1922 4th Ave NW · Austin, MN 55912

$104,900

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 2 Days on market

Built 1955 7,492 sqft lot $97/sqft · 30% below area Est $151k · 30% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• 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

Here's an opportunity to create something great! This 3 bedroom home in a great NW Austin, MN location needs someone with the ability to perform the necessary changes to make it their own.

Key facts

• 7,492 sq ft lot
• Built 1955
• Listed 2 days

Property features AI

Finance

• Other: Above-grade finished area listed as 1,080; Below-grade area listed as 1,080 (total building area 2,160); No pool; No fencing
• Financial info: Property owned free and clear

Exterior

• Parking: No parking
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service — 60 amp
• Home design: Residential property; One level (main level living); Entry facing: not specified
• Construction: Frame construction; Block foundation; Asphalt roof; Built on a block foundation (foundation dimensions approx. 30 x 35)
• Exterior features: Wood exterior; Loafing shed; Irregular lot; Lot dimensions approximately 53.5 x 140; City street frontage; Publicly maintained road

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom on the main level; 1 three-quarter bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Main floor primary bedroom; Three bedrooms on one level
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 9.1% vs local median 4.5% 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: schools C-, 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.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $725 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,900

Questions for the listing agent

1. Built in 1955 — 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: 1.15% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (median comp): $150,931
• List price: $104,900
• Delta: -30.50%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.17×
• Total profit: $4,860
• Equity at exit: $15,641

10-year hold

• IRR: 17.7%
• Equity multiple: 2.81×
• Total profit: $53,203
• Equity at exit: $9,070

Cash invested: $29,372 (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: 188
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$550
• Tax from tax record: −$116 /mo · $1,390/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $243

Break-even live

Break-even rent $898

Max offer price $104,900

Occupancy floor 75%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 14th St NW Apt 6 Austin, MN	2.0	1.0	700	$995	$1.42	43d	1	0.41mi
900 14th St NW Austin, MN	2.0	1.0	518	$1,050	$2.03	43d	18	0.51mi
609 11th St NW Austin, MN	2.0	2.0	925	$1,300	$1.41	43d	1	0.62mi
203 31st St SW Austin, MN	1.0–3.0	1.0–2.0	915	$1,195	$1.31	43d	10	0.94mi
201 31st St SW Unit 35 Austin, MN	2.0	1.0	902	$1,045	$1.16	43d	1	0.97mi
201 31st St SW Unit 1 Austin, MN	3.0	2.0	1096	$1,195	$1.09	43d	1	0.97mi
201 31st St SW Unit 3 Austin, MN	2.0	1.0	902	$795	$0.88	43d	1	0.97mi
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	43d	1	1.18mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,514	$2.56	43d	96	1.26mi
202 11th Ave NW Unit 602 Austin, MN	2.0	1.0	1000	$950	$0.95	43d	1	1.34mi
1310 21st Ave NW Austin, MN	2.0	1.0	685	$1,467	$2.14	43d	5	1.41mi

Listing history 2 events

1. 2026-05-03
   status Pending 188-char remark
2. 2026-05-01
   listed $104,900 Active 188-char remark

ⓘ 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: $1,390 · $116/mo
• Projected year-2 tax: $1,390 · $116/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 · 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: $14,471
• − Mortgage interest: −$5,876
• − Property taxes: −$1,390
• − Insurance: −$524
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$3,052
• Taxable income: $1,313
• Est. tax owed @ 24.0%: −$315
• After-tax cash flow: $2,601/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

+1.0% since first listed

4 events — show timeline

• 2026-06-03 Sold (Public Records) $106,000 Public Records
• 2026-05-29 Sold (MLS) $106,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $104,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $1,390 · +3.4% YoY. Source: county tax records.