31 Chestnut St E #3 · Trimont, MN 56176

$65,000

1 bd · 1.0 ba · 600 sqft · Other · 108 Days on market

Built 1945 Good condition 0.64 ac lot $275/mo HOA · 36% of rent

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

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Cash flow +6.0/30.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• DSCR +0.4/10.0

Listing remarks MLS

Condominium for Sale! Beautifully renovated 1-bedroom, 1-bath condo, unique custom updates throughout, creating a warm, comfortable, homey feel. Secure entry with well-maintained common areas and corridors. Enjoy low-maintenance living with low HOA fees that include gas, water, trash, lawn care, and snow removal. Amenities include central air conditioning, forced air furnace, on-site parking, common washer/dryer laundry area and community party/meeting space available. An affordable, stress-free living option. No Pets. No Smoking.

Key facts

• Renovated
• Secure entry
• On-site parking

Tags

• RENOVATED
• SECURE ENTRY
• ON-SITE PARKING
• COMMUNITY PARTY MEETING SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-123 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $47k (27.4% below list).
• Meets the 1% rule at list price ($761 rent vs $65k).
• Recommended offer: $47k (27.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#288 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Martin County West School District (rural): math 38% / reading 50% proficiency, ranked #187 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Trimont Elementary (math 42% / reading 52%, grade D-, #492 of 857 statewide, top 61%, 185 students, 48% FRL); Martin County West Junior High (math 27% / reading 37%, grade F, #188 of 258 statewide, top 73%, 95 students, 47% FRL); Martin County West Senior High (math 44% / reading 64%, grade C-, #87 of 471 statewide, top 22%, 224 students, 48% FRL) — zoned schools average 48% FRL vs 28% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent; built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,174 (27.4% 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. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 1.17% ✓
• Cap rate: 4.02%
• Cash-on-cash: -8.12%
• DSCR: 0.64
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.52×
• Total profit: $27,735
• Equity at exit: $58,557

10-year hold

• IRR: 17.4%
• Equity multiple: 5.85×
• Total profit: $88,204
• Equity at exit: $126,281

Cash invested: $18,200 (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 56176

• Home prices YoY: 4.2%
• Active inventory: 12
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $761 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$275
• Vacancy / Maint / Mgmt: −$160
• Net cashflow: $-123

Break-even live

Break-even rent $917

Max offer price $47,174

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-101	+0% $-123	+5% $-146	+10% $-168
Rent	-10% $-183	-5% $-153	+0% $-123	+5% $-93	+10% $-63
Rate	-1.0pp $-90	-0.5pp $-107	base $-123	+0.5pp $-140	+1.0pp $-157

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $275 · $3,300/yr
• Likely covers: watertrashgaslandscapingsnow removal

Listing history 18 events

1. 2026-06-21
   days on market $65,000 Active 108 DOM
2. 2026-06-21
   days on market $65,000 Active 107 DOM
3. 2026-06-18
   days on market $65,000 Active 105 DOM
4. 2026-06-17
   days on market $65,000 Active 104 DOM
5. 2026-06-16
   days on market $65,000 Active 103 DOM
6. 2026-06-15
   days on market $65,000 Active 102 DOM
7. 2026-06-13
   days on market $65,000 Active 100 DOM
8. 2026-06-12
   days on market $65,000 Active 99 DOM
9. 2026-06-09
   days on market $65,000 Active 96 DOM
10. 2026-06-08
    days on market $65,000 Active 95 DOM
11. 2026-06-07
    days on market $65,000 Active 94 DOM
12. 2026-06-05
    days on market $65,000 Active 92 DOM
13. 2026-06-04
    days on market $65,000 Active 90 DOM
14. 2026-06-02
    days on market $65,000 Active 89 DOM
15. 2026-06-01
    days on market $65,000 Active 88 DOM
16. 2026-05-31
    days on market $65,000 Active 87 DOM
17. 2026-05-31
    days on market $65,000 Active 86 DOM
18. 2026-03-03
    listed $72,000 Active 541-char remark

    Show marketing remark (541 chars)

    Condominium for Sale! Beautifully renovated 1-bedroom, 1-bath condo, unique custom updates throughout, creating a warm, comfortable, homey feel. Secure entry with well-maintained common areas and corridors. Enjoy low-maintenance living with low HOA fees that include gas, water, trash, lawn care, and snow removal. Amenities include central air conditioning, forced air furnace, on-site parking, common washer/dryer laundry area and community party/meeting space available. An affordable, stress-free living option. No Pets. No Smoking.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,129
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$730
• − Management: −$730
• − HOA: −$3,300
• − Depreciation: −$1,891
• Taxable loss: −$2,463
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $-887/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

A well-maintained, slightly dated 1-bedroom condo with good curb appeal and basic amenities. Minor updates to kitchen and bathroom would significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic design

Value-add opportunities

• Both modernize kitchen with new cabinets and countertops — enhances aesthetics and functionality
• Both update bathroom fixtures — improves functionality and appeal
• Both paint interior walls — refreshes the space and improves curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · basic design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both modernize kitchen with new cabinets and countertops — enhances aesthetics and functionality ↑
• Both update bathroom fixtures — improves functionality and appeal ↑
• Both paint interior walls — refreshes the space and improves curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Martin County West School District
• NCES district ID: 2718960
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 50% ▼ -8.00%
• Median HH income: $48,825
• Composite: 37.66/100
• National rank: #4369
• State rank: #187 of 301 in MN

Livability — Trimont

• Score: 72/100
• State rank: #288
• US rank: #6269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trimont, MN
• Population (ZIP): 985

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 8%
• Common ancestry: Portuguese 12% Lithuanian 5% Italian 3%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.31%
• Current HPI: 331.7374
• 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

1 event — show timeline

• 2026-03-03 Listed $72,000 NORTHSTARMLS as Distributed by MLS Grid