306 16th St S · Benson, MN 56215

$169,900

4 bd · 2.0 ba · 1,668 sqft · SingleFamily · 83 Days on market

Built 1910 7,000 sqft lot $102/sqft · 32% below area Est $251k · 32% under ↓ 5% since listing

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled, Refreshed and Ready for you to move right in! This Charming Turn of the Century home is a must see with it's 9 foot ceilings throughout the home. Updated Stainless steel appliances, furnace and electrical. Fresh paint, new lighting and fixtures bring a modern look to the home that awaits you to add your pop of color. For those looking for main floor living - there is a large bedroom and a full bath and laundry all located on the main level. Both the upper and main level bathrooms have been updated with new toilets and vanities as well as lighting. The front and back porch have been replaced with treated lumber for years of relaxing in the quiet neighborhood. Call today to see this gem for yourself- pictures do not do justice to this charmer!!

Key facts

• Remodeled
• Updated bathrooms
• Main floor living

Tags

• REMODELED
• UPDATED BATHROOMS
• REPLACED FRONT AND BACK PORCH
• MAIN FLOOR LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $149k (12.5% below list).
• Recommended offer: $149k (12.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#189 in MN, #4,068 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Benson Public School District (town): math 37% / reading 41% proficiency, ranked #228 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 15 units permitted in Swift County in 2024 (0 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.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,641 (12.5% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (median comp): $250,800
• List price: $169,900
• Delta: -32.26%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-19,109
• Equity at exit: $25,333

10-year hold

• IRR: -1.8%
• Equity multiple: 0.87×
• Total profit: $-5,960
• Equity at exit: $14,690

Cash invested: $47,572 (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 56215

• Home prices YoY: -18.0%
• Active inventory: 32
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,486 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $133

Break-even live

Break-even rent $1,318

Max offer price $169,900

Occupancy floor 86%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-01
   status $169,900 Pending 83 DOM
2. 2026-05-31
   days on market $169,900 Contingent - Inspection 83 DOM
3. 2026-05-31
   days on market $169,900 Contingent - Inspection 82 DOM
4. 2026-05-14
   price $169,900 770-char remark

   Show marketing remark (770 chars)

   Remodeled, Refreshed and Ready for you to move right in! This Charming Turn of the Century home is a must see with it's 9 foot ceilings throughout the home. Updated Stainless steel appliances, furnace and electrical. Fresh paint, new lighting and fixtures bring a modern look to the home that awaits you to add your pop of color. For those looking for main floor living - there is a large bedroom and a full bath and laundry all located on the main level. Both the upper and main level bathrooms have been updated with new toilets and vanities as well as lighting. The front and back porch have been replaced with treated lumber for years of relaxing in the quiet neighborhood. Call today to see this gem for yourself- pictures do not do justice to this charmer!!

5. 2026-04-30
   status Active 770-char remark

   Show marketing remark (770 chars)

   Remodeled, Refreshed and Ready for you to move right in! This Charming Turn of the Century home is a must see with it's 9 foot ceilings throughout the home. Updated Stainless steel appliances, furnace and electrical. Fresh paint, new lighting and fixtures bring a modern look to the home that awaits you to add your pop of color. For those looking for main floor living - there is a large bedroom and a full bath and laundry all located on the main level. Both the upper and main level bathrooms have been updated with new toilets and vanities as well as lighting. The front and back porch have been replaced with treated lumber for years of relaxing in the quiet neighborhood. Call today to see this gem for yourself- pictures do not do justice to this charmer!!

6. 2026-04-27
   historical 770-char remark

   Show marketing remark (770 chars)

   Remodeled, Refreshed and Ready for you to move right in! This Charming Turn of the Century home is a must see with it's 9 foot ceilings throughout the home. Updated Stainless steel appliances, furnace and electrical. Fresh paint, new lighting and fixtures bring a modern look to the home that awaits you to add your pop of color. For those looking for main floor living - there is a large bedroom and a full bath and laundry all located on the main level. Both the upper and main level bathrooms have been updated with new toilets and vanities as well as lighting. The front and back porch have been replaced with treated lumber for years of relaxing in the quiet neighborhood. Call today to see this gem for yourself- pictures do not do justice to this charmer!!

7. 2026-03-06
   listed $175,500 Active 770-char remark

   Show marketing remark (770 chars)

   Remodeled, Refreshed and Ready for you to move right in! This Charming Turn of the Century home is a must see with it's 9 foot ceilings throughout the home. Updated Stainless steel appliances, furnace and electrical. Fresh paint, new lighting and fixtures bring a modern look to the home that awaits you to add your pop of color. For those looking for main floor living - there is a large bedroom and a full bath and laundry all located on the main level. Both the upper and main level bathrooms have been updated with new toilets and vanities as well as lighting. The front and back porch have been replaced with treated lumber for years of relaxing in the quiet neighborhood. Call today to see this gem for yourself- pictures do not do justice to this charmer!!

8. 2026-03-05
   historical
9. 2026-02-20
   listed $178,900 Active

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,427 · $119/mo
• Expected delta: +$475/yr (+$40/mo · 49.9%)

ⓘ 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 ≥99°F today · 13 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: $17,837
• − Mortgage interest: −$9,517
• − Property taxes: −$952
• − Insurance: −$850
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$4,943
• Taxable loss: −$1,278
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $1,905/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: Benson Public School District
• NCES district ID: 2704470
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 41% ▼ -9.00%
• Median HH income: $49,024
• Composite: 33.56/100
• National rank: #5423
• State rank: #228 of 301 in MN

Livability — Benson

• Score: 75/100
• State rank: #189
• US rank: #4068

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: Benson, MN
• Population (ZIP): 4,701

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 28% Italian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.08%
• Current HPI: 214.9157
• 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

-5.0% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-06 Listed $175,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-20 Listed $178,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $952 · +1.7% YoY. Source: county tax records.