10746 Ilex St NW · Coon Rapids, MN 55448

$195,000

3 bd · 1.0 ba · 1,140 sqft · Townhouse public records

Built 1973 1,306 sqft lot $165/mo HOA · 9% of rent

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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 +12.0/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• 1% rule +4.1/10.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Kitchen updates include cabinets & counter tops. New laminate flooring on main level, steps and upper hallway in 2016. New carpet and paint 2017. HOA installing new siding, roof and window from insurance proceeds from July hailstorm. Buyer can enjoy several updates! 3 bedrooms on one level. Full bath. Front fenced cement patio with flower garden area & entrance to garage. Back fenced private patio accessed from living room patio door w/ gate to park like area for family & pets to enjoy.

Key facts

• $165 HOA
• Garage
• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $-46 ($-550/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (9.3% below list).
• Recommended offer: $177k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Coon Rapids — 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 86/100 on livability (#12 in MN, #390 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 115 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $132k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $176,878 (9.3% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.91% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.01%
• DSCR: 0.96
• GRM: 9.2

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-34,434
• Equity at exit: $29,075

10-year hold

• IRR: -10.0%
• Equity multiple: 0.39×
• Total profit: $-33,398
• Equity at exit: $16,860

Cash invested: $54,600 (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 55448

• Home prices YoY: -27.6%
• Active inventory: 115
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,769 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$174 /mo · $2,092/yr
• Insurance: −$81
• HOA: −$165
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-46

Break-even live

Break-even rent $1,827

Max offer price $186,899

Occupancy floor 98%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10590 Kumquat St NW Minneapolis, MN	2.0	1.0	1313	$1,650	$1.26	11d	1	0.28mi
231 Northdale Blvd NW Minneapolis, MN	3.0	1.0	1044	$2,100	$2.01	44d	1	0.67mi
10630 Tamarack St NW Minneapolis, MN	3.0	1.0	900	$1,424	$1.58	24d	1	0.68mi
10060 Dogwood St NW Minneapolis, MN	2.0–3.0	2.0	1240	$1,895	$1.53	24d	2	0.93mi
9950 Redwood St NW Minneapolis, MN	1.0–2.0	1.0	859	$1,300	$1.51	44d	1	1.14mi
750 99th Ave NW Minneapolis, MN	2.0–3.0	1.5–2.0	1195	$1,725	$1.44	12d	4	1.17mi
9787 Palm St NW Minneapolis, MN	2.0	1.0	903	$1,500	$1.66	5d	6	1.32mi
249 99th Ave NE Unit 241-107 Blaine, MN	2.0	1.0	875	$1,445	$1.65	44d	1	1.33mi
249 99th Ave NE Unit 241-307 Blaine, MN	2.0	1.0	875	$1,445	$1.65	20d	1	1.33mi
249 99th Ave NE Unit 249-308 Blaine, MN	2.0	1.0	875	$1,430	$1.63	44d	1	1.33mi

HOA detail

• Monthly dues: $165 · $1,980/yr

Listing history 1 events

1. 2026-06-07
   listed $195,000 Pending

ⓘ 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: $2,092 · $174/mo
• Projected year-2 tax: $2,138 · $178/mo
• Expected delta: +$46/yr (+$4/mo · 2.2%)

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

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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,225
• − Mortgage interest: −$10,923
• − Property taxes: −$2,092
• − Insurance: −$975
• − Repairs & maintenance: −$1,698
• − Management: −$1,698
• − HOA: −$1,980
• − Depreciation: −$5,673
• Taxable loss: −$3,814
• Est. tax savings @ 24.0%: +$915
• After-tax cash flow: $365/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Coon Rapids

• Score: 86/100
• State rank: #12
• US rank: #390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coon Rapids, MN
• County: Anoka County · 277,116 people
• City population: 63,468
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 29,005
• Household income: $103,461
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 221.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 8% Asian 7% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 13% Romanian 5% Lithuanian 3%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 4% Other Asian/Pacific 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.29%
• Current HPI: 254.7687
• 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

+34.6% since first listed

13 events — show timeline

• 2026-06-06 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-02 Rental Removed $1,799 APPFOLIO
• 2025-07-22 Listed for Rent $1,799 APPFOLIO
• 2017-11-20 Sold (Public Records) $131,500 Public Records
• 2017-11-17 Sold (MLS) $131,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-21 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-09 Price Changed $142,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-31 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2026): $2,092 · +4.3% YoY. Source: county tax records.