418 11th Ave SE · Rochester, MN 55904

$249,900

4 bd · 2.0 ba · 1,424 sqft · MultiFamily public records · 122 Days on market

Built 1915 6,490 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This is a terrific duplex close to public transportation and downtown! The property is fully leased and simple to start or add to your investment portfolio. Unit 2 will be vacant at the end of May, allowing the opportunity to live in one apartment and rent out the other!

Key facts

• 6,490 sq ft lot
• 2 garage spots
• Built 1915

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $703/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.5% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.1%/yr); 149 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).
• At $3,937/mo this rent would consume 61% of the median local household income ($77k/yr) (locally 864% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $149k; list at $250k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.10%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.1% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.65×
• Total profit: $45,509
• Equity at exit: $37,261

10-year hold

• IRR: 24.3%
• Equity multiple: 3.01×
• Total profit: $140,811
• Equity at exit: $21,607

Cash invested: $69,972 (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 55904

• Rents YoY: 2.1%
• Active inventory: 149
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,937 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$290 /mo · $3,486/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$827
• Net cashflow: $1,405

Break-even live

Break-even rent $2,158

Max offer price $249,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,547	-5% $1,476	+0% $1,405	+5% $1,334	+10% $1,264
Rent	-10% $1,094	-5% $1,250	+0% $1,405	+5% $1,561	+10% $1,716
Rate	-1.0pp $1,531	-0.5pp $1,469	base $1,405	+0.5pp $1,340	+1.0pp $1,274

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,936
Total (2 units)			$3,937

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	14d	40	0.50mi
897 16th Ave SE Rochester, MN	4.0	1.5	1200	$1,395	$1.16	14d	1	0.56mi
1902 8 1/2 St SE Unit Andover 1902-D Rochester, MN	3.0	2.0	1100	$1,250	$1.14	44d	1	0.76mi
2016 8 1/2 St SE Unit Andover 2016-A Rochester, MN	3.0	2.0	1100	$1,250	$1.14	44d	1	0.80mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	14d	91	0.83mi
826 21st Ave SE Rochester, MN	4.0	2.0	1250	$1,508	$1.21	14d	11	0.86mi
832 21st Ave SE Unit 21 Rochester, MN	4.0	2.0	1240	$1,495	$1.21	44d	1	0.91mi
207 5th Ave SW Rochester, MN	3.0	2.0	1500	$2,100	$1.40	44d	1	1.07mi
814 7th Ave SW Unit back Rochester, MN	3.0	1.0	1400	$3,000	$2.14	44d	1	1.22mi
619 2nd St NW Unit 2 Rochester, MN	3.0	1.5	1435	$1,575	$1.10	14d	1	1.23mi
1505 Marion Rd SE Rochester, MN	1.0–3.0	1.0–2.0	864	$1,630	$1.89	14d	1	1.35mi

Listing history 31 events

1. 2026-06-19
   days on market $249,900 Active 122 DOM
2. 2026-06-18
   days on market $249,900 Active 121 DOM
3. 2026-06-17
   days on market $249,900 Active 120 DOM
4. 2026-06-16
   days on market $249,900 Active 119 DOM
5. 2026-06-15
   days on market $249,900 Active 118 DOM
6. 2026-06-14
   days on market $249,900 Active 116 DOM
7. 2026-06-13
   days on market $249,900 Active 115 DOM
8. 2026-06-10
   days on market $249,900 Active 113 DOM
9. 2026-06-09
   days on market $249,900 Active 112 DOM
10. 2026-06-08
    days on market $249,900 Active 111 DOM
11. 2026-06-07
    days on market $249,900 Active 110 DOM
12. 2026-06-05
    days on market $249,900 Active 107 DOM
13. 2026-06-03
    days on market $249,900 Active 106 DOM
14. 2026-06-02
    days on market $249,900 Active 105 DOM
15. 2026-06-01
    days on market $249,900 Active 104 DOM
16. 2026-05-31
    days on market $249,900 Active 103 DOM
17. 2026-05-30
    days on market $249,900 Active 102 DOM
18. 2026-05-08
    price $249,900 271-char remark

    Show marketing remark (271 chars)

    This is a terrific duplex close to public transportation and downtown! The property is fully leased and simple to start or add to your investment portfolio. Unit 2 will be vacant at the end of May, allowing the opportunity to live in one apartment and rent out the other!

19. 2026-02-17
    listed $259,900 Active 271-char remark

    Show marketing remark (271 chars)

    This is a terrific duplex close to public transportation and downtown! The property is fully leased and simple to start or add to your investment portfolio. Unit 2 will be vacant at the end of May, allowing the opportunity to live in one apartment and rent out the other!

20. 2016-07-22
    soldstatus $149,000 227-char remark

    Show marketing remark (227 chars)

    Very nice, clean duplex Close to downtown Rochester. Property in good condition with a 1 year lease with both tenants. Good tenants who pay expenses and take care of lawn and shoveling. Turn key property in a quiet location.

21. 2016-07-22
    soldstatus $149,000

    Show marketing remark (227 chars)

    Very nice, clean duplex Close to downtown Rochester. Property in good condition with a 1 year lease with both tenants. Good tenants who pay expenses and take care of lawn and shoveling. Turn key property in a quiet location.

22. 2016-06-21
    listed $149,000 227-char remark

    Show marketing remark (227 chars)

    Very nice, clean duplex Close to downtown Rochester. Property in good condition with a 1 year lease with both tenants. Good tenants who pay expenses and take care of lawn and shoveling. Turn key property in a quiet location.

23. 2015-08-17
    soldstatus $99,000
24. 2013-12-27
    soldstatus $99,000
25. 2013-12-27
    soldstatus $99,000
26. 2012-04-26
    listed $99,900
27. 2012-04-26
    listed $99,900
28. 2007-04-11
    listed $127,900
29. 2007-04-11
    listed $127,900
30. 2000-01-14
    soldstatus $81,900
31. 1991-03-01
    soldstatus $55,000

ⓘ 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: $3,486 · $290/mo
• Projected year-2 tax: $3,486 · $290/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: $47,244
• − Mortgage interest: −$13,998
• − Property taxes: −$3,486
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,780
• − Management: −$3,780
• − Depreciation: −$7,270
• Taxable income: $13,681
• Est. tax owed @ 24.0%: −$3,284
• After-tax cash flow: $13,578/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 29,639
• Household income: $77,016
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 864.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 11% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.04%
• Current HPI: 267.168
• Rent YoY: ▲ 2.10%
• Metro: Rochester, 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

+354.4% since first listed

14 events — show timeline

• 2026-05-08 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-17 Listed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-07-22 Sold (Public Records) $149,000 Public Records
• 2016-07-22 Sold (MLS) $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-21 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-17 Sold (Public Records) $99,000 Public Records
• 2013-12-27 Sold (MLS) $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-27 Sold (MLS) $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-26 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-26 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-11 Listed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-11 Listed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-01-14 Sold (Public Records) $81,900 Public Records
• 1991-03-01 Sold (Public Records) $55,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,486 · +12.2% YoY. Source: county tax records.