11000 NW Highway 10 Lot 37 · Rice, MN 56367

$40,000

3 bd · 2.0 ba · 1,280 sqft · Other public records · 80 Days on market

Built 1997 ↓ 17% since listing

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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 +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

Key facts

• Garage
• Built 1997
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.4% vs local median 0.8% in Rice — 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 74/100 on livability (#222 in MN, #4,751 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F, commute F.
• Sauk Rapids-Rice Public Schools (rural): math 42% / reading 51% proficiency, ranked #156 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 82 units permitted in Benton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.66% ✓
• Cap rate: 24.36%
• Cash-on-cash: 64.51%
• DSCR: 3.87
• GRM: 3.1

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: 63.6%
• Equity multiple: 3.84×
• Total profit: $31,861
• Equity at exit: $5,964

10-year hold

• IRR: 68.0%
• Equity multiple: 7.88×
• Total profit: $77,097
• Equity at exit: $3,458

Cash invested: $11,200 (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 56367

• Active inventory: 45
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,065 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$13 /mo · $156/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $602

Break-even live

Break-even rent $303

Max offer price $40,000

Occupancy floor 38%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-15
   statusdays on market $40,000 Pending 80 DOM
2. 2026-06-14
   days on market $40,000 Active 79 DOM
3. 2026-06-13
   days on market $40,000 Active 78 DOM
4. 2026-06-10
   pricestatusdays on market $40,000 Active 76 DOM
5. 2026-06-09
   days on market $50,000 Contingent - Inspection 75 DOM
6. 2026-06-08
   days on market $50,000 Contingent - Inspection 74 DOM
7. 2026-06-07
   days on market $50,000 Contingent - Inspection 73 DOM
8. 2026-06-05
   statusdays on market $50,000 Contingent - Inspection 70 DOM
9. 2026-06-02
   days on market $50,000 Active 68 DOM
10. 2026-06-01
    days on market $50,000 Active 67 DOM
11. 2026-05-31
    days on market $50,000 Active 66 DOM
12. 2026-05-30
    days on market $50,000 Active 65 DOM
13. 2026-04-27
    price $50,000 949-char remark

    Show marketing remark (949 chars)

    Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

14. 2026-04-07
    status Active 949-char remark

    Show marketing remark (949 chars)

    Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

15. 2026-04-03
    historical Contingent - Inspection 949-char remark

    Show marketing remark (949 chars)

    Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

16. 2026-03-27
    listed $60,000 Active 949-char remark

    Show marketing remark (949 chars)

    Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

17. 2026-03-18
    historical $60,000 949-char remark

    Show marketing remark (949 chars)

    Welcome to this well maintained 3 bedroom, 2 bathroom home offering comfortable living in a great community setting in Rice. This home features a functional layout with spacious living areas and plenty of natural light throughout. The kitchen and main living space flow nicely, making it ideal for everyday living and entertaining. Outside, you will find great added value with a 1 stall garage, two additional storage sheds, and a two car parking space. Enjoy the front deck, perfect for relaxing, while the backyard offers a unique touch with mature maple trees and a variety of fruit bearing plants including raspberries, blackberries, blueberries, three apple trees, and one cherry tree. The sellers also have laminate flooring rolls that they had planned to install, which will stay with the home for the next owners to use if they choose. This home offers a great combination of space, outdoor features, and value. Schedule your showing today!

ⓘ 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: $156 · $13/mo
• Projected year-2 tax: $302 · $25/mo
• Expected delta: +$146/yr (+$12/mo · 93.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,783
• − Mortgage interest: −$2,241
• − Property taxes: −$156
• − Insurance: −$200
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$1,164
• Taxable income: $6,977
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $5,551/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: Sauk Rapids-Rice Public Schools
• NCES district ID: 2732880
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 51% ▼ -6.00%
• Median HH income: $54,719
• Composite: 40.3/100
• National rank: #3757
• State rank: #156 of 301 in MN

Livability — Rice

• Score: 74/100
• State rank: #222
• US rank: #4751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,226

Population outlook (Benton County) Hauer SSP2

• Today (2025): 41,796 people
• By 2030: 42,497 · +1.7%
• By 2040: 43,143 · +3.2%
• By 2050: 42,809 · +2.4%
• By 2075: 39,973 · -4.4%
• By 2100: 36,969 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Portuguese 9% Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+35.9) · D 31.1% · R 67.0% · Other 1.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -9.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.9 2016: R+36.3 2012: R+13.7 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.40%
• Current HPI: 175.9236
• 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

-16.7% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Coming Soon $60,000 NORTHSTARMLS as Distributed by MLS Grid