2442 Rice St #211 · Little Canada, MN 55113

$85,000

3 bd · 2.0 ba · 1,183 sqft · SingleFamily · 36 Days on market

Built 1996 Good condition 1,306 sqft lot $725/mo HOA · 39% of rent

---

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 +24.0/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome do this one-of-a-kind well-maintained 3 bedroom, 2 bathroom manufactured home in Terrace Heights on one of the best lots in the community! Enjoy a rare, private, expansive wraparound yard - prefect for relaxing, gardening, or entertaining. Major update include a new roof on the home and shed (2024), new HVAC, updated windows, fresh carpeting, and updated kitchen appliances. The beautifully established perennial gardens showcase the owner's green thumb and standout curb appeal. A great combination of updates, outdoor space, and pride of ownership. Priced to sell - don't miss this one!

Key facts

• New hvac
• Updated windows
• Perennial gardens

Tags

• PRIVATE WRAPAROUND YARD
• NEW ROOF
• NEW HVAC
• UPDATED WINDOWS
• UPDATED KITCHEN APPLIANCES
• PERENNIAL GARDENS

Property features AI

Finance

• Other: Other structures: storage shed
• HOA & community: Located in Terrace Heights association; Monthly association fee of $725 (includes water and sewer and other services); Land is leased (land lease payment $725)

Exterior

• Parking: Guest parking available; Off-site parking; On-street parking only
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service by Xcel Energy
• Home design: Manufactured home; Single-story; Entry level: main; Residential property
• Construction: Slab foundation; Foundation dimensions approximately 76 x 16; Roof replaced/aged 8 years or less; Above-grade finished area approximately 1,183 (main level)
• Exterior features: Vinyl exterior; Awning(s); Covered porch; Deck; Enclosed porch; Front porch; Porch; Screened porch (10x10); Porch (26x13); Storage shed; Corner lot; Medium tree coverage; Public transit within ~6 blocks; Association-maintained road

Interior

• Kitchen: Eat-in kitchen / kitchen-dining room layout; Dishwasher; Range; Microwave; Refrigerator; Stainless steel appliances; Exhaust fan
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms; Primary bathroom is full, private, and walk-through
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Vaulted ceilings; All living facilities on one level; Main floor primary bedroom; Primary bedroom walk-in closet; Walk-in closet; Washer/dryer hookup
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.5% in Little Canada — 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 78/100 on livability (#109 in MN, #2,510 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, crime A-; Watch: amenities F.
• Roseville Public School District (suburban): math 37% / reading 53% proficiency, ranked #170 of 301 in MN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 160 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.20% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.58% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-3,483
• Equity at exit: $12,674

10-year hold

• IRR: 5.4%
• Equity multiple: 1.39×
• Total profit: $9,340
• Equity at exit: $7,349

Cash invested: $23,800 (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 55113

• Rents YoY: 2.6%
• Active inventory: 160
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$725
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $166

Break-even live

Break-even rent $1,661

Max offer price $85,000

Occupancy floor 86%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2550 Rice St Saint Paul, MN	2.0–3.0	1.0–2.0	1118	$1,972	$1.76	2d	76	0.17mi
2345 Woodbridge St Roseville, MN	1.0–3.0	1.0–2.0	1113	$2,350	$2.11	2d	12	0.40mi
165 County Road B2 E Saint Paul, MN	2.0	1.0	727	$1,695	$2.33	5d	10	0.40mi
33 County Road C E Saint Paul, MN	2.0	1.0	960	$1,350	$1.41	44d	1	0.41mi
175 County Road B2 E #308 Saint Paul, MN	2.0	1.5	1300	$1,825	$1.40	5d	1	0.48mi
215 County Road B2 E Little Canada, MN	2.0	1.0	720	$1,684	$2.34	2d	32	0.56mi
2800 Rustic Pl Saint Paul, MN	1.0–3.0	1.0–2.0	1088	$2,495	$2.29	2d	17	0.62mi
2835 Rice St Saint Paul, MN	2.0	1.0–1.5	725	$1,930	$2.66	3d	14	0.72mi
185 N McCarrons Blvd Roseville, MN	2.0	2.0	1254	$1,625	$1.30	24d	1	1.07mi
560 Sandhurst Dr W Roseville, MN	1.0–2.0	1.0–1.5	993	$1,905	$1.92	2d	22	1.11mi
166 McCarrons Blvd N Saint Paul, MN	2.0	1.0	900	$1,247	$1.39	44d	1	1.11mi
166 N McCarrons Blvd Unit 166-01 Roseville, MN	2.0	1.0	900	$1,144	$1.27	24d	1	1.11mi
396 Labore Rd Saint Paul, MN	3.0	1.0–1.5	775	$1,815	$2.34	12d	25	1.21mi
2093 Bradley St Maplewood, MN	2.0–3.0	1.5	1250	$2,195	$1.76	12d	2	1.42mi
479 Skillman Ave E Maplewood, MN	2.0	1.0	750	$1,505	$2.01	44d	13	1.42mi
679 Eldridge Ave W Saint Paul, MN	3.0	1.0	1133	$2,279	$2.01	12d	1	1.47mi

HOA detail

• Monthly dues: $725 · $8,700/yr

Listing history 3 events

1. 2026-05-07
   status Pending
2. 2026-04-29
   historical Contingent - Inspection
3. 2026-04-01
   listed $85,000 Active

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,464
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − HOA: −$8,700
• − Depreciation: −$2,473
• Taxable income: $1,236
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $1,701/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom manufactured home offers a good condition with recent updates, including a new roof and HVAC, and a private, landscaped yard.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen flooring — new flooring improves functionality and appearance
• Both update bathroom fixtures — modern fixtures increase appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen flooring — new flooring improves functionality and appearance ↑
• Both update bathroom fixtures — modern fixtures increase appeal and functionality ↑

ⓘ 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: Roseville Public School District
• NCES district ID: 2732430
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $57,709
• Composite: 39.32/100
• National rank: #3988
• State rank: #170 of 301 in MN

Livability — Little Canada

• Score: 78/100
• State rank: #109
• US rank: #2510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Little Canada, MN
• County: Ramsey County · 542,837 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 40,819
• Household income: $86,792
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1516.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 9% Black 8% Asian 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 3%
• Foreign-born: 12% · Canada, China, Philippines
• Languages at home: 84% English-only · Spanish 3% Other Asian/Pacific 3% Other Indo-European 2%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.68%
• Current HPI: 239.5345
• Rent YoY: ▲ 2.58%
• 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

3 events — show timeline

• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid