1289 Northdale Blvd NW

Coon Rapids, MN 55448

$125,000C-

1 bd · 1.0 ba · 544 sqft · Built 1984 · Townhouse · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,362/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$133
• HOA: −$195
• Vac / Maint / Mgmt: −$286
• Net cashflow: $92/mo
• Annual: $1,108/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• 1% rule: 1.09%
• Cash to close: $35,000

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $125k.
• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• 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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Eisenhower Elementary (math 64% / reading 61%, grade B, #173 of 857 statewide, top 21%, 473 students, 60% FRL); Northdale Middle (math 40% / reading 55%, grade C-, #93 of 258 statewide, top 37%, 1,274 students, 46% FRL); Coon Rapids High School (math 37% / reading 64%, grade D+, #131 of 471 statewide, top 28%, 2,167 students, 56% FRL) — zoned schools average 54% FRL vs 24% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 127 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,083 units permitted in Anoka County in 2024 (134 in 5+ unit buildings).
• Anoka County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 27y ago; this cycle's ask is 318% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $22k; list at $125k implies a 474% gain — meaningful room to come down on a strong offer.
• Cap rate 7.2% vs local median 3.8% in Coon Rapids — 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.
• This rent is only 16% of the median local income ($103k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.