1216 9th Ave SE · Rochester, MN 55904

$145,000

1 bd · 1.0 ba · 524 sqft · SingleFamily public records · 15 Days on market

Built 1930 6,534 sqft lot

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Why this score? — see what drove the D 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 +13.0/30.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• DSCR +3.9/10.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

Key facts

• Newer shingles
• Large fenced yard
• Detached garage

Tags

• LARGE FENCED YARD
• DETACHED GARAGE
• NEAR MAYO HIGH SCHOOL
• NEWER SHINGLES

Property features AI

Exterior

• Parking: Detached or on-site asphalt parking; 1-car garage (approx. 14 x 20)
• Utilities: City water; City sewer; Natural gas; Circuit breaker electric service; Power provided by Rochester Public Utilities
• Home design: Residential property; One story
• Construction: Block and frame construction; Block foundation; Roof replaced/installed within last 8 years; Basement: full, block construction with sump pump
• Exterior features: Patio; Chain link fencing; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom
• Bathrooms: Main floor full bathroom
• Heating & cooling: Forced air heating; Window AC unit(s)
• Interior features: Informal dining area; Water softener (owned)
• Laundry & utility: Washer and Dryer (located in basement)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-7 ($-84/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (19.4% below list).
• Recommended offer: $117k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.5% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Franklin Elementary (math 31% / reading 37%, grade F, #666 of 857 statewide, top 78%, 562 students, 67% FRL); Willow Creek Middle (math 19% / reading 36%, grade F, #213 of 258 statewide, top 82%, 890 students, 45% FRL); Mayo Senior High (math 42% / reading 65%, grade C-, #104 of 471 statewide, top 22%, 1,862 students, 31% FRL) — zoned schools average 48% FRL vs 31% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 151 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $90k; list at $145k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,832 (19.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1930 — 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. Schools are A-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.1% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-25,018
• Equity at exit: $21,620

10-year hold

• IRR: -11.4%
• Equity multiple: 0.34×
• Total profit: $-26,694
• Equity at exit: $12,537

Cash invested: $40,600 (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 55904

• Rents YoY: 2.1%
• Active inventory: 151
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$760
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-7

Break-even live

Break-even rent $1,177

Max offer price $143,762

Occupancy floor 96%

Sensitivity live

Price	-10% $75	-5% $34	+0% $-7	+5% $-48	+10% $-89
Rent	-10% $-99	-5% $-53	+0% $-7	+5% $39	+10% $85
Rate	-1.0pp $66	-0.5pp $30	base $-7	+0.5pp $-45	+1.0pp $-83

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 6th Ave SE Unit 4 Rochester, MN	1.0	1.0	650	$825	$1.27	45d	1	0.35mi
504 14th St SE #6 Rochester, MN	2.0	1.0	725	$995	$1.37	45d	1	0.36mi
1505 Marion Rd SE Rochester, MN	1.0–3.0	1.0–2.0	864	$1,225	$1.42	15d	1	0.79mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$2,422	$2.13	15d	91	0.91mi
223 8th Ave SE Unit 2 Rochester, MN	1.0	1.0	600	$975	$1.62	45d	1	0.97mi
28 6th Ave SE Unit 3 Rochester, MN	1.0	1.0	650	$1,050	$1.62	22d	1	1.09mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,520	$2.35	15d	26	1.11mi
418 6th St SW Unit A418-924 Rochester, MN	1.0	1.0	500	$1,200	$2.40	22d	1	1.13mi
418 6th St SW Unit A418-936 Rochester, MN	1.0	1.0	500	$1,150	$2.30	45d	1	1.13mi
418 6th St SW Unit A418-929 Rochester, MN	1.0	1.0	400	$1,100	$2.75	22d	1	1.13mi
504 E Center St Unit 2 Rochester, MN	1.0	1.0	675	$800	$1.19	45d	1	1.15mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$1,545	$1.33	15d	40	1.20mi
1513 2nd St NE Rochester, MN	1.0	1.0	496	$1,150	$2.32	15d	1	1.37mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,150	$1.59	15d	4	1.37mi
625 3rd St SW Rochester, MN	1.0–2.0	1.0	612	$1,170	$1.91	15d	3	1.45mi
620 2nd St SW Rochester, MN	1.0	1.0	406	$995	$2.45	15d	11	1.45mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,120	$2.19	15d	3	1.49mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $145,000 Pending 15 DOM
2. 2026-06-05
   days on market $145,000 Contingent - Inspection 13 DOM
3. 2026-06-03
   days on market $145,000 Contingent - Inspection 12 DOM
4. 2026-06-02
   days on market $145,000 Contingent - Inspection 11 DOM
5. 2026-06-01
   days on market $145,000 Contingent - Inspection 10 DOM
6. 2026-05-31
   days on market $145,000 Contingent - Inspection 9 DOM
7. 2026-05-30
   days on market $145,000 Contingent - Inspection 8 DOM
8. 2026-05-22
   listed $145,000 Active
9. 2019-11-14
   soldstatus $89,900
10. 2019-11-08
    soldstatus $89,900 Sold 390-char remark

    Show marketing remark (390 chars)

    Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

11. 2019-10-14
    status Pending 390-char remark

    Show marketing remark (390 chars)

    Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

12. 2019-10-08
    historical Contingent - Inspection 390-char remark

    Show marketing remark (390 chars)

    Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

13. 2019-10-04
    listed $89,900 Active 390-char remark

    Show marketing remark (390 chars)

    Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

14. 2019-10-01
    historical $89,900 390-char remark

    Show marketing remark (390 chars)

    Check out this adorable "tiny home" in SE Rochester! With tons of charm and a great location, this home is going to sell fast! This is a great opportunity for someone that wants a home they can put their personal touches on, without needing a large amount of work.This home would be a great investment opportunity with possibility of becoming a rental as well. Come see it today!

15. 2004-06-07
    soldstatus $74,000
16. 2004-05-27
    soldstatus $74,000
17. 1996-04-01
    soldstatus $38,250
18. 1991-04-01
    soldstatus $30,000
19. 1989-10-01
    soldstatus $26,500

ⓘ 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: $1,310 · $109/mo
• Projected year-2 tax: $1,467 · $122/mo
• Expected delta: +$157/yr (+$13/mo · 12.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $14,020
• − Mortgage interest: −$8,122
• − Property taxes: −$1,310
• − Insurance: −$725
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$4,218
• Taxable loss: −$2,599
• Est. tax savings @ 24.0%: +$624
• After-tax cash flow: $540/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 29,639
• Household income: $77,016
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 864.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 11% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.04%
• Current HPI: 267.168
• Rent YoY: ▲ 2.10%
• Metro: Rochester, 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

+447.2% since first listed

12 events — show timeline

• 2026-05-22 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-14 Sold (Public Records) $89,900 Public Records
• 2019-11-08 Sold (MLS) $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-04 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-01 Coming Soon $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-07 Sold (Public Records) $74,000 Public Records
• 2004-05-27 Sold (Public Records) $74,000 Public Records
• 1996-04-01 Sold (Public Records) $38,250 Public Records
• 1991-04-01 Sold (Public Records) $30,000 Public Records
• 1989-10-01 Sold (Public Records) $26,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $1,310 · +3.6% YoY. Source: county tax records.