56885 290th St · Osage, MN 56470

$1

4 bd · 1.5 ba · 1,388 sqft · SingleFamily public records · 1 Days on market

Built 1950 4.10 ac 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful property with a lot of potential. This 4 bed, 1 bath home sits on 4 Acres with 400 ft. of lake shore, 2 garages, 1 garage has unfinished living quarters-perfect for a guest house!Home was being remodeled, sold before it was finished.With a little TLC, this home with beautiful views overlooking a private Island on Fools Lake.This property is being sold ''AS IS''

Key facts

• 4.1 acre lot
• 3 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

Location & tenants

• Location reads 62/100 on livability (#715 in MN) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: employment C-, health & safety C-, schools F.
• Park Rapids Public School District (rural): math 37% / reading 48% proficiency, ranked #206 of 301 in MN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 129 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

Questions for the listing agent

1. Built in 1950 — 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: 106525.00% ✓
• Cap rate: 1009855.00%
• Cash-on-cash: 3606602.53%
• DSCR: 160474.52
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 191482.37×
• Total profit: $53,615
• Equity at exit: $1

10-year hold

• IRR: —
• Equity multiple: 413463.29×
• Total profit: $115,769
• Equity at exit: $2

Cash invested: $0 (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 56470

• Home prices YoY: 5.8%
• Active inventory: 129

Monthly cashflow live

• Estimated rent: $1,065 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $842

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-27
   status Pending
2. 2026-03-30
   listed $1 Active
3. 2025-05-15
   listed $259,000 Active
4. 2018-04-13
   soldstatus $110,000
5. 2018-04-12
   soldstatus $110,000 373-char remark

   Show marketing remark (373 chars)

   Beautiful property with a lot of potential. This 4 bed, 1 bath home sits on 4 Acres with 400 ft. of lake shore, 2 garages, 1 garage has unfinished living quarters-perfect for a guest house!Home was being remodeled, sold before it was finished.With a little TLC, this home with beautiful views overlooking a private Island on Fools Lake.This property is being sold ''AS IS''

6. 2017-12-07
   listed $125,000 373-char remark

   Show marketing remark (373 chars)

   Beautiful property with a lot of potential. This 4 bed, 1 bath home sits on 4 Acres with 400 ft. of lake shore, 2 garages, 1 garage has unfinished living quarters-perfect for a guest house!Home was being remodeled, sold before it was finished.With a little TLC, this home with beautiful views overlooking a private Island on Fools Lake.This property is being sold ''AS IS''

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,783
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$0
• Taxable income: $10,738
• Est. tax owed @ 24.0%: −$2,577
• After-tax cash flow: $7,521/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: Park Rapids Public School District
• NCES district ID: 2728080
• Math proficiency: 37% ▼ -9.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $45,641
• Composite: 36.11/100
• National rank: #4751
• State rank: #206 of 301 in MN

Livability — Osage

• Score: 62/100
• State rank: #715
• US rank: #17177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,859

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 16% Romanian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.99%
• Current HPI: 294.1751
• 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

+107.2% since first listed

6 events — show timeline

• 2026-04-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Listed $1 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-15 Listed $259,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-13 Sold (Public Records) $110,000 Public Records
• 2018-04-12 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-07 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $1,872 · +9.3% YoY. Source: county tax records.