10488 Pierce St NE · Blaine, MN 55434

$135,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 79 Days on market

Manufactured home Built 2019 Good condition $93/sqft · 63% below area $1050/mo HOA · 63% of rent ↓ 10% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• 1% rule +7.3/10.0
• Schools +5.5/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Cash flow +0.6/30.0
• DSCR +0.0/10.0
• Manufactured-home adj. -2.8

Listing remarks

Come check out this recently manufactured 2019 home on a corner lot, immediately adjacent to the community park! This property has been wonderfully maintained by its original owners. The living room, kitchen, and dining area are all bathed in natural light, and intentionally designed for entertaining and hosting, when desired. The kitchen holds plenty of cabinetry, ventilation, and a large center island. The primary bedroom is situated on the opposite end of the other bedrooms, creating a clear separation of living. In one of the premier manufactured home communities in the state, Blaine Int'l is affordable and prioritizes your safety and comfort.

Key facts

• Built 2019
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-583 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $32k (76.3% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $32k (76.3% below list) — sets the bar for cash-flow.
• Cap rate 1.1% vs local median 3.9% in Blaine — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Madison Elementary (math 57% / reading 62%, grade B-, #216 of 857 statewide, top 29%, 407 students, 55% FRL); Northdale Middle (math 40% / reading 55%, grade C-, #93 of 258 statewide, top 37%, 1,274 students, 46% FRL); Blaine High School (math 46% / reading 67%, grade C, #77 of 471 statewide, top 17%, 2,969 students, 37% FRL) — zoned schools average 46% FRL vs 24% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 182 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 63% of rent.

Recommended offer $31,930 (76.3% 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 79 days. Have you received any prior offers? Is the seller open to a 76% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.11%
• Cash-on-cash: -18.52%
• DSCR: 0.18
• GRM: 6.8

CMA / ARV

• ARV (median comp): $322,924
• List price: $135,000
• Delta: -58.19%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
960 105th Ave NE	0.24mi	3/2.0	1,750 (+20%)	60mo	$320,000	$183	44
9328 6th St NE	1.73mi	4/1.0 (+1)	1,386 (-5%)	10mo	$309,900	$224	40
854 113th Ln NE	1.15mi	3/2.0	1,516 (+4%)	57mo	$350,000	$231	38
191 91st Ln NE	1.88mi	2/1.0 (-1)	1,333 (-8%)	8mo	$315,000	$236	35
648 120th Ave NE	2.02mi	4/2.0 (+1)	1,506 (+3%)	52mo	$320,000	$212	34
11122 7th St NE	1.27mi	3/1.0	1,281 (-12%)	31mo	$297,000	$232	21
801 118th Ln NE	1.85mi	3/2.0	1,890 (+30%)	39mo	$385,000	$204	20
684 107th Ln NW	2.09mi	4/2.0 (+1)	1,865 (+28%)	45mo	$345,000	$185	15
11122 Aberdeen St NE Unit A	0.82mi	2/2.0 (-1)	1,834 (+26%)	47mo	$285,000	$155	15
12210 Johnson St NE	2.16mi	2/2.0 (-1)	1,696 (+16%)	56mo	$271,000	$160	15
8901 7th St NE	2.14mi	5/1.0 (+2)	1,724 (+18%)	56mo	$274,900	$159	6

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 · 4.79% rent growth · sell at horizon

5-year hold

• IRR: -46.9%
• Equity multiple: -0.46×
• Total profit: $-55,367
• Equity at exit: $20,129

10-year hold

• IRR: -51.0%
• Equity multiple: -1.13×
• Total profit: $-80,565
• Equity at exit: $11,672

Cash invested: $37,800 (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 55434

• Rents YoY: 4.8%
• Active inventory: 182
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,664 high
• Mortgage (P&I): −$708
• Tax from tax record: −$84 /mo · $1,009/yr
• Insurance: −$56
• HOA: −$1,050
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-583

Break-even live

Break-even rent $2,403

Max offer price $31,930

Occupancy floor —

Sensitivity live

Price	-10% $-507	-5% $-545	+0% $-583	+5% $-622	+10% $-660
Rent	-10% $-715	-5% $-649	+0% $-583	+5% $-518	+10% $-452
Rate	-1.0pp $-515	-0.5pp $-549	base $-583	+0.5pp $-618	+1.0pp $-654

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: $33,750
• Closing costs: $4,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9941 Fillmore St NE Minneapolis, MN	2.0	1.0	1080	$1,875	$1.74	15d	1	0.64mi
11151 Aberdeen St NE Unit H Blaine, MN	2.0	2.5	1700	$2,400	$1.41	7d	1	0.89mi
11151 Aberdeen St NE Unit H Minneapolis, MN	2.0	2.5	1700	$2,400	$1.41	21d	1	0.89mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1792	$2,500	$1.40	51d	1	0.91mi
1509 111th Dr NE Unit D Minneapolis, MN	3.0	3.0	1800	$2,500	$1.39	61d	1	0.91mi
10760 6th St NE Blaine, MN	1.0–2.0	1.0	762	$1,535	$2.01	7d	17	1.12mi
249 99th Ave NE Unit 241-307 Blaine, MN	2.0	1.0	875	$1,445	$1.65	69d	1	1.16mi
249 99th Ave NE Unit 249-308 Blaine, MN	2.0	1.0	875	$1,430	$1.63	93d	1	1.16mi
249 99th Ave NE Unit 241-107 Blaine, MN	2.0	1.0	875	$1,445	$1.65	93d	1	1.16mi
10240 3rd St NE Unit D Blaine, MN	3.0	2.5	1846	$2,395	$1.30	7d	1	1.20mi
9436 Ulysses St NE Blaine, MN	3.0	1.0–2.0	943	$2,520	$2.67	7d	14	1.24mi
9401 Polk St NE Blaine, MN	3.0	1.0–2.0	918	$1,999	$2.18	7d	4	1.33mi
10631 Dogwood St NW Minneapolis, MN	3.0	1.0	972	$1,824	$1.88	16d	1	1.44mi

Property features AI

Finance

• HOA & community: Blaine International Village communityMonthly association fee of $1,050 (includes water and sewer)Land is leased with a monthly land lease of $1,050

Exterior

• Parking: Concrete parking (no garage or carport)
• Utilities: City water connectedCity sewer connectedNatural gas
• Home design: Residential manufactured homeSingle-story (one level)Entry level: Main
• Construction: Built on other foundation (foundation type: Other)Foundation dimensions approximately 50.25 x 25.42Roof age 8 years or newer
• Exterior features: Vinyl exteriorPaved streets and private road frontage; association maintains the roadOther on-site structures

Interior

• Kitchen: DishwasherMicrowaveRangeRefrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms, including a full primary bath on the main level
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Kitchen/Dining room layoutKitchen center island
• Laundry & utility: In-unit laundry with washer and dryerGas water heater

Listing history 50 events

1. 2026-08-08
   days on market $135,000 Active 79 DOM
2. 2026-08-06
   days on market $135,000 Active 77 DOM
3. 2026-08-05
   days on market $135,000 Active 76 DOM
4. 2026-08-04
   days on market $135,000 Active 75 DOM
5. 2026-08-03
   days on market $135,000 Active 74 DOM
6. 2026-07-31
   days on market $135,000 Active 71 DOM
7. 2026-07-30
   days on market $135,000 Active 70 DOM
8. 2026-07-30
   days on market $135,000 Active 69 DOM
9. 2026-07-28
   days on market $135,000 Active 68 DOM
10. 2026-07-26
    days on market $135,000 Active 66 DOM
11. 2026-07-24
    days on market $135,000 Active 64 DOM
12. 2026-07-23
    price $135,000 Active 63 DOM
13. 2026-07-23
    days on market $140,000 Active 63 DOM
14. 2026-07-22
    days on market $140,000 Active 62 DOM
15. 2026-07-21
    days on market $140,000 Active 61 DOM
16. 2026-07-20
    days on market $140,000 Active 60 DOM
17. 2026-07-18
    days on market $140,000 Active 58 DOM
18. 2026-07-18
    days on market $140,000 Active 57 DOM
19. 2026-07-16
    days on market $140,000 Active 56 DOM
20. 2026-07-15
    days on market $140,000 Active 55 DOM
21. 2026-07-14
    days on market $140,000 Active 54 DOM
22. 2026-07-13
    days on market $140,000 Active 53 DOM
23. 2026-07-13
    days on market $140,000 Active 52 DOM
24. 2026-07-11
    days on market $140,000 Active 51 DOM
25. 2026-07-10
    days on market $140,000 Active 50 DOM
26. 2026-07-09
    days on market $140,000 Active 49 DOM
27. 2026-07-07
    days on market $140,000 Active 47 DOM
28. 2026-07-06
    days on market $140,000 Active 46 DOM
29. 2026-07-06
    days on market $140,000 Active 45 DOM
30. 2026-07-05
    days on market $140,000 Active 44 DOM
31. 2026-07-03
    days on market $140,000 Active 43 DOM
32. 2026-07-02
    days on market $140,000 Active 42 DOM
33. 2026-07-01
    days on market $140,000 Active 41 DOM
34. 2026-06-30
    days on market $140,000 Active 40 DOM
35. 2026-06-29
    days on market $140,000 Active 39 DOM
36. 2026-06-28
    days on market $140,000 Active 38 DOM
37. 2026-06-27
    days on market $140,000 Active 37 DOM
38. 2026-06-26
    days on market $140,000 Active 36 DOM
39. 2026-06-24
    days on market $140,000 Active 34 DOM
40. 2026-06-22
    days on market $140,000 Active 32 DOM
41. 2026-06-21
    days on market $140,000 Active 31 DOM
42. 2026-06-18
    days on market $140,000 Active 28 DOM
43. 2026-06-17
    days on market $140,000 Active 27 DOM
44. 2026-06-16
    days on market $140,000 Active 26 DOM
45. 2026-06-15
    days on market $140,000 Active 25 DOM
46. 2026-06-13
    days on market $140,000 Active 23 DOM
47. 2026-06-13
    days on market $140,000 Active 22 DOM
48. 2026-06-09
    days on market $140,000 Active 19 DOM
49. 2026-06-08
    days on market $140,000 Active 18 DOM
50. 2026-06-07
    days on market $140,000 Active 17 DOM

ⓘ 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: $1,009 · $84/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$252/yr (+$21/mo · 24.9%)

ⓘ 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 ≥100°F today · 14 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: $19,972
• − Mortgage interest: −$7,562
• − Property taxes: −$1,009
• − Insurance: −$675
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − HOA: −$12,600
• − Depreciation: −$3,927
• Taxable loss: −$8,997
• Est. tax savings @ 24.0%: +$2,159
• After-tax cash flow: $-4,842/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 80/100 Cosmetic rehab Est. rehab $7,280–$21,840 screening

This 2019 manufactured home is in excellent condition with modern updates and a well-maintained exterior. It's move-in ready and would benefit from landscaping and painting to further enhance its value.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes interior and exterior ↑
• Both HVAC maintenance — improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Madison Elementary B- MN #216/857 Nat'l #7,252/41,679 Middle Northdale Middle C- MN #93/258 Nat'l #4,042/14,009 High Blaine High School C MN #77/471 Nat'l #4,271/17,239

Schools (NCES district)

• District: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

B Composite livability gradescore 71/100

Livability — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 375,223 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 33,029
• Household income: $90,336
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 16% of renters

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Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Asian 10% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 5% Italian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Other Asian/Pacific 2% Vietnamese 2%

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Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -230.62%
• Current HPI: 254.0422
• Rent YoY: ▲ 4.79%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

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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

Property features AI

Finance

• HOA & community: Blaine International Village communityMonthly association fee of $1,050 (includes water and sewer)Land is leased with a monthly land lease of $1,050

Exterior

• Parking: Concrete parking (no garage or carport)
• Utilities: City water connectedCity sewer connectedNatural gas
• Home design: Residential manufactured homeSingle-story (one level)Entry level: Main
• Construction: Built on other foundation (foundation type: Other)Foundation dimensions approximately 50.25 x 25.42Roof age 8 years or newer
• Exterior features: Vinyl exteriorPaved streets and private road frontage; association maintains the roadOther on-site structures

Interior

• Kitchen: DishwasherMicrowaveRangeRefrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms, including a full primary bath on the main level
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Kitchen/Dining room layoutKitchen center island
• Laundry & utility: In-unit laundry with washer and dryerGas water heater

Price history

-10.0% since first listed

4 events — show timeline

• 2026-07-23 Price Changed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Coming Soon $150,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2026): $1,009 · -11.7% YoY. Source: county tax records.