1341 104th Ln NE · Blaine, MN 55434

$65,000

2 bd · 2.0 ba · 1,088 sqft · Manufactured public records · 71 Days on market

Built 2000 Fair condition 6,534 sqft lot $60/sqft · 79% below area $953/mo HOA · 53% of rent ↓ 12% since listing

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Why this score? — see what drove the C 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 +19.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.7/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover clean, modern all-age living in this updated 2-bedroom, 2-full-bath home featuring updated appliances and a fireplace that adds warmth and charm. Enjoy first-rate community amenities including a clubhouse, playground, and storage space for boats and trailers, along with pet-friendly areas and well-lit streets designed with comfort and safety in mind. Located near dining, shopping, and Anoka-Hennepin Schools, this community offers both convenience and access to quality education. With easy access to U.S. Highway 10, you are just 25 minutes from downtown Minneapolis and St. Paul, while also being close to local parks and the National Sports Center. Blaine International Village offers a lifestyle that is both convenient and welcoming.

Key facts

• Updated appliances
• Clubhouse
• Storage space

Tags

• UPDATED APPLIANCES
• FIREPLACE
• CLUBHOUSE
• PLAYGROUND
• STORAGE SPACE
• PET-FRIENDLY AREAS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $68 ($816/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.9% 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); 109 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $449 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 $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.76% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.48%
• DSCR: 1.20
• GRM: 3.0

CMA / ARV

• ARV (median comp): $305,177
• List price: $65,000
• Delta: -78.70%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.87×
• Total profit: $-2,338
• Equity at exit: $9,692

10-year hold

• IRR: 11.3%
• Equity multiple: 2.09×
• Total profit: $19,876
• Equity at exit: $5,620

Cash invested: $18,200 (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 55434

• Rents YoY: 4.8%
• Active inventory: 109
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$341
• Tax from tax record: −$27 /mo · $320/yr
• Insurance: −$27
• HOA: −$953
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $68

Break-even live

Break-even rent $1,706

Max offer price $65,000

Occupancy floor 91%

Sensitivity live

Price	-10% $105	-5% $86	+0% $68	+5% $50	+10% $31
Rent	-10% $-74	-5% $-3	+0% $68	+5% $139	+10% $210
Rate	-1.0pp $101	-0.5pp $85	base $68	+0.5pp $51	+1.0pp $34

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9460 Ulysses St NE Blaine, MN	2.0	1.0–2.0	846	$2,294	$2.71	0d	6	1.22mi
9436 Ulysses St NE Minneapolis, MN	2.0	1.0–2.0	775	$2,095	$2.70	0d	11	1.22mi
249 99th Ave NE Unit 241-307 Blaine, MN	2.0	1.0	875	$1,445	$1.65	20d	1	1.36mi
249 99th Ave NE Unit 249-308 Blaine, MN	2.0	1.0	875	$1,430	$1.63	44d	1	1.36mi
249 99th Ave NE Unit 241-107 Blaine, MN	2.0	1.0	875	$1,445	$1.65	44d	1	1.36mi

HOA detail

• Monthly dues: $953 · $11,436/yr

Listing history 17 events

1. 2026-06-18
   days on market $65,000 Active 71 DOM
2. 2026-06-17
   days on market $65,000 Active 70 DOM
3. 2026-06-16
   days on market $65,000 Active 69 DOM
4. 2026-06-15
   days on market $65,000 Active 68 DOM
5. 2026-06-13
   days on market $65,000 Active 66 DOM
6. 2026-06-13
   pricedays on market $65,000 Active 65 DOM
7. 2026-06-09
   days on market $69,900 Active 62 DOM
8. 2026-06-08
   days on market $69,900 Active 61 DOM
9. 2026-06-07
   days on market $69,900 Active 60 DOM
10. 2026-06-04
    days on market $69,900 Active 57 DOM
11. 2026-06-03
    days on market $69,900 Active 56 DOM
12. 2026-06-02
    days on market $69,900 Active 55 DOM
13. 2026-06-01
    days on market $69,900 Active 54 DOM
14. 2026-05-31
    days on market $69,900 Active 53 DOM
15. 2026-05-07
    price $69,900 751-char remark

    Show marketing remark (751 chars)

    Discover clean, modern all-age living in this updated 2-bedroom, 2-full-bath home featuring updated appliances and a fireplace that adds warmth and charm. Enjoy first-rate community amenities including a clubhouse, playground, and storage space for boats and trailers, along with pet-friendly areas and well-lit streets designed with comfort and safety in mind. Located near dining, shopping, and Anoka-Hennepin Schools, this community offers both convenience and access to quality education. With easy access to U.S. Highway 10, you are just 25 minutes from downtown Minneapolis and St. Paul, while also being close to local parks and the National Sports Center. Blaine International Village offers a lifestyle that is both convenient and welcoming.

16. 2026-04-27
    price $74,900 751-char remark

    Show marketing remark (751 chars)

    Discover clean, modern all-age living in this updated 2-bedroom, 2-full-bath home featuring updated appliances and a fireplace that adds warmth and charm. Enjoy first-rate community amenities including a clubhouse, playground, and storage space for boats and trailers, along with pet-friendly areas and well-lit streets designed with comfort and safety in mind. Located near dining, shopping, and Anoka-Hennepin Schools, this community offers both convenience and access to quality education. With easy access to U.S. Highway 10, you are just 25 minutes from downtown Minneapolis and St. Paul, while also being close to local parks and the National Sports Center. Blaine International Village offers a lifestyle that is both convenient and welcoming.

17. 2026-04-08
    listed $79,800 Active 751-char remark

    Show marketing remark (751 chars)

    Discover clean, modern all-age living in this updated 2-bedroom, 2-full-bath home featuring updated appliances and a fireplace that adds warmth and charm. Enjoy first-rate community amenities including a clubhouse, playground, and storage space for boats and trailers, along with pet-friendly areas and well-lit streets designed with comfort and safety in mind. Located near dining, shopping, and Anoka-Hennepin Schools, this community offers both convenience and access to quality education. With easy access to U.S. Highway 10, you are just 25 minutes from downtown Minneapolis and St. Paul, while also being close to local parks and the National Sports Center. Blaine International Village offers a lifestyle that is both convenient and welcoming.

ⓘ 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: $320 · $27/mo
• Projected year-2 tax: $524 · $44/mo
• Expected delta: +$204/yr (+$17/mo · 63.7%)

ⓘ 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 ≥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: $21,503
• − Mortgage interest: −$3,641
• − Property taxes: −$320
• − Insurance: −$325
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$11,436
• − Depreciation: −$1,891
• Taxable income: $450
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $708/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include the kitchen backsplash, bathroom vanity, and exterior siding. Painting the interior walls and updating the backsplash and vanity can significantly enhance the home's resale value.

Repairs flagged

• Minor kitchen backsplash — tile backsplash appears worn
• Minor bathroom vanity — vanity appears dated
• Minor exterior siding — gray siding shows some wear

Value-add opportunities

• Resale paint interior walls — fresh paint can significantly improve curb appeal
• Resale replace kitchen backsplash — new backsplash can enhance kitchen aesthetics
• Resale update bathroom vanity — modern vanity can improve bathroom functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · tile backsplash appears worn	Minor	$500–3,000
bathroom vanity · vanity appears dated	Minor	$500–3,000
exterior siding · gray siding shows some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — fresh paint can significantly improve curb appeal ↑
• Resale replace kitchen backsplash — new backsplash can enhance kitchen aesthetics ↑
• Resale update bathroom vanity — modern vanity can improve bathroom functionality and appearance ↑

ⓘ 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

-12.4% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $79,800 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+34.3%/yr

Latest (2026): $320 · +32.6% YoY. Source: county tax records.