15472 Tungsten St NW

Ramsey, MN 55303

$250,000D

3 bd · 3.0 ba · 1,404 sqft · Built 2005 · Townhouse · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,196/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$280
• HOA: −$310
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-167/mo
• Annual: $-2,002/yr
• Cap rate: 5.49%
• Cash-on-cash: -2.86%
• DSCR: 0.87
• 1% rule: 0.88%
• Cash to close: $70,000

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $250k.
• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (12.2% below list).
• It's been on market 17 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $220k (12.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#354 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, 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.
• Zoned schools: Ramsey Elementary (math 55% / reading 59%, grade C+, #265 of 857 statewide, top 35%, 747 students, 53% FRL); Anoka Middle School For The Arts (math 39% / reading 44%, grade F, #138 of 258 statewide, top 55%, 1,678 students, 44% FRL); Anoka High School (math 26% / reading 63%, grade F, #189 of 471 statewide, top 44%, 2,322 students, 36% FRL) — zoned schools average 44% FRL vs 24% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 21y 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.
• Cap rate 5.5% vs local median 3.3% in Ramsey — 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.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.