114 S Thompson Ave · Rushmore, MN 56168

$75,000

3 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 146 Days on market

Built 1888 0.26 ac 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

2-Bedroom Home with Investment Potential! Whether you're looking for your next investment property or a cozy personal home, this 2-bedroom, 1-bath is full of potential. Featuring durable vinyl siding and a spacious layout, the home offers a bright living space with a bonus screened-in porch—perfect for relaxing on warm summer evenings. Situated on a generously sized yard, there's plenty of room for outdoor entertaining, gardening, or expansion. The property includes both a single-stall attached garage and a detached single-stall garage, offering ample storage or workshop options. Ideal for homeowners or investors alike, this property is ready for your personal touches. Don’t miss this opportunity!

Key facts

• 0.26 acre lot
• Garage
• Built 1888

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#694 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Worthington Public School District (town): math 21% / reading 33% proficiency, ranked #271 of 301 in MN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 19 units permitted in Nobles County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Nobles County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% 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 146 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 2.20×
• Total profit: $25,249
• Equity at exit: $33,723

10-year hold

• IRR: 22.2%
• Equity multiple: 4.20×
• Total profit: $67,228
• Equity at exit: $51,972

Cash invested: $21,000 (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 56168

• Active inventory: 2
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $254

Break-even live

Break-even rent $667

Max offer price $75,000

Occupancy floor 69%

Sensitivity live

Price	-10% $297	-5% $275	+0% $254	+5% $233	+10% $212
Rent	-10% $176	-5% $215	+0% $254	+5% $293	+10% $332
Rate	-1.0pp $292	-0.5pp $273	base $254	+0.5pp $235	+1.0pp $215

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $75,000 Active 146 DOM
2. 2026-06-21
   days on market $75,000 Active 145 DOM
3. 2026-06-18
   days on market $75,000 Active 143 DOM
4. 2026-06-17
   days on market $75,000 Active 142 DOM
5. 2026-06-16
   days on market $75,000 Active 141 DOM
6. 2026-06-15
   days on market $75,000 Active 140 DOM
7. 2026-06-13
   days on market $75,000 Active 138 DOM
8. 2026-06-12
   days on market $75,000 Active 137 DOM
9. 2026-06-09
   days on market $75,000 Active 134 DOM
10. 2026-06-08
    days on market $75,000 Active 133 DOM
11. 2026-06-07
    days on market $75,000 Active 132 DOM
12. 2026-06-07
    days on market $75,000 Active 131 DOM
13. 2026-06-04
    days on market $75,000 Active 128 DOM
14. 2026-06-02
    days on market $75,000 Active 127 DOM
15. 2026-06-01
    days on market $75,000 Active 126 DOM
16. 2026-05-31
    days on market $75,000 Active 125 DOM
17. 2026-05-31
    days on market $75,000 Active 124 DOM
18. 2026-03-31
    price $75,000 721-char remark

    Show marketing remark (721 chars)

    2-Bedroom Home with Investment Potential! Whether you're looking for your next investment property or a cozy personal home, this 2-bedroom, 1-bath is full of potential. Featuring durable vinyl siding and a spacious layout, the home offers a bright living space with a bonus screened-in porch—perfect for relaxing on warm summer evenings. Situated on a generously sized yard, there's plenty of room for outdoor entertaining, gardening, or expansion. The property includes both a single-stall attached garage and a detached single-stall garage, offering ample storage or workshop options. Ideal for homeowners or investors alike, this property is ready for your personal touches. Don’t miss this opportunity!

19. 2026-01-26
    status Active 721-char remark

    Show marketing remark (721 chars)

    2-Bedroom Home with Investment Potential! Whether you're looking for your next investment property or a cozy personal home, this 2-bedroom, 1-bath is full of potential. Featuring durable vinyl siding and a spacious layout, the home offers a bright living space with a bonus screened-in porch—perfect for relaxing on warm summer evenings. Situated on a generously sized yard, there's plenty of room for outdoor entertaining, gardening, or expansion. The property includes both a single-stall attached garage and a detached single-stall garage, offering ample storage or workshop options. Ideal for homeowners or investors alike, this property is ready for your personal touches. Don’t miss this opportunity!

20. 2026-01-26
    listed $84,500 721-char remark

    Show marketing remark (721 chars)

    2-Bedroom Home with Investment Potential! Whether you're looking for your next investment property or a cozy personal home, this 2-bedroom, 1-bath is full of potential. Featuring durable vinyl siding and a spacious layout, the home offers a bright living space with a bonus screened-in porch—perfect for relaxing on warm summer evenings. Situated on a generously sized yard, there's plenty of room for outdoor entertaining, gardening, or expansion. The property includes both a single-stall attached garage and a detached single-stall garage, offering ample storage or workshop options. Ideal for homeowners or investors alike, this property is ready for your personal touches. Don’t miss this opportunity!

21. 2026-01-23
    historical 721-char remark

    Show marketing remark (721 chars)

    2-Bedroom Home with Investment Potential! Whether you're looking for your next investment property or a cozy personal home, this 2-bedroom, 1-bath is full of potential. Featuring durable vinyl siding and a spacious layout, the home offers a bright living space with a bonus screened-in porch—perfect for relaxing on warm summer evenings. Situated on a generously sized yard, there's plenty of room for outdoor entertaining, gardening, or expansion. The property includes both a single-stall attached garage and a detached single-stall garage, offering ample storage or workshop options. Ideal for homeowners or investors alike, this property is ready for your personal touches. Don’t miss this opportunity!

22. 2025-11-13
    historical
23. 2025-09-23
    price $89,000
24. 2025-07-09
    price $95,000
25. 2025-06-21
    listed $109,000 Active
26. 2025-06-12
    historical
27. 2022-02-04
    soldstatus $60,000 Sold
28. 2022-02-04
    soldstatus $60,000
29. 2022-01-18
    status Pending
30. 2022-01-05
    historical Contingent - Inspection
31. 2021-12-22
    listed $67,500 Active
32. 2021-12-01
    historical $67,500

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,230 · $102/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 ≥98°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: $11,868
• − Mortgage interest: −$4,201
• − Property taxes: −$1,230
• − Insurance: −$375
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$2,182
• Taxable income: $1,981
• Est. tax owed @ 24.0%: −$475
• After-tax cash flow: $2,576/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: Worthington Public School District
• NCES district ID: 2744160
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $47,522
• Composite: 23.43/100
• National rank: #7888
• State rank: #271 of 301 in MN

Livability — Rushmore

• Score: 62/100
• State rank: #694
• US rank: #16697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rushmore, MN
• Population (ZIP): 833

Population outlook (Nobles County) Hauer SSP2

• Today (2025): 22,693 people
• By 2030: 23,304 · +2.7%
• By 2040: 25,000 · +10.2%
• By 2050: 27,213 · +19.9%
• By 2075: 34,196 · +50.7%
• By 2100: 40,638 · +79.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 16% Two or more races 10%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 6% Portuguese 6% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · Spanish 13% German/W. Germanic 1%

Political lean MEDSL · Nobles

• 2024 margin: Solid R (+35.6) · D 31.5% · R 67.1% · Other 1.4%
• 2008→2024 swing: -34.2pp toward R · 2008: -1.4pp · 2024: -35.6pp
• All cycles: 2024: R+35.6 2020: R+30.6 2016: R+29.9 2012: R+9.3 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+11.1% since first listed

15 events — show timeline

• 2026-03-31 Price Changed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-26 Listed $84,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-09 Price Changed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-21 Listed $109,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-12 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-04 Sold (Public Records) $60,000 Public Records
• 2022-02-04 Sold (MLS) $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-22 Listed $67,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-01 Coming Soon $67,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+15.2%/yr

Latest (2026): $1,230 · +5.5% YoY. Source: county tax records.