114 S 3rd St · Kiester, MN 56051

$74,900

2 bd · 1.5 ba · 1,105 sqft · Other public records · 75 Days on market

Built 1967 10,018 sqft lot $68/sqft · 7% above area Est $65k · 15% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +6.1/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0

Listing remarks MLS

Charming and functional! This 3-bedroom, 1.5-bath home offers comfortable living with plenty of space to enjoy. The large yard provides endless possibilities for outdoor activities, gardening, or entertaining, while convenient alley access adds extra flexibility for parking or future improvements. A great opportunity to make it your own!

Key facts

• 0.23 acre lot
• Garage
• Built 1967

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#710 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime D-.
• United South Central School District (rural): math 46% / reading 53% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($518 loan paydown + $2k appreciation (2.1% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.48% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.62%
• DSCR: 1.74
• GRM: 5.6

CMA / ARV

• ARV (median comp): $65,226
• List price: $74,900
• Delta: 14.83%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

2.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.15×
• Total profit: $24,208
• Equity at exit: $30,093

10-year hold

• IRR: 23.1%
• Equity multiple: 4.08×
• Total profit: $64,693
• Equity at exit: $43,760

Cash invested: $20,972 (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 56051

• Home prices YoY: 0.9%
• Active inventory: 8
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$162 /mo · $1,938/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $290

Break-even live

Break-even rent $741

Max offer price $74,900

Occupancy floor 69%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $74,900 Active 75 DOM
2. 2026-06-18
   days on market $74,900 Active 74 DOM
3. 2026-06-17
   days on market $74,900 Active 73 DOM
4. 2026-06-16
   days on market $74,900 Active 72 DOM
5. 2026-06-15
   days on market $74,900 Active 71 DOM
6. 2026-06-14
   days on market $74,900 Active 69 DOM
7. 2026-06-12
   days on market $74,900 Active 68 DOM
8. 2026-06-09
   days on market $74,900 Active 65 DOM
9. 2026-06-08
   days on market $74,900 Active 64 DOM
10. 2026-06-07
    days on market $74,900 Active 63 DOM
11. 2026-06-07
    days on market $74,900 Active 62 DOM
12. 2026-06-04
    days on market $74,900 Active 59 DOM
13. 2026-06-02
    days on market $74,900 Active 58 DOM
14. 2026-06-01
    days on market $74,900 Active 57 DOM
15. 2026-05-31
    days on market $74,900 Active 56 DOM
16. 2026-05-31
    days on market $74,900 Active 55 DOM
17. 2026-05-11
    price $74,900 339-char remark

    Show marketing remark (339 chars)

    Charming and functional! This 3-bedroom, 1.5-bath home offers comfortable living with plenty of space to enjoy. The large yard provides endless possibilities for outdoor activities, gardening, or entertaining, while convenient alley access adds extra flexibility for parking or future improvements. A great opportunity to make it your own!

18. 2026-05-01
    status Active 339-char remark

    Show marketing remark (339 chars)

    Charming and functional! This 3-bedroom, 1.5-bath home offers comfortable living with plenty of space to enjoy. The large yard provides endless possibilities for outdoor activities, gardening, or entertaining, while convenient alley access adds extra flexibility for parking or future improvements. A great opportunity to make it your own!

19. 2026-05-01
    historical 339-char remark

    Show marketing remark (339 chars)

    Charming and functional! This 3-bedroom, 1.5-bath home offers comfortable living with plenty of space to enjoy. The large yard provides endless possibilities for outdoor activities, gardening, or entertaining, while convenient alley access adds extra flexibility for parking or future improvements. A great opportunity to make it your own!

20. 2026-04-04
    listed $79,900 Active 339-char remark

    Show marketing remark (339 chars)

    Charming and functional! This 3-bedroom, 1.5-bath home offers comfortable living with plenty of space to enjoy. The large yard provides endless possibilities for outdoor activities, gardening, or entertaining, while convenient alley access adds extra flexibility for parking or future improvements. A great opportunity to make it your own!

21. 2025-02-08
    historical
22. 2024-09-12
    price $120,000
23. 2024-08-07
    listed $125,000 Active
24. 2024-04-26
    soldstatus $100,000
25. 2024-04-15
    status Pending
26. 2024-04-15
    soldstatus $100,000 Sold
27. 2024-04-15
    soldstatus $100,000 Closed
28. 2024-03-04
    historical Active Under Contract
29. 2024-03-04
    historical Contingent - Subject to Financing
30. 2024-02-29
    listed $97,000 Active
31. 2024-02-28
    listed $97,000 Active
32. 2023-06-20
    soldstatus $45,400
33. 2020-12-14
    soldstatus $52,000
34. 2020-12-04
    soldstatus $52,000
35. 2020-07-13
    listed $55,000
36. 2018-12-11
    historical
37. 2017-09-27
    soldstatus $41,900
38. 2017-04-24
    listed $44,900
39. 2008-04-28
    soldstatus $50,000

ⓘ 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: $1,938 · $162/mo
• Projected year-2 tax: $1,938 · $162/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $13,305
• − Mortgage interest: −$4,196
• − Property taxes: −$1,938
• − Insurance: −$374
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$2,179
• Taxable income: $2,489
• Est. tax owed @ 24.0%: −$597
• After-tax cash flow: $2,888/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: United South Central School District
• NCES district ID: 2700005
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $46,722
• Composite: 42.03/100
• National rank: #3330
• State rank: #130 of 301 in MN

Livability — Kiester

• Score: 62/100
• State rank: #710
• US rank: #17133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kiester, MN
• City population: 648
• Population (ZIP): 648

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 29% Serbian 6% Scottish 5%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.13%
• Current HPI: 231.8589
• 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

+49.8% since first listed

23 events — show timeline

• 2026-05-11 Price Changed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-04 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-12 Price Changed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-07 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-26 Sold (Public Records) $100,000 Public Records
• 2024-04-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-15 Sold (MLS) $100,000 RASM
• 2024-04-15 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-04 Contingent — RASM
• 2024-03-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-29 Listed $97,000 RASM
• 2024-02-28 Listed $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-20 Sold (Public Records) $45,400 Public Records
• 2020-12-14 Sold (Public Records) $52,000 Public Records
• 2020-12-04 Sold (MLS) $52,000 RASM
• 2020-07-13 Listed $55,000 RASM
• 2018-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-27 Sold (MLS) $41,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-24 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-28 Sold (Public Records) $50,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,938 · +4.4% YoY. Source: county tax records.