1206 E Lake St · Osakis, MN 56360

$80,000

2 bd · 1.0 ba · 500 sqft · SingleFamily · 6 Days on market

Built 1950 Fair condition 1,960 sqft lot

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Why this score? — see what drove the C- 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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your hammer and tool belt and come grab yourself a rare piece of land on Osakis lake. Fixer-upper or teardown opportunity, the choice is yours! Blacks Resort has association fees that cover beach access, a dock, lawn care, parking space, sanitation, fish cleaning station, and playground to list a few. Also this is not co-op so you will own the land. Priced to sell and sold as-is. Take a look today!

Key facts

• 1,960 sq ft lot
• Built 1950
• Listed 6 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Electric fuel
• Home design: Residential property; One story
• Construction: 500 sq ft living area; 500 sq ft above-grade finished area; 500 sq ft building area total; Approximately 0.045-acre lot (dimensions: 40.5 x 50)
• Exterior features: Wood exterior

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-33 ($-400/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (6.0% below list).
• Meets the 1% rule at list price ($816 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for cash-flow.
• Cap rate 7.7% vs local median 2.2% in Osakis — 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 77/100 on livability (#130 in MN, #2,916 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Osakis Public School District (rural): math 58% / reading 52% proficiency, ranked #70 of 301 in MN (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Osakis Elementary (math 63% / reading 60%, grade B, #196 of 857 statewide, top 23%, 418 students, 46% FRL); Osakis Secondary (math 52% / reading 44%, grade D, #160 of 471 statewide, top 34%, 424 students, 36% FRL) — zoned schools average 41% FRL vs 23% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 68 active listings in the ZIP; 167 units permitted in Todd County in 2024 (78 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Todd County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,181 (6.0% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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. 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.
8. 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.
9. 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: 1.02% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 8.2

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-14,995
• Equity at exit: $11,928

10-year hold

• IRR: -11.4%
• Equity multiple: 0.31×
• Total profit: $-15,426
• Equity at exit: $6,917

Cash invested: $22,400 (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 56360

• Home prices YoY: -15.3%
• Active inventory: 68
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $816 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $-33

Break-even live

Break-even rent $858

Max offer price $75,181

Occupancy floor 99%

Sensitivity live

Price	-10% $22	-5% $-6	+0% $-33	+5% $-61	+10% $-89
Rent	-10% $-98	-5% $-66	+0% $-33	+5% $-1	+10% $31
Rate	-1.0pp $7	-0.5pp $-13	base $-33	+0.5pp $-54	+1.0pp $-75

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-17
   status $80,000 Pending 6 DOM
2. 2026-06-17
   days on market $80,000 Active 6 DOM
3. 2026-06-16
   days on market $80,000 Active 5 DOM
4. 2026-06-15
   days on market $80,000 Active 4 DOM
5. 2026-06-14
   days on market $80,000 Active 2 DOM
6. 2026-06-12
   statusdays on market $80,000 Active 1 DOM
7. 2026-06-09
   days on market $80,000 Coming Soon 3 DOM
8. 2026-06-08
   days on market $80,000 Coming Soon 2 DOM
9. 2026-06-07
   remarks 407-char remark
10. 2026-06-07
    listed $80,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥97°F today · 13 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: $9,794
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$1,902
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$2,327
• Taxable loss: −$1,684
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $5/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 · 4 photos

Fair 45/100 Moderate rehab

This single-family home requires significant exterior repairs and maintenance, including a new roof and repainting, to improve its condition and value.

Repairs flagged

• Major roof shingles — Weathered and damaged
• Major exterior siding — Peeling and damaged
• Major exterior paint — Peeling and deteriorating

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace roof shingles — Improves structural integrity and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof shingles · Weathered and damaged	Major	$15,000–50,000
exterior siding · Peeling and damaged	Major	$15,000–50,000
exterior paint · Peeling and deteriorating	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace roof shingles — Improves structural integrity and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Osakis Public School District
• NCES district ID: 2725140
• Math proficiency: 58% ▼ -5.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $48,292
• Composite: 46.8/100
• National rank: #2379
• State rank: #70 of 301 in MN

Livability — Osakis

• Score: 77/100
• State rank: #130
• US rank: #2916

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osakis, MN
• Population (ZIP): 3,738

Population outlook (Todd County) Hauer SSP2

• Today (2025): 22,202 people
• By 2030: 20,962 · -5.6%
• By 2040: 18,352 · -17.3%
• By 2050: 15,904 · -28.4%
• By 2075: 11,348 · -48.9%
• By 2100: 7,801 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 15% Romanian 4% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Todd

• 2024 margin: Solid R (+53.5) · D 22.5% · R 76.0% · Other 1.5%
• 2008→2024 swing: -42.4pp toward R · 2008: -11.1pp · 2024: -53.5pp
• All cycles: 2024: R+53.5 2020: R+48.8 2016: R+47.7 2012: R+16.1 2008: R+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.96%
• Current HPI: 194.0284
• 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

1 event — show timeline

• 2026-06-06 Coming Soon $80,000 NORTHSTARMLS as Distributed by MLS Grid