308 NW 1st St · Chisholm, MN 55719

$109,900

5 bd · 2.0 ba · 1,180 sqft · SingleFamily public records · 39 Days on market

Built 1900 3,125 sqft lot $93/sqft · 11% above area Est $99k · 11% over

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Why this score? — see what drove the C 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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move in ready. 2- 1 bedroom units all on one floor. Units both have been redone with new carpet, flooring, bathrooms. Newer windows and insulation. Live in one unit and rent the other one. Or live as single family home. Close to walking to downtown. Storage shed in back.

Key facts

• Insulation
• New carpet
• New flooring

Tags

• MOVE IN READY
• NEW CARPET
• NEW FLOORING
• NEW BATHROOMS
• NEWER WINDOWS
• INSULATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Duplex
• Construction: Frame construction; Vinyl siding
• Exterior features: Asphalt roof

Interior

• Heating & cooling: Natural gas heating; Has heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.7% in Chisholm — 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 74/100 on livability (#224 in MN, #4,803 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Chisholm Public School District (town): math 37% / reading 46% proficiency, ranked #219 of 301 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1900 — 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: 1.15% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (median comp): $99,410
• List price: $109,900
• Delta: 10.55%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,392
• Equity at exit: $16,386

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $25,888
• Equity at exit: $9,502

Cash invested: $30,772 (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 55719

• Home prices YoY: -18.1%
• Active inventory: 36
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $302

Break-even live

Break-even rent $886

Max offer price $109,900

Occupancy floor 71%

Sensitivity live

Price	-10% $364	-5% $333	+0% $302	+5% $271	+10% $240
Rent	-10% $202	-5% $252	+0% $302	+5% $352	+10% $402
Rate	-1.0pp $357	-0.5pp $330	base $302	+0.5pp $273	+1.0pp $244

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-13
   status $109,900 Pending 39 DOM
2. 2026-06-10
   days on market $109,900 Active 39 DOM
3. 2026-06-09
   days on market $109,900 Active 38 DOM
4. 2026-06-08
   days on market $109,900 Active 37 DOM
5. 2026-06-07
   days on market $109,900 Active 36 DOM
6. 2026-06-05
   days on market $109,900 Active 33 DOM
7. 2026-06-03
   days on market $109,900 Active 32 DOM
8. 2026-06-02
   days on market $109,900 Active 31 DOM
9. 2026-06-01
   days on market $109,900 Active 30 DOM
10. 2026-05-31
    days on market $109,900 Active 29 DOM
11. 2026-05-30
    days on market $109,900 Active 28 DOM
12. 2026-05-02
    listed $109,900 Active 271-char remark
13. 2000-02-01
    soldstatus $30,500

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $1,083 · $90/mo
• Expected delta: +$147/yr (+$12/mo · 15.8%)

ⓘ 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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,218
• − Mortgage interest: −$6,156
• − Property taxes: −$936
• − Insurance: −$550
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$3,197
• Taxable income: $1,945
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $3,154/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: Chisholm Public School District
• NCES district ID: 2708910
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 46% ▼ -14.00%
• Median HH income: $40,419
• Composite: 34.79/100
• National rank: #5114
• State rank: #219 of 301 in MN

Livability — Chisholm

• Score: 74/100
• State rank: #224
• US rank: #4803

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chisholm, MN
• Population (ZIP): 5,642

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 2%
• Common ancestry: Portuguese 9% Romanian 5% Iranian 1%
• Foreign-born: 0% · South Korea

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: ▼ -49.24%
• Current HPI: 222.3957
• 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

+260.7% since first listed

4 events — show timeline

• 2026-06-10 Pending — RAOR
• 2026-06-08 Sold (MLS) $110,000 RAOR
• 2026-05-02 Listed $109,900 RAOR
• 2000-02-01 Sold (Public Records) $30,500 Public Records

Property tax history

+16.7%/yr

Latest (2026): $936 · +12.2% YoY. Source: county tax records.