TBD 12788 Fremont Ave · Zimmerman, MN 55398

$250,000

6 bd · 2.0 ba · 1,949 sqft · SingleFamily · 247 Days on market

Built 1916 0.38 ac lot $128/sqft · 17% below area Est $300k · 17% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

VERY WELL CONSTRUCTED AND MAINTAINED OLDER HOME WITH LOTS OF CHARACTER-OPEN STAIRCASE WITH WIDE BASEBOARD WOODWORK. DET 2+ CAR GARAGE, ON A WOODED LOT. CLOSE TO SCHOOLS, CHURCHES, SHOPPING. CAN BE ZONED AS COMMERCIAL OR RESIDENTIAL. BUYER WOULD NEED TO GO THROUGH REZONING IF WANTING TO CHANGE BACK TO RESIDENTIAL. Currently being used as retail space and owner is open to someone who would like to use the building as it is currently being used. Will consider ALL offers. If the buyer wants to continue the current business the owner will introduce them to the current vendors. Just the building is for sale the owner will be keeping the business name.

Key facts

• 0.38 acre lot
• 2 garage spots
• Built 1916

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.2% in Zimmerman — 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 (#134 in MN, #3,004 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: 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: 180 active listings in the ZIP; solid renter incomes; 334 units permitted in Sherburne County in 2024 (58 in 5+ unit buildings).
• This rent runs 31% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 247 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 33y ago; this cycle's ask has dropped $100k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $250k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.05% ✓
• Cap rate: 7.97%
• Cash-on-cash: 6.00%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $300,114
• List price: $250,000
• Delta: -16.70%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-18,164
• Equity at exit: $37,276

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $13,069
• Equity at exit: $21,615

Cash invested: $70,000 (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 55398

• Home prices YoY: -20.7%
• Active inventory: 180
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,630 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $350

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 82%

Sensitivity live

Price	-10% $523	-5% $437	+0% $350	+5% $264	+10% $177
Rent	-10% $142	-5% $246	+0% $350	+5% $454	+10% $558
Rate	-1.0pp $476	-0.5pp $414	base $350	+0.5pp $285	+1.0pp $220

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $250,000 Active 247 DOM
2. 2026-06-17
   days on market $250,000 Active 246 DOM
3. 2026-06-16
   days on market $250,000 Active 245 DOM
4. 2026-06-15
   days on market $250,000 Active 244 DOM
5. 2026-06-13
   days on market $250,000 Active 242 DOM
6. 2026-06-13
   pricedays on market $250,000 Active 241 DOM
7. 2026-06-09
   days on market $330,000 Active 238 DOM
8. 2026-06-08
   days on market $330,000 Active 237 DOM
9. 2026-06-07
   days on market $330,000 Active 236 DOM
10. 2026-06-04
    days on market $330,000 Active 233 DOM
11. 2026-06-03
    days on market $330,000 Active 232 DOM
12. 2026-06-02
    days on market $330,000 Active 231 DOM
13. 2026-06-01
    days on market $330,000 Active 230 DOM
14. 2026-05-31
    days on market $330,000 Active 229 DOM
15. 2026-04-13
    price $330,000 653-char remark

    Show marketing remark (653 chars)

    VERY WELL CONSTRUCTED AND MAINTAINED OLDER HOME WITH LOTS OF CHARACTER-OPEN STAIRCASE WITH WIDE BASEBOARD WOODWORK. DET 2+ CAR GARAGE, ON A WOODED LOT. CLOSE TO SCHOOLS, CHURCHES, SHOPPING. CAN BE ZONED AS COMMERCIAL OR RESIDENTIAL. BUYER WOULD NEED TO GO THROUGH REZONING IF WANTING TO CHANGE BACK TO RESIDENTIAL. Currently being used as retail space and owner is open to someone who would like to use the building as it is currently being used. Will consider ALL offers. If the buyer wants to continue the current business the owner will introduce them to the current vendors. Just the building is for sale the owner will be keeping the business name.

16. 2025-10-15
    listed $350,000 Active 653-char remark

    Show marketing remark (653 chars)

    VERY WELL CONSTRUCTED AND MAINTAINED OLDER HOME WITH LOTS OF CHARACTER-OPEN STAIRCASE WITH WIDE BASEBOARD WOODWORK. DET 2+ CAR GARAGE, ON A WOODED LOT. CLOSE TO SCHOOLS, CHURCHES, SHOPPING. CAN BE ZONED AS COMMERCIAL OR RESIDENTIAL. BUYER WOULD NEED TO GO THROUGH REZONING IF WANTING TO CHANGE BACK TO RESIDENTIAL. Currently being used as retail space and owner is open to someone who would like to use the building as it is currently being used. Will consider ALL offers. If the buyer wants to continue the current business the owner will introduce them to the current vendors. Just the building is for sale the owner will be keeping the business name.

17. 2025-10-08
    historical $350,000 653-char remark

    Show marketing remark (653 chars)

    VERY WELL CONSTRUCTED AND MAINTAINED OLDER HOME WITH LOTS OF CHARACTER-OPEN STAIRCASE WITH WIDE BASEBOARD WOODWORK. DET 2+ CAR GARAGE, ON A WOODED LOT. CLOSE TO SCHOOLS, CHURCHES, SHOPPING. CAN BE ZONED AS COMMERCIAL OR RESIDENTIAL. BUYER WOULD NEED TO GO THROUGH REZONING IF WANTING TO CHANGE BACK TO RESIDENTIAL. Currently being used as retail space and owner is open to someone who would like to use the building as it is currently being used. Will consider ALL offers. If the buyer wants to continue the current business the owner will introduce them to the current vendors. Just the building is for sale the owner will be keeping the business name.

18. 1997-07-14
    historical
19. 1997-04-25
    listed $105,900
20. 1993-12-10
    soldstatus $79,000
21. 1993-10-25
    historical
22. 1993-07-02
    listed $79,900

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

Taxation est. · year 1

• Rental income: $31,564
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$7,273
• Taxable income: $237
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $4,146/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 — Zimmerman

• Score: 77/100
• State rank: #134
• US rank: #3004

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zimmerman, MN
• County: Sherburne County · 120,363 people
• City population: 17,688
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 17,688
• Household income: $103,419
• Rent vs Own: 9.7% rent · 90.3% own
• Severe rent burden: 176.0

Population outlook (Sherburne County) Hauer SSP2

• Today (2025): 97,402 people
• By 2030: 99,341 · +2.0%
• By 2040: 101,188 · +3.9%
• By 2050: 99,214 · +1.9%
• By 2075: 88,700 · -8.9%
• By 2100: 72,241 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Portuguese 18% Romanian 5% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Sherburne

• 2024 margin: Solid R (+34.9) · D 31.7% · R 66.6% · Other 1.7%
• 2008→2024 swing: -16.7pp toward R · 2008: -18.2pp · 2024: -34.9pp
• All cycles: 2024: R+34.9 2020: R+32.6 2016: R+37.0 2012: R+22.1 2008: R+18.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.73%
• Current HPI: 263.741
• 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

+313.0% since first listed

8 events — show timeline

• 2026-04-13 Price Changed $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-15 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-08 Coming Soon $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-07-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-04-25 Listed $105,900 NORTHSTARMLS as Distributed by MLS Grid
• 1993-12-10 Sold (MLS) $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 1993-10-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-07-02 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid