1842 111th Ave NE · Blaine, MN 55449

$270,000

2 bd · 2.0 ba · 1,735 sqft · Townhouse public records · 32 Days on market

Built 1999 1,742 sqft lot $156/sqft · 11% below area Est $298k · 9% under $350/mo HOA · 14% of rent

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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).

• ARV discount +11.7/15.0
• Cash flow +8.3/30.0
• 1% rule +4.0/10.0
• Schools +4.0/10.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

* * July 2025- New Furnace, New AC, Whole house fresh paint and new carpet!! This beautiful townhome near peaceful Deacons Park offers comfort and style in a wonderful setting. Step inside and you’re greeted by 9-foot ceilings that open the space and let in streams of natural light through large windows. The main level features a bright living area flowing into the dining space and kitchen, ideal for gatherings or quiet evenings at home. Upstairs, the spacious master bedroom includes a walk-in closet for excellent storage. A versatile loft adds extra living options—use it as an office, reading corner, or play space. From the loft, enjoy serene views of a lovely pond in your own

Key facts

• $350 HOA
• 2 garage spots
• Built 1999

Property features AI

Finance

• Other: Lot approximately 0.04 acres (75x27)
• HOA & community: Has HOA (Rowcal); HOA fee $350 monthly; HOA covers hazard insurance, lawn care, grounds maintenance, and snow removal

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential attached property; Two levels; Entry on main level
• Construction: Foundation: Other; Foundation area listed
• Exterior features: Vinyl exterior; Lakefront / lake view / pond setting; No road between home and waterfront

Interior

• Kitchen: Kitchen on main level (17x10)
• Bedrooms: Two bedrooms (both on upper level)
• Bathrooms: One full bath; One half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open loft area; Patio
• Laundry & utility: Main-level laundry (7x7)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (9.8% below list).
• Recommended offer: $226k (16.2% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 3.9% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Spring Lake Park Public Schools (suburban): math 41% / reading 49% proficiency, ranked #162 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 245 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $8k 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

• It's been on market 32 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 23y 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.

Recommended offer $226,284 (16.2% 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. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.90% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.93%
• DSCR: 0.83
• GRM: 9.2

CMA / ARV

• ARV (median comp): $297,642
• List price: $270,000
• Delta: -9.29%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.26×
• Total profit: $-55,758
• Equity at exit: $40,258

10-year hold

• IRR: -10.8%
• Equity multiple: 0.30×
• Total profit: $-53,021
• Equity at exit: $23,345

Cash invested: $75,600 (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 55449

• Home prices YoY: -23.8%
• Rents YoY: 4.4%
• Active inventory: 245
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,436 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$294 /mo · $3,526/yr
• Insurance: −$112
• HOA: −$350
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-247

Break-even live

Break-even rent $2,750

Max offer price $226,284

Occupancy floor —

Sensitivity live

Price	-10% $-95	-5% $-171	+0% $-247	+5% $-324	+10% $-400
Rent	-10% $-440	-5% $-344	+0% $-247	+5% $-151	+10% $-55
Rate	-1.0pp $-111	-0.5pp $-179	base $-247	+0.5pp $-317	+1.0pp $-389

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1792	$2,500	$1.40	2d	1	0.43mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1800	$2,500	$1.39	12d	1	0.43mi
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	853	$2,070	$2.43	2d	7	1.22mi

HOA detail

• Monthly dues: $350 · $4,200/yr

Listing history 50 events

1. 2026-06-16
   status $270,000 Pending 32 DOM
2. 2026-06-15
   days on market $270,000 Contingent - Inspection 32 DOM
3. 2026-06-13
   days on market $270,000 Contingent - Inspection 30 DOM
4. 2026-06-09
   days on market $270,000 Contingent - Inspection 26 DOM
5. 2026-06-08
   statusdays on market $270,000 Contingent - Inspection 25 DOM
6. 2026-06-07
   days on market $270,000 Active 24 DOM
7. 2026-06-04
   days on market $270,000 Active 21 DOM
8. 2026-06-03
   days on market $270,000 Active 20 DOM
9. 2026-06-02
   days on market $270,000 Active 19 DOM
10. 2026-06-01
    days on market $270,000 Active 18 DOM
11. 2026-05-31
    days on market $270,000 Active 17 DOM
12. 2026-05-14
    status Active 872-char remark
13. 2026-05-14
    historical 872-char remark
14. 2026-05-13
    listed $270,000 872-char remark
15. 2026-05-13
    historical
16. 2026-04-14
    status Active
17. 2026-03-24
    status Pending
18. 2026-03-12
    historical Contingent - Subject to Statutory Rescission
19. 2026-02-14
    status Active
20. 2026-02-14
    historical
21. 2026-02-14
    listed $285,000
22. 2025-12-02
    historical
23. 2025-10-02
    price $299,900
24. 2025-08-28
    price $308,000
25. 2025-08-01
    listed $318,000 Active
26. 2025-07-28
    historical
27. 2021-01-22
    soldstatus $246,000
28. 2020-12-22
    soldstatus $246,000 Sold
29. 2020-12-11
    status Pending
30. 2020-12-01
    historical Contingent - Inspection
31. 2020-11-12
    price $249,900
32. 2020-11-04
    listed $254,900 Active
33. 2020-11-02
    historical $254,900
34. 2013-08-22
    soldstatus $170,000
35. 2013-08-07
    soldstatus $170,000
36. 2013-07-08
    listed $165,000
37. 2009-09-02
    soldstatus $159,000
38. 2009-08-26
    soldstatus $159,000
39. 2009-08-07
    historical
40. 2009-07-06
    listed $159,900
41. 2009-07-02
    historical
42. 2008-09-09
    listed $174,000
43. 2008-09-08
    historical
44. 2008-08-08
    historical
45. 2008-08-07
    listed $185,000
46. 2008-01-18
    listed $199,900
47. 2007-10-31
    historical
48. 2007-02-23
    listed $206,900
49. 2003-08-08
    soldstatus $193,900
50. 2003-07-31
    soldstatus $193,900

ⓘ 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: $3,526 · $294/mo
• Projected year-2 tax: $3,526 · $294/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $29,238
• − Mortgage interest: −$15,124
• − Property taxes: −$3,526
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,339
• − Management: −$2,339
• − HOA: −$4,200
• − Depreciation: −$7,855
• Taxable loss: −$7,496
• Est. tax savings @ 24.0%: +$1,799
• After-tax cash flow: $-1,171/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: Spring Lake Park Public Schools
• NCES district ID: 2733330
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $65,602
• Composite: 40.11/100
• National rank: #3802
• State rank: #162 of 301 in MN

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 34,443
• Household income: $131,832
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 275.0

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 (73%)
• Race & ethnicity: White 73% Asian 10% Black 9% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 79% English-only · Arabic 4% Other Asian/Pacific 4% Spanish 3%

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: ▼ -70.24%
• Current HPI: 225.2348
• Rent YoY: ▲ 4.42%
• 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

+39.2% since first listed

43 events — show timeline

• 2026-06-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-02 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-28 Price Changed $308,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-01 Listed $318,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-28 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-22 Sold (Public Records) $246,000 Public Records
• 2020-12-22 Sold (MLS) $246,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-12 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-04 Listed $254,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-02 Coming Soon $254,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-22 Sold (Public Records) $170,000 Public Records
• 2013-08-07 Sold (MLS) $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-08 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-02 Sold (Public Records) $159,000 Public Records
• 2009-08-26 Sold (MLS) $159,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-08-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-06 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-09 Listed $174,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-07 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-18 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-23 Listed $206,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-08-08 Sold (Public Records) $193,900 Public Records
• 2003-07-31 Sold (MLS) $193,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-30 Listed $193,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2026): $3,526 · +11.1% YoY. Source: county tax records.