660 11th St · Lafayette, MN 56054

$90,000

3 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 17 Days on market

Built 1996 0.42 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Single-Owner Manufactured Home on Large Lot Backing to Farmland. 1996 manufactured home offering 3 bedrooms and 2 bathrooms with a functional layout. The home includes two living areas, one featuring built-in shelves and cabinets, along with a kitchen and separate mud room. Situated on a large, irregular lot, the property backs up to a farm field, providing open space and added privacy. Patio cement slab, approximately 10'x10' near garage. A detached 15' x 15' single-car garage with a storage loft offers additional space for parking or storage. Hooked up to city sewer and water. Interior photos coming soon.

Key facts

• Separate mud room
• Large lot
• Two living areas

Tags

• LARGE LOT
• BACKING TO FARMLAND
• TWO LIVING AREAS
• BUILT-IN SHELVES
• SEPARATE MUD ROOM
• PATIO CEMENT SLAB

Property features AI

Exterior

• Home design: House
• Construction: Built or listed as having 1792 square feet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#570 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• New Ulm Public School District (town): math 51% / reading 51% proficiency, ranked #104 of 301 in MN (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary (math 47% / reading 39%, grade F, #574 of 857 statewide, top 67%, 619 students, 40% FRL); Washington Learning Center (188 students, 47% FRL); New Ulm High School (math 67% / reading 67%, grade B, #19 of 471 statewide, top 4%, 706 students, 29% FRL) — zoned schools average 39% FRL vs 21% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 109 units permitted in Nicollet County in 2024 (47 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (4.7% local appreciation)).
• At projected returns (4.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.41% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.46%
• DSCR: 1.95
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.0%
• Equity multiple: 2.90×
• Total profit: $47,964
• Equity at exit: $49,457

10-year hold

• IRR: 29.8%
• Equity multiple: 5.80×
• Total profit: $120,865
• Equity at exit: $84,105

Cash invested: $25,200 (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 56054

• Home prices YoY: 2.0%
• Active inventory: 6
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$42 /mo · $502/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $451

Break-even live

Break-even rent $698

Max offer price $90,000

Occupancy floor 59%

Sensitivity live

Price	-10% $502	-5% $476	+0% $451	+5% $425	+10% $400
Rent	-10% $350	-5% $400	+0% $451	+5% $501	+10% $551
Rate	-1.0pp $496	-0.5pp $473	base $451	+0.5pp $427	+1.0pp $404

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $90,000 Active 17 DOM
2. 2026-06-21
   days on market $90,000 Active 16 DOM
3. 2026-06-18
   days on market $90,000 Active 14 DOM
4. 2026-06-17
   days on market $90,000 Active 13 DOM
5. 2026-06-16
   days on market $90,000 Active 12 DOM
6. 2026-06-15
   days on market $90,000 Active 11 DOM
7. 2026-06-13
   days on market $90,000 Active 9 DOM
8. 2026-06-12
   days on market $90,000 Active 8 DOM
9. 2026-06-09
   days on market $90,000 Active 5 DOM
10. 2026-06-08
    days on market $90,000 Active 4 DOM
11. 2026-06-07
    days on market $90,000 Active 3 DOM
12. 2026-06-07
    remarks 614-char remark
13. 2026-06-07
    listed $90,000 Active 2 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: $502 · $42/mo
• Projected year-2 tax: $755 · $63/mo
• Expected delta: +$253/yr (+$21/mo · 50.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,218
• − Mortgage interest: −$5,041
• − Property taxes: −$502
• − Insurance: −$450
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$2,618
• Taxable income: $4,172
• Est. tax owed @ 24.0%: −$1,001
• After-tax cash flow: $4,406/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: New Ulm Public School District
• NCES district ID: 2723490
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $53,171
• Composite: 43.93/100
• National rank: #2906
• State rank: #104 of 301 in MN

Livability — Lafayette

• Score: 64/100
• State rank: #570
• US rank: #13738

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lafayette, MN
• Population (ZIP): 865

Population outlook (Nicollet County) Hauer SSP2

• Today (2025): 34,373 people
• By 2030: 34,666 · +0.9%
• By 2040: 34,616 · +0.7%
• By 2050: 34,340 · -0.1%
• By 2075: 33,171 · -3.5%
• By 2100: 31,949 · -7.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 10% Lithuanian 5% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Nicollet

• 2024 margin: Toss-up / Even · D 48.8% · R 49.3% · Other 1.9%
• 2008→2024 swing: -11.0pp toward R · 2008: 10.5pp · 2024: -0.5pp
• All cycles: 2024: R+0.5 2020: D+3.2 2016: R+3.1 2012: D+7.9 2008: D+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.72%
• Current HPI: 239.2149
• 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

• 2026-06-04 Listed $90,000 ForSaleByOwner.com

Property tax history

+1.3%/yr

Latest (2025): $502 · -6.0% YoY. Source: county tax records.