10695 51st St NE · Albertville, MN 55301

$429,900

5 bd · 2.0 ba · 1,234 sqft · SingleFamily public records · 28 Days on market

Built 2016 10,411 sqft lot $348/sqft · 88% above area Est $412k · at est. $33/mo HOA · 1% of rent ↓ 13% since listing

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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 +15.2/30.0
• Schools +5.8/10.0
• ARV discount +5.6/15.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

Key facts

• 0.24 acre lot
• 3 garage spots
• Built 2016

Property features AI

Finance

• Financial info: VA mortgage assumed available
• HOA & community: Homeowners association (FFH) with annual fee of $400; HOA fee covers grounds maintenance and snow removal

Exterior

• Parking: Attached garage with 3 garage spaces
• Utilities: City water connected; City sewer connected; 200+ amp electric service; Xcel Energy service; Natural gas
• Home design: Residential split-entry (bi-level) home; Main entry level and lower level living areas
• Construction: Poured concrete foundation; Asphalt roof (over 8 years old)
• Exterior features: Deck; Stone, metal and vinyl exterior; Chain link, full and invisible fencing; Cleared lot; Lot dimensions approximately 75 x 140 x 75 x 140; Association-maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances; Eat-in kitchen
• Bedrooms: 5 bedrooms total (includes main-level primary and additional bedrooms on upper and lower levels); Bedroom sizes include 14x13, 12x11, 11x11, 12x14, 11x14
• Bathrooms: 3 full bathrooms including main floor full bath and an ensuite; Basement full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Primary bedroom on the main floor; Primary bedroom suite; Eat-in kitchen; Water softener owned; Drain-tiled basement with sump pump; 3 bedrooms on one level
• Laundry & utility: Washer and dryer hookups; Washer included; Dryer included; Laundry room on lower level (13x11); Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $430k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $341k (20.7% below list).
• Recommended offer: $341k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.9% in Albertville — 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 75/100 on livability (#206 in MN, #4,356 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities D, commute F.
• St. Michael-Albertville School District (rural): math 62% / reading 66% proficiency, ranked #17 of 301 in MN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 9% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 32% of the median local income ($129k/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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $341,097 (20.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.51%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

• ARV (median comp): $412,218
• List price: $429,900
• Delta: 4.29%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-60,250
• Equity at exit: $64,099

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-40,930
• Equity at exit: $37,170

Cash invested: $120,372 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,411 medium
• Mortgage (P&I): −$2,254
• Tax from tax record: −$77 /mo · $924/yr
• Insurance: −$179
• HOA: −$33
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $151

Break-even live

Break-even rent $3,220

Max offer price $429,900

Occupancy floor 91%

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: $107,475
• Closing costs: $12,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5055 Lander Ave NE Albertville, MN	2.0–5.0	2.0–3.5	2067	$4,082	$1.97	2d	7	0.73mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: electric

Listing history 34 events

1. 2026-06-18
   days on market $429,900 Active 28 DOM
2. 2026-06-17
   days on market $429,900 Active 27 DOM
3. 2026-06-16
   days on market $429,900 Active 26 DOM
4. 2026-06-15
   days on market $429,900 Active 25 DOM
5. 2026-06-13
   days on market $429,900 Active 23 DOM
6. 2026-06-13
   days on market $429,900 Active 22 DOM
7. 2026-06-09
   days on market $429,900 Active 19 DOM
8. 2026-06-08
   days on market $429,900 Active 18 DOM
9. 2026-06-07
   days on market $429,900 Active 17 DOM
10. 2026-06-04
    days on market $429,900 Active 14 DOM
11. 2026-06-03
    days on market $429,900 Active 13 DOM
12. 2026-06-02
    days on market $429,900 Active 12 DOM
13. 2026-06-01
    days on market $429,900 Active 11 DOM
14. 2026-05-31
    days on market $429,900 Active 10 DOM
15. 2026-05-15
    historical $429,900 1270-char remark
16. 2023-07-27
    soldstatus $402,000
17. 2023-07-20
    soldstatus $402,000 Sold 985-char remark

    Show marketing remark (985 chars)

    Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

18. 2023-06-28
    status Pending 985-char remark

    Show marketing remark (985 chars)

    Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

19. 2023-06-03
    historical Contingent - Subject to Financing 985-char remark

    Show marketing remark (985 chars)

    Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

20. 2023-05-27
    listed $380,000 Active 985-char remark

    Show marketing remark (985 chars)

    Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

21. 2023-05-23
    historical $380,000 985-char remark

    Show marketing remark (985 chars)

    Welcome home to country living in the heart of St. Michael/Albertville! This beautiful 2016 build is located minutes from everything on a quiet cul-de-sac road! Features of the home include a beautiful granite & stainless kitchen, spacious entry, & 3 bedrooms on the main level. The owner suite features beautiful views, a walk in closet and ensuite bath. The lower level features 2 generously sized bedrooms, spacious family room and updated Full bathroom. Special features of the home include deck to fully fenced in back yard, fire pit area & full underground pet fence. This home also features brand new solar panels and is 100% capable of creating its own electricity. It has been producing more electricity than is used with 5 occupants and is banking a savings with the local utility company to offset electricity usage during the winter months. Highly sought after location & close to STMA high school & middle school west! Schedule your your showing today!

22. 2021-07-20
    soldstatus $325,000
23. 2016-04-29
    historical
24. 2016-02-18
    price $249,140
25. 2016-02-17
    listed $254,140 Active
26. 2016-02-17
    historical
27. 2015-09-24
    listed $265,120 Active
28. 2015-08-14
    historical
29. 2015-04-15
    listed $258,150 Active
30. 2015-04-15
    historical
31. 2015-02-16
    listed $251,630 Active
32. 2015-02-16
    historical
33. 2014-12-03
    listed $226,600 Active
34. 2009-05-21
    soldstatus $494,650

ⓘ 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: $924 · $77/mo
• Projected year-2 tax: $2,869 · $239/mo
• Expected delta: +$1,945/yr (+$162/mo · 210.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,932
• − Mortgage interest: −$24,081
• − Property taxes: −$924
• − Insurance: −$2,150
• − Repairs & maintenance: −$3,275
• − Management: −$3,275
• − HOA: −$396
• − Depreciation: −$12,506
• Taxable loss: −$5,674
• Est. tax savings @ 24.0%: +$1,362
• After-tax cash flow: $3,175/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: St. Michael-Albertville School District
• NCES district ID: 2733790
• Math proficiency: 62% ▼ -13.00%
• Reading proficiency: 66% ▼ -10.00%
• Median HH income: $86,897
• Composite: 57.91/100
• National rank: #1042
• State rank: #17 of 301 in MN

Livability — Albertville

• Score: 75/100
• State rank: #206
• US rank: #4356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albertville, MN
• County: Wright County · 79,164 people
• City population: 13,482
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.52%
• Current HPI: 233.6299
• 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

-13.1% since first listed

21 events — show timeline

• 2026-05-22 Listed $429,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $429,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-27 Sold (Public Records) $402,000 Public Records
• 2023-07-20 Sold (MLS) $402,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-27 Listed $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-23 Coming Soon $380,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-20 Sold (Public Records) $325,000 Public Records
• 2016-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-18 Price Changed $249,140 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-17 Listed $254,140 NORTHSTARMLS as Distributed by MLS Grid
• 2016-02-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-24 Listed $265,120 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-15 Listed $258,150 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-16 Listed $251,630 NORTHSTARMLS as Distributed by MLS Grid
• 2014-12-03 Listed $226,600 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-21 Sold (Public Records) $494,650 Public Records

Property tax history

+17.9%/yr

Latest (2025): $924 · +3.1% YoY. Source: county tax records.