94 Belmar St · Waite Park, MN 56301

$66,900

3 bd · 2.0 ba · 1,088 sqft · Manufactured · 100 Days on market

Built 2026 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bel Clare Estates is surrounded with amazing local wildlife and breath-taking sceneries. Our community is located just outside of Waite and Quarry Parks and The Crossroads shopping center. Residents feel at home as they take advantage of our amenities which include: an onsite playground, fenced-in storage area, 2 storm shelters, 2 city bus stops, and a clubhouse that is available for any of our residents to utilize! Come see for yourself why our residents love to call Bel Clare Estates home!

Key facts

• Built 2026
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $67k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $61k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 4.2% in Waite Park — 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 80/100 on livability (#83 in MN, #1,944 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime C-, employment D, schools F.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 218 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $60,879 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.19% ✓
• Cap rate: 18.80%
• Cash-on-cash: 44.67%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: 42.1%
• Equity multiple: 2.82×
• Total profit: $34,154
• Equity at exit: $9,975

10-year hold

• IRR: 48.5%
• Equity multiple: 5.77×
• Total profit: $89,344
• Equity at exit: $5,784

Cash invested: $18,732 (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 56301

• Rents YoY: 3.4%
• Active inventory: 218
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,468 medium
• Mortgage (P&I): −$351
• Tax est. 1.5%: −$84 /mo · $1,004/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $697

Break-even live

Break-even rent $585

Max offer price $66,900

Occupancy floor 48%

Sensitivity live

Price	-10% $743	-5% $720	+0% $697	+5% $674	+10% $651
Rent	-10% $581	-5% $639	+0% $697	+5% $755	+10% $813
Rate	-1.0pp $731	-0.5pp $714	base $697	+0.5pp $680	+1.0pp $662

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
94 Belmar St Unit 94BEL St Cloud, MN	3.0	2.0	1088	$1,449	$1.33	44d	1	0.03mi
47 Claremont St Unit 47CMT St Cloud, MN	3.0	2.0	1216	$1,439	$1.18	44d	1	0.04mi
57 Arbor St Unit 57AR St Cloud, MN	3.0	2.0	1056	$1,259	$1.19	44d	1	0.08mi

Listing history 17 events

1. 2026-06-19
   days on market $66,900 Active 100 DOM
2. 2026-06-18
   days on market $66,900 Active 99 DOM
3. 2026-06-17
   days on market $66,900 Active 98 DOM
4. 2026-06-16
   days on market $66,900 Active 97 DOM
5. 2026-06-15
   days on market $66,900 Active 96 DOM
6. 2026-06-14
   days on market $66,900 Active 94 DOM
7. 2026-06-13
   days on market $66,900 Active 93 DOM
8. 2026-06-10
   days on market $66,900 Active 91 DOM
9. 2026-06-09
   days on market $66,900 Active 90 DOM
10. 2026-06-08
    days on market $66,900 Active 89 DOM
11. 2026-06-07
    days on market $66,900 Active 88 DOM
12. 2026-06-03
    days on market $66,900 Active 84 DOM
13. 2026-06-02
    days on market $66,900 Active 83 DOM
14. 2026-06-01
    days on market $66,900 Active 82 DOM
15. 2026-05-31
    days on market $66,900 Active 81 DOM
16. 2026-05-30
    days on market $66,900 Active 80 DOM
17. 2026-03-11
    listed $66,900 Active 496-char remark

    Show marketing remark (496 chars)

    Bel Clare Estates is surrounded with amazing local wildlife and breath-taking sceneries. Our community is located just outside of Waite and Quarry Parks and The Crossroads shopping center. Residents feel at home as they take advantage of our amenities which include: an onsite playground, fenced-in storage area, 2 storm shelters, 2 city bus stops, and a clubhouse that is available for any of our residents to utilize! Come see for yourself why our residents love to call Bel Clare Estates home!

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,614
• − Mortgage interest: −$3,747
• − Property taxes: −$1,004
• − Insurance: −$334
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$1,946
• Taxable income: $7,764
• Est. tax owed @ 24.0%: −$1,863
• After-tax cash flow: $6,504/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This home is in good condition with a good condition score of 75. It has a cosmetic rehab level and requires minor maintenance and some updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace carpet in living areas — New carpet can improve comfort and add value to the home.
• Both Install smart home devices — Smart home devices can increase convenience and appeal to potential buyers/renters.
• Both Upgrade kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace carpet in living areas — New carpet can improve comfort and add value to the home. ↑
• Both Install smart home devices — Smart home devices can increase convenience and appeal to potential buyers/renters. ↑
• Both Upgrade kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — Waite Park

• Score: 80/100
• State rank: #83
• US rank: #1944

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waite Park, MN
• County: Stearns County · 90,226 people
• City population: 7,756
• Metro: St. Cloud, MN
• Population (ZIP): 35,580
• Household income: $73,142
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1831.0

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 20% Hispanic / Latino 6% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Portuguese 6% Romanian 4% Lithuanian 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 4% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.70%
• Current HPI: 148.6882
• Rent YoY: ▲ 3.38%
• Metro: St. Cloud, 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

1 event — show timeline

• 2026-03-11 Listed $66,900 Zillow