160 10th St · Tracy, MN 56175

$115,000

3 bd · 2.0 ba · 1,186 sqft · SingleFamily · 26 Days on market

Built 1947 0.28 ac lot $97/sqft · 9% below area Est $127k · 9% under

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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 +18.7/30.0
• ARV discount +11.6/15.0
• DSCR +5.9/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New roof and new front door in late 2019. This house is just a block away from the grocery store & pharmacy. The backyard is fenced in.

Key facts

• Vinyl siding
• Asphalt shingle roof
• Paver patio

Tags

• VINYL SIDING
• ASPHALT SHINGLE ROOF
• DETACHED 2 CAR GARAGE
• EXTRA CONCRETE PARKING
• PAVER PATIO
• PRIVACY FENCED YARD

Property features AI

Exterior

• Parking: Detached or attached garage with concrete apron and garage door opener; 2-car garage (24 x 26)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One and one-half levels; Accessibility features: Other
• Construction: Frame construction; Block foundation; Foundation dimensions approximately 28 x 22; Roof older than 8 years
• Exterior features: Vinyl exterior; Patio; Medium tree coverage; City street frontage (publicly maintained)

Interior

• Kitchen: Range; Refrigerator; Eat-in layout
• Bedrooms: Three bedrooms (two on main level, one upper level); Additional bonus room (28 x 22)
• Bathrooms: One full bathroom on the main level; One 3/4 bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Daylight/lookout basement windows; Partially finished basement with storage space; Eat-in kitchen; Water softener (owned)
• Laundry & utility: Washer hookup in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $111k (3.2% below list).
• Recommended offer: $111k (3.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#170 in MN, #3,680 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Market conditions: 20 active listings in the ZIP; 91 units permitted in Lyon County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lyon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $64k; list at $115k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,311 (3.2% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.97% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (median comp): $126,609
• List price: $115,000
• Delta: -9.17%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-11,362
• Equity at exit: $17,147

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-533
• Equity at exit: $9,943

Cash invested: $32,200 (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 56175

• Home prices YoY: -22.1%
• Active inventory: 20
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,113 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$114 /mo · $1,370/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $114

Break-even live

Break-even rent $969

Max offer price $115,000

Occupancy floor 85%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-09
   status $115,000 Pending 26 DOM
2. 2026-06-08
   days on market $115,000 Contingent - Inspection 26 DOM
3. 2026-06-07
   days on market $115,000 Contingent - Inspection 25 DOM
4. 2026-06-05
   days on market $115,000 Contingent - Inspection 23 DOM
5. 2026-06-04
   days on market $115,000 Contingent - Inspection 21 DOM
6. 2026-06-02
   days on market $115,000 Contingent - Inspection 20 DOM
7. 2026-06-01
   days on market $115,000 Contingent - Inspection 19 DOM
8. 2026-05-31
   days on market $115,000 Contingent - Inspection 18 DOM
9. 2026-05-31
   days on market $115,000 Contingent - Inspection 17 DOM
10. 2026-05-11
    listed $115,000 Active 993-char remark
11. 2022-11-09
    soldstatus $64,152
12. 2021-09-13
    soldstatus $63,000 Sold 139-char remark

    Show marketing remark (139 chars)

    New roof and new front door in late 2019. This house is just a block away from the grocery store & pharmacy. The backyard is fenced in.

13. 2021-09-13
    soldstatus $63,000

    Show marketing remark (139 chars)

    New roof and new front door in late 2019. This house is just a block away from the grocery store & pharmacy. The backyard is fenced in.

14. 2021-08-17
    status Pending 139-char remark

    Show marketing remark (139 chars)

    New roof and new front door in late 2019. This house is just a block away from the grocery store & pharmacy. The backyard is fenced in.

15. 2021-08-05
    listed $67,000 Active 139-char remark

    Show marketing remark (139 chars)

    New roof and new front door in late 2019. This house is just a block away from the grocery store & pharmacy. The backyard is fenced in.

16. 2020-04-10
    historical
17. 2020-03-11
    listed $60,900 Active
18. 2019-02-02
    historical
19. 2019-02-02
    historical
20. 2012-06-21
    listed $59,900
21. 2012-06-21
    listed $59,900
22. 2010-02-23
    soldstatus $50,700
23. 2010-02-23
    soldstatus $50,700
24. 2010-02-23
    soldstatus $50,700
25. 2009-03-02
    listed $59,000
26. 2009-03-02
    listed $59,000
27. 2000-05-01
    soldstatus $35,000

ⓘ 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: $1,370 · $114/mo
• Projected year-2 tax: $1,370 · $114/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: $13,357
• − Mortgage interest: −$6,442
• − Property taxes: −$1,370
• − Insurance: −$575
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$3,345
• Taxable loss: −$512
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $1,493/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 — Tracy

• Score: 76/100
• State rank: #170
• US rank: #3680

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: Tracy, MN
• Population (ZIP): 2,791

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 25,369 people
• By 2030: 24,890 · -1.9%
• By 2040: 23,599 · -7.0%
• By 2050: 22,383 · -11.8%
• By 2075: 20,076 · -20.9%
• By 2100: 18,901 · -25.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Asian 7% Two or more races 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 16% Romanian 4% English 4%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 5% Other Asian/Pacific 5%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+31.8) · D 33.1% · R 64.9% · Other 2.0%
• 2008→2024 swing: -30.2pp toward R · 2008: -1.6pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+25.9 2016: R+28.3 2012: R+9.2 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.45%
• Current HPI: 167.4911
• 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

+228.6% since first listed

20 events — show timeline

• 2026-06-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-09 Sold (Public Records) $64,152 Public Records
• 2021-09-13 Sold (Public Records) $63,000 Public Records
• 2021-09-13 Sold (MLS) $63,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-05 Listed $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-11 Listed $60,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-21 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-21 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-23 Sold (Public Records) $50,700 Public Records
• 2010-02-23 Sold (MLS) $50,700 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-23 Sold (MLS) $50,700 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-02 Listed $59,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-02 Listed $59,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-05-01 Sold (Public Records) $35,000 Public Records

Property tax history

+1.3%/yr

Latest (2026): $1,370 · +11.9% YoY. Source: county tax records.