907 2nd Ave NW · Faribault, MN 55021

$129,000

2 bd · 1.5 ba · 1,360 sqft · SingleFamily public records · 38 Days on market

Built 1900 2,700 sqft lot $95/sqft · 28% below area Est $182k · 29% 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

Key facts

• Back yard
• Front porch
• Double pane windows

Tags

• DOUBLE PANE WINDOWS
• FRONT PORCH
• BACK YARD
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO PARK
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Finance

• Financial info: Conventional financing available; Other annual assessment: $467; Annual tax with assessments: $1,838 (tax year 2026)

Exterior

• Parking: Gravel parking; Shared driveway
• Utilities: City water connected; City sewer connected; Natural gas; Electric service by Xcel Energy
• Home design: Residential property; One and one-half stories; Main entry on the main level
• Construction: Frame construction; Roof over 8 years old; Basement: crawl space (unfinished)
• Exterior features: Front porch; Vinyl exterior; City-maintained street frontage; Lot approximately 33' x 82.5' (0.062 acres)

Interior

• Kitchen: Range; Refrigerator; Dishwasher; Gas water heater
• Bedrooms: 3 bedrooms (two upper-level, one main-level)
• Bathrooms: 1 full bathroom on the main level; 1 quarter bathroom on the upper level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished crawl space basement with owner access; Water softener (rented)
• Laundry & utility: Upper-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.1% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 165 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 93 units permitted in Rice County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 30y ago; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $181,774
• List price: $129,000
• Delta: -29.03%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,050
• Equity at exit: $19,234

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $33,482
• Equity at exit: $11,154

Cash invested: $36,120 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 165
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$676
• Tax from tax record: −$113 /mo · $1,358/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $376

Break-even live

Break-even rent $1,068

Max offer price $129,000

Occupancy floor 71%

Sensitivity live

Price	-10% $449	-5% $413	+0% $376	+5% $340	+10% $303
Rent	-10% $254	-5% $315	+0% $376	+5% $437	+10% $498
Rate	-1.0pp $441	-0.5pp $409	base $376	+0.5pp $343	+1.0pp $309

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1125 Central Ave N Apt 3 Faribault, MN	2.0	1.0	1200	$1,350	$1.12	44d	1	0.23mi
417 1st Ave NW Unit 1 Faribault, MN	2.0	1.5	1500	$1,450	$0.97	44d	1	0.40mi
417 1st Ave NW Unit 2 Faribault, MN	3.0	1.0	1500	$1,575	$1.05	44d	1	0.40mi
31 3rd St NE Unit R31-301 Faribault, MN	2.0	1.0	1400	$1,900	$1.36	44d	1	0.56mi
429 8th Ave NW Unit FA-103 Faribault, MN	2.0	1.0	896	$1,450	$1.62	44d	1	0.63mi
429 8th Ave NW Unit FA-404 Faribault, MN	2.0	2.0	1070	$1,675	$1.57	44d	1	0.63mi
429 8th Ave NW Unit FA-403 Faribault, MN	2.0	1.0	896	$1,575	$1.76	44d	1	0.63mi
429 8th Ave NW Unit FA-304 Faribault, MN	2.0	2.0	1070	$1,625	$1.52	44d	1	0.63mi
429 8th Ave NW Unit FA-104 Faribault, MN	2.0	2.0	1070	$1,500	$1.40	44d	1	0.63mi
728 Willow St Faribault, MN	3.0	1.0	1200	$1,995	$1.66	44d	1	1.22mi
1321 1st St NE Unit 2 Faribault, MN	2.0	1.0	900	$1,350	$1.50	44d	1	1.42mi

Listing history 38 events

1. 2026-06-19
   days on market $129,000 Active 38 DOM
2. 2026-06-18
   days on market $129,000 Active 37 DOM
3. 2026-06-17
   days on market $129,000 Active 36 DOM
4. 2026-06-16
   days on market $129,000 Active 35 DOM
5. 2026-06-15
   days on market $129,000 Active 34 DOM
6. 2026-06-14
   days on market $129,000 Active 32 DOM
7. 2026-06-12
   pricedays on market $129,000 Active 31 DOM
8. 2026-06-09
   days on market $136,900 Active 28 DOM
9. 2026-06-09
   price $136,900 Active 27 DOM
10. 2026-06-08
    days on market $139,900 Active 27 DOM
11. 2026-06-07
    days on market $139,900 Active 26 DOM
12. 2026-06-05
    days on market $139,900 Active 23 DOM
13. 2026-06-03
    days on market $139,900 Active 22 DOM
14. 2026-06-02
    days on market $139,900 Active 21 DOM
15. 2026-06-01
    days on market $139,900 Active 20 DOM
16. 2026-05-31
    days on market $139,900 Active 19 DOM
17. 2026-05-30
    days on market $139,900 Active 18 DOM
18. 2026-05-12
    listed $149,900 Active 436-char remark
19. 2018-10-19
    soldstatus $100,000 Sold 173-char remark

    Show marketing remark (173 chars)

    Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

20. 2018-10-19
    soldstatus $100,000

    Show marketing remark (173 chars)

    Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

21. 2018-09-12
    status Pending 173-char remark

    Show marketing remark (173 chars)

    Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

22. 2018-08-27
    historical Contingent - Inspection 173-char remark

    Show marketing remark (173 chars)

    Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

23. 2018-07-09
    listed $104,900 Active 173-char remark

    Show marketing remark (173 chars)

    Welcome home to this very cozy home with 3 bedrooms, back deck and a front porch. Main floor bedroom with 2 more bedrooms upstairs and an office. Don't miss out on this one!

24. 2017-01-10
    soldstatus $40,000 Sold

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

25. 2016-11-22
    status Pending

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

26. 2016-11-17
    price $44,200

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

27. 2016-09-30
    price $51,900

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

28. 2016-09-06
    price $55,000

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

29. 2016-08-14
    listed $58,500 Active

    Show marketing remark (115 chars)

    2 bedroom home with rear deck and open front porch. Centrally located in great Faribault location! Great potential.

30. 2013-09-21
    historical
31. 2013-03-21
    listed $72,000
32. 2008-03-06
    historical
33. 2007-10-31
    listed $109,900
34. 2005-08-01
    historical
35. 2005-01-31
    listed $119,900
36. 1996-06-28
    soldstatus $60,000
37. 1996-04-23
    historical
38. 1996-03-20
    listed $64,500

ⓘ 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: $1,358 · $113/mo
• Projected year-2 tax: $1,401 · $117/mo
• Expected delta: +$43/yr (+$4/mo · 3.2%)

ⓘ 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 ≥99°F today · 15 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: $18,525
• − Mortgage interest: −$7,226
• − Property taxes: −$1,358
• − Insurance: −$645
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$3,753
• Taxable income: $2,580
• Est. tax owed @ 24.0%: −$619
• After-tax cash flow: $3,895/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

Amenities C+ 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: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, 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

+100.0% since first listed

24 events — show timeline

• 2026-06-12 Price Changed $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-08 Price Changed $136,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-19 Sold (Public Records) $100,000 Public Records
• 2018-10-19 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-09 Listed $104,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-01-10 Sold (MLS) $40,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-17 Price Changed $44,200 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-30 Price Changed $51,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-06 Price Changed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-14 Listed $58,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-03-21 Listed $72,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-31 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-31 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 1996-06-28 Sold (MLS) $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 1996-04-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1996-03-20 Listed $64,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2025): $1,358 · +1.8% YoY. Source: county tax records.