113 1st St SW · Fairfax, MN 55332

$79,900

2 bd · 1.0 ba · 763 sqft · SingleFamily public records · 171 Days on market

Built 1905 8,363 sqft 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 +23.4/30.0
• Appreciation +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great investment home, or first home. This fully furnished home has 2-3 bedrooms, spacious full bath, updated kitchen. Central Air. This home sits on a large lot with so much potential to add on or add a patio and or a garage. Call today to schedule a showing, before this one gets away!!

Key facts

• 8,363 sq ft lot
• Built 1905
• Listed 170 days

Property features AI

Exterior

• Parking: On-street parking only
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One and one-half story; Entry level: main
• Construction: Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Vinyl exterior; Irregular lot with approximately 50 x 140 dimensions; City street frontage

Interior

• Kitchen: Range; Microwave; Refrigerator; Eat-in layout
• Bedrooms: 2 bedrooms (one on main level, one on upper level); Upper-level bonus room
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Washer and dryer; Washer/Dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($811 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#261 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute 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: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Renville County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Renville County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $30k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $80k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 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 1905 — 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: 1.02% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 3.36×
• Total profit: $52,858
• Equity at exit: $71,980

10-year hold

• IRR: 26.0%
• Equity multiple: 7.63×
• Total profit: $148,246
• Equity at exit: $155,228

Cash invested: $22,372 (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 55332

• Home prices YoY: 5.2%
• Active inventory: 13
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $811 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$41 /mo · $496/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $147

Break-even live

Break-even rent $625

Max offer price $79,900

Occupancy floor 77%

Sensitivity live

Price	-10% $192	-5% $170	+0% $147	+5% $124	+10% $102
Rent	-10% $83	-5% $115	+0% $147	+5% $179	+10% $211
Rate	-1.0pp $187	-0.5pp $167	base $147	+0.5pp $126	+1.0pp $105

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Park St N Fairfax, MN	2.0	1.0	700	$811	$1.16	45d	1	0.18mi

Listing history 30 events

1. 2026-06-21
   days on market $79,900 Active 171 DOM
2. 2026-06-21
   days on market $79,900 Active 170 DOM
3. 2026-06-18
   days on market $79,900 Active 168 DOM
4. 2026-06-17
   days on market $79,900 Active 167 DOM
5. 2026-06-16
   days on market $79,900 Active 166 DOM
6. 2026-06-15
   days on market $79,900 Active 165 DOM
7. 2026-06-13
   days on market $79,900 Active 163 DOM
8. 2026-06-12
   days on market $79,900 Active 162 DOM
9. 2026-06-09
   days on market $79,900 Active 159 DOM
10. 2026-06-08
    days on market $79,900 Active 158 DOM
11. 2026-06-07
    days on market $79,900 Active 157 DOM
12. 2026-06-07
    pricedays on market $79,900 Active 156 DOM
13. 2026-06-04
    days on market $84,900 Active 153 DOM
14. 2026-06-02
    days on market $84,900 Active 152 DOM
15. 2026-06-01
    days on market $84,900 Active 151 DOM
16. 2026-05-31
    days on market $84,900 Active 150 DOM
17. 2026-05-31
    days on market $84,900 Active 149 DOM
18. 2026-05-14
    price $84,900
19. 2026-04-29
    status Active
20. 2026-04-27
    historical Contingent - Inspection
21. 2026-03-31
    price $89,900
22. 2026-02-23
    price $94,900
23. 2026-02-06
    price $102,900
24. 2026-01-02
    listed $109,900 Active
25. 2025-12-23
    historical $109,900
26. 2022-11-18
    soldstatus $37,000 Sold 292-char remark

    Show marketing remark (292 chars)

    Great investment home, or first home. This fully furnished home has 2-3 bedrooms, spacious full bath, updated kitchen. Central Air. This home sits on a large lot with so much potential to add on or add a patio and or a garage. Call today to schedule a showing, before this one gets away!!

27. 2022-11-18
    soldstatus $37,000

    Show marketing remark (292 chars)

    Great investment home, or first home. This fully furnished home has 2-3 bedrooms, spacious full bath, updated kitchen. Central Air. This home sits on a large lot with so much potential to add on or add a patio and or a garage. Call today to schedule a showing, before this one gets away!!

28. 2022-10-05
    status Pending 292-char remark

    Show marketing remark (292 chars)

    Great investment home, or first home. This fully furnished home has 2-3 bedrooms, spacious full bath, updated kitchen. Central Air. This home sits on a large lot with so much potential to add on or add a patio and or a garage. Call today to schedule a showing, before this one gets away!!

29. 2022-09-27
    listed $34,900 Active 292-char remark

    Show marketing remark (292 chars)

    Great investment home, or first home. This fully furnished home has 2-3 bedrooms, spacious full bath, updated kitchen. Central Air. This home sits on a large lot with so much potential to add on or add a patio and or a garage. Call today to schedule a showing, before this one gets away!!

30. 2008-09-26
    listed $19,900

ⓘ 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: $496 · $41/mo
• Projected year-2 tax: $695 · $58/mo
• Expected delta: +$199/yr (+$17/mo · 40.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $9,732
• − Mortgage interest: −$4,476
• − Property taxes: −$496
• − Insurance: −$400
• − Repairs & maintenance: −$779
• − Management: −$779
• − Depreciation: −$2,324
• Taxable income: $479
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $1,650/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 — Fairfax

• Score: 73/100
• State rank: #261
• US rank: #5692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfax, MN
• Population (ZIP): 1,714

Population outlook (Renville County) Hauer SSP2

• Today (2025): 13,251 people
• By 2030: 12,443 · -6.1%
• By 2040: 10,946 · -17.4%
• By 2050: 9,598 · -27.6%
• By 2075: 7,411 · -44.1%
• By 2100: 5,768 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 17% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 15% Cuban 2%
• Common ancestry: Portuguese 12% Italian 4% Scottish 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Renville

• 2024 margin: Solid R (+41.4) · D 28.4% · R 69.8% · Other 1.9%
• 2008→2024 swing: -40.8pp toward R · 2008: -0.6pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+36.5 2016: R+36.7 2012: R+9.8 2008: R+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.54%
• Current HPI: 252.2828
• 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

+326.6% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-06 Price Changed $102,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-02 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-23 Coming Soon $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-18 Sold (Public Records) $37,000 Public Records
• 2022-11-18 Sold (MLS) $37,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-27 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-26 Listed $19,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2026): $496 · +7.4% YoY. Source: county tax records.