33684 Anderson Ct · Crosslake, MN 56442

$299,000

3 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 90 Days on market

Built 1991 0.96 ac lot ↓ 13% since listing

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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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake Access And Dock Space on Crosslake/WFC!! Don't miss out on this incredible opportunity located in Crosslake, MN!! This property features lake access and dock space on Crosslake of The Whitefish Chain of lakes!! The access lot is just a short walk from the home and you have your own dedicated dock space to keep your boat!! Outside this property features a nice level lot, mature trees, a detached 2 car garage, two decks and paved driveway!! Inside this home features a primary bedroom with primary bathroom and walk in closet, a nice living room and dining room spaces, a kitchen with ample cabinet space, dedicated laundry room space, a 2nd and 3rd bedroom, full bath. This property is conveniently located just minutes from Crosslake, several lakes, golf courses, dining options and so much more!! Start exploring the Whitefish Chain Of Lakes today!!

Key facts

• Level lot
• Dock space
• Two decks

Tags

• LAKE ACCESS
• DOCK SPACE
• LEVEL LOT
• MATURE TREES
• DETACHED GARAGE
• TWO DECKS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $63 ($757/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 $239k (20.1% below list).
• Recommended offer: $239k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.4% in Crosslake — 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 63/100 on livability (#628 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A, housing 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: 117 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 $2k of loan paydown is wiped out by about $9k 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 90 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,982 (20.1% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.80% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 10.4

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-44,547
• Equity at exit: $44,582

10-year hold

• IRR: -6.3%
• Equity multiple: 0.59×
• Total profit: $-34,076
• Equity at exit: $25,852

Cash invested: $83,720 (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 56442

• Home prices YoY: -19.4%
• Active inventory: 117
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,390 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $63

Break-even live

Break-even rent $2,310

Max offer price $299,000

Occupancy floor 92%

Sensitivity live

Price	-10% $232	-5% $148	+0% $63	+5% $-22	+10% $-106
Rent	-10% $-126	-5% $-31	+0% $63	+5% $157	+10% $252
Rate	-1.0pp $214	-0.5pp $139	base $63	+0.5pp $-14	+1.0pp $-93

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-17
   statusdays on market $299,000 Pending 90 DOM
2. 2026-06-16
   days on market $299,000 Contingent - Inspection 89 DOM
3. 2026-06-15
   days on market $299,000 Contingent - Inspection 88 DOM
4. 2026-06-13
   days on market $299,000 Contingent - Inspection 86 DOM
5. 2026-06-12
   days on market $299,000 Contingent - Inspection 85 DOM
6. 2026-06-09
   days on market $299,000 Contingent - Inspection 82 DOM
7. 2026-06-08
   days on market $299,000 Contingent - Inspection 81 DOM
8. 2026-06-07
   days on market $299,000 Contingent - Inspection 80 DOM
9. 2026-06-07
   days on market $299,000 Contingent - Inspection 79 DOM
10. 2026-06-04
    days on market $299,000 Contingent - Inspection 76 DOM
11. 2026-06-03
    status $299,000 Contingent - Inspection 75 DOM
12. 2026-06-02
    days on market $299,000 Active 75 DOM
13. 2026-06-01
    days on market $299,000 Active 74 DOM
14. 2026-05-31
    days on market $299,000 Active 73 DOM
15. 2026-05-31
    days on market $299,000 Active 72 DOM
16. 2026-05-05
    price $299,000 859-char remark

    Show marketing remark (859 chars)

    Lake Access And Dock Space on Crosslake/WFC!! Don't miss out on this incredible opportunity located in Crosslake, MN!! This property features lake access and dock space on Crosslake of The Whitefish Chain of lakes!! The access lot is just a short walk from the home and you have your own dedicated dock space to keep your boat!! Outside this property features a nice level lot, mature trees, a detached 2 car garage, two decks and paved driveway!! Inside this home features a primary bedroom with primary bathroom and walk in closet, a nice living room and dining room spaces, a kitchen with ample cabinet space, dedicated laundry room space, a 2nd and 3rd bedroom, full bath. This property is conveniently located just minutes from Crosslake, several lakes, golf courses, dining options and so much more!! Start exploring the Whitefish Chain Of Lakes today!!

17. 2026-03-19
    listed $319,900 Active 859-char remark

    Show marketing remark (859 chars)

    Lake Access And Dock Space on Crosslake/WFC!! Don't miss out on this incredible opportunity located in Crosslake, MN!! This property features lake access and dock space on Crosslake of The Whitefish Chain of lakes!! The access lot is just a short walk from the home and you have your own dedicated dock space to keep your boat!! Outside this property features a nice level lot, mature trees, a detached 2 car garage, two decks and paved driveway!! Inside this home features a primary bedroom with primary bathroom and walk in closet, a nice living room and dining room spaces, a kitchen with ample cabinet space, dedicated laundry room space, a 2nd and 3rd bedroom, full bath. This property is conveniently located just minutes from Crosslake, several lakes, golf courses, dining options and so much more!! Start exploring the Whitefish Chain Of Lakes today!!

18. 2025-04-16
    listed $345,000 Active

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $2,468 · $206/mo
• Expected delta: +$880/yr (+$73/mo · 55.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,678
• − Mortgage interest: −$16,749
• − Property taxes: −$1,588
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,294
• − Management: −$2,294
• − Depreciation: −$8,698
• Taxable loss: −$4,440
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $1,822/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: 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 — Crosslake

• Score: 63/100
• State rank: #628
• US rank: #15018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crosslake, MN
• City population: 2,895
• Population (ZIP): 2,895

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 18% Lithuanian 6% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Other Indo-European 1% Spanish 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: ▼ -52.60%
• Current HPI: 218.1511
• 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

-13.3% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-19 Listed $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-16 Listed $345,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $1,588 · +13.4% YoY. Source: county tax records.