76 4th Ave E · Wood Lake, MN 56297

$170,000

3 bd · 2.0 ba · 676 sqft · SingleFamily public records · 60 Days on market

Built 1947 0.32 ac lot ↓ 6% since listing

---

Why this score? — see what drove the F 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 +8.3/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks

Corner double lot, 3 bedroom 2 bath home with attached 2 car garage, breezeway leading to the dining and kitchen. Several improvements throughout the years including vinyl siding and new windows. Large 32x24 heated insulated shed. Home was moved onto this lot late 1970's. Enlarged main floor bathroom in 2003 and moved stairway. Home has large rooms, some nice upgrades. There is some sheetrock that was never been painted on the 2nd level and the basement stairwell. Lots of room for improvements in the basement, the block has braces and comes with a warranty. Unique home on a large lot, room for a garden and comes with established asparagus and Honey Crisp apple trees.

Key facts

• Corner double lot
• Vinyl siding
• New windows

Tags

• CORNER DOUBLE LOT
• BREEZEWAY LEADING TO DINING
• VINYL SIDING
• NEW WINDOWS
• HEATED INSULATED SHED
• ENLARGED MAIN FLOOR BATHROOM

Property features AI

Exterior

• Parking: Attached heated and insulated garage; 4-car garage (garage dimensions: 28x24 and 32x24)
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property; One-and-one-half levels; Partially wheelchair accessible with wheelchair ramp(s)
• Construction: Frame construction; Block foundation; Foundation dimensions: 26x36; Built on block foundation
• Exterior features: Covered porch; Deck; Vinyl exterior; Storage shed; Light tree coverage

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Kitchen island
• Bedrooms: 3 bedrooms (primary on main level)
• Bathrooms: 1 full bath on main level; 1 three-quarter bath in basement; Jetted tub
• Heating & cooling: Forced air heating; Central air conditioning; Other heating system
• Interior features: Ceiling fans; French doors; Kitchen center island; Kitchen window; Main-floor primary bedroom; Porch; Washer/dryer hookup; Water softener (owned); Divided bedroom floor plan; Main-floor bedroom; Main-floor laundry; Has fireplace (electric and gas) in the living room
• Laundry & utility: Washer; Dryer; Washer/dryer hookups on main and lower levels; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-356 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (36.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (46.0% below list).
• Recommended offer: $92k (46.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#603 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, health & safety D+, amenities F.
• Lakeview School District (rural): math 51% / reading 55% proficiency, ranked #81 of 301 in MN (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lakeview Elementary (math 57% / reading 62%, grade B-, #216 of 857 statewide, top 29%, 398 students, 42% FRL); Lakeview Secondary (math 42% / reading 47%, grade F, #189 of 471 statewide, top 44%, 315 students, 33% FRL) — zoned schools average 38% FRL vs 21% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 7 units permitted in Yellow Medicine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.5% local appreciation)).
• Yellow Medicine County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,809 (46.0% 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 60 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.54% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 15.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.67×
• Total profit: $31,876
• Equity at exit: $112,701

10-year hold

• IRR: 10.8%
• Equity multiple: 3.31×
• Total profit: $110,137
• Equity at exit: $209,611

Cash invested: $47,600 (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 56297

• Home prices YoY: 4.7%
• Active inventory: 5
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $918 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $-356

Break-even live

Break-even rent $1,368

Max offer price $107,192

Occupancy floor —

Sensitivity live

Price	-10% $-259	-5% $-307	+0% $-356	+5% $-404	+10% $-452
Rent	-10% $-428	-5% $-392	+0% $-356	+5% $-319	+10% $-283
Rate	-1.0pp $-270	-0.5pp $-312	base $-356	+0.5pp $-400	+1.0pp $-444

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $170,000 Active 60 DOM
2. 2026-06-19
   days on market $170,000 Active 57 DOM
3. 2026-06-18
   days on market $170,000 Active 56 DOM
4. 2026-06-17
   days on market $170,000 Active 55 DOM
5. 2026-06-16
   days on market $170,000 Active 54 DOM
6. 2026-06-15
   days on market $170,000 Active 53 DOM
7. 2026-06-14
   days on market $170,000 Active 51 DOM
8. 2026-06-12
   days on market $170,000 Active 50 DOM
9. 2026-06-09
   days on market $170,000 Active 47 DOM
10. 2026-06-08
    days on market $170,000 Active 46 DOM
11. 2026-06-07
    days on market $170,000 Active 45 DOM
12. 2026-06-05
    days on market $170,000 Active 43 DOM
13. 2026-06-04
    days on market $170,000 Active 41 DOM
14. 2026-06-02
    days on market $170,000 Active 40 DOM
15. 2026-06-01
    days on market $170,000 Active 39 DOM
16. 2026-05-31
    days on market $170,000 Active 38 DOM
17. 2026-05-31
    days on market $170,000 Active 37 DOM
18. 2026-05-06
    historical Contingent - Inspection 681-char remark
19. 2026-04-23
    listed $175,000 Active 681-char remark
20. 2026-04-23
    historical
21. 2026-02-11
    price $175,000
22. 2025-10-01
    status Active
23. 2025-10-01
    historical Contingent - Inspection
24. 2025-10-01
    listed $180,000 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: $1,422 · $118/mo
• Projected year-2 tax: $1,663 · $139/mo
• Expected delta: +$241/yr (+$20/mo · 16.9%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,017
• − Mortgage interest: −$9,523
• − Property taxes: −$1,422
• − Insurance: −$850
• − Repairs & maintenance: −$881
• − Management: −$881
• − Depreciation: −$4,945
• Taxable loss: −$7,486
• Est. tax savings @ 24.0%: +$1,797
• After-tax cash flow: $-2,470/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: Lakeview School District
• NCES district ID: 2700088
• Math proficiency: 51% ▼ -7.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $55,887
• Composite: 45.83/100
• National rank: #2555
• State rank: #81 of 301 in MN

Livability — Wood Lake

• Score: 64/100
• State rank: #603
• US rank: #14391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wood Lake, MN
• Population (ZIP): 824

Population outlook (Yellow Medicine County) Hauer SSP2

• Today (2025): 8,959 people
• By 2030: 8,451 · -5.7%
• By 2040: 7,514 · -16.1%
• By 2050: 6,650 · -25.8%
• By 2075: 5,306 · -40.8%
• By 2100: 4,453 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 22% Scottish 4% English 4%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Yellow Medicine

• 2024 margin: Solid R (+40.6) · D 28.7% · R 69.3% · Other 1.9%
• 2008→2024 swing: -44.9pp toward R · 2008: 4.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+37.0 2016: R+35.4 2012: R+6.3 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.54%
• Current HPI: 144.7908
• 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

-5.6% since first listed

9 events — show timeline

• 2026-05-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-11 Price Changed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2026): $1,422 · +6.6% YoY. Source: county tax records.