129 W Ruth St · Mankato, MN 56001

$182,900

4 bd · 2.0 ba · 1,768 sqft · SingleFamily public records · 44 Days on market

Built 1920 8,624 sqft lot $103/sqft · 13% below area Est $250k · 27% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

Key facts

• Updated appliances
• Large back deck
• Two parcels

Tags

• TWO PARCELS
• UPDATED APPLIANCES
• FLEXIBLE FLOOR PLAN
• DUPLEX POTENTIAL
• BACKYARD
• LARGE BACK DECK

Property features AI

Exterior

• Parking: Detached or attached 1-car garage (22 x 14); Garage with approximately 308 square feet
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Two levels; Main entry level with finished main floor area
• Construction: Frame construction; Asphalt roof; Stone foundation; Year built not provided
• Exterior features: Wood exterior; Deck; City street frontage, cul-de-sac location, paved streets

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms (multiple on upper level; three bedrooms on one level)
• Flooring: Hardwood floors
• Bathrooms: Main floor full bathroom; One three-quarter bathroom (upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Separate/formal dining room; Full unfinished basement; 3 bedrooms on one level
• Laundry & utility: Washer/dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $183k).
• Recommended offer: $177k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 359 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $51k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $183k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,413 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.35%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (median comp): $250,231
• List price: $182,900
• Delta: -26.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1710 N Broad St	0.20mi	3/2.0 (-1)	1,589 (-10%)	7mo	$305,000	$192	63
1529 N 5th St	0.39mi	4/1.5	1,832 (+4%)	18mo	$247,000	$135	59
1419 N 5th St	0.44mi	3/1.0 (-1)	1,571 (-11%)	1mo	$279,900	$178	51
1415 N 4th St	0.39mi	4/1.0	1,526 (-14%)	9mo	$185,000	$121	47
1931 5th Ave	0.50mi	3/1.0 (-1)	1,597 (-10%)	14mo	$165,000	$103	40

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

Projected returns pro-forma

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

5-year hold

• IRR: 10.1%
• Equity multiple: 1.42×
• Total profit: $21,492
• Equity at exit: $27,271

10-year hold

• IRR: 22.9%
• Equity multiple: 3.42×
• Total profit: $124,164
• Equity at exit: $15,814

Cash invested: $51,212 (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 56001

• Rents YoY: 8.6%
• Active inventory: 359
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,297 medium
• Mortgage (P&I): −$959
• Tax from tax record: −$167 /mo · $2,006/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $612

Break-even live

Break-even rent $1,522

Max offer price $182,900

Occupancy floor 68%

Sensitivity live

Price	-10% $716	-5% $664	+0% $612	+5% $560	+10% $509
Rent	-10% $431	-5% $521	+0% $612	+5% $703	+10% $794
Rate	-1.0pp $704	-0.5pp $659	base $612	+0.5pp $565	+1.0pp $517

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: $45,725
• Closing costs: $5,487
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Wall St Unit 412 North Mankato, MN	4.0	2.5	2600	$2,300	$0.88	44d	1	1.25mi
1050 Marsh St Unit 326 Van Tol Mankato, MN	3.0	2.0	1461	$2,360	$1.62	44d	1	1.30mi

Listing history 23 events

1. 2026-06-21
   days on market $182,900 Active 44 DOM
2. 2026-06-19
   days on market $182,900 Active 42 DOM
3. 2026-06-18
   days on market $182,900 Active 41 DOM
4. 2026-06-17
   price $182,900 Active 40 DOM

   Show marketing remark (1185 chars)

   Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

5. 2026-06-17
   days on market $187,000 Active 40 DOM

   Show marketing remark (1185 chars)

   Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

6. 2026-06-16
   days on market $187,000 Active 39 DOM
7. 2026-06-15
   days on market $187,000 Active 38 DOM
8. 2026-06-14
   days on market $187,000 Active 36 DOM
9. 2026-06-13
   days on market $187,000 Active 35 DOM
10. 2026-06-10
    days on market $187,000 Active 33 DOM
11. 2026-06-09
    days on market $187,000 Active 32 DOM
12. 2026-06-08
    days on market $187,000 Active 31 DOM
13. 2026-06-07
    days on market $187,000 Active 30 DOM
14. 2026-06-05
    days on market $187,000 Active 27 DOM
15. 2026-06-03
    days on market $187,000 Active 26 DOM
16. 2026-06-02
    days on market $187,000 Active 25 DOM
17. 2026-06-01
    pricedays on market $187,000 Active 24 DOM

    Show marketing remark (1185 chars)

    Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

18. 2026-05-31
    days on market $190,000 Active 23 DOM
19. 2026-05-30
    days on market $190,000 Active 22 DOM
20. 2026-05-07
    listed $199,900 Active 1185-char remark

    Show marketing remark (1185 chars)

    Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

21. 2026-05-07
    listed $199,900 Active 1185-char remark

    Show marketing remark (1185 chars)

    Tucked away on a cul-de-sac in the heart of Mankato, this rare and versatile investment opportunity is packed with character, space, and endless potential! Situated on TWO parcels, this expansive 4 bedroom, 2 bathroom property offers an incredible blend of charm and functionality with soaring tall ceilings, spacious rooms, and abundant natural light throughout. The home features updated appliances, generous living areas, and a flexible floor plan perfect for investors, owner-occupants, or multi-generational living. With kitchens already located on both the main and second floors, the property has excellent duplex potential with the simple addition of a couple doors, creating an outstanding opportunity for separate living spaces. Outside, you’ll love the backyard offering endless room for entertaining, gardening, or future expansion, along with a large back deck perfect for summer gatherings and relaxing evenings. A detached garage adds even more convenience and storage space. Located close to shopping, restaurants, parks, and schools, this unique property combines investment potential, classic character, and everyday functionality all in one impressive package!

22. 2015-10-13
    soldstatus $100,100
23. 1993-02-01
    soldstatus $56,000

ⓘ 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: $2,006 · $167/mo
• Projected year-2 tax: $2,027 · $169/mo
• Expected delta: +$21/yr (+$2/mo · 1.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $27,566
• − Mortgage interest: −$10,245
• − Property taxes: −$2,006
• − Insurance: −$914
• − Repairs & maintenance: −$2,205
• − Management: −$2,205
• − Depreciation: −$5,321
• Taxable income: $4,669
• Est. tax owed @ 24.0%: −$1,120
• After-tax cash flow: $6,226/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

+226.6% since first listed

10 events — show timeline

• 2026-06-17 Price Changed $182,900 RASM
• 2026-06-17 Price Changed $182,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $187,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $187,000 RASM
• 2026-05-20 Price Changed $190,000 RASM
• 2026-05-20 Price Changed $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $199,900 RASM
• 2015-10-13 Sold (Public Records) $100,100 Public Records
• 1993-02-01 Sold (Public Records) $56,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,006 · -30.6% YoY. Source: county tax records.