128 Park Cir · Ottertail, MN 56571

$69,900

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 153 Days on market

Built 1977 0.49 ac 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 +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Schools +4.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This versatile half acre lot offers a great opportunity with all the essentials already in place. The property includes a compliant septic system, city water, electric and natural gas hookups-making it ideal for future developments or immediate use. Currently the lot houses a 2 bedroom 1 bath manufactured home-perfect for rental income, a starter home, lake retreat or temporary living while you build new. Whether you are looking for a place to call home or a smart investment, this property checks those boxes, all on a corner lot! This offers a great location, near the lakes and all things OtterTail

Key facts

• Electric hookups
• City water
• Half acre lot

Tags

• HALF ACRE LOT
• COMPLIANT SEPTIC SYSTEM
• CITY WATER
• ELECTRIC HOOKUPS
• NATURAL GAS HOOKUPS
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 1.1% in Ottertail — 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 66/100 on livability (#504 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: health & safety C-, schools D, amenities F.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 71 active listings in the ZIP; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $3k appreciation (3.7% local appreciation)).
• At projected returns (3.7% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, 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 153 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.52%
• DSCR: 1.82
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.4%
• Equity multiple: 2.55×
• Total profit: $30,416
• Equity at exit: $34,381

10-year hold

• IRR: 26.4%
• Equity multiple: 4.98×
• Total profit: $77,976
• Equity at exit: $55,403

Cash invested: $19,572 (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 56571

• Home prices YoY: 1.8%
• Active inventory: 71
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $928 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$36 /mo · $426/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $302

Break-even live

Break-even rent $546

Max offer price $69,900

Occupancy floor 62%

Sensitivity live

Price	-10% $342	-5% $322	+0% $302	+5% $282	+10% $263
Rent	-10% $229	-5% $265	+0% $302	+5% $339	+10% $375
Rate	-1.0pp $337	-0.5pp $320	base $302	+0.5pp $284	+1.0pp $266

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-17
   status $69,900 Pending 153 DOM
2. 2026-06-17
   days on market $69,900 Contingent - Inspection 153 DOM
3. 2026-06-16
   days on market $69,900 Contingent - Inspection 152 DOM
4. 2026-06-15
   days on market $69,900 Contingent - Inspection 151 DOM
5. 2026-06-13
   days on market $69,900 Contingent - Inspection 149 DOM
6. 2026-06-12
   statusdays on market $69,900 Contingent - Inspection 148 DOM
7. 2026-06-09
   days on market $69,900 Active 145 DOM
8. 2026-06-08
   days on market $69,900 Active 144 DOM
9. 2026-06-07
   days on market $69,900 Active 143 DOM
10. 2026-06-07
    days on market $69,900 Active 142 DOM
11. 2026-06-04
    days on market $69,900 Active 139 DOM
12. 2026-06-02
    days on market $69,900 Active 138 DOM
13. 2026-06-01
    days on market $69,900 Active 137 DOM
14. 2026-05-31
    days on market $69,900 Active 136 DOM
15. 2026-05-31
    days on market $69,900 Active 135 DOM
16. 2026-01-15
    listed $69,900 Active 609-char remark

    Show marketing remark (609 chars)

    This versatile half acre lot offers a great opportunity with all the essentials already in place. The property includes a compliant septic system, city water, electric and natural gas hookups-making it ideal for future developments or immediate use. Currently the lot houses a 2 bedroom 1 bath manufactured home-perfect for rental income, a starter home, lake retreat or temporary living while you build new. Whether you are looking for a place to call home or a smart investment, this property checks those boxes, all on a corner lot! This offers a great location, near the lakes and all things OtterTail

17. 2025-11-30
    historical
18. 2025-07-28
    price $69,900
19. 2025-05-29
    listed $72,500 Active
20. 2020-07-07
    soldstatus $165,000
21. 2020-07-07
    soldstatus $207,500
22. 1996-02-14
    soldstatus $8,000

ⓘ 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: $426 · $36/mo
• Projected year-2 tax: $604 · $50/mo
• Expected delta: +$178/yr (+$15/mo · 41.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥98°F today · 13 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: $11,138
• − Mortgage interest: −$3,915
• − Property taxes: −$426
• − Insurance: −$350
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$2,033
• Taxable income: $2,632
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $2,993/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: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Ottertail

• Score: 66/100
• State rank: #504
• US rank: #12071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottertail, MN
• City population: 1,761
• Population (ZIP): 1,761

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 25% Scottish 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.74%
• Current HPI: 210.3053
• 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

+773.8% since first listed

7 events — show timeline

• 2026-01-15 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-28 Price Changed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-29 Listed $72,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-07 Sold (Public Records) $207,500 Public Records
• 2020-07-07 Sold (Public Records) $165,000 Public Records
• 1996-02-14 Sold (Public Records) $8,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $426 · -6.2% YoY. Source: county tax records.