13891 Pine View Acres Cir · Wadena, MN 56482

$113,900

3 bd · 2.0 ba · 1,144 sqft · SingleFamily public records · 43 Days on market

Built 2006 0.46 ac lot $100/sqft · 13% below area Est $132k · 13% 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).

• Cash flow +15.5/30.0
• ARV discount +13.6/15.0
• DSCR +4.8/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom, 2 bath home in local mobile home park. Located on an owned lot so no monthly fees. Build equity with some small improvements, repairs, and updates.

Key facts

• 0.46 acre lot
• Garage
• Built 2006

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 200; Lot area about 0.459 acres; Road frontage includes township roads; some unimproved/unpaved streets

Exterior

• Parking: Detached garage spaces: 1 (garage dimensions listed as 13 x 43, 17 x 13, and 10 x 14)
• Utilities: Drilled water supply; Septic tank with drainage field; Propane fuel; 200+ amp electrical service
• Home design: Manufactured home; Single-story (one level)
• Construction: Frame construction; Foundation described as Other; Above-ground finished area approximately 1,144; Building total area approximately 1,144
• Exterior features: Vinyl exterior; Storage shed on the property; Underground utilities

Interior

• Kitchen: Kitchen on the main level; Includes refrigerator
• Bedrooms: Three bedrooms all on the main level; Primary bedroom on the main level; Bedroom sizes include 14.3 x 11.8, 10.4 x 10, and 9 x 10.8 (approx.)
• Bathrooms: Two full bathrooms; Main floor half bath and main floor full bath
• Heating & cooling: Forced-air heating; No central air conditioning
• Interior features: Refrigerator included; Main floor kitchen/dining area; No basement
• Laundry & utility: Main level laundry room (approximately 5 x 5.3)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $45 ($544/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (12.2% below list).
• Recommended offer: $100k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.3% in Wadena — 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 67/100 on livability (#433 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools D+, amenities F.
• Wadena-Deer Creek School District (town): math 33% / reading 45% proficiency, ranked #235 of 301 in MN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 52 units permitted in Wadena County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $787 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wadena County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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.

Recommended offer $100,033 (12.2% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.88% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 9.5

CMA / ARV

• ARV (median comp): $131,615
• List price: $113,900
• Delta: -13.46%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-15,580
• Equity at exit: $16,983

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-9,893
• Equity at exit: $9,848

Cash invested: $31,892 (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 56482

• Home prices YoY: -7.6%
• Active inventory: 50
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$597
• Tax from tax record: −$100 /mo · $1,202/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $45

Break-even live

Break-even rent $943

Max offer price $113,900

Occupancy floor 90%

Sensitivity live

Price	-10% $110	-5% $78	+0% $45	+5% $13	+10% $-19
Rent	-10% $-34	-5% $6	+0% $45	+5% $85	+10% $124
Rate	-1.0pp $103	-0.5pp $74	base $45	+0.5pp $16	+1.0pp $-14

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $113,900 Active 43 DOM
2. 2026-06-18
   days on market $113,900 Active 41 DOM
3. 2026-06-17
   days on market $113,900 Active 40 DOM
4. 2026-06-16
   days on market $113,900 Active 39 DOM
5. 2026-06-15
   days on market $113,900 Active 38 DOM
6. 2026-06-13
   days on market $113,900 Active 36 DOM
7. 2026-06-12
   days on market $113,900 Active 35 DOM
8. 2026-06-09
   days on market $113,900 Active 32 DOM
9. 2026-06-08
   days on market $113,900 Active 31 DOM
10. 2026-06-07
    days on market $113,900 Active 30 DOM
11. 2026-06-07
    days on market $113,900 Active 29 DOM
12. 2026-06-04
    days on market $113,900 Active 26 DOM
13. 2026-06-02
    days on market $113,900 Active 25 DOM
14. 2026-06-01
    days on market $113,900 Active 24 DOM
15. 2026-05-31
    days on market $113,900 Active 23 DOM
16. 2026-05-31
    days on market $113,900 Active 22 DOM
17. 2026-05-08
    listed $113,900 Active 160-char remark
18. 2026-05-07
    historical
19. 2026-04-15
    price $113,900
20. 2025-11-20
    listed $119,900 Active
21. 2022-07-25
    soldstatus $100,000
22. 2016-10-01
    historical
23. 2016-09-07
    price $57,000
24. 2016-06-14
    status Active
25. 2016-06-07
    status Pending
26. 2016-03-31
    listed $59,000 Active
27. 2015-06-17
    soldstatus $15,000
28. 2015-03-12
    historical
29. 2014-10-23
    historical
30. 2014-05-01
    listed $42,000 Active
31. 2014-04-23
    listed $42,000

ⓘ 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: $1,202 · $100/mo
• Projected year-2 tax: $1,239 · $103/mo
• Expected delta: +$37/yr (+$3/mo · 3.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,004
• − Mortgage interest: −$6,380
• − Property taxes: −$1,202
• − Insurance: −$570
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$3,313
• Taxable loss: −$1,382
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $876/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: Wadena-Deer Creek School District
• NCES district ID: 2700022
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $38,917
• Composite: 32.56/100
• National rank: #5683
• State rank: #235 of 301 in MN

Livability — Wadena

• Score: 67/100
• State rank: #433
• US rank: #10325

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,494

Population outlook (Wadena County) Hauer SSP2

• Today (2025): 13,856 people
• By 2030: 13,689 · -1.2%
• By 2040: 13,382 · -3.4%
• By 2050: 13,062 · -5.7%
• By 2075: 12,185 · -12.1%
• By 2100: 10,297 · -25.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Portuguese 12% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Wadena

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.1% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: -17.4pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.5 2016: R+45.7 2012: R+24.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.45%
• Current HPI: 223.9404
• 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

+171.2% since first listed

15 events — show timeline

• 2026-05-08 Listed $113,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Price Changed $113,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-20 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-25 Sold (Public Records) $100,000 Public Records
• 2016-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-07 Price Changed $57,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-31 Listed $59,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-17 Sold (Public Records) $15,000 Public Records
• 2015-03-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-01 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-23 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+12.8%/yr

Latest (2026): $1,202 · +7.7% YoY. Source: county tax records.