803 S Pine St · Caledonia, MN 55921

$147,500

6 bd · 2.0 ba · 1,987 sqft · SingleFamily public records · 13 Days on market

Built 1916 $74/sqft · 47% below area Est $215k · 31% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Schools +4.7/10.0
• Livability +4.1/5.0
• 1% rule +3.4/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of comfort, space, and small-town charm with this beautifully remodeled 2-story home. Situated on a rare double lot on the edge of town, this property gives you the freedom to enjoy peaceful, country-style living without leaving town. Inside, the home features 3 bedrooms upstairs with a full bath. Main floor features a 4th bedroom, laundry and 3/4 bath, offering flexibility for families, guests, or a home office. The interior has been thoughtfully updated. Updated electrical and plumbing, new insulation and sheetrock, giving you peace of mind and energy efficiency. A newer furnace and A/C unit ensures reliable comfort through every season. The basement adds even m

Key facts

• Double lot
• Dedicated workshop
• Campfire pit

Tags

• DOUBLE LOT
• THREE-SEASON FRONT PORCH
• DEDICATED WORKSHOP
• SEPARATE CRAFT ROOM
• CAMPFIRE PIT
• BACKYARD CHICKEN COOP

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $-61 ($-735/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (16.3% below list).
• Recommended offer: $123k (16.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#45 in MN, #1,226 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F.
• Caledonia Public School District (rural): math 49% / reading 61% proficiency, ranked #69 of 301 in MN (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 48 units permitted in Houston County in 2024 (0 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.
• Houston County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $114k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,490 (16.3% 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 1916 — 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: 0.84% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 10.0

CMA / ARV

• ARV (median comp): $214,551
• List price: $147,500
• Delta: -31.25%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.2%
• Equity multiple: 0.33×
• Total profit: $-27,772
• Equity at exit: $21,993

10-year hold

• IRR: -11.8%
• Equity multiple: 0.30×
• Total profit: $-29,085
• Equity at exit: $12,753

Cash invested: $41,300 (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 55921

• Home prices YoY: -32.8%
• Active inventory: 23
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,235 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$202 /mo · $2,422/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-61

Break-even live

Break-even rent $1,312

Max offer price $136,684

Occupancy floor 100%

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-14
   listed $147,500 Active 1569-char remark
2. 2005-03-24
   soldstatus $114,500

ⓘ 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: $2,422 · $202/mo
• Projected year-2 tax: $2,422 · $202/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 15 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: $14,819
• − Mortgage interest: −$8,262
• − Property taxes: −$2,422
• − Insurance: −$738
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$4,291
• Taxable loss: −$3,265
• Est. tax savings @ 24.0%: +$784
• After-tax cash flow: $49/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: Caledonia Public School District
• NCES district ID: 2707380
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 61% ▬ 0.00%
• Median HH income: $49,810
• Composite: 46.87/100
• National rank: #2369
• State rank: #69 of 301 in MN

Livability — Caledonia

• Score: 82/100
• State rank: #45
• US rank: #1226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caledonia, MN
• Population (ZIP): 4,793

Population outlook (Houston County) Hauer SSP2

• Today (2025): 18,304 people
• By 2030: 17,878 · -2.3%
• By 2040: 16,673 · -8.9%
• By 2050: 15,378 · -16.0%
• By 2075: 13,146 · -28.2%
• By 2100: 11,117 · -39.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Houston

• 2024 margin: R (+16.5) · D 41.0% · R 57.5% · Other 1.6%
• 2008→2024 swing: -27.2pp toward R · 2008: 10.7pp · 2024: -16.5pp
• All cycles: 2024: R+16.5 2020: R+12.9 2016: R+14.0 2012: D+3.2 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.28%
• Current HPI: 207.1254
• 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

1 event — show timeline

• 2005-03-24 Sold (Public Records) $114,500 Public Records

Property tax history

+3.7%/yr

Latest (2025): $2,422 · +10.7% YoY. Source: county tax records.