313 Minnesota Ave W · Gilbert, MN 55741

$50,000

2 bd · 2.0 ba · 999 sqft · SingleFamily public records · 64 Days on market

Built 1910 6,970 sqft lot

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Please allow some notice for showings as someone stays from time to time. Utilities are shut off for the meantime.

Key facts

• Tool shed
• Bathroom remodel
• Lot size larger

Tags

• KITCHEN REMODEL
• BATHROOM REMODEL
• JETTED TUB
• DETACHED SINGLE STALL GARAGE
• TOOL SHED
• LOT SIZE LARGER

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Shingle roof; Built on block foundation
• Exterior features: Deck; No fencing

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Heating & cooling: Natural gas radiant heating
• Interior features: Dishwasher, Electric range, Microwave, Refrigerator; Gas water heater; Full block basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($894 rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#704 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools D-.
• Market conditions: 26 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $50k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1910 — 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 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?
6. Crime grade is F 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: 1.79% ✓
• Cap rate: 15.87%
• Cash-on-cash: 34.22%
• DSCR: 2.52
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $125,874
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 E Indiana Ave	0.31mi	2/1.0	920 (-8%)	9mo	$40,000	$43	61
112 Nebraska Ave Ave E	0.31mi	3/1.0 (+1)	950 (-5%)	12mo	$120,000	$126	58
106 New York Ave W	0.42mi	2/1.0	1,047 (+5%)	13mo	$95,000	$91	58
112 E Nebraska Ave	0.39mi	3/1.0 (+1)	950 (-5%)	12mo	$120,000	$126	54

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.5%
• Equity multiple: 4.76×
• Total profit: $52,649
• Equity at exit: $45,044

10-year hold

• IRR: 44.1%
• Equity multiple: 10.64×
• Total profit: $135,026
• Equity at exit: $97,139

Cash invested: $14,000 (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 55741

• Home prices YoY: 23.4%
• Active inventory: 26
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $894 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$24 /mo · $292/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $399

Break-even live

Break-even rent $389

Max offer price $50,000

Occupancy floor 50%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $50,000 Active 64 DOM
2. 2026-06-18
   days on market $50,000 Active 63 DOM
3. 2026-06-17
   days on market $50,000 Active 62 DOM
4. 2026-06-16
   days on market $50,000 Active 61 DOM
5. 2026-06-15
   days on market $50,000 Active 60 DOM
6. 2026-06-14
   days on market $50,000 Active 58 DOM
7. 2026-06-13
   days on market $50,000 Active 57 DOM
8. 2026-06-10
   days on market $50,000 Active 55 DOM
9. 2026-06-09
   days on market $50,000 Active 54 DOM
10. 2026-06-08
    days on market $50,000 Active 53 DOM
11. 2026-06-07
    days on market $50,000 Active 52 DOM
12. 2026-06-05
    days on market $50,000 Active 49 DOM
13. 2026-06-03
    days on market $50,000 Active 48 DOM
14. 2026-06-02
    days on market $50,000 Active 47 DOM
15. 2026-06-01
    days on market $50,000 Active 46 DOM
16. 2026-05-31
    days on market $50,000 Active 45 DOM
17. 2026-05-30
    days on market $50,000 Active 44 DOM
18. 2026-05-04
    price $60,000 114-char remark

    Show marketing remark (114 chars)

    Please allow some notice for showings as someone stays from time to time. Utilities are shut off for the meantime.

19. 2026-05-04
    price $60,000

    Show marketing remark (114 chars)

    Please allow some notice for showings as someone stays from time to time. Utilities are shut off for the meantime.

20. 2026-04-17
    listed $72,100 Active 114-char remark

    Show marketing remark (114 chars)

    Please allow some notice for showings as someone stays from time to time. Utilities are shut off for the meantime.

21. 2026-04-16
    listed $72,100 Active
22. 1999-03-17
    soldstatus $17,500

ⓘ 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: $292 · $24/mo
• Projected year-2 tax: $426 · $36/mo
• Expected delta: +$134/yr (+$11/mo · 45.9%)

ⓘ 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 · 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,733
• − Mortgage interest: −$2,801
• − Property taxes: −$292
• − Insurance: −$250
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$1,455
• Taxable income: $4,219
• Est. tax owed @ 24.0%: −$1,012
• After-tax cash flow: $3,778/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)

No district data.

Livability — Gilbert

• Score: 62/100
• State rank: #704
• US rank: #16952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, MN
• Population (ZIP): 2,933

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 3%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 1%

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: ▲ 58.57%
• Current HPI: 308.63
• 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

+242.9% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $60,000 LSAR
• 2026-05-04 Price Changed $60,000 RAOR
• 2026-04-17 Listed $72,100 LSAR
• 2026-04-16 Listed $72,100 RAOR
• 1999-03-17 Sold (Public Records) $17,500 Public Records

Property tax history

-8.2%/yr

Latest (2025): $292 · +27.0% YoY. Source: county tax records.