12644 County Highway 5 · Lake Park, MN 56554

$60,000

1 bd · 1.0 ba · 288 sqft · SingleFamily public records · 15 Days on market

Built 1945 3,920 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.5/10.0

Listing remarks

Affordable living in the heart of lake country! This lot includes two properties, each with their own respective living area, kitchen, bedroom, and bathroom. Property is located just steps away from Big Cormorant, Middle Cormorant, beaches, and restaurants. Also includes a newer 1000gal holding tank. Contact your favorite Realtor and schedule your showing today!

Key facts

• Kitchen
• Bathroom
• Bedroom

Tags

• LIVING AREA
• KITCHEN
• BEDROOM
• BATHROOM
• NEWER 1000GAL HOLDING TANK

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Shared water system and private well; Compliant septic system; Electric fuel source
• Home design: Residential property; One story; Entry/finished area on main level
• Construction: Slab foundation (12' x 24'); Foundation area 288
• Exterior features: Vinyl exterior; Lake view

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 three-quarter bathrooms on the main level
• Heating & cooling: Baseboard heating; No central air conditioning
• Interior features: All living facilities on one level; No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($825 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#250 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Lake Park Audubon School District (rural): math 41% / reading 50% proficiency, ranked #166 of 301 in MN (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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. 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: 1.38% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.05%
• DSCR: 1.85
• GRM: 6.1

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: 10.9%
• Equity multiple: 1.43×
• Total profit: $7,259
• Equity at exit: $8,946

10-year hold

• IRR: 20.0%
• Equity multiple: 2.68×
• Total profit: $28,173
• Equity at exit: $5,188

Cash invested: $16,800 (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 56554

• Home prices YoY: -3.2%
• Active inventory: 42
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $825 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $267

Break-even live

Break-even rent $488

Max offer price $60,000

Occupancy floor 63%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $60,000 Pending 15 DOM
2. 2026-06-09
   days on market $60,000 Active 14 DOM
3. 2026-06-08
   days on market $60,000 Active 13 DOM
4. 2026-06-07
   days on market $60,000 Active 12 DOM
5. 2026-06-07
   days on market $60,000 Active 11 DOM
6. 2026-06-04
   days on market $60,000 Active 8 DOM
7. 2026-06-02
   days on market $60,000 Active 7 DOM
8. 2026-06-01
   days on market $60,000 Active 6 DOM
9. 2026-05-31
   days on market $60,000 Active 5 DOM
10. 2026-05-31
    days on market $60,000 Active 4 DOM
11. 2026-05-26
    listed $60,000 Active

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $610 · $51/mo
• Expected delta: +$62/yr (+$5/mo · 11.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,904
• − Mortgage interest: −$3,361
• − Property taxes: −$548
• − Insurance: −$300
• − Repairs & maintenance: −$792
• − Management: −$792
• − Depreciation: −$1,745
• Taxable income: $2,365
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $2,633/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: Lake Park Audubon School District
• NCES district ID: 2700162
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $58,251
• Composite: 39.81/100
• National rank: #3877
• State rank: #166 of 301 in MN

Livability — Lake Park

• Score: 73/100
• State rank: #250
• US rank: #5393

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,687

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Asian 2% Native American 1%
• Common ancestry: Portuguese 33% Scottish 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Tagalog/Filipino 1% Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.94%
• Current HPI: 273.6768
• 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

• 2026-05-26 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.9%/yr

Latest (2025): $548 · -12.5% YoY. Source: county tax records.