433 County Road St N

Hendrum, MN 56550

$105,000C

3 bd · 2.0 ba · 1,178 sqft · Built 2005 · SingleFamily · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,075/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $123/mo
• Annual: $1,479/yr
• Cap rate: 7.70%
• Cash-on-cash: 5.03%
• DSCR: 1.22
• 1% rule: 1.02%
• Cash to close: $29,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $105k. Condition is rated poor.
• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#528 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: crime D+, health & safety D+, amenities F.
• Market conditions: 5 active listings in the ZIP; 8 units permitted in Norman County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen — No photos of the kitchen
• Major: bathrooms — No photos of the bathrooms
• Major: roof — No photos of the roof
• Major: exterior — No photos of the exterior
• Major: flooring — No photos of the flooring
• Major: interior walls/paint — No photos of the interior walls/paint