7823 Lamont Ave NE · Otsego, MN 55301

$382,900

4 bd · 1.0 ba · 1,680 sqft · SingleFamily public records · 42 Days on market

Built 2005 9,016 sqft lot $228/sqft · at area comps Est $445k · 14% under

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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 +14.8/30.0
• ARV discount +13.8/15.0
• Schools +5.2/10.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 4-level split home. Open floor plan on main level with vaulted ceiling and railing to upper level, allows you to sit & visit from both levels. Kitchen is very spacious with lots of cabinets, casual dining and breakfast bar. Upper living room has large picture window and gas fireplace. 2 bedrooms on upper level. Lower Level has a family room and 3rd bedroom. Don't forget the 4th level with a 4th bedroom and closet. See this one today.

Key facts

• 9,016 sq ft lot
• 2 garage spots
• Built 2005

Property features AI

Exterior

• Parking: Attached garage with automatic door opener; 2-car garage (22x22) with 7' high by 16' wide door; Asphalt driveway
• Utilities: City water connected (city water in street); City sewer connected (city sewer in street); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property; Four-or-more level split; Main entry level includes kitchen, dining and living spaces; Shaded facing direction not specified
• Construction: Block construction; Block foundation; Roof replaced within last 8 years; Foundation area approximately 1,006
• Exterior features: Vinyl exterior; Deck and patio; Patio (15x13); Deck (8x14); Chain link partial fencing; Storage shed; Pond on property; Light tree coverage; Lot dimensions approximately 150x60; Property on a cul-de-sac with paved streets (publicly maintained)

Interior

• Kitchen: Range; Microwave; Dishwasher; Disposal; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms total; Upper level bedroom (12x12); Upper level bedroom (12x10); Lower level bedroom (13x12); Additional bedroom (13x8)
• Bathrooms: Upper level full bath; Basement 3/4 bath
• Heating & cooling: Forced air heating; Fireplace(s) contribute to heating; Central air conditioning
• Interior features: Vaulted ceilings; Ceiling fan(s); Finished basement with storage space and egress window(s); Sump pump; Kitchen window; Water softener (owned); Washer/dryer hookup
• Laundry & utility: Washer hookup; Dryer hookup (gas); Dryer; Washer; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $383k.

Deal economics

• At list price, monthly cash flow is $108 ($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 $323k (15.7% below list).
• Recommended offer: $323k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.0% in Otsego — 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 69/100 on livability (#367 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, amenities F, commute F.
• Independent School District 728 (suburban): math 56% / reading 60% proficiency, ranked #37 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• It's been on market 42 days — a 3% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $27k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $322,902 (15.7% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.84% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (median comp): $444,873
• List price: $382,900
• Delta: -12.36%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-55,239
• Equity at exit: $57,092

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-39,546
• Equity at exit: $33,106

Cash invested: $107,212 (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 55301

• Home prices YoY: -14.2%
• Active inventory: 141
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,229 medium
• Mortgage (P&I): −$2,008
• Tax from tax record: −$275 /mo · $3,304/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $108

Break-even live

Break-even rent $3,092

Max offer price $382,900

Occupancy floor 92%

Sensitivity live

Price	-10% $325	-5% $216	+0% $108	+5% $0	+10% $-109
Rent	-10% $-147	-5% $-19	+0% $108	+5% $236	+10% $363
Rate	-1.0pp $301	-0.5pp $205	base $108	+0.5pp $9	+1.0pp $-92

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: $95,725
• Closing costs: $11,487
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7712 Lachman Ave NE Albertville, MN	3.0	2.0	1525	$2,259	$1.48	0d	1	0.17mi
7535 Lannon Ave NE Albertville, MN	5.0	3.0	2209	$3,179	$1.44	0d	1	0.48mi

Listing history 26 events

1. 2026-06-18
   days on market $382,900 Active 42 DOM
2. 2026-06-17
   pricedays on market $382,900 Active 41 DOM
3. 2026-06-09
   days on market $389,900 Active 40 DOM
4. 2026-06-08
   days on market $389,900 Active 39 DOM
5. 2026-06-07
   days on market $389,900 Active 38 DOM
6. 2026-06-04
   days on market $389,900 Active 35 DOM
7. 2026-06-03
   days on market $389,900 Active 34 DOM
8. 2026-06-02
   days on market $389,900 Active 33 DOM
9. 2026-06-01
   days on market $389,900 Active 32 DOM
10. 2026-05-31
    days on market $389,900 Active 31 DOM
11. 2026-05-11
    price $394,500 699-char remark
12. 2026-05-01
    listed $410,000 Active 699-char remark
13. 2026-04-28
    historical $410,000 699-char remark
14. 2020-10-20
    soldstatus $260,000
15. 2020-09-15
    soldstatus $260,000 Sold 453-char remark

    Show marketing remark (453 chars)

    Cute 4-level split home. Open floor plan on main level with vaulted ceiling and railing to upper level, allows you to sit & visit from both levels. Kitchen is very spacious with lots of cabinets, casual dining and breakfast bar. Upper living room has large picture window and gas fireplace. 2 bedrooms on upper level. Lower Level has a family room and 3rd bedroom. Don't forget the 4th level with a 4th bedroom and closet. See this one today.

16. 2020-08-03
    status Pending 453-char remark

    Show marketing remark (453 chars)

    Cute 4-level split home. Open floor plan on main level with vaulted ceiling and railing to upper level, allows you to sit & visit from both levels. Kitchen is very spacious with lots of cabinets, casual dining and breakfast bar. Upper living room has large picture window and gas fireplace. 2 bedrooms on upper level. Lower Level has a family room and 3rd bedroom. Don't forget the 4th level with a 4th bedroom and closet. See this one today.

17. 2020-07-24
    historical Contingent - Inspection 453-char remark

    Show marketing remark (453 chars)

    Cute 4-level split home. Open floor plan on main level with vaulted ceiling and railing to upper level, allows you to sit & visit from both levels. Kitchen is very spacious with lots of cabinets, casual dining and breakfast bar. Upper living room has large picture window and gas fireplace. 2 bedrooms on upper level. Lower Level has a family room and 3rd bedroom. Don't forget the 4th level with a 4th bedroom and closet. See this one today.

18. 2020-07-14
    listed $260,000 Active 453-char remark

    Show marketing remark (453 chars)

    Cute 4-level split home. Open floor plan on main level with vaulted ceiling and railing to upper level, allows you to sit & visit from both levels. Kitchen is very spacious with lots of cabinets, casual dining and breakfast bar. Upper living room has large picture window and gas fireplace. 2 bedrooms on upper level. Lower Level has a family room and 3rd bedroom. Don't forget the 4th level with a 4th bedroom and closet. See this one today.

19. 2016-08-30
    historical
20. 2016-07-30
    price $219,900
21. 2016-06-05
    listed $229,900 Active
22. 2005-08-19
    soldstatus $231,940
23. 2005-07-29
    soldstatus $70,900
24. 2005-04-28
    historical
25. 2005-04-27
    soldstatus $62,900
26. 2005-04-26
    listed $233,140

ⓘ 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: $3,304 · $275/mo
• Projected year-2 tax: $3,796 · $316/mo
• Expected delta: +$492/yr (+$41/mo · 14.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 69% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,748
• − Mortgage interest: −$21,448
• − Property taxes: −$3,304
• − Insurance: −$1,914
• − Repairs & maintenance: −$3,100
• − Management: −$3,100
• − Depreciation: −$11,139
• Taxable loss: −$5,257
• Est. tax savings @ 24.0%: +$1,262
• After-tax cash flow: $2,559/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: Independent School District 728
• NCES district ID: 2711370
• Math proficiency: 56% ▼ -15.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $82,336
• Composite: 52.5/100
• National rank: #1567
• State rank: #37 of 301 in MN

Livability — Otsego

• Score: 69/100
• State rank: #367
• US rank: #8641

Category grades

Amenities F Commute F 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: Otsego, MN
• County: Wright County · 79,164 people
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 13,482
• Household income: $129,232
• Rent vs Own: 8.6% rent · 91.4% own
• Severe rent burden: 50.0

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 (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 10% Romanian 5% Lithuanian 4%
• Foreign-born: 7% · South Korea, China, Canada

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: ▼ -38.52%
• Current HPI: 233.6299
• 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

+64.2% since first listed

19 events — show timeline

• 2026-06-17 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-17 Price Changed $382,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $389,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $394,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $410,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Coming Soon $410,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-20 Sold (Public Records) $260,000 Public Records
• 2020-09-15 Sold (MLS) $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-14 Listed $260,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-30 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-05 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-19 Sold (MLS) $231,940 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-29 Sold (Public Records) $70,900 Public Records
• 2005-04-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-27 Sold (Public Records) $62,900 Public Records
• 2005-04-26 Listed $233,140 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $3,304 · -5.9% YoY. Source: county tax records.