5347 Portland Ave · White Bear Lake, MN 55110

$329,000

4 bd · 2.0 ba · 1,710 sqft · SingleFamily public records · 62 Days on market

Built 1992 0.26 ac lot $192/sqft · 28% below area Est $447k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• 1% rule +2.6/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! Enjoy living close to White Bear Lake and having included deeded beach access! A menagerie of birds will sing you songs every morning while you enjoy your coffee or tea! Entire home has been freshly painted and updated! Brand new granite countertop in kitchen with undermount sink. Bright and bold main level bathroom. Lots of natural light throughout this home. Hickory hardwood on main level. The lower level features an adult suite with walk-in closet and private master bathroom with jacuzzi! Anderson windows. Fenced in yard for your fur babies. Patio off of the dining room area. There's a garden ready for you to tend with organic strawberries and raspberries. Concrete patio between house and garage. Across the street from Longville Park and blocks away from Garden Creek Park. Insulated garage has 50 amp service - just needs an EV Charger! Gas line available in garage for connecting heater. Extra wide asphalt driveway, room for 3 vehicles and a camper!

Key facts

• Hickory hardwood
• Undermount sink
• Walk-in closet

Tags

• GRANITE COUNTERTOP
• UNDERMOUNT SINK
• HICKORY HARDWOOD
• WALK-IN CLOSET
• PRIVATE MASTER BATHROOM
• JACUZZI

Property features AI

Exterior

• Parking: Detached or attached 2-car garage (25 x 25)
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Residential property; Split entry (bi-level) with multiple levels; Home faces 4th Street (corner of 4th Street and Portland Avenue)
• Construction: Slab foundation; Foundation dimensions about 30 x 23
• Exterior features: Vinyl exterior; Lot approximately 0.257 acres (about 80 x 140)

Interior

• Kitchen: Main-level kitchen
• Bedrooms: 4 bedrooms (two on main level, two on lower level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Split entry (bi-level) home; Sump pump in basement
• Laundry & utility: Basement utility area with sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $329k.

Deal economics

• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (24.1% below list).
• Recommended offer: $250k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.6% in White Bear Lake — 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 77/100 on livability (#124 in MN, #2,842 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: amenities F, health & safety F.
• White Bear Lake School District (suburban): math 45% / reading 57% proficiency, ranked #83 of 301 in MN (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Matoska International (math 45% / reading 54%, grade D, #423 of 857 statewide, top 55%, 554 students, 24% FRL); Central Middle (math 41% / reading 55%, grade C-, #90 of 258 statewide, top 35%, 1,020 students, 24% FRL); White Bear South Campus Senior (math 37%, 1,111 students, 26% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: Rents rising (+2.8%/yr); 187 active listings in the ZIP; solid renter incomes; 1,202 units permitted in Ramsey County in 2024 (880 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Ramsey County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 33y ago; this cycle's ask has dropped $26k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $249,623 (24.1% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.76% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 11.0

CMA / ARV

• ARV (median comp): $447,313
• List price: $329,000
• Delta: -26.45%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-70,072
• Equity at exit: $49,055

10-year hold

• IRR: -16.5%
• Equity multiple: 0.09×
• Total profit: $-83,835
• Equity at exit: $28,446

Cash invested: $92,120 (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 55110

• Rents YoY: 2.8%
• Active inventory: 187
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,496 medium
• Mortgage (P&I): −$1,725
• Tax from tax record: −$366 /mo · $4,390/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $-256

Break-even live

Break-even rent $2,821

Max offer price $283,740

Occupancy floor —

Sensitivity live

Price	-10% $-70	-5% $-163	+0% $-256	+5% $-349	+10% $-442
Rent	-10% $-453	-5% $-355	+0% $-256	+5% $-158	+10% $-59
Rate	-1.0pp $-91	-0.5pp $-173	base $-256	+0.5pp $-341	+1.0pp $-428

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $329,000 Active 62 DOM
2. 2026-06-18
   price $329,000 Active 59 DOM
3. 2026-06-18
   days on market $339,000 Active 59 DOM
4. 2026-06-17
   days on market $339,000 Active 58 DOM
5. 2026-06-16
   days on market $339,000 Active 57 DOM
6. 2026-06-15
   days on market $339,000 Active 56 DOM
7. 2026-06-13
   days on market $339,000 Active 54 DOM
8. 2026-06-13
   days on market $339,000 Active 53 DOM
9. 2026-06-09
   days on market $339,000 Active 50 DOM
10. 2026-06-08
    days on market $339,000 Active 49 DOM
11. 2026-06-07
    days on market $339,000 Active 48 DOM
12. 2026-06-04
    days on market $339,000 Active 45 DOM
13. 2026-06-03
    days on market $339,000 Active 44 DOM
14. 2026-06-02
    days on market $339,000 Active 43 DOM
15. 2026-06-01
    days on market $339,000 Active 42 DOM
16. 2026-05-31
    days on market $339,000 Active 41 DOM
17. 2026-04-27
    status Active 677-char remark
18. 2026-04-27
    price $349,000 677-char remark
19. 2026-04-25
    historical 677-char remark
20. 2026-04-18
    listed $355,000 Active 677-char remark
21. 2025-10-23
    historical
22. 2025-09-16
    price $345,000
23. 2025-09-05
    price $350,000
24. 2025-08-23
    price $355,000
25. 2025-07-09
    listed $360,000 Active
26. 2021-07-21
    soldstatus $335,900
27. 2021-07-12
    soldstatus $335,900 Sold

    Show marketing remark (979 chars)

    Welcome home! Enjoy living close to White Bear Lake and having included deeded beach access! A menagerie of birds will sing you songs every morning while you enjoy your coffee or tea! Entire home has been freshly painted and updated! Brand new granite countertop in kitchen with undermount sink. Bright and bold main level bathroom. Lots of natural light throughout this home. Hickory hardwood on main level. The lower level features an adult suite with walk-in closet and private master bathroom with jacuzzi! Anderson windows. Fenced in yard for your fur babies. Patio off of the dining room area. There's a garden ready for you to tend with organic strawberries and raspberries. Concrete patio between house and garage. Across the street from Longville Park and blocks away from Garden Creek Park. Insulated garage has 50 amp service - just needs an EV Charger! Gas line available in garage for connecting heater. Extra wide asphalt driveway, room for 3 vehicles and a camper!

28. 2021-06-13
    status Pending

    Show marketing remark (979 chars)

    Welcome home! Enjoy living close to White Bear Lake and having included deeded beach access! A menagerie of birds will sing you songs every morning while you enjoy your coffee or tea! Entire home has been freshly painted and updated! Brand new granite countertop in kitchen with undermount sink. Bright and bold main level bathroom. Lots of natural light throughout this home. Hickory hardwood on main level. The lower level features an adult suite with walk-in closet and private master bathroom with jacuzzi! Anderson windows. Fenced in yard for your fur babies. Patio off of the dining room area. There's a garden ready for you to tend with organic strawberries and raspberries. Concrete patio between house and garage. Across the street from Longville Park and blocks away from Garden Creek Park. Insulated garage has 50 amp service - just needs an EV Charger! Gas line available in garage for connecting heater. Extra wide asphalt driveway, room for 3 vehicles and a camper!

29. 2021-06-04
    listed $315,000 Active

    Show marketing remark (979 chars)

    Welcome home! Enjoy living close to White Bear Lake and having included deeded beach access! A menagerie of birds will sing you songs every morning while you enjoy your coffee or tea! Entire home has been freshly painted and updated! Brand new granite countertop in kitchen with undermount sink. Bright and bold main level bathroom. Lots of natural light throughout this home. Hickory hardwood on main level. The lower level features an adult suite with walk-in closet and private master bathroom with jacuzzi! Anderson windows. Fenced in yard for your fur babies. Patio off of the dining room area. There's a garden ready for you to tend with organic strawberries and raspberries. Concrete patio between house and garage. Across the street from Longville Park and blocks away from Garden Creek Park. Insulated garage has 50 amp service - just needs an EV Charger! Gas line available in garage for connecting heater. Extra wide asphalt driveway, room for 3 vehicles and a camper!

30. 2021-06-01
    historical $315,000

    Show marketing remark (979 chars)

    Welcome home! Enjoy living close to White Bear Lake and having included deeded beach access! A menagerie of birds will sing you songs every morning while you enjoy your coffee or tea! Entire home has been freshly painted and updated! Brand new granite countertop in kitchen with undermount sink. Bright and bold main level bathroom. Lots of natural light throughout this home. Hickory hardwood on main level. The lower level features an adult suite with walk-in closet and private master bathroom with jacuzzi! Anderson windows. Fenced in yard for your fur babies. Patio off of the dining room area. There's a garden ready for you to tend with organic strawberries and raspberries. Concrete patio between house and garage. Across the street from Longville Park and blocks away from Garden Creek Park. Insulated garage has 50 amp service - just needs an EV Charger! Gas line available in garage for connecting heater. Extra wide asphalt driveway, room for 3 vehicles and a camper!

31. 2017-06-01
    soldstatus $194,000 Sold
32. 2017-05-24
    status Pending
33. 2017-05-22
    listed $179,000 Active
34. 2006-12-11
    soldstatus $195,000
35. 2006-11-15
    historical
36. 2006-11-05
    listed $198,500
37. 2006-06-06
    historical
38. 2005-06-13
    historical
39. 2005-06-10
    listed $209,900
40. 2004-10-12
    listed $261,900
41. 2003-09-26
    soldstatus $255,000
42. 2003-07-10
    historical
43. 2003-06-23
    listed $224,900
44. 2002-12-20
    historical
45. 2002-08-20
    listed $239,900
46. 2002-08-19
    historical
47. 2002-07-10
    listed $264,900
48. 2001-06-20
    soldstatus $139,000
49. 1998-02-12
    soldstatus $80,000
50. 1993-07-04
    historical

ⓘ 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: $4,390 · $366/mo
• Projected year-2 tax: $4,390 · $366/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥101°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: $29,955
• − Mortgage interest: −$18,429
• − Property taxes: −$4,390
• − Insurance: −$1,645
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$9,571
• Taxable loss: −$8,873
• Est. tax savings @ 24.0%: +$2,130
• After-tax cash flow: $-945/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: White Bear Lake School District
• NCES district ID: 2742360
• Math proficiency: 45% ▼ -18.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $73,051
• Composite: 45.78/100
• National rank: #2564
• State rank: #83 of 301 in MN

Livability — White Bear Lake

• Score: 77/100
• State rank: #124
• US rank: #2842

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ramsey County · 542,837 people
• City population: 37,305
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 37,305
• Household income: $101,296
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 867.0

Population outlook (Ramsey County) Hauer SSP2

• Today (2025): 603,431 people
• By 2030: 636,459 · +5.5%
• By 2040: 700,596 · +16.1%
• By 2050: 765,819 · +26.9%
• By 2075: 929,297 · +54.0%
• By 2100: 1,053,924 · +74.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 2% German/W. Germanic 0%

Political lean MEDSL · Ramsey

• 2024 margin: Solid D (+43.3) · D 70.5% · R 27.2% · Other 2.3%
• 2008→2024 swing: +9.4pp toward D · 2008: 33.9pp · 2024: 43.3pp
• All cycles: 2024: D+43.3 2020: D+45.4 2016: D+39.4 2012: D+35.3 2008: D+33.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -296.94%
• Current HPI: 237.0992
• Rent YoY: ▲ 2.82%
• 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

+1075.0% since first listed

38 events — show timeline

• 2026-06-18 Price Changed $329,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Price Changed $339,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $349,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-18 Listed $355,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-16 Price Changed $345,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-05 Price Changed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-23 Price Changed $355,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-09 Listed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-21 Sold (Public Records) $335,900 Public Records
• 2021-07-12 Sold (MLS) $335,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-04 Listed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-01 Coming Soon $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-01 Sold (MLS) $194,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-22 Listed $179,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-11 Sold (MLS) $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-05 Listed $198,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-10 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-12 Listed $261,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-26 Sold (Public Records) $255,000 Public Records
• 2003-07-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-06-23 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-12-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-20 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-08-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-07-10 Listed $264,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-06-20 Sold (Public Records) $139,000 Public Records
• 1998-02-12 Sold (Public Records) $80,000 Public Records
• 1993-07-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-02-04 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 1990-10-31 Sold (Public Records) $28,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $4,390 · +5.5% YoY. Source: county tax records.