250 2nd St · Dassel, MN 55325

$215,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 15 Days on market

Built 1900 0.29 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Schools +5.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom home offers informal dining, spacious kitchen with Center Island and breakfast counter, laminate flooring, deck, sauna and extra large two stall garage. Call for more details.

Key facts

• Built-in sauna
• Rear addition
• Overhead storage

Tags

• DETACHED GARAGE
• OVERHEAD STORAGE
• REAR ADDITION
• BUILT-IN SAUNA
• FENCED BACKYARD
• ESTABLISHED GARDEN AREA

Property features AI

Exterior

• Parking: 2-car insulated, heated garage with concrete floor, garage door opener and storage (approx. 27'3" x 29'9")
• Utilities: City water connected; City sewer connected; Natural gas fuel
• Home design: Residential property; One and one-half stories; Main entry on main level
• Construction: Block foundation; Block basement with storage space
• Exterior features: Covered patio/porch, deck, and front porch; Wood exterior; Partial wood fencing; Medium tree coverage on the lot; Lot dimensions approximately 100 x 125 (0.291 acres); City street frontage with paved, publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Kitchen center island; Eat-in kitchen
• Bedrooms: 3 bedrooms (one on the main level, two on the upper level)
• Bathrooms: 1 full bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Sauna; Main floor primary bedroom; Eat-in kitchen / informal dining area; Kitchen center island; Kitchen window; Washer/Dryer hookup; Main floor bedroom
• Laundry & utility: Washer and dryer included (washer, dryer); Laundry on main level and additional 'other' laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (40.1% below list).
• Recommended offer: $129k (40.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#400 in MN) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Dassel-Cokato Public School District (rural): math 65% / reading 70% proficiency, ranked #16 of 301 in MN (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 73 units permitted in Meeker County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Meeker County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $58k; list at $215k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $128,753 (40.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.60% ✗
• Cap rate: 4.28%
• Cash-on-cash: -7.18%
• DSCR: 0.68
• GRM: 13.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -28.8%
• Equity multiple: 0.04×
• Total profit: $-57,821
• Equity at exit: $32,057

10-year hold

• IRR: -28.8%
• Equity multiple: -0.33×
• Total profit: $-80,072
• Equity at exit: $18,589

Cash invested: $60,200 (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 55325

• Home prices YoY: -19.4%
• Active inventory: 37
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-360

Break-even live

Break-even rent $1,743

Max offer price $151,390

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
451 Erickson Way Dassel, MN	2.0	1.0	806	$1,290	$1.60	2d	1	0.43mi
451 Erickson Way Unit 104 Dassel, MN	2.0	1.0	806	$1,285	$1.59	10d	1	0.44mi

Listing history 12 events

1. 2026-06-18
   days on market $215,000 Active 15 DOM
2. 2026-06-17
   days on market $215,000 Active 14 DOM
3. 2026-06-16
   days on market $215,000 Active 13 DOM
4. 2026-06-15
   pricedays on market $215,000 Active 12 DOM
5. 2026-06-13
   days on market $225,000 Active 10 DOM
6. 2026-06-12
   days on market $225,000 Active 9 DOM
7. 2026-06-09
   days on market $225,000 Active 6 DOM
8. 2026-06-08
   days on market $225,000 Active 5 DOM
9. 2026-06-07
   days on market $225,000 Active 4 DOM
10. 2026-06-07
    days on market $225,000 Active 3 DOM
11. 2026-06-04
    remarks 699-char remark
12. 2026-06-04
    listed $225,000 Active 1 DOM

ⓘ 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: $1,922 · $160/mo
• Projected year-2 tax: $2,165 · $180/mo
• Expected delta: +$243/yr (+$20/mo · 12.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,450
• − Mortgage interest: −$12,043
• − Property taxes: −$1,922
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$6,255
• Taxable loss: −$8,317
• Est. tax savings @ 24.0%: +$1,996
• After-tax cash flow: $-2,325/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: Dassel-Cokato Public School District
• NCES district ID: 2710060
• Math proficiency: 65% ▼ -6.00%
• Reading proficiency: 70% ▼ -3.00%
• Median HH income: $58,887
• Composite: 58.13/100
• National rank: #1026
• State rank: #16 of 301 in MN

Livability — Dassel

• Score: 68/100
• State rank: #400
• US rank: #9403

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dassel, MN
• City population: 4,682
• Population (ZIP): 4,682

Population outlook (Meeker County) Hauer SSP2

• Today (2025): 22,292 people
• By 2030: 21,631 · -3.0%
• By 2040: 20,070 · -10.0%
• By 2050: 18,413 · -17.4%
• By 2075: 15,145 · -32.1%
• By 2100: 11,698 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 12% Romanian 4% Scottish 3%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Meeker

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -32.0pp toward R · 2008: -10.8pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.6 2016: R+40.3 2012: R+16.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.08%
• Current HPI: 266.7732
• 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

+309.8% since first listed

5 events — show timeline

• 2026-06-03 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-09-27 Sold (Public Records) $58,500 Public Records
• 2012-09-17 Sold (MLS) $58,500 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-01-02 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.9%/yr

Latest (2025): $1,922 · +8.2% YoY. Source: county tax records.