2018 7th Ave · Mankato, MN 56001

$154,900

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 12 Days on market

Built 1906 7,013 sqft lot Est $190k · 18% 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy affordable one-level living in a quiet Mankato neighborhood. This 2-bedroom home features durable architectural roofing shingles, low-maintenance vinyl siding, and energy-efficient vinyl windows. Convenient main-level laundry adds to the home's ease of living, while the forced-air natural gas furnace and central air conditioning provide year-round comfort. Don't miss this excellent opportunity—schedule your private showing today!

Key facts

• One-level living
• Main-level laundry
• 7,013 sq ft lot

Tags

• ONE-LEVEL LIVING
• LOW-MAINTENANCE VINYL SIDING
• ENERGY-EFFICIENT VINYL WINDOWS
• MAIN-LEVEL LAUNDRY
• FORCED-AIR NATURAL GAS FURNACE
• CENTRAL AIR CONDITIONING

Property features AI

Exterior

• Parking: Detached or attached 1-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One-level home; Slab foundation; Asphalt roof
• Construction: Slab foundation; Asphalt roof
• Exterior features: Vinyl exterior siding; Privacy vinyl fencing

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Informal dining area; Main floor full bath; No basement
• Laundry & utility: Washer and Dryer on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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 $141k (9.3% below list).
• Recommended offer: $141k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 352 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 269 units permitted in Blue Earth County in 2024 (154 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 $5k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,548 (9.3% below list)

Questions for the listing agent

1. Built in 1906 — 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. Schools are B-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?
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: 0.91% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $190,008
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1609 4th Ave	0.46mi	2/1.0	792 (-2%)	1mo	$185,000	$234	74
1604 N 5th Ave	0.43mi	1/1.0 (-1)	756 (-7%)	11mo	$117,935	$156	55

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-8,062
• Equity at exit: $23,096

10-year hold

• IRR: 9.6%
• Equity multiple: 1.90×
• Total profit: $39,029
• Equity at exit: $13,393

Cash invested: $43,372 (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 56001

• Rents YoY: 8.6%
• Active inventory: 352
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,405 high
• Mortgage (P&I): −$812
• Tax from tax record: −$82 /mo · $982/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $152

Break-even live

Break-even rent $1,214

Max offer price $154,900

Occupancy floor 84%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Range St Unit 128 North Mankato, MN	2.0	2.0	960	$1,545	$1.61	43d	1	0.54mi
1247 Range St Unit 116 Mankato, MN	2.0	1.0	1115	$1,500	$1.35	43d	1	0.56mi
1247 Range St Unit 429 Mankato, MN	1.0	1.0	758	$1,495	$1.97	43d	1	0.56mi
614 N Riverfront Dr Unit 624 1/2 Mankato, MN	2.0	1.0	900	$1,000	$1.11	43d	1	1.01mi
320 E Lafayette St Mankato, MN	2.0	1.0	1122	$1,545	$1.38	43d	1	1.03mi
235 Belgrade Ave Unit 201 North Mankato, MN	2.0	1.0	900	$1,550	$1.72	43d	1	1.20mi
308 N Broad St Apt 2 Mankato, MN	1.0	1.0	568	$895	$1.58	43d	1	1.29mi
325 E Washington St Unit 3 Mankato, MN	2.0	1.0	795	$1,025	$1.29	43d	1	1.32mi
405 N 5th St Mankato, MN	1.0–3.0	1.0–2.0	780	$1,275	$1.63	43d	16	1.41mi

Listing history 11 events

1. 2026-06-17
   status $154,900 Pending 12 DOM
2. 2026-06-16
   days on market $154,900 Contingent - Inspection 12 DOM
3. 2026-06-15
   days on market $154,900 Contingent - Inspection 11 DOM
4. 2026-06-14
   days on market $154,900 Contingent - Inspection 9 DOM
5. 2026-06-13
   statusdays on market $154,900 Contingent - Inspection 8 DOM
6. 2026-06-10
   days on market $154,900 Active 6 DOM
7. 2026-06-09
   days on market $154,900 Active 5 DOM
8. 2026-06-08
   days on market $154,900 Active 4 DOM
9. 2026-06-07
   days on market $154,900 Active 3 DOM
10. 2026-06-05
    remarks 439-char remark
11. 2026-06-05
    listed $154,900 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: $982 · $82/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$376/yr (+$31/mo · 38.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,866
• − Mortgage interest: −$8,677
• − Property taxes: −$982
• − Insurance: −$774
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$4,506
• Taxable loss: −$772
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $2,005/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

1 event — show timeline

• 2026-06-04 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2025): $982 · -19.8% YoY. Source: county tax records.