700 12th Ave SW · Austin, MN 55912

$114,900

2 bd · 1.0 ba · 720 sqft · Other public records · 13 Days on market

Built 1940 3,615 sqft lot

---

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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2 bedroom home with hardwood floors. The basement has a family room. Pretty fenced-in yard to enjoy outdoor living. Extra parking area also can be used as a patio. Great starter home.

Key facts

• 3,615 sq ft lot
• Garage
• Built 1940

Property features AI

Finance

• Other: Above-grade finished living area 984 (unit details provided); Basement: full basement; Main level finished area 504; Total building area 1,464
• Financial info: Standard rental license in place

Exterior

• Parking: Attached garage (1 car); One carport space
• Utilities: City water connected; City sewer connected; Electric with circuit breakers; Natural gas
• Home design: Residential property; Two levels; Entry from main level
• Construction: Asphalt roof; Block foundation; Built with a 20 x 24 foundation area
• Exterior features: Partial wood fencing; City-maintained street frontage

Interior

• Kitchen: Kitchen on the main level with range and refrigerator
• Bedrooms: Two bedrooms (both on the upper level)
• Bathrooms: One full bathroom (upper level)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Range, Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $114k (1.1% below list).
• Recommended offer: $114k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.5% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 5 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; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 22y 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 $93k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,678 (1.1% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,945
• Equity at exit: $17,132

10-year hold

• IRR: 12.0%
• Equity multiple: 2.16×
• Total profit: $37,192
• Equity at exit: $9,934

Cash invested: $32,172 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 188
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$603
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $152

Break-even live

Break-even rent $944

Max offer price $114,900

Occupancy floor 82%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 1st Dr NW Apt A Austin, MN	2.0	1.0	696	$1,100	$1.58	44d	1	1.14mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	43d	96	1.18mi
600 14th St NW Apt 6 Austin, MN	2.0	1.0	700	$995	$1.42	43d	1	1.20mi
900 14th St NW Austin, MN	2.0	1.0	518	$1,050	$2.03	43d	18	1.40mi
1105 3rd St NW Austin, MN	1.0	1.0	720	$925	$1.28	43d	2	1.43mi

Listing history 28 events

1. 2026-05-13
   listed $114,900 Active 101-char remark
2. 2026-05-01
   historical
3. 2026-04-17
   price $114,900
4. 2026-03-13
   price $119,900
5. 2026-03-02
   price $124,900
6. 2026-03-02
   listed $119,900 Active
7. 2024-01-28
   historical $1,050
8. 2024-01-05
   listed $1,050
9. 2022-10-06
   soldstatus $92,900
10. 2022-10-05
    soldstatus $92,900 Sold

    Show marketing remark (192 chars)

    Cozy 2 bedroom home with hardwood floors. The basement has a family room. Pretty fenced-in yard to enjoy outdoor living. Extra parking area also can be used as a patio. Great starter home.

11. 2022-07-25
    status Pending

    Show marketing remark (192 chars)

    Cozy 2 bedroom home with hardwood floors. The basement has a family room. Pretty fenced-in yard to enjoy outdoor living. Extra parking area also can be used as a patio. Great starter home.

12. 2022-07-12
    listed $92,900 Active

    Show marketing remark (192 chars)

    Cozy 2 bedroom home with hardwood floors. The basement has a family room. Pretty fenced-in yard to enjoy outdoor living. Extra parking area also can be used as a patio. Great starter home.

13. 2019-07-16
    soldstatus $46,470
14. 2018-12-10
    historical
15. 2018-12-10
    historical
16. 2011-07-15
    listed $69,900
17. 2011-07-15
    listed $69,900
18. 2010-11-01
    listed $69,900
19. 2010-11-01
    listed $69,900
20. 2008-07-03
    soldstatus $46,470
21. 2004-07-28
    soldstatus $42,000
22. 2004-07-28
    soldstatus $42,000
23. 2004-07-28
    soldstatus $42,000
24. 2004-07-09
    historical
25. 2004-07-01
    soldstatus $42,000
26. 2004-06-30
    listed $42,000
27. 2004-06-29
    listed $42,000
28. 2004-06-29
    listed $42,000

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,217 · $101/mo
• Expected delta: +$69/yr (+$6/mo · 6.0%)

ⓘ 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: $13,641
• − Mortgage interest: −$6,436
• − Property taxes: −$1,148
• − Insurance: −$574
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$3,343
• Taxable loss: −$42
• Est. tax savings @ 24.0%: +$10
• After-tax cash flow: $1,834/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

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: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+173.6% since first listed

29 events — show timeline

• 2026-05-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-13 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Price Changed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-28 Rental Removed $1,050 APPFOLIO
• 2024-01-05 Listed for Rent $1,050 APPFOLIO
• 2022-10-06 Sold (Public Records) $92,900 Public Records
• 2022-10-05 Sold (MLS) $92,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-12 Listed $92,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-16 Sold (Public Records) $46,470 Public Records
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-15 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-15 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-01 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-01 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-03 Sold (Public Records) $46,470 Public Records
• 2004-07-28 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-28 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-28 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-01 Sold (Public Records) $42,000 Public Records
• 2004-06-30 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-29 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-29 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $1,148 · +11.0% YoY. Source: county tax records.