310 2nd St S · Grove City, MN 56243

$59,900

1 bd · 1.0 ba · 604 sqft · SingleFamily · 1 Days on market

Built 1880 7,000 sqft lot

---

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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rent Buster!! Nice little 1 BR 1 BA home on a corner lot with maintenance free siding, newer garage on a corner lot! This is cheap living!!

Key facts

• 7,000 sq ft lot
• Garage
• Built 1880

Property features AI

Finance

• Financial info: Other annual assessment amount noted

Exterior

• Parking: Detached garage with 1 stall (garage approx. 22 x 18)
• Utilities: City water connected; City sewer connected; Natural gas service; Electrical service with circuit breakers
• Home design: Residential property; One story; Entry on main level
• Construction: Frame construction; Asphalt pitched roof (over 8 years old); Block foundation; Built area includes finished main level and lower level
• Exterior features: Porch; Vinyl exterior; Corner lot with medium tree coverage

Interior

• Kitchen: Kitchen on main level (approx. 8.8 x 13.2); Range; Refrigerator
• Bedrooms: One bedroom on the main level (approx. 9.7 x 7.8)
• Flooring: Vinyl exterior (no specific interior flooring details provided)
• Bathrooms: One full bathroom; Main-level 3/4 bathroom (approx. 7.8 x 6.3)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Main-level foyer; Main-level living room; Main-level pantry (walk-in); Main-level bathroom (3/4); Block basement
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($779 rent vs $60k).

Location & tenants

• Location reads 70/100 on livability (#327 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D, amenities F.
• A.C.G.C. Public School District (rural): math 36% / reading 47% proficiency, ranked #209 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 73 units permitted in Meeker County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Meeker County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1880 — 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. 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: 1.30% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.65%
• DSCR: 1.61
• GRM: 6.4

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $2,462
• Equity at exit: $8,931

10-year hold

• IRR: 13.3%
• Equity multiple: 2.07×
• Total profit: $17,863
• Equity at exit: $5,179

Cash invested: $16,772 (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 56243

• Home prices YoY: -11.2%
• Active inventory: 7
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $779 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $191

Break-even live

Break-even rent $537

Max offer price $59,900

Occupancy floor 71%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-12
   remarks 139-char remark
2. 2026-06-12
   listed $59,900 Pending 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: $1,026 · $86/mo
• Projected year-2 tax: $1,026 · $86/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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,347
• − Mortgage interest: −$3,355
• − Property taxes: −$1,026
• − Insurance: −$300
• − Repairs & maintenance: −$748
• − Management: −$748
• − Depreciation: −$1,743
• Taxable income: $1,428
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $1,946/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: A.C.G.C. Public School District
• NCES district ID: 2700106
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $54,013
• Composite: 36.08/100
• National rank: #4761
• State rank: #209 of 301 in MN

Livability — Grove City

• Score: 70/100
• State rank: #327
• US rank: #7402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, MN
• Population (ZIP): 1,968

Population outlook (Meeker County) Hauer SSP2

• Today (2025): 22,292 people
• By 2030: 21,631 · -3.0%
• By 2040: 20,070 · -10.0%
• By 2050: 18,413 · -17.4%
• By 2075: 15,145 · -32.1%
• By 2100: 11,698 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 18% Iranian 5% Italian 4%
• Foreign-born: 2% · Vietnam
• Languages at home: 95% English-only · Vietnamese 2% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Meeker

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -32.0pp toward R · 2008: -10.8pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.6 2016: R+40.3 2012: R+16.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.86%
• Current HPI: 236.8659
• 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

2 events — show timeline

• 2026-06-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-10 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2025): $1,026 · +2.2% YoY. Source: county tax records.