125 N 2nd St · Eagle Lake, MN 56024

$99,000

2 bd · 1.0 ba · 560 sqft · SingleFamily public records · 13 Days on market

Built 1905 0.32 ac 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property being sold as-is, great opportunity to build on a large lot! Property includes a detached 3 stall garage. Call today for a tour!

Key facts

• Large lot
• 0.32 acre lot
• 3 garage spots

Tags

• LARGE LOT
• DETACHED TRIPLE GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).

Location & tenants

• Location reads 67/100 on livability (#450 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, schools A; Watch: amenities F, commute F, health & safety 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: 31 active listings in the ZIP; 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 $684 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $45k; list at $99k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1905 — 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 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?
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: 1.40% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.10%
• DSCR: 1.89
• GRM: 5.9

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: 12.3%
• Equity multiple: 1.49×
• Total profit: $13,519
• Equity at exit: $14,761

10-year hold

• IRR: 21.2%
• Equity multiple: 2.80×
• Total profit: $49,806
• Equity at exit: $8,560

Cash invested: $27,720 (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 56024

• Home prices YoY: -25.7%
• Active inventory: 31
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,388 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $464

Break-even live

Break-even rent $800

Max offer price $99,000

Occupancy floor 62%

Sensitivity live

Price	-10% $520	-5% $492	+0% $464	+5% $436	+10% $408
Rent	-10% $355	-5% $409	+0% $464	+5% $519	+10% $574
Rate	-1.0pp $514	-0.5pp $489	base $464	+0.5pp $439	+1.0pp $413

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-20
   status Pending

   Show marketing remark (137 chars)

   Property being sold as-is, great opportunity to build on a large lot! Property includes a detached 3 stall garage. Call today for a tour!

2. 2026-04-20
   status Pending 137-char remark

   Show marketing remark (137 chars)

   Property being sold as-is, great opportunity to build on a large lot! Property includes a detached 3 stall garage. Call today for a tour!

3. 2026-04-07
   listed $99,000 Active 137-char remark

   Show marketing remark (137 chars)

   Property being sold as-is, great opportunity to build on a large lot! Property includes a detached 3 stall garage. Call today for a tour!

4. 2026-04-07
   listed $99,000 Active

   Show marketing remark (137 chars)

   Property being sold as-is, great opportunity to build on a large lot! Property includes a detached 3 stall garage. Call today for a tour!

5. 2025-12-15
   soldstatus $45,000
6. 2025-09-30
   soldstatus $45,000 Sold 445-char remark

   Show marketing remark (445 chars)

   Located on a quiet street in the desired city of Eagle Lake; an investor or builder special! This property offers a great opportunity to build new in a well developed neighborhood close to schools and minutes away from Mankato. Use the large 3 stall garage as a starting point for a single family home on a nice sized lot! Don't miss out on this prime investment opportunity! Property is being sold as is, no repairs or credits will be provided.

7. 2025-09-07
   status Pending 445-char remark

   Show marketing remark (445 chars)

   Located on a quiet street in the desired city of Eagle Lake; an investor or builder special! This property offers a great opportunity to build new in a well developed neighborhood close to schools and minutes away from Mankato. Use the large 3 stall garage as a starting point for a single family home on a nice sized lot! Don't miss out on this prime investment opportunity! Property is being sold as is, no repairs or credits will be provided.

8. 2025-09-04
   listed $45,000 Active 445-char remark

   Show marketing remark (445 chars)

   Located on a quiet street in the desired city of Eagle Lake; an investor or builder special! This property offers a great opportunity to build new in a well developed neighborhood close to schools and minutes away from Mankato. Use the large 3 stall garage as a starting point for a single family home on a nice sized lot! Don't miss out on this prime investment opportunity! Property is being sold as is, no repairs or credits will be provided.

9. 1985-12-01
   soldstatus $22,000

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$124/yr (+$10/mo · 14.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,654
• − Mortgage interest: −$5,546
• − Property taxes: −$860
• − Insurance: −$495
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$2,880
• Taxable income: $4,209
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $4,562/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 — Eagle Lake

• Score: 67/100
• State rank: #450
• US rank: #10712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eagle Lake, MN
• Population (ZIP): 3,595

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 (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 12% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4% Tagalog/Filipino 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: ▼ -70.00%
• Current HPI: 202.5905
• 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

+350.0% since first listed

9 events — show timeline

• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Pending — RASM
• 2026-04-07 Listed $99,000 RASM
• 2026-04-07 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-15 Sold (Public Records) $45,000 Public Records
• 2025-09-30 Sold (MLS) $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-04 Listed $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 1985-12-01 Sold (Public Records) $22,000 Public Records

Property tax history

-6.2%/yr

Latest (2025): $860 · -7.9% YoY. Source: county tax records.