308 17th St NW · Willmar, MN 56201

$145,000

3 bd · 1.0 ba · 1,134 sqft · SingleFamily · 5 Days on market

Built 1958 10,672 sqft 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 +15.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.1/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for one-level living in Willmar! Whether you are looking for a cute place to make your own or an easy investment opportunity, this is the place for you! Part of the former Air Force housing in Willmar, this mid-century home is a piece of local history waiting for its next chapter. Call today to take a look!

Key facts

• 0.24 acre lot
• Garage
• Built 1958

Property features AI

Finance

• Other: Above-grade finished living area approximately 1,134 square feet
• Financial info: Free and clear mortgage status

Exterior

• Parking: Attached garage; 1-car garage (approx. 21 x 13)
• Utilities: City water connected; City sewer connected; Electric service with circuit breakers and fuses (Willmar Utilities); Natural gas
• Home design: Residential single-story home; One level living; Slab foundation
• Construction: Asphalt roof (over 8 years old)
• Exterior features: Wood exterior; No pool; No fencing; City street frontage (public maintained road); Lot roughly 0.245 acres (approx. dimensions 136 x 78)

Interior

• Kitchen: Kitchen with eat-in area (17 x 7); Range; Refrigerator; Pantry (walk-in, 9 x 5.5)
• Bedrooms: 3 bedrooms on one level (all on main floor); Bedroom sizes: 12.5 x 9; 12 x 9; 11 x 9
• Bathrooms: Main-floor full bathroom (9 x 4.5)
• Heating & cooling: Forced air heating; Whole house fan
• Interior features: Water softener (owned); Eat-in kitchen; Main-floor primary and bedrooms; No basement
• Laundry & utility: Washer hookup (in kitchen, main level); Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $60 ($723/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (9.4% below list).
• Recommended offer: $131k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.2% in Willmar — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#233 in MN, #4,984 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Willmar Public School District (town): math 34% / reading 38% proficiency, ranked #246 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kennedy Elementary (math 33% / reading 31%, grade F, #670 of 857 statewide, top 79%, 715 students, 75% FRL); Willmar Middle School (math 37% / reading 40%, grade F, #156 of 258 statewide, top 62%, 874 students, 69% FRL); Willmar Senior High (math 36% / reading 51%, grade F, #211 of 471 statewide, top 45%, 1,224 students, 63% FRL) — zoned schools average 69% FRL vs 50% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 159 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Kandiyohi County in 2024 (118 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,335 (9.4% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.91% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• GRM: 9.2

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: -13.5%
• Equity multiple: 0.52×
• Total profit: $-19,655
• Equity at exit: $21,620

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-12,157
• Equity at exit: $12,537

Cash invested: $40,600 (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 56201

• Active inventory: 159
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,313 high
• Mortgage (P&I): −$760
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $60

Break-even live

Break-even rent $1,237

Max offer price $145,000

Occupancy floor 90%

Sensitivity live

Price	-10% $142	-5% $101	+0% $60	+5% $19	+10% $-22
Rent	-10% $-44	-5% $8	+0% $60	+5% $112	+10% $164
Rate	-1.0pp $133	-0.5pp $97	base $60	+0.5pp $23	+1.0pp $-16

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 30th St NW Willmar, MN	1.0–2.0	1.0	725	$960	$1.32	45d	1	0.92mi
1001 30th St NW Willmar, MN	1.0–2.0	1.0	796	$1,395	$1.75	45d	1	1.21mi
1011 30th St NW Willmar, MN	2.0	1.0–2.0	945	$1,400	$1.48	45d	1	1.22mi
2601 15th Ave NW Willmar, MN	1.0–3.0	1.0–2.0	723	$1,295	$1.79	45d	8	1.29mi
1021 30th St NW Unit 201 Willmar, MN	3.0	2.0	1224	$1,695	$1.38	45d	1	1.32mi
1021 30th St NW Unit 209 Willmar, MN	2.0	2.0	945	$1,450	$1.53	45d	1	1.32mi
1116 2nd St SE Unit 7 Willmar, MN	2.0	1.0	950	$1,099	$1.16	45d	1	1.43mi
405 15th Ave SW Willmar, MN	2.0	1.0	669	$1,115	$1.67	45d	1	1.48mi

Listing history 5 events

1. 2026-06-22
   days on market $145,000 Active 5 DOM
2. 2026-06-21
   days on market $145,000 Active 4 DOM
3. 2026-06-21
   days on market $145,000 Active 3 DOM
4. 2026-06-18
   remarks 329-char remark
5. 2026-06-18
   listed $145,000 Active 1 DOM

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $1,878 · $156/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 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: $15,760
• − Mortgage interest: −$8,122
• − Property taxes: −$1,878
• − Insurance: −$725
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$4,218
• Taxable loss: −$1,705
• Est. tax savings @ 24.0%: +$409
• After-tax cash flow: $1,132/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: Willmar Public School District
• NCES district ID: 2742720
• Math proficiency: 34% ▼ -14.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $46,727
• Composite: 30.85/100
• National rank: #6128
• State rank: #246 of 301 in MN

Livability — Willmar

• Score: 73/100
• State rank: #233
• US rank: #4984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willmar, MN
• City population: 24,860
• Population (ZIP): 24,860

Population outlook (Kandiyohi County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 42,825 · -0.3%
• By 2040: 42,343 · -1.4%
• By 2050: 42,124 · -1.9%
• By 2075: 43,726 · +1.8%
• By 2100: 45,974 · +7.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 22% Black 10% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 15% Iranian 3% Scottish 2%
• Foreign-born: 15% · Canada, Philippines
• Languages at home: 78% English-only · Spanish 14% Other Asian/Pacific 2%

Political lean MEDSL · Kandiyohi

• 2024 margin: Solid R (+31.0) · D 33.7% · R 64.7% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -5.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+25.7 2016: R+25.5 2012: R+6.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.48%
• Current HPI: 161.1663
• 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

• 2026-06-17 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.9%/yr

Latest (2025): $1,878 · +6.1% YoY. Source: county tax records.