6088 Mill Run Rd · Monticello, MN 55362

$255,000

4 bd · 2.0 ba · 1,575 sqft · SingleFamily public records · 1 Days on market

Built 1997 6,446 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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare 4BR and sought-after OPEN CONCEPT four lvl floor plan features EASY ACCESS TO KITCHEN & liv rm - no stairs when bringing in groceries! Tile BA floor, new laminate floors in the kitchen. ALL APPLIANCES incl + new AC (2016). GARAGE IS DEEPER than most at 21'7" - will fit most FULL-SIZE TRUCKS. Convenient locn for dining, shopping & commuting. Better and cheaper than townhome living with NO ASSOCIATION DUES and you own YOUR OWN YARD for gardening, installing a fence, yours to do what you want!

Key facts

• 6,446 sq ft lot
• 2 garage spots
• Built 1997

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential attached property; Four-or-more-level split layout; Entry level: Main; Block foundation
• Construction: Block foundation
• Exterior features: Vinyl exterior; Storage shed; Lot dimensions approximately 40 x 159 x 40 x 164

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Eat-in layout
• Bedrooms: 4 bedrooms (bedroom sizes: 13 x 12 upper; 11 x 9 upper; 12 x 11 lower; 11 x 9 lower); Family room (14 x 13, lower)
• Flooring: Tile floors
• Bathrooms: One full bathroom (upper level); One 3/4 bathroom (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Tile floors; Vaulted ceilings; Finished basement with daylight/lookout windows; Basement drain tile; Sump pump; Eat-in kitchen
• Laundry & utility: Washer; Dryer; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $233k (8.7% below list).
• Recommended offer: $233k (8.7% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.5% in Monticello — 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 75/100 on livability (#200 in MN, #4,205 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: amenities F, commute F.
• Monticello Public School District (town): math 54% / reading 58% proficiency, ranked #52 of 301 in MN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).
• This rent runs 30% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y 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.
• Current owner paid $155k; list at $255k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $232,832 (8.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-33,209
• Equity at exit: $38,021

10-year hold

• IRR: -8.1%
• Equity multiple: 0.54×
• Total profit: $-32,626
• Equity at exit: $22,048

Cash invested: $71,400 (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 55362

• Home prices YoY: -27.7%
• Rents YoY: 0.7%
• Active inventory: 180
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,328 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$184 /mo · $2,208/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $212

Break-even live

Break-even rent $2,060

Max offer price $255,000

Occupancy floor 86%

Sensitivity live

Price	-10% $356	-5% $284	+0% $212	+5% $140	+10% $68
Rent	-10% $28	-5% $120	+0% $212	+5% $304	+10% $396
Rate	-1.0pp $340	-0.5pp $277	base $212	+0.5pp $146	+1.0pp $79

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2205 Meadow Oak Ave Monticello, MN	3.0	1.0–2.0	1056	$2,315	$2.19	0d	11	0.26mi

Listing history 15 events

1. 2026-05-05
   status Pending
2. 2026-05-05
   listed $255,000 Active
3. 2017-07-07
   soldstatus $155,000
4. 2017-06-29
   soldstatus $155,000 Sold 513-char remark

   Show marketing remark (513 chars)

   Rare 4BR and sought-after OPEN CONCEPT four lvl floor plan features EASY ACCESS TO KITCHEN & liv rm - no stairs when bringing in groceries! Tile BA floor, new laminate floors in the kitchen. ALL APPLIANCES incl + new AC (2016). GARAGE IS DEEPER than most at 21'7" - will fit most FULL-SIZE TRUCKS. Convenient locn for dining, shopping & commuting. Better and cheaper than townhome living with NO ASSOCIATION DUES and you own YOUR OWN YARD for gardening, installing a fence, yours to do what you want!

5. 2017-05-28
   status Pending 513-char remark

   Show marketing remark (513 chars)

   Rare 4BR and sought-after OPEN CONCEPT four lvl floor plan features EASY ACCESS TO KITCHEN & liv rm - no stairs when bringing in groceries! Tile BA floor, new laminate floors in the kitchen. ALL APPLIANCES incl + new AC (2016). GARAGE IS DEEPER than most at 21'7" - will fit most FULL-SIZE TRUCKS. Convenient locn for dining, shopping & commuting. Better and cheaper than townhome living with NO ASSOCIATION DUES and you own YOUR OWN YARD for gardening, installing a fence, yours to do what you want!

6. 2017-05-24
   listed $159,900 Active 513-char remark

   Show marketing remark (513 chars)

   Rare 4BR and sought-after OPEN CONCEPT four lvl floor plan features EASY ACCESS TO KITCHEN & liv rm - no stairs when bringing in groceries! Tile BA floor, new laminate floors in the kitchen. ALL APPLIANCES incl + new AC (2016). GARAGE IS DEEPER than most at 21'7" - will fit most FULL-SIZE TRUCKS. Convenient locn for dining, shopping & commuting. Better and cheaper than townhome living with NO ASSOCIATION DUES and you own YOUR OWN YARD for gardening, installing a fence, yours to do what you want!

7. 2004-11-18
   soldstatus $172,500
8. 2004-08-20
   soldstatus $172,500 156-char remark

   Show marketing remark (156 chars)

   Convienent location! Great four-level twin home with many extras. Newly completed lower levels, Pergo/tile baths, all room's wired multi-media. Quick close!

9. 2004-07-22
   historical 156-char remark

   Show marketing remark (156 chars)

   Convienent location! Great four-level twin home with many extras. Newly completed lower levels, Pergo/tile baths, all room's wired multi-media. Quick close!

10. 2004-07-06
    listed $169,900 156-char remark

    Show marketing remark (156 chars)

    Convienent location! Great four-level twin home with many extras. Newly completed lower levels, Pergo/tile baths, all room's wired multi-media. Quick close!

11. 1997-09-19
    soldstatus $82,900
12. 1997-09-03
    historical
13. 1997-08-24
    listed $82,900
14. 1997-07-30
    historical
15. 1997-06-12
    listed $82,900

ⓘ 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: $2,208 · $184/mo
• Projected year-2 tax: $2,532 · $211/mo
• Expected delta: +$324/yr (+$27/mo · 14.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $27,940
• − Mortgage interest: −$14,284
• − Property taxes: −$2,208
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,235
• − Management: −$2,235
• − Depreciation: −$7,418
• Taxable loss: −$1,716
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $2,954/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: Monticello Public School District
• NCES district ID: 2721390
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $72,678
• Composite: 49.92/100
• National rank: #1936
• State rank: #52 of 301 in MN

Livability — Monticello

• Score: 75/100
• State rank: #200
• US rank: #4205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, MN
• County: Wright County · 79,164 people
• City population: 20,663
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 20,663
• Household income: $91,832
• Rent vs Own: 26.2% rent · 73.8% own
• Severe rent burden: 456.0

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 5% Two or more races 5% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 13% Lithuanian 5% Scottish 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 4% Chinese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.54%
• Current HPI: 241.5101
• Rent YoY: ▲ 0.67%
• 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

+207.6% since first listed

15 events — show timeline

• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Listed $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-07 Sold (Public Records) $155,000 Public Records
• 2017-06-29 Sold (MLS) $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-05-24 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-18 Sold (Public Records) $172,500 Public Records
• 2004-08-20 Sold (MLS) $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-06 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-09-19 Sold (MLS) $82,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-09-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-08-24 Listed $82,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-07-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1997-06-12 Listed $82,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $2,208 · -5.4% YoY. Source: county tax records.