302 13th St S · Benson, MN 56215

$150,000

5 bd · 3.0 ba · 2,304 sqft · SingleFamily · 159 Days on market

Built 1886 0.26 ac lot ↓ 21% since listing

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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
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

5 Bed 3 Bath Home with unlimited possibilities and tons of closet space. Check out the size of these rooms!! House was built in the late 1800's and has the character to go along with it. From the wrap around porch to the double staircase leading upstairs. This property is in the perfect location within walking distance to banks, restaurants and shopping, as well as the school bus stop. The double garage also serves as the center for a catering business, complete with a commercial kitchen and bathroom (Frier hood has been removed) . Heated, insulated and air conditioned. Available for showings staring Dec 22, 2025

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1886

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#189 in MN, #4,068 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Benson Public School District (town): math 37% / reading 41% proficiency, ranked #228 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northside Elementary (math 52% / reading 52%, grade C-, #368 of 857 statewide, top 47%, 406 students, 54% FRL); Benson Secondary (math 30% / reading 35%, grade F, #332 of 471 statewide, top 70%, 353 students, 45% FRL) — zoned schools average 50% FRL vs 25% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 15 units permitted in Swift County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — 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. 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: 1.00% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.3

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-12,112
• Equity at exit: $22,365

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $5,152
• Equity at exit: $12,969

Cash invested: $42,000 (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 56215

• Home prices YoY: -18.0%
• Active inventory: 32
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,506 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $191

Break-even live

Break-even rent $1,264

Max offer price $150,000

Occupancy floor 82%

Sensitivity live

Price	-10% $276	-5% $234	+0% $191	+5% $149	+10% $107
Rent	-10% $72	-5% $132	+0% $191	+5% $251	+10% $310
Rate	-1.0pp $267	-0.5pp $230	base $191	+0.5pp $153	+1.0pp $113

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-04
   price $150,000 626-char remark

   Show marketing remark (626 chars)

   5 Bed 3 Bath Home with unlimited possibilities and tons of closet space. Check out the size of these rooms!! House was built in the late 1800's and has the character to go along with it. From the wrap around porch to the double staircase leading upstairs. This property is in the perfect location within walking distance to banks, restaurants and shopping, as well as the school bus stop. The double garage also serves as the center for a catering business, complete with a commercial kitchen and bathroom (Frier hood has been removed) . Heated, insulated and air conditioned. Available for showings staring Dec 22, 2025

2. 2026-02-19
   price $175,000 626-char remark

   Show marketing remark (626 chars)

   5 Bed 3 Bath Home with unlimited possibilities and tons of closet space. Check out the size of these rooms!! House was built in the late 1800's and has the character to go along with it. From the wrap around porch to the double staircase leading upstairs. This property is in the perfect location within walking distance to banks, restaurants and shopping, as well as the school bus stop. The double garage also serves as the center for a catering business, complete with a commercial kitchen and bathroom (Frier hood has been removed) . Heated, insulated and air conditioned. Available for showings staring Dec 22, 2025

3. 2025-12-22
   listed $189,500 Active 626-char remark

   Show marketing remark (626 chars)

   5 Bed 3 Bath Home with unlimited possibilities and tons of closet space. Check out the size of these rooms!! House was built in the late 1800's and has the character to go along with it. From the wrap around porch to the double staircase leading upstairs. This property is in the perfect location within walking distance to banks, restaurants and shopping, as well as the school bus stop. The double garage also serves as the center for a catering business, complete with a commercial kitchen and bathroom (Frier hood has been removed) . Heated, insulated and air conditioned. Available for showings staring Dec 22, 2025

4. 2025-12-05
   historical $189,500 626-char remark

   Show marketing remark (626 chars)

   5 Bed 3 Bath Home with unlimited possibilities and tons of closet space. Check out the size of these rooms!! House was built in the late 1800's and has the character to go along with it. From the wrap around porch to the double staircase leading upstairs. This property is in the perfect location within walking distance to banks, restaurants and shopping, as well as the school bus stop. The double garage also serves as the center for a catering business, complete with a commercial kitchen and bathroom (Frier hood has been removed) . Heated, insulated and air conditioned. Available for showings staring Dec 22, 2025

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,072
• − Mortgage interest: −$8,402
• − Property taxes: −$1,790
• − Insurance: −$750
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − Depreciation: −$4,364
• Taxable loss: −$125
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $2,328/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: Benson Public School District
• NCES district ID: 2704470
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 41% ▼ -9.00%
• Median HH income: $49,024
• Composite: 33.56/100
• National rank: #5423
• State rank: #228 of 301 in MN

Livability — Benson

• Score: 75/100
• State rank: #189
• US rank: #4068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benson, MN
• Population (ZIP): 4,701

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 28% Italian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.08%
• Current HPI: 214.9157
• 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

-20.8% since first listed

4 events — show timeline

• 2026-04-04 Price Changed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-22 Listed $189,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-05 Coming Soon $189,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $1,790 · -0.3% YoY. Source: county tax records.