227 4th Ave N · Waite Park, MN 56387

$89,900

2 bd · 1.0 ba · 854 sqft · SingleFamily public records · 2 Days on market

Built 1904 4,791 sqft lot

---

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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-Bedroom Home with Many Major Updates. This 2-bedroom, 1-bathroom home offers a functional and inviting layout. The main level features a spacious living room, kitchen, and informal dining area, providing comfortable space for everyday living and entertaining. Upstairs, you'll find two bedrooms that offer privacy and versatility. The home has seen many important improvements over the years, including updated windows, siding, shingles, and a remodeled bathroom. While these major updates provide a solid foundation, the home could benefit from some additional TLC and cosmetic updates, making it a great opportunity for buyers looking to build equity and add their personal touch. Wheth

Key facts

• Updated siding
• Remodeled bathroom
• Updated windows

Tags

• UPDATED WINDOWS
• UPDATED SIDING
• UPDATED SHINGLES
• REMODELED BATHROOM

Property features AI

Exterior

• Parking: Other parking
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers (Xcel Energy)
• Home design: Residential property; One-and-one-half story; Entry on main level
• Construction: Asphalt roof; Poured concrete foundation
• Exterior features: Metal exterior

Interior

• Kitchen: Refrigerator
• Bedrooms: Two bedrooms (both on the upper level)
• Bathrooms: One full bathroom; Main floor 3/4 bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Informal dining area; Partial basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.3% 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: 43 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $90k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 6.9

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $4,505
• Equity at exit: $13,404

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $28,411
• Equity at exit: $7,773

Cash invested: $25,172 (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 56387

• Home prices YoY: -20.5%
• Active inventory: 43
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,080 high
• Mortgage (P&I): −$471
• Tax from tax record: −$44 /mo · $530/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $300

Break-even live

Break-even rent $700

Max offer price $89,900

Occupancy floor 67%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Rivercrest Dr Unit 8-204 St Cloud, MN	1.0	1.0	660	$850	$1.29	44d	1	0.62mi
523 54th Ave N Saint Cloud, MN	1.0–3.0	1.0–2.0	910	$1,055	$1.16	43d	1	0.64mi
500 3rd St S Unit 105 Waite Park, MN	1.0	1.0	683	$978	$1.43	43d	1	0.72mi
500 3rd St S Unit 114 Waite Park, MN	2.0	1.0	900	$1,135	$1.26	43d	1	0.74mi
408 Park Meadows Dr Waite Park, MN	1.0–3.0	1.0	950	$1,148	$1.21	43d	9	0.84mi
843 Driftwood Dr Unit WW-2 St Cloud, MN	2.0	2.0	800	$975	$1.22	43d	1	0.93mi
601 7th St S Unit 306 Waite Park, MN	1.0	1.0	660	$750	$1.14	43d	1	1.20mi
813 7th St S Waite Park, MN	1.0–3.0	1.0–2.0	930	$1,218	$1.31	43d	5	1.20mi
690 Prosper Dr Waite Park, MN	2.0–3.0	1.0–2.0	1075	$1,211	$1.13	43d	21	1.38mi

Listing history 3 events

1. 2026-06-19
   days on market $89,900 Active 2 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $89,900 Active 1 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: $530 · $44/mo
• Projected year-2 tax: $768 · $64/mo
• Expected delta: +$238/yr (+$20/mo · 45.0%)

ⓘ 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 ≥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: $12,956
• − Mortgage interest: −$5,036
• − Property taxes: −$530
• − Insurance: −$450
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$2,615
• Taxable income: $2,252
• Est. tax owed @ 24.0%: −$541
• After-tax cash flow: $3,058/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: 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): 7,756
• Household income: $59,009
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 516.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 53% Black 38% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Portuguese 5% Italian 2% Romanian 1%
• Foreign-born: 23% · Canada
• Languages at home: 72% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -52.91%
• Current HPI: 204.8033
• Rent YoY: —
• 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

+199.9% since first listed

2 events — show timeline

• 2026-06-17 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 1991-05-30 Sold (Public Records) $29,975 Public Records

Property tax history

+4.7%/yr

Latest (2025): $530 · -1.5% YoY. Source: county tax records.