701 10th Ave SE · Austin, MN 55912

$92,000

1 bd · 1.0 ba · 598 sqft · SingleFamily public records · 30 Days on market

Built 1937 5,096 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this 2 story home offering functionality, and affordability all in one. Featuring a spacious living room and an eat-in kitchen. Located on a quiet corner lot in Austin. Enjoy the outdoors in your large fenced-in yard or patio. Great opportunity for any buyer looking for a place to call home!

Key facts

• 5,096 sq ft lot
• Garage
• Built 1937

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $91k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.7% 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: 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.
• Zoned schools: Southgate Elementary (math 48% / reading 41%, grade F, #534 of 857 statewide, top 66%, 496 students, 64% FRL); I.J. Holton Intermediate School (math 19% / reading 41%, grade F, #199 of 258 statewide, top 78%, 741 students, 68% FRL); Austin Senior High (math 32% / reading 44%, grade F, #278 of 471 statewide, top 59%, 1,345 students, 60% FRL) — zoned schools average 64% FRL vs 46% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.6%/yr); 190 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $636 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 $26k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y 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 $54k; list at $92k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,620 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — 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: 1.18% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 7.1

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: 7.6%
• Equity multiple: 1.31×
• Total profit: $8,031
• Equity at exit: $13,717

10-year hold

• IRR: 20.6%
• Equity multiple: 3.14×
• Total profit: $55,153
• Equity at exit: $7,954

Cash invested: $25,760 (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: 190
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $271

Break-even live

Break-even rent $740

Max offer price $92,000

Occupancy floor 70%

Sensitivity live

Price	-10% $323	-5% $297	+0% $271	+5% $245	+10% $219
Rent	-10% $185	-5% $228	+0% $271	+5% $313	+10% $356
Rate	-1.0pp $317	-0.5pp $294	base $271	+0.5pp $247	+1.0pp $223

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$1,651	$1.68	46d	96	1.10mi
711 1st Dr NW Apt A Austin, MN	2.0	1.0	696	$1,100	$1.58	47d	1	1.10mi
1105 3rd St NW Austin, MN	1.0	1.0	720	$925	$1.28	46d	2	1.42mi

Listing history 29 events

1. 2026-05-18
   status Pending 302-char remark

   Show marketing remark (302 chars)

   Step into this 2 story home offering functionality, and affordability all in one. Featuring a spacious living room and an eat-in kitchen. Located on a quiet corner lot in Austin. Enjoy the outdoors in your large fenced-in yard or patio. Great opportunity for any buyer looking for a place to call home!

2. 2026-05-14
   price $92,000 302-char remark

   Show marketing remark (302 chars)

   Step into this 2 story home offering functionality, and affordability all in one. Featuring a spacious living room and an eat-in kitchen. Located on a quiet corner lot in Austin. Enjoy the outdoors in your large fenced-in yard or patio. Great opportunity for any buyer looking for a place to call home!

3. 2026-04-17
   listed $95,000 Active 302-char remark

   Show marketing remark (302 chars)

   Step into this 2 story home offering functionality, and affordability all in one. Featuring a spacious living room and an eat-in kitchen. Located on a quiet corner lot in Austin. Enjoy the outdoors in your large fenced-in yard or patio. Great opportunity for any buyer looking for a place to call home!

4. 2026-04-14
   historical $95,000 302-char remark

   Show marketing remark (302 chars)

   Step into this 2 story home offering functionality, and affordability all in one. Featuring a spacious living room and an eat-in kitchen. Located on a quiet corner lot in Austin. Enjoy the outdoors in your large fenced-in yard or patio. Great opportunity for any buyer looking for a place to call home!

5. 2021-12-29
   soldstatus $54,500
6. 2021-12-10
   soldstatus $54,500 Sold 352-char remark

   Show marketing remark (352 chars)

   Cozy 1+ Bedroom... (walk through office or use as your 2nd bedroom). Spacious Living Room, Eat-in Kitchen w/Ample Cabinets and Counter Space, Garage, Large Fenced Yard with Fruit Trees and Relaxing Patio. Several upgrades make this home Move-In Ready. Priced right for the budget buyer... possibly less than your current rent. Come take a tour today.

7. 2021-10-27
   status Pending 352-char remark

   Show marketing remark (352 chars)

   Cozy 1+ Bedroom... (walk through office or use as your 2nd bedroom). Spacious Living Room, Eat-in Kitchen w/Ample Cabinets and Counter Space, Garage, Large Fenced Yard with Fruit Trees and Relaxing Patio. Several upgrades make this home Move-In Ready. Priced right for the budget buyer... possibly less than your current rent. Come take a tour today.

8. 2021-09-23
   price $64,500 352-char remark

   Show marketing remark (352 chars)

   Cozy 1+ Bedroom... (walk through office or use as your 2nd bedroom). Spacious Living Room, Eat-in Kitchen w/Ample Cabinets and Counter Space, Garage, Large Fenced Yard with Fruit Trees and Relaxing Patio. Several upgrades make this home Move-In Ready. Priced right for the budget buyer... possibly less than your current rent. Come take a tour today.

9. 2021-08-20
   listed $69,900 Active 352-char remark

   Show marketing remark (352 chars)

   Cozy 1+ Bedroom... (walk through office or use as your 2nd bedroom). Spacious Living Room, Eat-in Kitchen w/Ample Cabinets and Counter Space, Garage, Large Fenced Yard with Fruit Trees and Relaxing Patio. Several upgrades make this home Move-In Ready. Priced right for the budget buyer... possibly less than your current rent. Come take a tour today.

10. 2018-12-10
    historical
11. 2018-12-10
    historical
12. 2018-12-10
    historical
13. 2018-12-09
    historical
14. 2014-09-12
    soldstatus $32,000
15. 2014-09-11
    soldstatus $32,000
16. 2014-09-11
    soldstatus $32,000
17. 2014-09-11
    soldstatus $32,000
18. 2014-09-11
    soldstatus $32,000 Sold
19. 2014-08-01
    status Pending
20. 2014-07-11
    listed $32,700 Active
21. 2014-07-10
    listed $32,700
22. 2014-07-10
    listed $32,700
23. 2014-07-10
    listed $32,700
24. 2009-04-10
    soldstatus $19,000
25. 2009-01-26
    listed $24,900
26. 2008-02-05
    listed $29,900
27. 2008-02-05
    listed $29,900
28. 1999-01-04
    listed $35,000
29. 1999-01-04
    listed $35,000

ⓘ 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: $762 · $64/mo
• Projected year-2 tax: $896 · $75/mo
• Expected delta: +$134/yr (+$11/mo · 17.6%)

ⓘ 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: $12,986
• − Mortgage interest: −$5,153
• − Property taxes: −$762
• − Insurance: −$460
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$2,676
• Taxable income: $1,856
• Est. tax owed @ 24.0%: −$446
• After-tax cash flow: $2,802/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

+162.9% since first listed

29 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $92,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Coming Soon $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-29 Sold (Public Records) $54,500 Public Records
• 2021-12-10 Sold (MLS) $54,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-10-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-23 Price Changed $64,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-20 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-12 Sold (Public Records) $32,000 Public Records
• 2014-09-11 Sold (MLS) $32,000 LSAR
• 2014-09-11 Sold (MLS) $32,000 RASM
• 2014-09-11 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-11 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-11 Listed $32,700 NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-10 Listed $32,700 LSAR
• 2014-07-10 Listed $32,700 RASM
• 2014-07-10 Listed $32,700 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-10 Sold (MLS) $19,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-26 Listed $24,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-05 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-05 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-01-04 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-01-04 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.8%/yr

Latest (2025): $762 · +5.5% YoY. Source: county tax records.