3907 Hartman Rd · Cherry, MN 55751

$89,900

1 bd · 1.0 ba · 750 sqft · SingleFamily public records · 13 Days on market

Built 1930 1.84 ac lot

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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
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +6.0/10.0
• 1% rule +3.8/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

Key facts

• Spacious yard
• Main floor laundry
• Outdoor deck

Tags

• MAIN FLOOR LAUNDRY
• OUTDOOR DECK
• SPACIOUS YARD
• PEACEFUL RURAL SETTING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/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 $79k (11.7% below list).
• Recommended offer: $79k (11.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St. Louis County School District (rural): math 34% / reading 49% proficiency, ranked #212 of 301 in MN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cherry Elementary (math 37% / reading 52%, grade F, #534 of 857 statewide, top 66%, 307 students, 44% FRL); Cherry Secondary (math 22% / reading 47%, grade F, #306 of 471 statewide, top 70%, 250 students, 42% FRL).
• Market conditions: 7 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.2% local appreciation)).
• At projected returns (3.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,377 (11.7% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.88% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.70×
• Total profit: $17,582
• Equity at exit: $41,304

10-year hold

• IRR: 14.0%
• Equity multiple: 3.11×
• Total profit: $53,165
• Equity at exit: $64,347

Cash invested: $25,172 (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 55751

• Home prices YoY: 1.6%
• Active inventory: 7
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $794 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $94

Break-even live

Break-even rent $675

Max offer price $89,900

Occupancy floor 83%

Sensitivity live

Price	-10% $145	-5% $119	+0% $94	+5% $68	+10% $43
Rent	-10% $31	-5% $62	+0% $94	+5% $125	+10% $156
Rate	-1.0pp $139	-0.5pp $117	base $94	+0.5pp $70	+1.0pp $47

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-23
   status Pending 555-char remark

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

2. 2026-04-23
   status Pending 555-char remark

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

3. 2026-04-23
   status Pending

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

4. 2026-04-15
   historical Contingent - Inspection
5. 2026-04-10
   listed $89,900 Active 555-char remark

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

6. 2026-04-10
   listed $89,900 Active 555-char remark

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

7. 2026-04-10
   listed $89,900 Active

   Show marketing remark (555 chars)

   Country living with space to grow! This 2-bedroom, 1-bath home in Iron sits on 1.84 acres and offers great potential for buyers looking to build equity. Featuring main floor laundry, a bedroom, and a full bath on the main level, plus a tandem style bedroom upstairs. Enjoy the outdoor deck and spacious yard with plenty of room to add a garage or storage shed. This home will require updates, making it a great opportunity for investors or owner-occupants ready to add their personal touch. Peaceful rural setting with room to expand and make it your own.

ⓘ 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: $294 · $24/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$356/yr (+$30/mo · 121.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,525
• − Mortgage interest: −$5,036
• − Property taxes: −$294
• − Insurance: −$450
• − Repairs & maintenance: −$762
• − Management: −$762
• − Depreciation: −$2,615
• Taxable loss: −$393
• Est. tax savings @ 24.0%: +$94
• After-tax cash flow: $1,219/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: St. Louis County School District
• NCES district ID: 2700008
• Math proficiency: 34% ▼ -7.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $49,389
• Composite: 35.63/100
• National rank: #4886
• State rank: #212 of 301 in MN

Livability — Cherry

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,364

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 13% Lithuanian 3% Scottish 3%
• Foreign-born: 0% · Canada

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.17%
• Current HPI: 205.7355
• 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

+0.0% since first listed

7 events — show timeline

• 2026-04-23 Pending — LSAR
• 2026-04-23 Pending — RAOR
• 2026-04-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $89,900 LSAR
• 2026-04-10 Listed $89,900 RAOR
• 2026-04-10 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $294 · +7.3% YoY. Source: county tax records.