213 Wisconsin Ave W · Gilbert, MN 55741

$99,500

4 bd · 2.0 ba · 1,704 sqft · SingleFamily public records · 187 Days on market

Built 1910 3,485 sqft lot Est $143k · 30% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 4-bedroom, 2.5-bath home in Gilbert, MN has solid bones and great character. It’s on a quiet street with friendly neighbors and close to local parks. Inside, you’ll find original woodwork, high ceilings, and large rooms. Fresh paint gives the home a clean feel, and there are hardwood floors in many areas. The roof is about 7 years old, the water heater is around 3 years old, and the furnace fan and tubing were recently replaced. This home is sturdy, comfortable, and ready for its next owner.

Key facts

• Quiet street
• Original woodwork
• High ceilings

Tags

• ORIGINAL WOODWORK
• HIGH CEILINGS
• HARDWOOD FLOORS
• QUIET STREET
• CLOSE TO LOCAL PARKS

Property features AI

Exterior

• Parking: No on-site parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; 2 stories
• Construction: Frame construction; Vinyl siding; Asphalt shingle roof
• Exterior features: No patio or porch

Interior

• Kitchen: Electric range; Gas range; Refrigerator; Dishwasher not listed
• Heating & cooling: Has heating
• Interior features: Natural gas heating; Electric water heater
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#704 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools D-.
• Market conditions: 26 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($688 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $100k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $143,136
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 S Summit St	0.20mi	3/1.8 (-1)	1,958 (+15%)	14mo	$165,000	$84	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.8%
• Equity multiple: 4.05×
• Total profit: $84,880
• Equity at exit: $89,637

10-year hold

• IRR: 34.3%
• Equity multiple: 9.10×
• Total profit: $225,734
• Equity at exit: $193,307

Cash invested: $27,860 (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 55741

• Home prices YoY: 23.4%
• Active inventory: 26
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $482

Break-even live

Break-even rent $761

Max offer price $99,500

Occupancy floor 60%

Sensitivity live

Price	-10% $539	-5% $511	+0% $482	+5% $454	+10% $426
Rent	-10% $374	-5% $428	+0% $482	+5% $537	+10% $591
Rate	-1.0pp $532	-0.5pp $508	base $482	+0.5pp $457	+1.0pp $430

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-16
   days on market $99,500 Active 187 DOM
2. 2026-06-15
   days on market $99,500 Active 186 DOM
3. 2026-06-14
   days on market $99,500 Active 184 DOM
4. 2026-06-13
   days on market $99,500 Active 183 DOM
5. 2026-06-10
   days on market $99,500 Active 181 DOM
6. 2026-06-09
   days on market $99,500 Active 180 DOM
7. 2026-06-08
   days on market $99,500 Active 179 DOM
8. 2026-06-07
   days on market $99,500 Active 178 DOM
9. 2026-06-05
   days on market $99,500 Active 175 DOM
10. 2026-06-03
    days on market $99,500 Active 174 DOM
11. 2026-06-02
    days on market $99,500 Active 173 DOM
12. 2026-06-01
    days on market $99,500 Active 172 DOM
13. 2026-05-31
    days on market $99,500 Active 171 DOM
14. 2026-05-30
    days on market $99,500 Active 170 DOM
15. 2026-04-16
    price $99,500
16. 2026-02-11
    price $104,900
17. 2025-12-11
    listed $109,900 Active
18. 2022-02-10
    soldstatus $60,000
19. 2018-12-04
    soldstatus $60,000
20. 2009-01-16
    listed $86,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $783 · $65/mo
• Expected delta: +$331/yr (+$28/mo · 73.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,455
• − Mortgage interest: −$5,574
• − Property taxes: −$452
• − Insurance: −$498
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$2,895
• Taxable income: $4,405
• Est. tax owed @ 24.0%: −$1,057
• After-tax cash flow: $4,731/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)

No district data.

Livability — Gilbert

• Score: 62/100
• State rank: #704
• US rank: #16952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, MN
• Population (ZIP): 2,933

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 58.57%
• Current HPI: 308.63
• 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

+15.7% since first listed

6 events — show timeline

• 2026-04-16 Price Changed $99,500 RAOR
• 2026-02-11 Price Changed $104,900 RAOR
• 2025-12-11 Listed $109,900 RAOR
• 2022-02-10 Sold (Public Records) $60,000 Public Records
• 2018-12-04 Sold (Public Records) $60,000 Public Records
• 2009-01-16 Listed $86,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-7.2%/yr

Latest (2025): $452 · -5.4% YoY. Source: county tax records.