: −$5,200
• Est. tax savings @ 24.0%: +$1,248
• After-tax cash flow: $1,856/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 — Elk River

• Score: 72/100
• State rank: #265
• US rank: #5795

Category grades

Amenities F Commute F Cost of living B- 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: Elk River, MN
• County: Sherburne County · 120,363 people
• City population: 45,721
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 45,721
• Household income: $115,761
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 285.0

Population outlook (Sherburne County) Hauer SSP2

• Today (2025): 97,402 people
• By 2030: 99,341 · +2.0%
• By 2040: 101,188 · +3.9%
• By 2050: 99,214 · +1.9%
• By 2075: 88,700 · -8.9%
• By 2100: 72,241 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 13% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Sherburne

• 2024 margin: Solid R (+34.9) · D 31.7% · R 66.6% · Other 1.7%
• 2008→2024 swing: -16.7pp toward R · 2008: -18.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+32.6 2016: R+37.0 2012: R+22.1 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.46%
• Current HPI: 241.3028
• 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

+120.9% since first listed

12 events — show timeline

• 2026-06-14 Listed $339,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-01 Sold (Public Records) $163,000 Public Records
• 2007-05-22 Sold (MLS) $168,500 NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-01 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-11 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-28 Listed $197,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-27 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-10-04 Listed $153,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $3,638 · -0.5% YoY. Source: county tax records.