1125 Warren St · Mankato, MN 56001

$194,900

3 bd · 2.0 ba · 2,096 sqft · SingleFamily public records · 27 Days on market

Built 1881 9,148 sqft lot $93/sqft · 25% below area Est $258k · 25% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1125 Warren Street. This 1880s charmer has over 2000 finished square feet - so come on in and spread out. Main floor has living room, kitchen open to dining space, den, large bedroom or office area, full bathroom, and laundry area. Basement has sump pump and two large rooms with for storage along with original log beams you don't see everyday. . Head upstairs to find two large bedrooms, one with a large walk in closet and a hallway 3/4 bathroom. New carpet throughout the home, updated main level bathroom, new furnace & water heater 2026, AC 2020, roof 2011 and circuit beakers so all the big ticket items area completed. Detached oversized single stall garage, and concrete patio out back for enjoying the seasons outside. Licensed as a single family rental (no more than 2 unrelated occupants) as well. Affordable and move in ready, but with a little elbow grease, you could personalize this one to really shine. Just block from Highland Park or the YMCA skate park, and multiple dining options. Move on in, or add this one to your rental portfolio today.

Key facts

• 9,148 sq ft lot
• Garage
• Built 1881

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $734 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 352 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• At $2,608/mo this rent would consume 45% of the median local household income ($70k/yr) (locally 2394% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $108k; list at $195k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,976 (1.5% below list)

Questions for the listing agent

1. Built in 1881 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.34% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.14%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $258,147
• List price: $194,900
• Delta: -24.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Ellis Ave	0.19mi	3/2.0	2,067 (-1%)	14mo	$244,000	$118	77
310 Dillon Ave	0.20mi	3/2.0	2,229 (+6%)	14mo	$272,000	$122	68
219 James Ave	0.62mi	4/2.0 (+1)	2,067 (-1%)	2mo	$300,000	$145	62
203 S Division St	0.58mi	3/2.0	2,322 (+11%)	0mo	$334,700	$144	55
202 E Lewis St	0.64mi	3/2.0	1,910 (-9%)	5mo	$210,500	$110	51
110 Heron Dr	0.56mi	4/2.0 (+1)	2,042 (-3%)	19mo	$299,900	$147	49
132 Coy St	0.45mi	2/1.0 (-1)	1,852 (-12%)	8mo	$276,000	$149	44
10 Roblen Ct	0.61mi	4/2.0 (+1)	2,172 (+4%)	23mo	$305,500	$141	41
312 E Liberty St	0.71mi	3/1.5	1,884 (-10%)	9mo	$282,500	$150	40
216 Branson St	0.60mi	3/1.5	1,960 (-6%)	23mo	$260,000	$133	40
215 James Ave	0.62mi	4/2.0 (+1)	1,820 (-13%)	8mo	$280,000	$154	37
118 Martin Cir	0.61mi	3/1.0	1,876 (-10%)	22mo	$251,000	$134	32

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.53×
• Total profit: $28,962
• Equity at exit: $29,060

10-year hold

• IRR: 25.1%
• Equity multiple: 3.72×
• Total profit: $148,227
• Equity at exit: $16,851

Cash invested: $54,572 (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 56001

• Rents YoY: 8.6%
• Active inventory: 352
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,608 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $734

Break-even live

Break-even rent $1,679

Max offer price $194,900

Occupancy floor 67%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1050 Marsh St Unit 326 Van Tol Mankato, MN	3.0	2.0	1461	$2,360	$1.62	43d	1	1.05mi
201 N Riverfront Dr Apt 501 Mankato, MN	2.0	2.0	2045	$3,725	$1.82	43d	1	1.10mi
412 Wall St Unit 412 North Mankato, MN	4.0	2.5	2600	$2,300	$0.88	43d	1	1.37mi

Listing history 13 events

1. 2026-05-12
   historical Active Under Contract 1080-char remark

   Show marketing remark (1080 chars)

   Welcome to 1125 Warren Street. This 1880s charmer has over 2000 finished square feet - so come on in and spread out. Main floor has living room, kitchen open to dining space, den, large bedroom or office area, full bathroom, and laundry area. Basement has sump pump and two large rooms with for storage along with original log beams you don't see everyday. . Head upstairs to find two large bedrooms, one with a large walk in closet and a hallway 3/4 bathroom. New carpet throughout the home, updated main level bathroom, new furnace & water heater 2026, AC 2020, roof 2011 and circuit beakers so all the big ticket items area completed. Detached oversized single stall garage, and concrete patio out back for enjoying the seasons outside. Licensed as a single family rental (no more than 2 unrelated occupants) as well. Affordable and move in ready, but with a little elbow grease, you could personalize this one to really shine. Just block from Highland Park or the YMCA skate park, and multiple dining options. Move on in, or add this one to your rental portfolio today.

2. 2026-04-24
   listed $194,900 Active 1080-char remark

   Show marketing remark (1080 chars)

   Welcome to 1125 Warren Street. This 1880s charmer has over 2000 finished square feet - so come on in and spread out. Main floor has living room, kitchen open to dining space, den, large bedroom or office area, full bathroom, and laundry area. Basement has sump pump and two large rooms with for storage along with original log beams you don't see everyday. . Head upstairs to find two large bedrooms, one with a large walk in closet and a hallway 3/4 bathroom. New carpet throughout the home, updated main level bathroom, new furnace & water heater 2026, AC 2020, roof 2011 and circuit beakers so all the big ticket items area completed. Detached oversized single stall garage, and concrete patio out back for enjoying the seasons outside. Licensed as a single family rental (no more than 2 unrelated occupants) as well. Affordable and move in ready, but with a little elbow grease, you could personalize this one to really shine. Just block from Highland Park or the YMCA skate park, and multiple dining options. Move on in, or add this one to your rental portfolio today.

3. 2026-04-23
   historical $194,900 1080-char remark

   Show marketing remark (1080 chars)

   Welcome to 1125 Warren Street. This 1880s charmer has over 2000 finished square feet - so come on in and spread out. Main floor has living room, kitchen open to dining space, den, large bedroom or office area, full bathroom, and laundry area. Basement has sump pump and two large rooms with for storage along with original log beams you don't see everyday. . Head upstairs to find two large bedrooms, one with a large walk in closet and a hallway 3/4 bathroom. New carpet throughout the home, updated main level bathroom, new furnace & water heater 2026, AC 2020, roof 2011 and circuit beakers so all the big ticket items area completed. Detached oversized single stall garage, and concrete patio out back for enjoying the seasons outside. Licensed as a single family rental (no more than 2 unrelated occupants) as well. Affordable and move in ready, but with a little elbow grease, you could personalize this one to really shine. Just block from Highland Park or the YMCA skate park, and multiple dining options. Move on in, or add this one to your rental portfolio today.

4. 2017-09-01
   soldstatus $108,500
5. 2015-04-06
   soldstatus $108,500
6. 2013-06-05
   soldstatus $108,500
7. 2012-02-06
   listed $124,700
8. 2012-02-06
   listed $124,700
9. 2010-03-08
   historical
10. 2009-06-03
    listed $120,000
11. 2009-06-03
    listed $125,000
12. 2001-11-06
    soldstatus $97,400
13. 1993-04-29
    soldstatus $50,000

ⓘ 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: $2,674 · $223/mo
• Projected year-2 tax: $2,674 · $223/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 · 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,290
• − Mortgage interest: −$10,917
• − Property taxes: −$2,674
• − Insurance: −$974
• − Repairs & maintenance: −$2,503
• − Management: −$2,503
• − Depreciation: −$5,670
• Taxable income: $6,048
• Est. tax owed @ 24.0%: −$1,452
• After-tax cash flow: $7,354/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, MN
• 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

+289.8% since first listed

13 events — show timeline

• 2026-05-12 Contingent — RASM
• 2026-04-24 Listed $194,900 RASM
• 2026-04-23 Coming Soon $194,900 RASM
• 2017-09-01 Sold (Public Records) $108,500 Public Records
• 2015-04-06 Sold (Public Records) $108,500 Public Records
• 2013-06-05 Sold (Public Records) $108,500 Public Records
• 2012-02-06 Listed $124,700 NORTHSTARMLS as Distributed by MLS Grid
• 2012-02-06 Listed $124,700 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-03 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-03 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2001-11-06 Sold (Public Records) $97,400 Public Records
• 1993-04-29 Sold (Public Records) $50,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,674 · +19.0% YoY. Source: county tax records.