24265 Woodland Ln · Detroit Lakes, MN 56501

$349,900

1 bd · 1.0 ba · 513 sqft · SingleFamily public records · 3 Days on market

Built 1956 0.32 ac lot

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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).

• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Woodland Ridge Cabin offers a great opportunity to get a seasonal cabin on 2 lakes! Cabin is on Lake Sallie but you get the bonus of having the lot across the road on Lake Munson. Great views and plenty of parking for all your friends to visit the lake. Deck overlooking the lake, fire pit, dog kennel, great fishing from the dock on either lake. Come and experience summers at the lake! (Owner/Agent)

Key facts

• Lake sallie
• Fire pit
• Lake munson

Tags

• LAKE SALLIE
• LAKE MUNSON
• DECK OVERLOOKING THE LAKE
• FIRE PIT
• DOG KENNEL
• FISHING FROM THE DOCK

Property features AI

Finance

• Other: On-waterfront property with lake frontage (sand bottom) — approximately 67 feet of shoreline

Exterior

• Parking: Driveway with non-standard surface
• Utilities: Well water; Holding tank sewer; Electric service from City of Detroit Lakes; Fuel source: Other
• Home design: Residential property; One story; Main level entry
• Construction: Pillar/post/pier foundation; Foundation dimensions approximately 27 x 10; Built on a 270 sq ft foundation area
• Exterior features: Deck; Wood exterior; Accessible shoreline

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level); Sun room on the main level
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Space heater; Window air conditioning units
• Interior features: Electric water heater; Microwave; Range; Refrigerator
• Laundry & utility: No laundry hookups (none listed)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (30.0% below list).
• Recommended offer: $245k (30.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#78 in MN, #1,847 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Detroit Lakes Public School District (town): math 44% / reading 50% proficiency, ranked #155 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 301 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $92k; list at $350k implies a 280% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $244,775 (30.0% 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. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.70% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.69%
• DSCR: 0.88
• GRM: 11.9

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: -20.8%
• Equity multiple: 0.28×
• Total profit: $-70,814
• Equity at exit: $52,171

10-year hold

• IRR: -14.3%
• Equity multiple: 0.18×
• Total profit: $-80,188
• Equity at exit: $30,253

Cash invested: $97,972 (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 56501

• Active inventory: 301
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $2,448 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$173 /mo · $2,072/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-220

Break-even live

Break-even rent $2,726

Max offer price $311,098

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-14
   listed $349,900 Active 405-char remark
2. 2009-01-05
   soldstatus $92,000
3. 1996-09-04
   soldstatus $30,000
4. 1994-06-14
   soldstatus $30,000

ⓘ 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: $2,072 · $173/mo
• Projected year-2 tax: $2,995 · $250/mo
• Expected delta: +$923/yr (+$77/mo · 44.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 6 d/yr ≥95°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,373
• − Mortgage interest: −$19,600
• − Property taxes: −$2,072
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,350
• − Management: −$2,350
• − Depreciation: −$10,179
• Taxable loss: −$8,927
• Est. tax savings @ 24.0%: +$2,142
• After-tax cash flow: $-493/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: Detroit Lakes Public School District
• NCES district ID: 2710230
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $50,571
• Composite: 40.33/100
• National rank: #3746
• State rank: #155 of 301 in MN

Livability — Detroit Lakes

• Score: 80/100
• State rank: #78
• US rank: #1847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 18,239
• Population (ZIP): 18,239

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Native American 2%
• Common ancestry: Portuguese 25% Scottish 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.40%
• Current HPI: 217.4973
• 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

+1066.3% since first listed

5 events — show timeline

• 2026-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $349,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-05 Sold (Public Records) $92,000 Public Records
• 1996-09-04 Sold (Public Records) $30,000 Public Records
• 1994-06-14 Sold (Public Records) $30,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,072 · -2.9% YoY. Source: county tax records.