5181 #52 Fish Hook Dr SW · Alexandria, MN 56308

$113,900

None bd · None ba · — sqft · Other · 12 Days on market

$100/mo HOA · 7% of rent

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Why this score? — see what drove the C 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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's "Lake Livin'" the EASY & AFFORDABLE way on beautiful Lake Mary. Start making those summer memories now in the highly regarded and meticulously kept, Eden Acres Association. Here, its NO work and ALL play because everything is done for you! There’ll be room for everyone in this spacious 40' Breckenridge Travel Trailer along with its air conditioned 150' addition, giving you a whopping 450' of living space. Plus the new covered porch is perfect for grillin' or chillaxin'. Parking is right in front of the trailer too for ease. This property comes fully furnished too! See supplements for complete list. Take in lake views & cruise the beautifully paved paths by foot or by golf cart to not just one, but two sandy beaches—ideal for soaking up the sun or letting the "littles" play. If that wasn't glorious enough, this association includes your own personal boat slip, laundry facilities, stainless steel fish cleaning room, gas on site to fuel the boats & jet skis, below ground concrete storm shelter, playground, kayak storage, private outdoor showers & bathrooms for guest overflow, community room & mini store currently under renovation, and so much more. Eden Acres is a Coop w/ 85 Shares on 21.5 acres. Buyer receives 1 Share in Coop. Whether you're looking for a weekend retreat or a full-season escape, this is your invitation to start making lifelong lake memories.

Key facts

• Covered porch
• Laundry facilities
• Lake views

Tags

• COVERED PORCH
• LAKE VIEWS
• TWO SANDY BEACHES
• PERSONAL BOAT SLIP
• LAUNDRY FACILITIES
• PLAYGROUND

What this means for you Summary

Snapshot

• This is a other listed at $114k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Cap rate 8.6% vs local median 2.5% in Alexandria — 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 78/100 on livability (#105 in MN, #2,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Alexandria Public School District (town): math 55% / reading 57% proficiency, ranked #64 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lincoln Elementary (math 67% / reading 57%, grade B, #180 of 857 statewide, top 23%, 466 students, 38% FRL); Discovery Middle School (math 51% / reading 57%, grade B-, #48 of 258 statewide, top 19%, 913 students, 34% FRL); Alexandria Area High School (math 39% / reading 62%, grade D+, #131 of 471 statewide, top 28%, 1,302 students, 26% FRL).
• Market conditions: 413 active listings in the ZIP; solid renter incomes; 285 units permitted in Douglas County in 2024 (88 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $787 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Douglas County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 $83k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $113,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.23% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.16%
• DSCR: 1.36
• GRM: 6.8

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-4,560
• Equity at exit: $16,983

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $14,152
• Equity at exit: $9,848

Cash invested: $31,892 (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 56308

• Active inventory: 413
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$597
• Tax est. 1.5%: −$142 /mo · $1,708/yr
• Insurance: −$47
• HOA: −$100
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $217

Break-even live

Break-even rent $1,123

Max offer price $113,900

Occupancy floor 79%

Sensitivity live

Price	-10% $296	-5% $256	+0% $217	+5% $178	+10% $138
Rent	-10% $106	-5% $162	+0% $217	+5% $272	+10% $327
Rate	-1.0pp $274	-0.5pp $246	base $217	+0.5pp $187	+1.0pp $157

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $100 · $1,200/yr
• Likely covers: gas

Listing history 13 events

1. 2026-06-03
   statusdays on market $113,900 Pending 12 DOM
2. 2026-06-02
   days on market $113,900 Active 11 DOM
3. 2026-06-01
   days on market $113,900 Active 10 DOM
4. 2026-05-31
   days on market $113,900 Active 9 DOM
5. 2026-05-30
   days on market $113,900 Active 8 DOM
6. 2026-05-01
   status Active 1441-char remark

   Show marketing remark (1441 chars)

   Here's "Lake Livin'" the EASY & AFFORDABLE way on beautiful Lake Mary. Start making those summer memories now in the highly regarded and meticulously kept, Eden Acres Association. Here, its NO work and ALL play because everything is done for you! There’ll be room for everyone in this spacious 40' Breckenridge Travel Trailer along with its air conditioned 150' addition, giving you a whopping 450' of living space. Plus the new covered porch is perfect for grillin' or chillaxin'. Parking is right in front of the trailer too for ease. This property comes fully furnished too! See supplements for complete list. Take in lake views & cruise the beautifully paved paths by foot or by golf cart to not just one, but two sandy beaches—ideal for soaking up the sun or letting the "littles" play. If that wasn't glorious enough, this association includes your own personal boat slip, laundry facilities, stainless steel fish cleaning room, gas on site to fuel the boats & jet skis, below ground concrete storm shelter, playground, kayak storage, private outdoor showers & bathrooms for guest overflow, community room & mini store currently under renovation, and so much more. Eden Acres is a Coop w/ 85 Shares on 21.5 acres. Buyer receives 1 Share in Coop. Whether you're looking for a weekend retreat or a full-season escape, this is your invitation to start making lifelong lake memories.

7. 2026-04-28
   historical 1441-char remark

   Show marketing remark (1441 chars)

   Here's "Lake Livin'" the EASY & AFFORDABLE way on beautiful Lake Mary. Start making those summer memories now in the highly regarded and meticulously kept, Eden Acres Association. Here, its NO work and ALL play because everything is done for you! There’ll be room for everyone in this spacious 40' Breckenridge Travel Trailer along with its air conditioned 150' addition, giving you a whopping 450' of living space. Plus the new covered porch is perfect for grillin' or chillaxin'. Parking is right in front of the trailer too for ease. This property comes fully furnished too! See supplements for complete list. Take in lake views & cruise the beautifully paved paths by foot or by golf cart to not just one, but two sandy beaches—ideal for soaking up the sun or letting the "littles" play. If that wasn't glorious enough, this association includes your own personal boat slip, laundry facilities, stainless steel fish cleaning room, gas on site to fuel the boats & jet skis, below ground concrete storm shelter, playground, kayak storage, private outdoor showers & bathrooms for guest overflow, community room & mini store currently under renovation, and so much more. Eden Acres is a Coop w/ 85 Shares on 21.5 acres. Buyer receives 1 Share in Coop. Whether you're looking for a weekend retreat or a full-season escape, this is your invitation to start making lifelong lake memories.

8. 2026-03-06
   listed $114,900 Active 1441-char remark

   Show marketing remark (1441 chars)

   Here's "Lake Livin'" the EASY & AFFORDABLE way on beautiful Lake Mary. Start making those summer memories now in the highly regarded and meticulously kept, Eden Acres Association. Here, its NO work and ALL play because everything is done for you! There’ll be room for everyone in this spacious 40' Breckenridge Travel Trailer along with its air conditioned 150' addition, giving you a whopping 450' of living space. Plus the new covered porch is perfect for grillin' or chillaxin'. Parking is right in front of the trailer too for ease. This property comes fully furnished too! See supplements for complete list. Take in lake views & cruise the beautifully paved paths by foot or by golf cart to not just one, but two sandy beaches—ideal for soaking up the sun or letting the "littles" play. If that wasn't glorious enough, this association includes your own personal boat slip, laundry facilities, stainless steel fish cleaning room, gas on site to fuel the boats & jet skis, below ground concrete storm shelter, playground, kayak storage, private outdoor showers & bathrooms for guest overflow, community room & mini store currently under renovation, and so much more. Eden Acres is a Coop w/ 85 Shares on 21.5 acres. Buyer receives 1 Share in Coop. Whether you're looking for a weekend retreat or a full-season escape, this is your invitation to start making lifelong lake memories.

9. 2025-09-12
   historical
10. 2025-07-27
    price $116,900
11. 2025-07-11
    listed $126,900 Active
12. 2018-06-08
    soldstatus $83,000
13. 2018-04-02
    listed $84,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 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: $16,770
• − Mortgage interest: −$6,380
• − Property taxes: −$1,708
• − Insurance: −$570
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − HOA: −$1,200
• − Depreciation: −$3,313
• Taxable income: $915
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $2,383/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: Alexandria Public School District
• NCES district ID: 2703060
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 57% ▼ -9.00%
• Median HH income: $52,476
• Composite: 48.0/100
• National rank: #2197
• State rank: #64 of 301 in MN

Livability — Alexandria

• Score: 78/100
• State rank: #105
• US rank: #2409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Douglas County · 27,008 people
• City population: 27,008
• Metro: Alexandria, MN
• Population (ZIP): 27,008
• Household income: $78,177
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 550.0

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 38,913 people
• By 2030: 39,636 · +1.9%
• By 2040: 40,564 · +4.2%
• By 2050: 40,819 · +4.9%
• By 2075: 40,824 · +4.9%
• By 2100: 38,379 · -1.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 22% Lithuanian 3% Romanian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+35.1) · D 31.7% · R 66.8% · Other 1.4%
• 2008→2024 swing: -25.6pp toward R · 2008: -9.5pp · 2024: -35.1pp
• All cycles: 2024: R+35.1 2020: R+32.8 2016: R+35.8 2012: R+15.5 2008: R+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.15%
• Current HPI: 189.1595
• Rent YoY: —
• Metro: Alexandria, MN
• 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

+36.0% since first listed

8 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-06 Listed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-27 Price Changed $116,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-11 Listed $126,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-08 Sold (MLS) $83,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-02 Listed $84,500 NORTHSTARMLS as Distributed by MLS Grid