202 W 1st St · Blue Earth, MN 56013

$109,900

3 bd · 1.0 ba · 1,629 sqft · SingleFamily public records · 39 Days on market

Built 1900 8,712 sqft lot Est $122k · 10% under

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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 +25.5/30.0
• ARV discount +12.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +5.9/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: 2-car garage; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Basement (full, partially finished)
• Exterior features: Asphalt roof; Corner lot

Interior

• Kitchen: Dishwasher; Cooktop; Range; Refrigerator; Kitchen island; Breakfast bar
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Kitchen island; Breakfast bar; Window coverings; Partially finished full basement with sump pump
• Laundry & utility: Washer; Dryer; Electric water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#259 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Blue Earth Area Public School (town): math 29% / reading 44% proficiency, ranked #245 of 301 in MN (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Faribault County population projected at -11% 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $122,175
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 N Linton St	0.14mi	3/3.0	1,553 (-5%)	21mo	$125,000	$80	60
304 W 6th St	0.36mi	3/1.0	1,712 (+5%)	20mo	$70,000	$41	58
729 E 3rd St	0.60mi	3/1.5	1,736 (+7%)	2mo	$130,000	$75	58
803 E 6th St	0.70mi	3/1.5	1,548 (-5%)	4mo	$74,900	$48	53
306 E 7th St	0.53mi	3/2.0	1,580 (-3%)	17mo	$215,000	$136	52
309 N Nicollet St	0.21mi	3/3.0	1,781 (+9%)	22mo	$121,000	$68	48
115 E 10th St	0.66mi	3/2.0	1,736 (+7%)	20mo	$220,000	$127	38

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

Projected returns pro-forma

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

5-year hold

• IRR: 31.6%
• Equity multiple: 3.47×
• Total profit: $76,130
• Equity at exit: $99,007

10-year hold

• IRR: 27.3%
• Equity multiple: 7.87×
• Total profit: $211,328
• Equity at exit: $213,512

Cash invested: $30,772 (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 56013

• Home prices YoY: 6.7%
• Active inventory: 36
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,201 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $256

Break-even live

Break-even rent $878

Max offer price $109,900

Occupancy floor 74%

Sensitivity live

Price	-10% $318	-5% $287	+0% $256	+5% $225	+10% $194
Rent	-10% $161	-5% $208	+0% $256	+5% $303	+10% $351
Rate	-1.0pp $311	-0.5pp $284	base $256	+0.5pp $227	+1.0pp $198

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-12
   statusdays on market $109,900 Pending 39 DOM
2. 2026-06-09
   days on market $109,900 Active Under Contract 38 DOM
3. 2026-06-08
   days on market $109,900 Active Under Contract 37 DOM
4. 2026-06-07
   days on market $109,900 Active Under Contract 36 DOM
5. 2026-06-05
   days on market $109,900 Active Under Contract 34 DOM
6. 2026-06-04
   days on market $109,900 Active Under Contract 32 DOM
7. 2026-06-02
   days on market $109,900 Active Under Contract 31 DOM
8. 2026-06-01
   days on market $109,900 Active Under Contract 30 DOM
9. 2026-05-31
   days on market $109,900 Active Under Contract 29 DOM
10. 2026-05-31
    days on market $109,900 Active Under Contract 28 DOM
11. 2026-05-24
    historical Active Under Contract
12. 2026-05-18
    status Active
13. 2026-05-08
    historical Active Under Contract
14. 2026-05-01
    listed $109,900 Active

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $1,042 · $87/mo
• Expected delta: +$188/yr (+$16/mo · 22.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $14,418
• − Mortgage interest: −$6,156
• − Property taxes: −$854
• − Insurance: −$550
• − Repairs & maintenance: −$1,153
• − Management: −$1,153
• − Depreciation: −$3,197
• Taxable income: $1,354
• Est. tax owed @ 24.0%: −$325
• After-tax cash flow: $2,746/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: Blue Earth Area Public School
• NCES district ID: 2700130
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $44,434
• Composite: 31.0/100
• National rank: #6095
• State rank: #245 of 301 in MN

Livability — Blue Earth

• Score: 73/100
• State rank: #259
• US rank: #5617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Earth, MN
• Population (ZIP): 4,534

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 23% Scottish 5% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.36%
• Current HPI: 244.2912
• 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

4 events — show timeline

• 2026-05-24 Contingent — RASM
• 2026-05-18 Relisted — RASM
• 2026-05-08 Contingent — RASM
• 2026-05-01 Listed $109,900 RASM

Property tax history

+5.3%/yr

Latest (2025): $854 · -9.1% YoY. Source: county tax records.