12191 Grouse St NW #408 · Coon Rapids, MN 55448

$230,000

3 bd · 2.0 ba · 1,368 sqft · Condo public records · 73 Days on market

Built 1984 $168/sqft · 6% below area Est $242k · at est. $398/mo HOA · 20% of rent

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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).

• ARV discount +9.7/15.0
• Cash flow +7.2/30.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the charm of this cozy upper-level manor home, featuring 3 spacious bedrooms and 2 bathrooms, nestled on a peaceful cul-de-sac. This property boasts numerous amenities, including a walkout from the dining room to a newly painted deck that provides stunning views of a serene, private backyard. Enjoy both formal and informal dining options in a stylish, neutral décor. The home includes a water softener, plenty of storage, and a convenient laundry room with utilities. The primary bedroom offers the bonus of a 3/4 bathroom for your comfort. With parks, shopping, and entertainment just around the corner, this home is truly a must-see! Please be aware that rental restrictions apply, and there are no signs on the property.

Key facts

• Private deck
• Treed backyard
• $398 HOA

Tags

• WALKOUT FROM DINING ROOM
• PRIVATE DECK
• TREED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.7% below list).
• Recommended offer: $174k (24.5% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 3.8% in Coon Rapids — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 86/100 on livability (#12 in MN, #390 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities D.
• Anoka-Hennepin Public School District (suburban): math 49% / reading 55% proficiency, ranked #71 of 301 in MN (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 115 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 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 $7k of value loss. Plan a longer hold.
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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 $177k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $173,728 (24.5% 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. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.94%
• DSCR: 0.74
• GRM: 9.8

CMA / ARV

• ARV (median comp): $241,999
• List price: $230,000
• Delta: -4.96%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-57,357
• Equity at exit: $34,294

10-year hold

• IRR: -23.1%
• Equity multiple: -0.17×
• Total profit: $-75,253
• Equity at exit: $19,886

Cash invested: $64,400 (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 55448

• Home prices YoY: -27.6%
• Active inventory: 115
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,962 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$169 /mo · $2,023/yr
• Insurance: −$96
• HOA: −$398
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-319

Break-even live

Break-even rent $2,365

Max offer price $173,728

Occupancy floor —

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12186 Drake St NW Minneapolis, MN	2.0	1.0	1100	$1,695	$1.54	43d	1	0.13mi
12114 Drake St NW Minneapolis, MN	3.0	2.0	1460	$1,895	$1.30	43d	1	0.20mi
1770 121st Ave NW Minneapolis, MN	1.0–3.0	1.0–2.0	1075	$2,120	$1.97	1d	11	0.41mi
11639 Raven St NW Coon Rapids, MN	2.0–3.0	1.0–2.0	900	$1,850	$2.06	1d	5	1.03mi
11360 Robinson Dr Coon Rapids, MN	1.0–3.0	1.0–2.0	1029	$1,874	$1.82	24d	1	1.07mi

HOA detail condo

• Monthly dues: $398 · $4,776/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $230,000 Active 73 DOM
2. 2026-06-17
   days on market $230,000 Active 72 DOM
3. 2026-06-16
   days on market $230,000 Active 71 DOM
4. 2026-06-15
   days on market $230,000 Active 70 DOM
5. 2026-06-13
   days on market $230,000 Active 68 DOM
6. 2026-06-13
   days on market $230,000 Active 67 DOM
7. 2026-06-09
   days on market $230,000 Active 64 DOM
8. 2026-06-08
   days on market $230,000 Active 63 DOM
9. 2026-06-07
   days on market $230,000 Active 62 DOM
10. 2026-06-04
    days on market $230,000 Active 59 DOM
11. 2026-06-03
    days on market $230,000 Active 58 DOM
12. 2026-06-02
    days on market $230,000 Active 57 DOM
13. 2026-06-01
    days on market $230,000 Active 56 DOM
14. 2026-05-31
    days on market $230,000 Active 55 DOM
15. 2026-04-06
    listed $230,000 Active 741-char remark

    Show marketing remark (741 chars)

    Discover the charm of this cozy upper-level manor home, featuring 3 spacious bedrooms and 2 bathrooms, nestled on a peaceful cul-de-sac. This property boasts numerous amenities, including a walkout from the dining room to a newly painted deck that provides stunning views of a serene, private backyard. Enjoy both formal and informal dining options in a stylish, neutral décor. The home includes a water softener, plenty of storage, and a convenient laundry room with utilities. The primary bedroom offers the bonus of a 3/4 bathroom for your comfort. With parks, shopping, and entertainment just around the corner, this home is truly a must-see! Please be aware that rental restrictions apply, and there are no signs on the property.

16. 2023-05-05
    soldstatus $177,000 Sold 151-char remark

    Show marketing remark (151 chars)

    Sold "as is" Cash only. 2 bedroom, 2 bath Upper Unit with 1 car garage. Nice view from deck! Kitchen has SS appliances.. nice floor plan.

17. 2023-05-05
    soldstatus $177,000

    Show marketing remark (151 chars)

    Sold "as is" Cash only. 2 bedroom, 2 bath Upper Unit with 1 car garage. Nice view from deck! Kitchen has SS appliances.. nice floor plan.

18. 2023-04-19
    status Pending 151-char remark

    Show marketing remark (151 chars)

    Sold "as is" Cash only. 2 bedroom, 2 bath Upper Unit with 1 car garage. Nice view from deck! Kitchen has SS appliances.. nice floor plan.

19. 2023-04-10
    listed $172,000 Active 151-char remark

    Show marketing remark (151 chars)

    Sold "as is" Cash only. 2 bedroom, 2 bath Upper Unit with 1 car garage. Nice view from deck! Kitchen has SS appliances.. nice floor plan.

20. 1998-06-25
    soldstatus $80,000
21. 1998-05-28
    historical
22. 1998-05-06
    listed $82,900
23. 1996-05-30
    soldstatus $72,100
24. 1996-03-11
    historical
25. 1996-03-07
    listed $72,400

ⓘ 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: $2,023 · $169/mo
• Projected year-2 tax: $2,299 · $192/mo
• Expected delta: +$277/yr (+$23/mo · 13.7%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $23,544
• − Mortgage interest: −$12,884
• − Property taxes: −$2,023
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − HOA: −$4,776
• − Depreciation: −$6,691
• Taxable loss: −$7,746
• Est. tax savings @ 24.0%: +$1,859
• After-tax cash flow: $-1,963/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: Anoka-Hennepin Public School District
• NCES district ID: 2703180
• Math proficiency: 49% ▼ -14.00%
• Reading proficiency: 55% ▼ -10.00%
• Median HH income: $73,837
• Composite: 46.7/100
• National rank: #2400
• State rank: #71 of 301 in MN

Livability — Coon Rapids

• Score: 86/100
• State rank: #12
• US rank: #390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coon Rapids, MN
• County: Anoka County · 277,116 people
• City population: 63,468
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 29,005
• Household income: $103,461
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 221.0

Population outlook (Anoka County) Hauer SSP2

• Today (2025): 375,223 people
• By 2030: 387,850 · +3.4%
• By 2040: 407,239 · +8.5%
• By 2050: 417,541 · +11.3%
• By 2075: 448,447 · +19.5%
• By 2100: 464,954 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 8% Asian 7% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 13% Romanian 5% Lithuanian 3%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 4% Other Asian/Pacific 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Anoka

• 2024 margin: Toss-up / Even · D 46.6% · R 51.0% · Other 2.4%
• 2008→2024 swing: -2.0pp toward R · 2008: -2.4pp · 2024: -4.4pp
• All cycles: 2024: R+4.4 2020: R+1.9 2016: R+9.7 2012: R+2.6 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.29%
• Current HPI: 254.7687
• Rent YoY: —
• 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

+217.7% since first listed

11 events — show timeline

• 2026-04-06 Listed $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-05 Sold (Public Records) $177,000 Public Records
• 2023-05-05 Sold (MLS) $177,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-10 Listed $172,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-06-25 Sold (MLS) $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 1998-05-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1998-05-06 Listed $82,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-05-30 Sold (MLS) $72,100 NORTHSTARMLS as Distributed by MLS Grid
• 1996-03-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-03-07 Listed $72,400 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2026): $2,023 · -3.5% YoY. Source: county tax records.