15554 State Hwy 1 · Cook, MN 55723

$59,500

2 bd · 1.0 ba · 450 sqft · Other public records · 146 Days on market

Built 2001 22 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your social distancing oasis!! Located just a quick walk away from a local restaurant/tavern you can pick up those togo meals too up in the Northwoods of Minnesota! 22+ Acres, darling little 2 bedroom cabin with a loft has electricity and holding tank for conveniences in the deep woods! This property ADJOINS PUBLIC LANDS to the North; and there are trails galore and nearby lakes for your recreation needs. This is an affordable get away! Call today for your personal tour!

Key facts

• 22.5 acre lot
• Built 2001
• Listed 146 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($793 rent vs $60k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 0.7% in Cook — 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 65/100 on livability (#545 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, health & safety D.
• Grand Rapids Public School District (town): math 46% / reading 55% proficiency, ranked #119 of 301 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 84 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Recommended offer $52,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.15%
• DSCR: 1.76
• GRM: 6.3

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: 8.4%
• Equity multiple: 1.33×
• Total profit: $5,520
• Equity at exit: $8,872

10-year hold

• IRR: 17.7%
• Equity multiple: 2.46×
• Total profit: $24,323
• Equity at exit: $5,144

Cash invested: $16,660 (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 55723

• Home prices YoY: -22.9%
• Active inventory: 84
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $793 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$51 /mo · $616/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $238

Break-even live

Break-even rent $491

Max offer price $59,500

Occupancy floor 65%

Sensitivity live

Price	-10% $272	-5% $255	+0% $238	+5% $221	+10% $204
Rent	-10% $175	-5% $207	+0% $238	+5% $269	+10% $301
Rate	-1.0pp $268	-0.5pp $253	base $238	+0.5pp $223	+1.0pp $207

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2021-01-31
   status Pending
2. 2021-01-27
   status Pending
3. 2021-01-26
   status Pending
4. 2020-10-19
   status Pending

   Show marketing remark (479 chars)

   Your social distancing oasis!! Located just a quick walk away from a local restaurant/tavern you can pick up those togo meals too up in the Northwoods of Minnesota! 22+ Acres, darling little 2 bedroom cabin with a loft has electricity and holding tank for conveniences in the deep woods! This property ADJOINS PUBLIC LANDS to the North; and there are trails galore and nearby lakes for your recreation needs. This is an affordable get away! Call today for your personal tour!

5. 2020-10-19
   historical 479-char remark

   Show marketing remark (479 chars)

   Your social distancing oasis!! Located just a quick walk away from a local restaurant/tavern you can pick up those togo meals too up in the Northwoods of Minnesota! 22+ Acres, darling little 2 bedroom cabin with a loft has electricity and holding tank for conveniences in the deep woods! This property ADJOINS PUBLIC LANDS to the North; and there are trails galore and nearby lakes for your recreation needs. This is an affordable get away! Call today for your personal tour!

6. 2020-10-07
   historical Contingent - Inspection
7. 2020-05-26
   listed $59,500 Active

   Show marketing remark (479 chars)

   Your social distancing oasis!! Located just a quick walk away from a local restaurant/tavern you can pick up those togo meals too up in the Northwoods of Minnesota! 22+ Acres, darling little 2 bedroom cabin with a loft has electricity and holding tank for conveniences in the deep woods! This property ADJOINS PUBLIC LANDS to the North; and there are trails galore and nearby lakes for your recreation needs. This is an affordable get away! Call today for your personal tour!

8. 2020-05-26
   listed $59,500 479-char remark

   Show marketing remark (479 chars)

   Your social distancing oasis!! Located just a quick walk away from a local restaurant/tavern you can pick up those togo meals too up in the Northwoods of Minnesota! 22+ Acres, darling little 2 bedroom cabin with a loft has electricity and holding tank for conveniences in the deep woods! This property ADJOINS PUBLIC LANDS to the North; and there are trails galore and nearby lakes for your recreation needs. This is an affordable get away! Call today for your personal tour!

ⓘ 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: $616 · $51/mo
• Projected year-2 tax: $641 · $53/mo
• Expected delta: +$25/yr (+$2/mo · 4.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,512
• − Mortgage interest: −$3,333
• − Property taxes: −$616
• − Insurance: −$298
• − Repairs & maintenance: −$761
• − Management: −$761
• − Depreciation: −$1,731
• Taxable income: $2,013
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,374/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: Grand Rapids Public School District
• NCES district ID: 2713170
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $49,762
• Composite: 43.14/100
• National rank: #3077
• State rank: #119 of 301 in MN

Livability — Cook

• Score: 65/100
• State rank: #545
• US rank: #13111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,861

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.80%
• Current HPI: 194.5825
• 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

+0.0% since first listed

8 events — show timeline

• 2021-01-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-19 Delisted — LSAR
• 2020-10-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-26 Listed $59,500 LSAR
• 2020-05-26 Listed $59,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2026): $616 · -2.8% YoY. Source: county tax records.