147 SW 3rd Ave · Winnebago, MN 56098

$190,000

3 bd · 1.0 ba · 1,415 sqft · SingleFamily public records · 6 Days on market

Built 1956 10,454 sqft lot

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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 +14.3/30.0
• Appreciation +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Meticulously maintained 2-3 bedroom, fully renovated home. Just inside the foyer, You'll be instantly greeted with the charming, spacious living room featuring a picture window and recessed lighting. The inviting eat-in kitchen has beautiful laminate flooring, peninsula, wood cabinetry, RO system, appliance garage, and lazy susan, as well as access to the back yard through the patio doors. There are hardwood floors beneath the carpet in the living and main floor bedrooms. The 2nd floor offers an incredible bonus room - or bedroom - with abundant storage. The finished basement has a large family room, a laundry/storage/mechanical room, an exercise room and a spacious bathroom with a cozy . .and inviting . .. Whirlpool/Jacuzzi. The serene back yard provides a landscaped patio which leads you to an oversized, heated garage/workshop w/ kennel pet door to outside kennel. This home exudes character and charm that make it a "must see"!

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1956

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; Concrete driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Patio; Corner lot; Publicly maintained road access

Interior

• Kitchen: Dishwasher; Microwave; Cooktop; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Natural gas forced-air heating
• Interior features: Eat-in kitchen; Breakfast bar; Window coverings; Partially finished full basement with sump pump
• Laundry & utility: Electric water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $36 ($435/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (15.8% below list).
• Recommended offer: $160k (15.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#162 in MN, #3,494 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Blue Earth Area Public School (town): math 29% / reading 44% proficiency, ranked #245 of 301 in MN (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (9.4% 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 (9.4% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $119k; list at $190k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000 (15.8% below list)

Questions for the listing agent

1. Built in 1956 — 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. 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?
4. 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.
5. 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.
6. 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: 6.52%
• Cash-on-cash: 0.82%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $121,690
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 SW 1st Ave Ave	0.17mi	3/1.0	1,600 (+13%)	7mo	$165,000	$103	64
54 SE 6th Ave	0.40mi	2/1.0 (-1)	1,256 (-11%)	13mo	$93,000	$74	46
310 NW 3rd Avenue Ave	0.44mi	4/1.5 (+1)	1,594 (+13%)	18mo	$137,000	$86	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.36% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.83×
• Total profit: $97,450
• Equity at exit: $162,325

10-year hold

• IRR: 21.0%
• Equity multiple: 6.32×
• Total profit: $283,192
• Equity at exit: $341,059

Cash invested: $53,200 (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 56098

• Home prices YoY: 3.4%
• Active inventory: 10
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$152 /mo · $1,826/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $36

Break-even live

Break-even rent $1,554

Max offer price $190,000

Occupancy floor 93%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
233 4th St NW Winnebago, MN	4.0	2.0	1500	$1,600	$1.07	43d	1	0.45mi

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-05-14
   listed $190,000 Active
3. 2026-05-09
   historical $190,000
4. 2016-07-01
   soldstatus $119,000
5. 2016-06-30
   soldstatus $119,000 953-char remark

   Show marketing remark (953 chars)

   Meticulously maintained 2-3 bedroom, fully renovated home. Just inside the foyer, You'll be instantly greeted with the charming, spacious living room featuring a picture window and recessed lighting. The inviting eat-in kitchen has beautiful laminate flooring, peninsula, wood cabinetry, RO system, appliance garage, and lazy susan, as well as access to the back yard through the patio doors. There are hardwood floors beneath the carpet in the living and main floor bedrooms. The 2nd floor offers an incredible bonus room - or bedroom - with abundant storage. The finished basement has a large family room, a laundry/storage/mechanical room, an exercise room and a spacious bathroom with a cozy . .and inviting . .. Whirlpool/Jacuzzi. The serene back yard provides a landscaped patio which leads you to an oversized, heated garage/workshop w/ kennel pet door to outside kennel. This home exudes character and charm that make it a "must see"!

6. 2016-04-14
   listed $119,900 953-char remark

   Show marketing remark (953 chars)

   Meticulously maintained 2-3 bedroom, fully renovated home. Just inside the foyer, You'll be instantly greeted with the charming, spacious living room featuring a picture window and recessed lighting. The inviting eat-in kitchen has beautiful laminate flooring, peninsula, wood cabinetry, RO system, appliance garage, and lazy susan, as well as access to the back yard through the patio doors. There are hardwood floors beneath the carpet in the living and main floor bedrooms. The 2nd floor offers an incredible bonus room - or bedroom - with abundant storage. The finished basement has a large family room, a laundry/storage/mechanical room, an exercise room and a spacious bathroom with a cozy . .and inviting . .. Whirlpool/Jacuzzi. The serene back yard provides a landscaped patio which leads you to an oversized, heated garage/workshop w/ kennel pet door to outside kennel. This home exudes character and charm that make it a "must see"!

7. 1994-08-18
   soldstatus $24,000

ⓘ 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: $1,826 · $152/mo
• Projected year-2 tax: $1,977 · $165/mo
• Expected delta: +$151/yr (+$13/mo · 8.3%)

ⓘ 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 · 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: $19,200
• − Mortgage interest: −$10,643
• − Property taxes: −$1,826
• − Insurance: −$950
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,527
• Taxable loss: −$2,818
• Est. tax savings @ 24.0%: +$676
• After-tax cash flow: $1,112/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: Blue Earth Area Public School
• NCES district ID: 2700130
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $44,434
• Composite: 31.0/100
• National rank: #6095
• State rank: #245 of 301 in MN

Livability — Winnebago

• Score: 76/100
• State rank: #162
• US rank: #3494

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Winnebago, MN
• Population (ZIP): 1,946

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 14% Two or more races 11%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 12% Slovak 3% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 90% English-only · Spanish 9%

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: ▲ 9.36%
• Current HPI: 281.463
• 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

+691.7% since first listed

7 events — show timeline

• 2026-05-20 Pending — RASM
• 2026-05-14 Listed $190,000 RASM
• 2026-05-09 Coming Soon $190,000 RASM
• 2016-07-01 Sold (Public Records) $119,000 Public Records
• 2016-06-30 Sold (MLS) $119,000 RASM
• 2016-04-14 Listed $119,900 RASM
• 1994-08-18 Sold (Public Records) $24,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $1,826 · -10.8% YoY. Source: county tax records.