351 Main St · Kenneth, MN 56147

$75,000

1 bd · 1.0 ba · 640 sqft · SingleFamily · 99 Days on market

Built 1900 Good condition 6,969 sqft lot $117/sqft · 11% above area Est $68k · 11% over

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Why this score? — see what drove the C- 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 +20.3/30.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0

Listing remarks MLS

Experience a piece of local history with this fully furnished turn-key ready, one-level studio cabin. Formerly the town’s original post office, this unique property has been thoughtfully converted into a high-performing Airbnb and is ready for its next owner. Property Highlights - Historic Charm: Own a conversation piece—this space served as the historic town post office. - Turnkey Ready: Sold fully furnished; move in or start hosting immediately. - Versatile Income: Perfect for short-term vacation rentals or steady long-term leasing. - Low Maintenance: Single-level studio layout makes upkeep a breeze.

Key facts

• Fully furnished
• 6,969 sq ft lot
• Built 1900

Tags

• HISTORIC TOWN POST OFFICE
• FULLY FURNISHED
• SHORT-TERM VACATION RENTALS
• SINGLE-LEVEL STUDIO LAYOUT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($777 rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#788 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime C-, schools D-, amenities F.
• Luverne Public School District (rural): math 55% / reading 58% proficiency, ranked #64 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 1 active listings in the ZIP; 66 units permitted in Rock County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Rock County population projected to shrink 9% 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (median comp): $67,506
• List price: $75,000
• Delta: 11.10%
• 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
222 Central Ave Ave	0.06mi	2/1.0 (+1)	684 (+7%)	7mo	$70,000	$102	75

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

Projected returns pro-forma

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

5-year hold

• IRR: 12.6%
• Equity multiple: 1.72×
• Total profit: $15,154
• Equity at exit: $33,723

10-year hold

• IRR: 14.6%
• Equity multiple: 3.16×
• Total profit: $45,414
• Equity at exit: $51,972

Cash invested: $21,000 (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 56147

• Active inventory: 1
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $777 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $96

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 83%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $75,000 Active 99 DOM
2. 2026-06-17
   days on market $75,000 Active 98 DOM
3. 2026-06-16
   days on market $75,000 Active 97 DOM
4. 2026-06-15
   days on market $75,000 Active 96 DOM
5. 2026-06-13
   days on market $75,000 Active 94 DOM
6. 2026-06-12
   days on market $75,000 Active 93 DOM
7. 2026-06-09
   days on market $75,000 Active 90 DOM
8. 2026-06-08
   days on market $75,000 Active 89 DOM
9. 2026-06-07
   days on market $75,000 Active 88 DOM
10. 2026-06-07
    days on market $75,000 Active 87 DOM
11. 2026-06-04
    days on market $75,000 Active 84 DOM
12. 2026-06-02
    days on market $75,000 Active 83 DOM
13. 2026-06-01
    days on market $75,000 Active 82 DOM
14. 2026-05-31
    days on market $75,000 Active 81 DOM
15. 2026-05-31
    days on market $75,000 Active 80 DOM
16. 2026-03-11
    listed $75,000 Active 623-char remark

    Show marketing remark (623 chars)

    Experience a piece of local history with this fully furnished turn-key ready, one-level studio cabin. Formerly the town’s original post office, this unique property has been thoughtfully converted into a high-performing Airbnb and is ready for its next owner. Property Highlights - Historic Charm: Own a conversation piece—this space served as the historic town post office. - Turnkey Ready: Sold fully furnished; move in or start hosting immediately. - Versatile Income: Perfect for short-term vacation rentals or steady long-term leasing. - Low Maintenance: Single-level studio layout makes upkeep a breeze.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,330
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$746
• − Management: −$746
• − Depreciation: −$2,182
• Taxable loss: −$46
• Est. tax savings @ 24.0%: +$11
• After-tax cash flow: $1,162/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.

Condition & rehab AI · 5 photos

Good 75/100 Cosmetic rehab

This fully furnished, turn-key ready property is in good condition with minimal maintenance required. It offers a unique historical charm and is ready for its next owner.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Kitchen updates — Modernizing the kitchen can attract more renters and buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Kitchen updates — Modernizing the kitchen can attract more renters and buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Luverne Public School District
• NCES district ID: 2718330
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $48,225
• Composite: 48.0/100
• National rank: #2198
• State rank: #64 of 301 in MN

Livability — Kenneth

• Score: 59/100
• State rank: #788
• US rank: #19798

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenneth, MN
• Population (ZIP): 103

Population outlook (Rock County) Hauer SSP2

• Today (2025): 9,476 people
• By 2030: 9,326 · -1.6%
• By 2040: 9,006 · -5.0%
• By 2050: 8,662 · -8.6%
• By 2075: 7,973 · -15.9%
• By 2100: 7,033 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Native American 26%
• Common ancestry: Iranian 23% Portuguese 16% Scottish 2%

Political lean MEDSL · Rock

• 2024 margin: Solid R (+39.3) · D 29.6% · R 68.8% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -14.0pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+38.7 2016: R+35.7 2012: R+17.9 2008: R+14.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-03-11 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid