11428 3rd St NE #553 · Blaine, MN 55434

$82,000

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 18 Days on market

Built 1999 Good 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 +4.7/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained 3-bedroom, 2-bath home is located in the Park of Four Seasons community. The home features a spacious layout, a big outdoor storage shed, central heating, dedicated parking, and is fully move-in ready. The community offers a pet-friendly environment and a playground for families. The lot rent/land lease is 830$ a month and it includes trash, community pool, and playground for kids.

Key facts

• Built 1999
• Listed 18 days

Property features AI

Exterior

• Parking: On-street parking only
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One-level living (single story); Manufactured home
• Construction: Foundation area approximately 1,306; Roof installed within the last 8 years
• Exterior features: Porch; Storage shed

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (all on main level); Bedroom sizes approximately 10 x 9, 14 x 8, and 14 x 11
• Bathrooms: 2 full bathrooms; Main floor full bath; Bathroom sizes approximately 7 x 4 and 10 x 7
• Heating & cooling: Forced air heating; Window unit(s) for cooling
• Interior features: Ceiling fan(s); Primary bedroom walk-in closet; Porch; Sauna; Washer/Dryer hookup; Water filtration system; Stainless steel appliances
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $82k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $81k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 4.0% in Blaine — 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 71/100 on livability (#315 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• 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: Rents rising fast (+4.8%/yr); 114 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $567 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Recommended offer $80,770 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.59% ✓
• Cap rate: 22.56%
• Cash-on-cash: 58.11%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.79% rent growth · sell at horizon

5-year hold

• IRR: 58.7%
• Equity multiple: 3.68×
• Total profit: $61,449
• Equity at exit: $12,226

10-year hold

• IRR: 64.1%
• Equity multiple: 8.03×
• Total profit: $161,395
• Equity at exit: $7,090

Cash invested: $22,960 (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 55434

• Rents YoY: 4.8%
• Active inventory: 114
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,125 medium
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $1,112

Break-even live

Break-even rent $717

Max offer price $82,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,168	-5% $1,140	+0% $1,112	+5% $1,083	+10% $1,055
Rent	-10% $944	-5% $1,028	+0% $1,112	+5% $1,196	+10% $1,280
Rate	-1.0pp $1,153	-0.5pp $1,133	base $1,112	+0.5pp $1,091	+1.0pp $1,069

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 Northdale Blvd NW Minneapolis, MN	3.0	1.0	1044	$2,100	$2.01	44d	1	0.44mi
1145 116th Ave NE Minneapolis, MN	2.0	1.0–2.0	850	$2,070	$2.43	0d	7	1.25mi
10590 Kumquat St NW Minneapolis, MN	2.0	1.0	1313	$1,650	$1.26	12d	1	1.38mi

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-10
   listed $82,000 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 ≥100°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: $25,496
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$410
• − Repairs & maintenance: −$2,040
• − Management: −$2,040
• − Depreciation: −$2,385
• Taxable income: $12,798
• Est. tax owed @ 24.0%: −$3,071
• After-tax cash flow: $10,270/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath home in the Park of Four Seasons community is move-in ready and offers a spacious layout with modern amenities.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both paint exterior — improves curb appeal and resale value
• Both install smart home features — attracts tech-savvy buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both paint exterior — improves curb appeal and resale value ↑
• Both install smart home features — attracts tech-savvy buyers and renters ↑

ⓘ 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: 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 — Blaine

• Score: 71/100
• State rank: #315
• US rank: #7073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blaine, MN
• County: Anoka County · 277,116 people
• City population: 67,472
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 33,029
• Household income: $90,336
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 526.0

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 (69%)
• Race & ethnicity: White 69% Asian 10% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 5% Italian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 79% English-only · Spanish 5% Other Asian/Pacific 2% Vietnamese 2%

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: ▼ -230.62%
• Current HPI: 254.0422
• Rent YoY: ▲ 4.79%
• 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

2 events — show timeline

• 2026-04-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $82,000 NORTHSTARMLS as Distributed by MLS Grid