607 Pleasant Dr · Hastings, MN 55033

$275,000

3 bd · 2.0 ba · 1,868 sqft · SingleFamily public records · 4 Days on market

Built 1998 6,098 sqft lot $147/sqft · 16% below area Est $328k · 16% under

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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 +14.7/15.0
• Cash flow +12.2/30.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

Key facts

• New furnace
• Tiled walk-in shower
• Front porch

Tags

• FRONT PORCH
• TILED WALLS
• TILED WALK-IN SHOWER
• FULLY FENCED YARD
• NEW FURNACE
• NEW ROOF

Property features AI

Finance

• Financial info: Conventional mortgage type

Exterior

• Parking: Asphalt parking
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential attached property; Two levels; Entry on main level
• Construction: Block construction; Block foundation; Asphalt roof (age 8 years or less); Built with above- and below-grade finished areas
• Exterior features: Front porch; Vinyl exterior; Chain link full fence; Storage shed; Corner lot (approx. 65x90x65x94)

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Range; Dishwasher
• Bedrooms: 4 bedrooms total; Main floor bedroom; Upper level bedrooms; Lower level bedroom
• Flooring: Tile floors
• Bathrooms: 1 full bathroom (upper level); 1 three-quarter bathroom (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen window; Main floor primary bedroom; Paneled doors; Porch; Tile floors; Washer/dryer hookup; Finished full basement with daylight/lookout windows
• Laundry & utility: Laundry in basement; Gas dryer hookup; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-53 ($-635/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (19.9% below list).
• Recommended offer: $220k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.9% in Hastings — 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 75/100 on livability (#176 in MN, #3,817 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Hastings Public School District (town): math 43% / reading 50% proficiency, ranked #136 of 301 in MN (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 174 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,134 units permitted in Dakota County in 2024 (898 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.
• Dakota County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $220,246 (19.9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 10.4

CMA / ARV

• ARV (median comp): $327,563
• List price: $275,000
• Delta: -16.05%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1335 17th St W	0.72mi	3/2.0	1,852 (-1%)	20mo	$319,900	$173	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.7%
• Equity multiple: 0.38×
• Total profit: $-47,966
• Equity at exit: $41,003

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-46,242
• Equity at exit: $23,777

Cash invested: $77,000 (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 55033

• Active inventory: 174
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,202 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$236 /mo · $2,834/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-53

Break-even live

Break-even rent $2,269

Max offer price $265,650

Occupancy floor 97%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 Pleasant Dr Hastings, MN	4.0	2.0	1500	$2,600	$1.73	5d	1	0.04mi
400 Spring St Hastings, MN	3.0	2.0	2300	$2,495	$1.08	2d	1	1.25mi

Listing history 12 events

1. 2026-05-18
   status Pending 1355-char remark
2. 2026-05-14
   listed $275,000 Active 1355-char remark
3. 2020-11-24
   soldstatus $192,000
4. 2020-10-29
   soldstatus $192,000 Sold 695-char remark

   Show marketing remark (695 chars)

   Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

5. 2020-09-29
   status Pending 695-char remark

   Show marketing remark (695 chars)

   Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

6. 2020-09-23
   historical 695-char remark

   Show marketing remark (695 chars)

   Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

7. 2020-09-22
   listed $190,000 Active 695-char remark

   Show marketing remark (695 chars)

   Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

8. 2020-09-03
   historical $190,000 695-char remark

   Show marketing remark (695 chars)

   Welcome home!! This gorgeous home has much to offer! Enjoy two spacious and separate living spaces, updated kitchen appliances, eat-in kitchen with access to brand new deck with stairs to the beautiful fully fenced in and private tree lined back yard. Spend your beautiful days relaxing on front porch. Roof and gutters replaced in 2020. Enjoy being walking distance to both Crestview and Lions Park, restaurants, and shopping, including Target and Walmart. Walking distance to Christa McAuliffe Elementary, Hastings High School and Marcus Cinema. Only minutes from Pinecrest Elementary, Hastings Middle School, Hastings Golf Club and Vermillion Falls Park. Schedule you private showing!

9. 2017-12-21
   soldstatus $179,000 Sold

   Show marketing remark (289 chars)

   Welcome home to this very clean and lovingly cared for twinhome with 3 bedrooms + den/office & 2 bathrooms. Big open family room in lower level. Enjoy your time on the newly stained covered front porch & beautiful fully fenced in and private back yard with shed. NO Association.

10. 2017-11-16
    status Pending

    Show marketing remark (289 chars)

    Welcome home to this very clean and lovingly cared for twinhome with 3 bedrooms + den/office & 2 bathrooms. Big open family room in lower level. Enjoy your time on the newly stained covered front porch & beautiful fully fenced in and private back yard with shed. NO Association.

11. 2017-11-07
    historical Contingent - Inspection

    Show marketing remark (289 chars)

    Welcome home to this very clean and lovingly cared for twinhome with 3 bedrooms + den/office & 2 bathrooms. Big open family room in lower level. Enjoy your time on the newly stained covered front porch & beautiful fully fenced in and private back yard with shed. NO Association.

12. 2017-10-23
    listed $175,000 Active

    Show marketing remark (289 chars)

    Welcome home to this very clean and lovingly cared for twinhome with 3 bedrooms + den/office & 2 bathrooms. Big open family room in lower level. Enjoy your time on the newly stained covered front porch & beautiful fully fenced in and private back yard with shed. NO Association.

ⓘ 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: $2,834 · $236/mo
• Projected year-2 tax: $2,957 · $246/mo
• Expected delta: +$123/yr (+$10/mo · 4.3%)

ⓘ 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 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: $26,430
• − Mortgage interest: −$15,404
• − Property taxes: −$2,834
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$8,000
• Taxable loss: −$5,412
• Est. tax savings @ 24.0%: +$1,299
• After-tax cash flow: $664/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: Hastings Public School District
• NCES district ID: 2713530
• Math proficiency: 43% ▼ -25.00%
• Reading proficiency: 50% ▼ -16.00%
• Median HH income: $69,586
• Composite: 41.73/100
• National rank: #3404
• State rank: #136 of 301 in MN

Livability — Hastings

• Score: 75/100
• State rank: #176
• US rank: #3817

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MN
• County: Dakota County · 417,704 people
• City population: 29,674
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 29,674
• Household income: $103,988
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 552.0

Population outlook (Dakota County) Hauer SSP2

• Today (2025): 450,671 people
• By 2030: 465,068 · +3.2%
• By 2040: 486,770 · +8.0%
• By 2050: 498,743 · +10.7%
• By 2075: 533,865 · +18.5%
• By 2100: 550,133 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 4% Asian 2% Black 1%
• Common ancestry: Portuguese 11% Romanian 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 0%

Political lean MEDSL · Dakota

• 2024 margin: D (+12.9) · D 55.4% · R 42.5% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 5.5pp · 2024: 12.9pp
• All cycles: 2024: D+12.9 2020: D+13.9 2016: D+4.7 2012: D+2.9 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.35%
• Current HPI: 228.8854
• 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

+57.1% since first listed

13 events — show timeline

• 2026-06-16 Sold (MLS) $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-24 Sold (Public Records) $192,000 Public Records
• 2020-10-29 Sold (MLS) $192,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-22 Listed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-03 Coming Soon $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-21 Sold (MLS) $179,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-23 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $2,834 · -0.5% YoY. Source: county tax records.