7364 Lambert Ave NE · Otsego, MN 55301

$459,000

5 bd · 2.0 ba · 3,410 sqft · SingleFamily public records · 34 Days on market

Built 2004 10,454 sqft lot $135/sqft · 18% below area Est $572k · 20% 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 +15.0/15.0
• Cash flow +7.5/30.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location and potential in this big home. Main floor family room with fireplace. New carpet throughout. Nice backyard too. Finish lower level for instant equity. Tall ceiling, good look and feel. Main floor master bedroom and private bath.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2004

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces; Asphalt driveway
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; Two levels; Primary bedroom located on main floor
• Construction: Block foundation; Foundation drain tiled; Full basement with sump pump
• Exterior features: Vinyl exterior; Deck; In-ground sprinkler

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Stainless steel appliances; Center island
• Bedrooms: 5 bedrooms total; Primary bedroom on main floor; Bedroom 2 on lower level; Bedrooms 3, 4, and 5 on upper/main levels as noted in room layout
• Bathrooms: 2 full baths; 2 three-quarter baths; Primary bathroom on main level; Main floor full bath and main floor three-quarter bath; Upper level full bath; Walk-in shower stall; Basement bath access
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Wet bar; Kitchen center island; Kitchen window; Walk-in closets; Main floor primary bedroom; Washer/dryer hookup
• Laundry & utility: Washer (included); Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $459k.

Deal economics

• At list price, monthly cash flow is $-566 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $359k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (32.4% below list).
• Recommended offer: $310k (32.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($445k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $41k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; list at $459k implies a 162% gain — meaningful room to come down on a strong offer.

Recommended offer $310,114 (32.4% 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 34 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.68% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.29%
• DSCR: 0.76
• GRM: 12.3

CMA / ARV

• ARV (median comp): $571,791
• List price: $459,000
• Delta: -19.73%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6672 Lamplight Dr	0.71mi	5/3.0	3,196 (-6%)	12mo	$635,000	$199	42

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: -25.3%
• Equity multiple: 0.14×
• Total profit: $-110,480
• Equity at exit: $68,438

10-year hold

• IRR: -21.6%
• Equity multiple: -0.11×
• Total profit: $-142,827
• Equity at exit: $39,686

Cash invested: $128,520 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $3,101 medium
• Mortgage (P&I): −$2,407
• Tax from tax record: −$418 /mo · $5,012/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $-566

Break-even live

Break-even rent $3,818

Max offer price $359,003

Occupancy floor —

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $459,000 Active 34 DOM
2. 2026-06-17
   days on market $459,000 Active 33 DOM
3. 2026-06-16
   days on market $459,000 Active 32 DOM
4. 2026-06-15
   days on market $459,000 Active 31 DOM
5. 2026-06-13
   days on market $459,000 Active 29 DOM
6. 2026-06-13
   days on market $459,000 Active 28 DOM
7. 2026-06-09
   days on market $459,000 Active 25 DOM
8. 2026-06-08
   days on market $459,000 Active 24 DOM
9. 2026-06-07
   days on market $459,000 Active 23 DOM
10. 2026-06-04
    statusdays on market $459,000 Active 20 DOM
11. 2026-06-03
    days on market $459,000 Contingent - Inspection 19 DOM
12. 2026-06-02
    days on market $459,000 Contingent - Inspection 18 DOM
13. 2026-06-02
    status $459,000 Contingent - Inspection 17 DOM
14. 2026-06-01
    days on market $459,000 Active 17 DOM
15. 2026-05-31
    days on market $459,000 Active 16 DOM
16. 2026-05-16
    listed $500,000 Active 1266-char remark
17. 2026-05-15
    historical $500,000 1266-char remark
18. 2011-10-05
    soldstatus $175,000 244-char remark

    Show marketing remark (244 chars)

    Great location and potential in this big home. Main floor family room with fireplace. New carpet throughout. Nice backyard too. Finish lower level for instant equity. Tall ceiling, good look and feel. Main floor master bedroom and private bath.

19. 2011-08-11
    historical 244-char remark

    Show marketing remark (244 chars)

    Great location and potential in this big home. Main floor family room with fireplace. New carpet throughout. Nice backyard too. Finish lower level for instant equity. Tall ceiling, good look and feel. Main floor master bedroom and private bath.

20. 2011-06-13
    listed $179,900 244-char remark

    Show marketing remark (244 chars)

    Great location and potential in this big home. Main floor family room with fireplace. New carpet throughout. Nice backyard too. Finish lower level for instant equity. Tall ceiling, good look and feel. Main floor master bedroom and private bath.

21. 2004-07-08
    historical
22. 2004-06-15
    listed $73,900

ⓘ 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: $5,012 · $418/mo
• Projected year-2 tax: $5,076 · $423/mo
• Expected delta: +$64/yr (+$5/mo · 1.3%)

ⓘ 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 · 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,214
• − Mortgage interest: −$25,711
• − Property taxes: −$5,012
• − Insurance: −$2,295
• − Repairs & maintenance: −$2,977
• − Management: −$2,977
• − Depreciation: −$13,353
• Taxable loss: −$15,111
• Est. tax savings @ 24.0%: +$3,627
• After-tax cash flow: $-3,166/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• 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

+521.1% since first listed

10 events — show timeline

• 2026-06-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $459,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-16 Listed $500,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $500,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-05 Sold (MLS) $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-06-13 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-15 Listed $73,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $5,012 · -1.6% YoY. Source: county tax records.