5 Hays Ave Unit HAY05 · Inver Grove Heights, MN 55076

$76,300

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 189 Days on market

Built 2025 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Modern bathroom
• Premium entry doors
• Built 2025

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• NEW BRAND NAME APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $76k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 3.2% in Inver Grove Heights — 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 76/100 on livability (#146 in MN, #3,277 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, health & safety F.
• Inver Grove Heights Schools (suburban): math 32% / reading 41% proficiency, ranked #234 of 301 in MN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,134 units permitted in Dakota County in 2024 (898 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $528 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dakota County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Recommended offer $67,144 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 2.20% ✓
• Cap rate: 18.86%
• Cash-on-cash: 44.89%
• DSCR: 3.00
• GRM: 3.8

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: 42.0%
• Equity multiple: 2.81×
• Total profit: $38,567
• Equity at exit: $11,377

10-year hold

• IRR: 48.1%
• Equity multiple: 5.64×
• Total profit: $99,235
• Equity at exit: $6,597

Cash invested: $21,364 (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 55076

• Active inventory: 104
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,679 medium
• Mortgage (P&I): −$400
• Tax est. 1.5%: −$95 /mo · $1,144/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $799

Break-even live

Break-even rent $667

Max offer price $76,300

Occupancy floor 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: $19,075
• Closing costs: $2,289
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7535 Cloman Way E Unit A Inver Grove Heights, MN	3.0	1.0	1500	$1,950	$1.30	3d	1	0.59mi
464 Pullman Ave Unit 6 St Paul Park, MN	2.0	1.0	900	$1,375	$1.53	43d	1	1.27mi
1305 6th St Saint Paul Park, MN	2.0	1.0	950	$1,500	$1.58	43d	1	1.38mi

Listing history 10 events

1. 2026-06-09
   days on market $76,300 Active 189 DOM
2. 2026-06-08
   days on market $76,300 Active 188 DOM
3. 2026-06-07
   days on market $76,300 Active 187 DOM
4. 2026-06-04
   days on market $76,300 Active 184 DOM
5. 2026-06-03
   days on market $76,300 Active 183 DOM
6. 2026-06-02
   days on market $76,300 Active 182 DOM
7. 2026-06-01
   pricedays on market $76,300 Active 181 DOM
8. 2026-05-31
   days on market $75,800 Active 180 DOM
9. 2026-02-01
   price $75,800 471-char remark

   Show marketing remark (471 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

10. 2025-12-02
    listed $76,300 Active 471-char remark

    Show marketing remark (471 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a playground, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

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

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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,150
• − Mortgage interest: −$4,274
• − Property taxes: −$1,144
• − Insurance: −$382
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$2,220
• Taxable income: $8,907
• Est. tax owed @ 24.0%: −$2,138
• After-tax cash flow: $7,454/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 · 0 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom home is in excellent condition with modern amenities and is ready for move-in. It offers a good return on investment with minor updates that can further enhance its appeal.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make a home more appealing
• Both Lighting — Modern lighting can improve the home's ambiance and value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make a home more appealing ↑
• Both Lighting — Modern lighting can improve the home's ambiance and 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: Inver Grove Heights Schools
• NCES district ID: 2715030
• Math proficiency: 32% ▼ -16.00%
• Reading proficiency: 41% ▼ -11.00%
• Median HH income: $63,476
• Composite: 32.85/100
• National rank: #5614
• State rank: #234 of 301 in MN

Livability — Inver Grove Heights

• Score: 76/100
• State rank: #146
• US rank: #3277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Inver Grove Heights, MN
• City population: 14,503
• Population (ZIP): 21,258

Population outlook (Dakota County) Hauer SSP2

• Today (2025): 450,671 people
• By 2030: 465,068 · +3.2%
• By 2040: 486,770 · +8.0%
• By 2050: 498,743 · +10.7%
• By 2075: 533,865 · +18.5%
• By 2100: 550,133 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 6% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Portuguese 8% Romanian 5% Scottish 4%
• Foreign-born: 9% · Canada, Jamaica, Vietnam
• Languages at home: 89% English-only · Spanish 7% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Dakota

• 2024 margin: D (+12.9) · D 55.4% · R 42.5% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 5.5pp · 2024: 12.9pp
• All cycles: 2024: D+12.9 2020: D+13.9 2016: D+4.7 2012: D+2.9 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -256.08%
• Current HPI: 209.7955
• 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

-0.7% since first listed

2 events — show timeline

• 2026-02-01 Price Changed $75,800 Zillow
• 2025-12-02 Listed $76,300 Zillow