Lot 20 County Road 76 Rd · Cohasset, MN 55744

$49,900

3 bd · 1.0 ba · 1,216 sqft · SingleFamily · 11 Days on market

Built 1993 Fair condition

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Pokegama Lake Lovers!! Don't miss this opportunity to embrace lakeside living with this spacious 3 bedroom 1993 Marshfield home located within Lakeview Terrace Community. Owner recently updated the main bath with a walk-in shower and replaced all windows with the exception of the front bow window. Enjoy 10 1/2 x 12 deck, 14 x 10 storage shed.

Key facts

• Built 1993
• Listed 11 days

Property features AI

Finance

• HOA & community: No association fees (N/A)

Exterior

• Parking: Concrete parking
• Utilities: Shared system and well water; Private sewer / shared septic; 100 Amp electrical service; Natural gas
• Home design: Manufactured home; Single-story (one level); Residential property
• Construction: Asphalt roof (age 8 years or less); Concrete perimeter foundation; Other construction materials; Foundation dimensions approx. 16 x 74
• Exterior features: Vinyl exterior; Deck; Storage shed; Accessible shoreline; Deeded shared lake access with lake view

Interior

• Kitchen: Eat-in kitchen (approx. 14.5 x 18.5); Range; Refrigerator; Dishwasher; Exhaust fan
• Bedrooms: 3 bedrooms, all on the main level; Bedroom sizes (approx.): 12.5 x 12; 11.5 x 9; 9.5 x 10
• Bathrooms: One main-floor 3/4 bathroom (approx. 10.5 x 11.5)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor laundry; Eat-in kitchen
• Laundry & utility: Washer and dryer included; Main level laundry; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 68/100 on livability (#398 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: health & safety C-, amenities F, commute F.
• Grand Rapids Public School District (town): math 46% / reading 55% proficiency, ranked #119 of 301 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert J. Elkington Middle School (math 47% / reading 59%, grade C+, #53 of 258 statewide, top 22%, 747 students, 45% FRL); Grand Rapids Senior High (math 62% / reading 62%, grade B-, #35 of 471 statewide, top 8%, 1,129 students, 39% FRL).
• Market conditions: 108 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $49,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 2.87% ✓
• Cap rate: 25.24%
• Cash-on-cash: 67.67%
• DSCR: 4.01
• GRM: 2.9

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: 67.0%
• Equity multiple: 4.01×
• Total profit: $42,117
• Equity at exit: $7,440

10-year hold

• IRR: 71.3%
• Equity multiple: 8.26×
• Total profit: $101,378
• Equity at exit: $4,314

Cash invested: $13,972 (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 55744

• Active inventory: 108
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $788

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 40%

Sensitivity live

Price	-10% $822	-5% $805	+0% $788	+5% $771	+10% $753
Rent	-10% $675	-5% $731	+0% $788	+5% $845	+10% $901
Rate	-1.0pp $813	-0.5pp $801	base $788	+0.5pp $775	+1.0pp $762

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   listed $49,900 Active 345-char remark
2. 2026-05-07
   historical $49,900 345-char remark

ⓘ 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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,206
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$1,452
• Taxable income: $9,208
• Est. tax owed @ 24.0%: −$2,210
• After-tax cash flow: $7,245/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

Fair 45/100 Moderate rehab

This home requires extensive repairs and updates to its roof, exterior, flooring, and interior walls, but has potential for significant value increase with proper renovations.

Repairs flagged

• Major roof — The satellite image shows a large section of the roof is missing.
• Major exterior siding — The siding is weathered and the paint is peeling.
• Major flooring — The carpet is worn and stained.
• Major interior walls — The walls are bare and show signs of wear and tear.
• Minor bathroom fixtures — The fixtures and tiles appear dated.

Value-add opportunities

• Resale repair roof — A new roof will significantly improve the home's appearance and value.
• Resale repair exterior siding and paint — A fresh coat of paint and new siding will enhance the home's curb appeal.
• Resale replace carpet — New carpet will improve the living room and dining area's appearance and comfort.
• Resale paint interior walls — Fresh paint will brighten the interior and make it more appealing to potential buyers.
• Resale replace bathroom fixtures — New fixtures will modernize the bathroom and make it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The satellite image shows a large section of the roof is missing.	Major	$15,000–50,000
exterior siding · The siding is weathered and the paint is peeling.	Major	$15,000–50,000
flooring · The carpet is worn and stained.	Major	$15,000–50,000
interior walls · The walls are bare and show signs of wear and tear.	Major	$15,000–50,000
bathroom fixtures · The fixtures and tiles appear dated.	Minor	$500–3,000
Total estimated repair cost · 5 items		$60,500–203,000

Value-add ROI direction

• Resale repair roof — A new roof will significantly improve the home's appearance and value. ↑
• Resale repair exterior siding and paint — A fresh coat of paint and new siding will enhance the home's curb appeal. ↑
• Resale replace carpet — New carpet will improve the living room and dining area's appearance and comfort. ↑
• Resale paint interior walls — Fresh paint will brighten the interior and make it more appealing to potential buyers. ↑
• Resale replace bathroom fixtures — New fixtures will modernize the bathroom and make it more attractive to potential buyers. ↑

ⓘ 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: Grand Rapids Public School District
• NCES district ID: 2713170
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $49,762
• Composite: 43.14/100
• National rank: #3077
• State rank: #119 of 301 in MN

Livability — Cohasset

• Score: 68/100
• State rank: #398
• US rank: #9364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cohasset, MN
• City population: 3,840
• Population (ZIP): 20,469

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Native American 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 14% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.16%
• Current HPI: 166.6788
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Coming Soon $49,900 NORTHSTARMLS as Distributed by MLS Grid