2090 Quentin Ave S

Lake St. Croix Beach, MN 55043

$199,900B-

5 bd · 1.0 ba · 1,580 sqft · Built 1945 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,705/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$293
• HOA: −$0
• Vac / Maint / Mgmt: −$778
• Net cashflow: $1,586/mo
• Annual: $19,035/yr
• Cap rate: 15.82%
• Cash-on-cash: 34.01%
• DSCR: 2.51
• 1% rule: 1.85%
• Cash to close: $55,972

Investor read

• This is a 5-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Stillwater Area Public School District (suburban): math 53% / reading 56% proficiency, ranked #54 of 301 in MN (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Afton-Lakeland Elementary (math 52% / reading 52%, grade C-, #368 of 857 statewide, top 47%, 474 students, 19% FRL); Oak-Land Middle School (math 50% / reading 52%, grade C, #69 of 258 statewide, top 27%, 933 students, 28% FRL); Stillwater Area High School (math 57% / reading 66%, grade B-, #39 of 471 statewide, top 9%, 2,647 students, 20% FRL).
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 1,405 units permitted in Washington County in 2024 (121 in 5+ unit buildings).
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $92k; list at $200k implies a 116% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.