310 Locust St · Lyle, MN 55953

$119,900

3 bd · 1.0 ba · 1,348 sqft · Other public records · 8 Days on market

Built 1969 10,802 sqft lot

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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 +18.3/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

MOVE IN CONDITION 3 BEDROOM HOME IN LYLE..Check this clean home out, attached garage and large lot make this home appealing come take a look.

Key facts

• Large kitchen area
• Tiled bath
• Updated roof

Tags

• UPDATED ROOF
• UPDATED HVAC
• VINYL SIDING
• UPDATED HARDWOOD FLOORING
• TILED BATH
• LARGE KITCHEN AREA

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential property; One and one-half stories; Main living on main level
• Construction: Block foundation; Asphalt roof (installed within last 8 years)
• Exterior features: Vinyl siding; Wood fencing; Corner lot; City street frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms (two on main level, one upper-level bedroom)
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Basement with block foundation
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/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 $116k (3.0% below list).
• Recommended offer: $116k (3.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#713 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, crime D.
• Lyle Public School District (rural): math 25% / reading 40% proficiency, ranked #383 of 467 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($829 loan paydown + $5k appreciation (4.3% local appreciation)).
• At projected returns (4.3% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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 $50k; list at $120k implies a 140% gain — meaningful room to come down on a strong offer.

Recommended offer $116,321 (3.0% below list)

Questions for the listing agent

1. Built in 1969 — 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. 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: 0.97% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.90×
• Total profit: $30,173
• Equity at exit: $63,262

10-year hold

• IRR: 15.6%
• Equity multiple: 3.61×
• Total profit: $87,497
• Equity at exit: $105,492

Cash invested: $33,572 (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 55953

• Home prices YoY: 1.5%
• Active inventory: 6
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$131 /mo · $1,576/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $109

Break-even live

Break-even rent $1,025

Max offer price $119,900

Occupancy floor 86%

Sensitivity live

Price	-10% $177	-5% $143	+0% $109	+5% $75	+10% $41
Rent	-10% $17	-5% $63	+0% $109	+5% $155	+10% $201
Rate	-1.0pp $169	-0.5pp $139	base $109	+0.5pp $78	+1.0pp $46

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-05
   status Pending
2. 2026-04-29
   historical Contingent - Inspection
3. 2026-04-27
   listed $119,900 Active
4. 2019-08-20
   soldstatus $50,000
5. 2018-12-09
   historical 141-char remark

   Show marketing remark (141 chars)

   MOVE IN CONDITION 3 BEDROOM HOME IN LYLE..Check this clean home out, attached garage and large lot make this home appealing come take a look.

6. 2015-02-03
   soldstatus $50,000
7. 2015-02-03
   soldstatus $50,000
8. 2015-01-14
   soldstatus $50,000 141-char remark

   Show marketing remark (142 chars)

   MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

9. 2015-01-14
   soldstatus $50,000 142-char remark

   Show marketing remark (142 chars)

   MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

10. 2015-01-14
    soldstatus $50,000

    Show marketing remark (142 chars)

    MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

11. 2015-01-14
    soldstatus $50,000 Sold

    Show marketing remark (142 chars)

    MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

12. 2014-12-24
    status Pending
13. 2014-11-14
    listed $51,900 Active
14. 2014-11-11
    listed $51,900 141-char remark

    Show marketing remark (142 chars)

    MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

15. 2014-11-11
    listed $51,900 142-char remark

    Show marketing remark (142 chars)

    MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

16. 2014-11-11
    listed $51,900

    Show marketing remark (142 chars)

    MOVE IN CONDITION 3 BEDROOM HOME IN LYLE. .Check this clean home out, attached garage and large lot make this home appealing come take a look.

ⓘ 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: $1,576 · $131/mo
• Projected year-2 tax: $1,576 · $131/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 1/10 Low 7 d/yr ≥98°F today · 16 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: $13,959
• − Mortgage interest: −$6,716
• − Property taxes: −$1,576
• − Insurance: −$600
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$3,488
• Taxable loss: −$655
• Est. tax savings @ 24.0%: +$157
• After-tax cash flow: $1,464/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: Lyle Public School District
• NCES district ID: 2718360
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,802
• Composite: 30.96/100
• National rank: #11330
• State rank: #383 of 467 in MN

Livability — Lyle

• Score: 62/100
• State rank: #713
• US rank: #17174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lyle, MN
• Population (ZIP): 918

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Portuguese 28% Scottish 4% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.35%
• Current HPI: 292.6824
• 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

+131.0% since first listed

16 events — show timeline

• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-20 Sold (Public Records) $50,000 Public Records
• 2018-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-03 Sold (Public Records) $50,000 Public Records
• 2015-02-03 Sold (Public Records) $50,000 Public Records
• 2015-01-14 Sold (MLS) $50,000 LSAR
• 2015-01-14 Sold (MLS) $50,000 RASM
• 2015-01-14 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-01-14 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-12-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-14 Listed $51,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-11 Listed $51,900 LSAR
• 2014-11-11 Listed $51,900 RASM
• 2014-11-11 Listed $51,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2025): $1,576 · -1.5% YoY. Source: county tax records.