205 4th Ave SW · Roseau, MN 56751

$115,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 11 Days on market

Built 1987 9,888 sqft lot

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks

Discover the potential in this 3 bedroom, 2 bath home featuring a fantastic layout and a very spacious primary bedroom and ensuite bathroom. With a little TLC, this property offers a great opportunity for homeowners or investors alike. The oversized 2 car garage provides ample room for vehicles, storage, or finish it off and add heat to create an awesome workshop. You will appreciate that this home is conveniently located within walking distance of Polaris and downtown Roseau. If you are looking for a home to make your own, this one is worth a look!

Key facts

• Ensuite bathroom
• Oversized garage
• 9,888 sq ft lot

Tags

• SPACIOUS PRIMARY BEDROOM
• ENSUITE BATHROOM
• OVERSIZED GARAGE

Property features AI

Finance

• Other: Lot approximately 0.227 acres (133x71), city-maintained street frontage

Exterior

• Parking: Attached or detached 2-car garage with 22x32 dimensions
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; Manufactured home; One story; Main entry level; Facing direction not specified
• Construction: Metal roof; Block foundation (28x52 foundation dimensions); Built area above grade: 1,456
• Exterior features: Vinyl exterior; Deck; Patio; Storage shed; No interior stairs (accessible)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (including a primary bathroom on the main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Private primary bedroom; Main floor full bathroom; Kitchen/Dining open concept
• Laundry & utility: Washer; Dryer; Main-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $-13 ($-153/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (21.8% below list).
• Recommended offer: $90k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.5% in Roseau — 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 80/100 on livability (#80 in MN, #1,901 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, commute F.
• Roseau Public School District (town): math 45% / reading 53% proficiency, ranked #125 of 301 in MN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Roseau Elementary (math 52% / reading 60%, grade C+, #304 of 857 statewide, top 36%, 625 students, 34% FRL); Roseau Secondary (math 37% / reading 45%, grade F, #238 of 471 statewide, top 51%, 527 students, 21% FRL).
• Market conditions: 43 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $89,900 (21.8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.78% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 10.7

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-19,479
• Equity at exit: $17,147

10-year hold

• IRR: -9.1%
• Equity multiple: 0.44×
• Total profit: $-18,134
• Equity at exit: $9,943

Cash invested: $32,200 (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 56751

• Home prices YoY: -3.0%
• Active inventory: 43
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $-13

Break-even live

Break-even rent $915

Max offer price $112,743

Occupancy floor 96%

Sensitivity live

Price	-10% $52	-5% $20	+0% $-13	+5% $-45	+10% $-78
Rent	-10% $-84	-5% $-48	+0% $-13	+5% $23	+10% $58
Rate	-1.0pp $45	-0.5pp $16	base $-13	+0.5pp $-43	+1.0pp $-73

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 3rd Ave SW Unit 1204 Roseau, MN	2.0	1.0	946	$899	$0.95	45d	1	0.58mi
905 3rd Ave SW Roseau, MN	1.0–2.0	1.0	792	$899	$1.14	45d	2	0.58mi

Listing history 10 events

1. 2026-06-22
   days on market $115,000 Active 11 DOM
2. 2026-06-21
   days on market $115,000 Active 10 DOM
3. 2026-06-21
   days on market $115,000 Active 9 DOM
4. 2026-06-18
   days on market $115,000 Active 7 DOM
5. 2026-06-17
   days on market $115,000 Active 6 DOM
6. 2026-06-16
   days on market $115,000 Active 5 DOM
7. 2026-06-15
   days on market $115,000 Active 4 DOM
8. 2026-06-13
   days on market $115,000 Active 2 DOM
9. 2026-06-12
   remarks 555-char remark
10. 2026-06-12
    listed $115,000 Active 1 DOM

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $1,076 · $90/mo
• Expected delta: +$212/yr (+$18/mo · 24.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,788
• − Mortgage interest: −$6,442
• − Property taxes: −$864
• − Insurance: −$575
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$3,345
• Taxable loss: −$2,164
• Est. tax savings @ 24.0%: +$519
• After-tax cash flow: $366/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: Roseau Public School District
• NCES district ID: 2732250
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $54,940
• Composite: 42.4/100
• National rank: #3232
• State rank: #125 of 301 in MN

Livability — Roseau

• Score: 80/100
• State rank: #80
• US rank: #1901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roseau, MN
• Population (ZIP): 5,776

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 2% Black 2%
• Common ancestry: Portuguese 29% Lithuanian 5% Scottish 5%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.59%
• Current HPI: 217.2504
• 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

1 event — show timeline

• 2026-06-10 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.3%/yr

Latest (2026): $864 · +14.3% YoY. Source: county tax records.