35167 S Quiet Aly #6 · Breezy Point, MN 56472

$105,000

4 bd · 5.0 ba · 3,200 sqft · Townhouse · 47 Days on market

Built 2023 Excellent condition 12 ac lot $209/mo HOA · 14% 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 +24.4/30.0
• 1% rule +8.8/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this recently built four bedroom, five bath home on Clamshell Lake of the Whitefish Chain. Home was just completed in 2023 by Nor-Son Custom Builders. This 1/10th ownership offers 10 shares and you will be able to enjoy true maintenance free living in a beautiful, exceptionally cared for lake home on Clamshell Lake. This fractional ownership allows you to enjoy all the Whitefish Chain has to offer and the ability to rent your lake home and reap the financial benefits. Attention to detail is the only way to describe this home; from the custom cabinets, granite countertops, tiled back splash, custom wet bar upstairs, open floor plan, tiled showers, fireplace and so much more. Enjoy

Key facts

• Clamshell lake
• Custom cabinets
• Whitefish chain

Tags

• CLAMSHELL LAKE
• WHITEFISH CHAIN
• MAINTENANCE FREE LIVING
• CUSTOM CABINETS
• GRANITE COUNTERTOPS
• TILED BACK SPLASH

Property features AI

Finance

• Other: Shared rooms/amenities include amusement/party room, club house, and play area; Property offers deeded association access to lake, shared dock, lake view, approximately 470 feet of waterfront with sand bottom and 0–4' waterfront elevation; a road lies between the home and the waterfront; Lot approximately 12.5 acres (dimensions 470 x 1200) with private maintained road and dead-end/private road frontage
• HOA & community: Clamshell Homeowners Association; Annual association fee; Association amenities include beach, boat slip, dock, in-ground sprinkler system, and shared recreation/amenities; Association fee covers utilities and services such as air conditioning, heating, electricity, gas, cable TV, internet, hazard insurance, lawn care, grounds maintenance, parking, professional management, snow removal and beach/dock access

Exterior

• Parking: Parking lot
• Utilities: Private/shared well water; Shared water system available; Private sewer with shared septic (compliant); Electric service with circuit breakers, 100 amp service; Fuel: Electric and natural gas
• Home design: Residential property, attached; Two levels; New construction; Pitched roof (8 years old or newer)
• Construction: Frame construction; Slab foundation; Foundation dimensions approximately 58 x 28
• Exterior features: Patio; Stone exterior accents; Accessible shoreline; Cleared lot with light tree coverage; Underground utilities; No fencing listed

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances; Exhaust fan
• Bedrooms: 4 bedrooms (combination of main and upper levels)
• Bathrooms: 4 full baths and 1 half bath; Two private primary baths, one full primary bath, one main floor full bath, one upper level full bath, and a main floor half bath
• Heating & cooling: Forced air heat; Fireplace heat; Central air conditioning
• Interior features: One gas fireplace with circulating system; Eat-in kitchen; Air-to-air exchanger; Ceiling fans; Door lever handles for accessibility
• Laundry & utility: Main level laundry; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/5.0-bath townhouse listed at $105k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 1.1% in Breezy Point — 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 70/100 on livability (#330 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: health & safety C-, amenities F, commute F.
• Pequot Lakes Public Schools (rural): math 40% / reading 57% proficiency, ranked #137 of 301 in MN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eagle View Elementary (math 69% / reading 57%, grade B, #168 of 857 statewide, top 20%, 601 students, 39% FRL); Pequot Lakes Middle (math 30% / reading 57%, grade D, #128 of 258 statewide, top 49%, 576 students, 38% FRL); Pequot Lakes Senior High (math 32% / reading 57%, grade F, #189 of 471 statewide, top 44%, 620 students, 33% FRL) — zoned schools average 37% FRL vs 20% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 277 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.38% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 6.0

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,240
• Equity at exit: $15,656

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $15,333
• Equity at exit: $9,078

Cash invested: $29,400 (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 56472

• Home prices YoY: -10.7%
• Active inventory: 277
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$209
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $214

Break-even live

Break-even rent $1,183

Max offer price $105,000

Occupancy floor 80%

Sensitivity live

Price	-10% $286	-5% $250	+0% $214	+5% $178	+10% $141
Rent	-10% $99	-5% $156	+0% $214	+5% $271	+10% $329
Rate	-1.0pp $267	-0.5pp $241	base $214	+0.5pp $187	+1.0pp $159

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $209 · $2,508/yr

Listing history 23 events

1. 2026-06-22
   days on market $105,000 Active 47 DOM
2. 2026-06-21
   days on market $105,000 Active 46 DOM
3. 2026-06-21
   days on market $105,000 Active 45 DOM
4. 2026-06-18
   days on market $105,000 Active 43 DOM
5. 2026-06-17
   days on market $105,000 Active 42 DOM
6. 2026-06-16
   days on market $105,000 Active 41 DOM
7. 2026-06-15
   days on market $105,000 Active 40 DOM
8. 2026-06-13
   days on market $105,000 Active 38 DOM
9. 2026-06-12
   days on market $105,000 Active 37 DOM
10. 2026-06-09
    days on market $105,000 Active 34 DOM
11. 2026-06-08
    days on market $105,000 Active 33 DOM
12. 2026-06-07
    days on market $105,000 Active 32 DOM
13. 2026-06-07
    days on market $105,000 Active 31 DOM
14. 2026-06-04
    days on market $105,000 Active 28 DOM
15. 2026-06-02
    days on market $105,000 Active 27 DOM
16. 2026-06-01
    days on market $105,000 Active 26 DOM
17. 2026-05-31
    days on market $105,000 Active 25 DOM
18. 2026-05-31
    days on market $105,000 Active 24 DOM
19. 2026-05-06
    listed $105,000 Active 865-char remark
20. 2025-10-01
    historical
21. 2024-09-12
    listed $120,000 Active
22. 2024-08-26
    historical
23. 2023-08-29
    listed $120,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,446
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − HOA: −$2,508
• − Depreciation: −$3,055
• Taxable income: $1,111
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $2,300/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

Excellent 95/100 None rehab

This recently built four-bedroom, five-bath home on Clamshell Lake offers exceptional quality and maintenance-free living. The property is move-in ready with modern finishes and a beautiful lakeside setting.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — refreshes interior and exterior
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — refreshes interior and exterior ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Pequot Lakes Public Schools
• NCES district ID: 2728200
• Math proficiency: 40% ▼ -24.00%
• Reading proficiency: 57% ▼ -13.00%
• Median HH income: $51,513
• Composite: 41.62/100
• National rank: #3430
• State rank: #137 of 301 in MN

Livability — Breezy Point

• Score: 70/100
• State rank: #330
• US rank: #7469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,764

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 17% Romanian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.90%
• Current HPI: 208.0163
• 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

-12.5% since first listed

5 events — show timeline

• 2026-05-06 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-12 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-29 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid