240 W 7th St · Gibbon, MN 55335

$139,900

4 bd · 3.0 ba · 2,364 sqft · SingleFamily · 59 Days on market

Built 1959 0.49 ac lot

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Why this score? — see what drove the D 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 +8.3/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks MLS

SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

Key facts

• Screened-in porch
• Utility room
• Kitchen

Tags

• KITCHEN
• DINING ROOM
• LIVING ROOM
• SCREENED-IN PORCH
• FAMILY ROOM
• UTILITY ROOM

Property features AI

Finance

• Other: Above grade finished area listed (1,980 sq ft); Below grade finished area listed (384 sq ft); Total living area noted as 2,364 sq ft; Lot size approximately 0.494 acres (dimensions 132 x 134 x 161 x 162)
• Financial info: Property is free and clear (no mortgage noted)

Exterior

• Parking: Attached garage; 2-car garage (approximate dimensions 20 x 24)
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers (Xcel Energy); Fuel available: Electric and Natural Gas
• Home design: Residential property; Two levels; Main level entry (rooms listed on Main, Upper and Lower levels)
• Construction: Frame construction; Metal roof; Block foundation (basement)
• Exterior features: Patio with screened area; Wood exterior; Medium tree coverage on the lot; City street frontage on a public maintained road

Interior

• Kitchen: Kitchen (12 x 12); No appliances included
• Bedrooms: 4 bedrooms (three on upper level, one on upper or main per room labels — bedrooms listed on upper and one generic Bedroom listing); Bedroom sizes include: 16 x 14; 16 x 12; 12 x 13; 12 x 13
• Bathrooms: 2 full bathrooms; 1 half bathroom; Jack & Jill and 1/2 Jack & Jill bathroom configurations noted
• Heating & cooling: Ductless mini-split heating and cooling; Hot water heating
• Interior features: Informal dining area; Wood exterior interior detail (listed under exterior features); Basement with block foundation; Wood burning stove fireplace (1)
• Laundry & utility: Laundry room on lower level (8 x 7)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (2.6% below list).
• Recommended offer: $117k (16.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 66/100 on livability (#503 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, amenities F.
• G.F.W. (rural): math 40% / reading 48% proficiency, ranked #186 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gfw Elementary School (math 52% / reading 47%, grade D, #423 of 857 statewide, top 55%, 199 students, 63% FRL); Gfw Middle School (187 students, 59% FRL); Gfw High School (math 32% / reading 47%, grade F, #246 of 471 statewide, top 59%, 214 students, 43% FRL) — zoned schools average 55% FRL vs 32% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 8 active listings in the ZIP; 27 units permitted in Sibley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($967 loan paydown + $7k appreciation (5.3% local appreciation)).
• Sibley County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,209 (16.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.93%
• DSCR: 0.82
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.68×
• Total profit: $26,568
• Equity at exit: $81,766

10-year hold

• IRR: 11.8%
• Equity multiple: 3.21×
• Total profit: $86,679
• Equity at exit: $143,217

Cash invested: $39,172 (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 55335

• Home prices YoY: 2.8%
• Active inventory: 8
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,363 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$413 /mo · $4,960/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-128

Break-even live

Break-even rent $1,526

Max offer price $117,209

Occupancy floor —

Sensitivity live

Price	-10% $-49	-5% $-89	+0% $-128	+5% $-168	+10% $-208
Rent	-10% $-236	-5% $-182	+0% $-128	+5% $-75	+10% $-21
Rate	-1.0pp $-58	-0.5pp $-93	base $-128	+0.5pp $-165	+1.0pp $-202

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $139,900 Active 59 DOM
2. 2026-06-21
   days on market $139,900 Active 58 DOM
3. 2026-06-18
   days on market $139,900 Active 56 DOM
4. 2026-06-17
   days on market $139,900 Active 55 DOM
5. 2026-06-16
   days on market $139,900 Active 54 DOM
6. 2026-06-15
   days on market $139,900 Active 53 DOM
7. 2026-06-13
   days on market $139,900 Active 51 DOM
8. 2026-06-12
   days on market $139,900 Active 50 DOM
9. 2026-06-09
   days on market $139,900 Active 47 DOM
10. 2026-06-08
    days on market $139,900 Active 46 DOM
11. 2026-06-07
    days on market $139,900 Active 45 DOM
12. 2026-06-07
    days on market $139,900 Active 44 DOM
13. 2026-06-04
    pricedays on market $139,900 Active 41 DOM
14. 2026-06-02
    days on market $149,900 Active 40 DOM
15. 2026-06-01
    days on market $149,900 Active 39 DOM
16. 2026-05-31
    days on market $149,900 Active 38 DOM
17. 2026-05-31
    days on market $149,900 Active 37 DOM
18. 2026-04-23
    listed $149,900 Active
19. 2023-03-31
    soldstatus $135,000 Sold 730-char remark

    Show marketing remark (730 chars)

    SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

20. 2023-02-16
    status Pending 730-char remark

    Show marketing remark (730 chars)

    SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

21. 2023-02-08
    status Active 730-char remark

    Show marketing remark (730 chars)

    SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

22. 2023-01-20
    status Pending 730-char remark

    Show marketing remark (730 chars)

    SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

23. 2022-12-20
    listed $135,000 Active 730-char remark

    Show marketing remark (730 chars)

    SOLD AS-IS. This is a must see & you won't be disappointed! Well preserved original features throughout!! Beautiful wood door opens to a foyer entry. Sunken living room with floor to ceiling windows. Large dining area with built-in hutch/buffet. Kitchen features original metal cabinets & ample counter space. Half bathroom on the main level for guests. All bedrooms are on the upper level plus a full bathroom & a half bathroom from the primary bedrooms that shares the tub/shower. There are 3 toilets total in the house. Venture to the lower level den with woodstove. Screened porch extends living space to the outside. Vintage fixtures, flooring, tile wet walls, cabinets... all beautifully maintained! Cool house.

ⓘ 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: $4,960 · $413/mo
• Projected year-2 tax: $4,960 · $413/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $16,357
• − Mortgage interest: −$7,837
• − Property taxes: −$4,960
• − Insurance: −$700
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$4,070
• Taxable loss: −$3,826
• Est. tax savings @ 24.0%: +$918
• After-tax cash flow: $-623/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: G.F.W.
• NCES district ID: 2712580
• Math proficiency: 40% ▼ -12.00%
• Reading proficiency: 48% ▼ -13.00%
• Median HH income: $50,233
• Composite: 37.81/100
• National rank: #4335
• State rank: #186 of 301 in MN

Livability — Gibbon

• Score: 66/100
• State rank: #503
• US rank: #12030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gibbon, MN
• Population (ZIP): 1,633

Population outlook (Sibley County) Hauer SSP2

• Today (2025): 14,246 people
• By 2030: 13,850 · -2.8%
• By 2040: 12,941 · -9.2%
• By 2050: 11,946 · -16.1%
• By 2075: 10,410 · -26.9%
• By 2100: 9,444 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 8% Romanian 3% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Sibley

• 2024 margin: Solid R (+43.0) · D 27.6% · R 70.7% · Other 1.7%
• 2008→2024 swing: -23.7pp toward R · 2008: -19.3pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+40.8 2016: R+41.9 2012: R+22.8 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.29%
• Current HPI: 197.6521
• 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

+11.0% since first listed

6 events — show timeline

• 2026-04-23 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-31 Sold (MLS) $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-20 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+12.0%/yr

Latest (2026): $4,960 · +51.3% YoY. Source: county tax records.