212 S Center St · Ceylon, MN 56121

$85,000

4 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 69 Days on market

Built 1920 0.48 ac lot $57/sqft · 102% above area

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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 +9.6/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home will be a beautiful home with a little more TLC!! This 4 bedroom 2 bath home has large living room and dining room area. Kitchen has island and larger window. 2 bedrooms and full bath on the main floor. With two more bedrooms and 3/4 bath upstairs. Hardwood floors just need to be finished. Most of the windows in the home are newer, metal roof. New boiler system in basement just a couple years ago. Larger corner lot.

Key facts

• 0.48 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#863 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Fairmont Area School District (town): math 45% / reading 51% proficiency, ranked #148 of 301 in MN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($588 loan paydown + $5k appreciation (6.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.
• Current owner paid $60k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.46% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.76%
• DSCR: 1.88
• GRM: 5.7

CMA / ARV

• ARV (median comp): $42,000
• List price: $85,000
• Delta: 102.38%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Grant St W	0.19mi	4/1.0	1,556 (+4%)	5mo	$42,000	$27	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 3.08×
• Total profit: $49,565
• Equity at exit: $53,486

10-year hold

• IRR: 29.7%
• Equity multiple: 6.31×
• Total profit: $126,280
• Equity at exit: $97,038

Cash invested: $23,800 (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 56121

• Home prices YoY: 2.4%
• Active inventory: 8
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,243 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $392

Break-even live

Break-even rent $747

Max offer price $85,000

Occupancy floor 63%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $85,000 Active 69 DOM
2. 2026-06-17
   days on market $85,000 Active 68 DOM
3. 2026-06-16
   days on market $85,000 Active 67 DOM
4. 2026-06-15
   days on market $85,000 Active 66 DOM
5. 2026-06-13
   days on market $85,000 Active 64 DOM
6. 2026-06-12
   days on market $85,000 Active 63 DOM
7. 2026-06-09
   days on market $85,000 Active 60 DOM
8. 2026-06-08
   days on market $85,000 Active 59 DOM
9. 2026-06-07
   days on market $85,000 Active 58 DOM
10. 2026-06-05
    days on market $85,000 Active 56 DOM
11. 2026-06-04
    days on market $85,000 Active 54 DOM
12. 2026-06-02
    days on market $85,000 Active 53 DOM
13. 2026-06-01
    days on market $85,000 Active 52 DOM
14. 2026-05-31
    days on market $85,000 Active 51 DOM
15. 2026-05-31
    days on market $85,000 Active 50 DOM
16. 2026-04-10
    listed $85,000 Active 436-char remark

    Show marketing remark (436 chars)

    This home will be a beautiful home with a little more TLC!! This 4 bedroom 2 bath home has large living room and dining room area. Kitchen has island and larger window. 2 bedrooms and full bath on the main floor. With two more bedrooms and 3/4 bath upstairs. Hardwood floors just need to be finished. Most of the windows in the home are newer, metal roof. New boiler system in basement just a couple years ago. Larger corner lot.

17. 2021-09-07
    soldstatus $59,500
18. 2021-08-11
    historical
19. 2021-06-22
    price $77,000
20. 2021-05-06
    listed $82,500 Active
21. 2021-05-05
    soldstatus $31,500 Sold
22. 2021-01-31
    status Pending
23. 2021-01-28
    status Pending
24. 2020-12-21
    listed $33,900 Active
25. 2008-04-03
    soldstatus $38,500
26. 2008-04-02
    soldstatus $38,500
27. 2007-11-27
    listed $45,000

ⓘ 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: $1,312 · $109/mo
• Projected year-2 tax: $1,312 · $109/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 5/10 Major 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,921
• − Mortgage interest: −$4,761
• − Property taxes: −$1,312
• − Insurance: −$425
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$2,473
• Taxable income: $3,563
• Est. tax owed @ 24.0%: −$855
• After-tax cash flow: $3,847/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: Fairmont Area School District
• NCES district ID: 2700124
• Math proficiency: 45% ▼ -13.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $46,280
• Composite: 40.76/100
• National rank: #3648
• State rank: #148 of 301 in MN

Livability — Ceylon

• Score: 55/100
• State rank: #863
• US rank: #23698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ceylon, MN
• Population (ZIP): 579

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Native American 4%
• Common ancestry: Portuguese 12% Italian 3% Scottish 2%
• Foreign-born: 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.01%
• Current HPI: 255.4116
• 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

+88.9% since first listed

12 events — show timeline

• 2026-04-10 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-07 Sold (Public Records) $59,500 Public Records
• 2021-08-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-22 Price Changed $77,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-06 Listed $82,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-05 Sold (MLS) $31,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-21 Listed $33,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-03 Sold (Public Records) $38,500 Public Records
• 2008-04-02 Sold (MLS) $38,500 NORTHSTARMLS as Distributed by MLS Grid
• 2007-11-27 Listed $45,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $1,312 · +14.9% YoY. Source: county tax records.