46112 County Highway 14 · Otto, MN 56573

$299,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 25 Days on market

Built 2017 4.03 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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• DSCR +4.0/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 46112 County Highway 14, Perham, MN — a charming rural property offering the perfect mix of comfort, functionality, and peaceful country living near beautiful Rush Lake. This well-maintained 3-bedroom, 2-bath home is full of character with countless small rustic details throughout that create a warm and inviting atmosphere. The property features a massive 30x50 attached heated 3-stall garage, along with an additional 30x20 shop — perfect for hobbies, storage, projects, or extra workspace. Two additional storage sheds provide even more room for equipment and outdoor essentials. Outside, you’ll fall in love with the meticulously maintained yard featuring establish

Key facts

• Open green space
• Additional shop
• Storage sheds

Tags

• ATTACHED HEATED GARAGE
• ADDITIONAL SHOP
• STORAGE SHEDS
• ESTABLISHED STRAWBERRY BEDS
• MATURE TREES
• OPEN GREEN SPACE

Property features AI

Finance

• Other: Lot about 4.034 acres (approx. dimensions 640 x 274 x 639 x 274); Directions: South of Perham on Hwy 78 to 14 East 2 miles, just west of St. Lawrence Church

Exterior

• Parking: Attached heated and insulated garage with garage door opener; 3 garage spaces; Garage floor drain; Asphalt driveway; Garage approximately 30x50 (about 1,500 sq ft)
• Utilities: Drilled water source; Private sewer with tank and drainage field; Propane fuel; Electric service with circuit breakers (Lake Region Electric Co-op)
• Home design: Residential property; Single-story (one level); Manufactured home
• Construction: Asphalt roof; Pillar/post/pier foundation; Above-grade finished area about 1,568; Main level finished area about 1,568; Building total area about 1,568; Built as a manufactured home
• Exterior features: Vinyl exterior; Deck; Front porch; Additional structures: garage(s), storage shed, other

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: Two 3/4 bathrooms (including primary 3/4 with walk-in shower and a main floor 3/4 bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Water softener (owned); Fuel tank (rented)
• Laundry & utility: Washer and dryer included; Main level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $299k.

Deal economics

• At list price, monthly cash flow is $-7 ($-82/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (23.5% below list).
• Recommended offer: $229k (23.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 140 units permitted in Otter Tail County in 2024 (48 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 $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $15k; list at $299k implies a 1893% gain — meaningful room to come down on a strong offer.

Recommended offer $228,717 (23.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.76% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 10.9

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-49,009
• Equity at exit: $44,582

10-year hold

• IRR: -8.4%
• Equity multiple: 0.48×
• Total profit: $-43,731
• Equity at exit: $25,852

Cash invested: $83,720 (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 56573

• Home prices YoY: -15.8%
• Active inventory: 92
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,287 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$121 /mo · $1,454/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-7

Break-even live

Break-even rent $2,296

Max offer price $297,786

Occupancy floor 95%

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-02
   status $299,000 Pending 25 DOM
2. 2026-06-01
   days on market $299,000 Contingent - Inspection 25 DOM
3. 2026-05-31
   days on market $299,000 Contingent - Inspection 24 DOM
4. 2026-05-31
   days on market $299,000 Contingent - Inspection 23 DOM
5. 2026-05-07
   listed $299,000 Active 1117-char remark
6. 2026-05-04
   historical
7. 2026-04-22
   price $315,000
8. 2026-03-09
   price $335,000
9. 2026-02-02
   listed $345,000 Active
10. 2003-01-03
    soldstatus $15,000

ⓘ 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: $1,454 · $121/mo
• Projected year-2 tax: $2,401 · $200/mo
• Expected delta: +$947/yr (+$79/mo · 65.2%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,446
• − Mortgage interest: −$16,749
• − Property taxes: −$1,454
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,196
• − Management: −$2,196
• − Depreciation: −$8,698
• Taxable loss: −$5,341
• Est. tax savings @ 24.0%: +$1,282
• After-tax cash flow: $1,199/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: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Otto

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 6,868

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.48%
• Current HPI: 225.7071
• 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

+1893.3% since first listed

8 events — show timeline

• 2026-06-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-09 Price Changed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-02 Listed $345,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-03 Sold (Public Records) $15,000 Public Records

Property tax history

+21.9%/yr

Latest (2025): $1,454 · -9.2% YoY. Source: county tax records.