501 Cedar St · Milroy, MN 56263

$125,000

3 bd · 2.0 ba · 2,280 sqft · SingleFamily public records · 1 Days on market

Built 2000 10,454 sqft lot

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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).

• Cash flow +14.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Appreciation +5.0/10.0
• DSCR +4.3/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2000

Property features AI

Exterior

• Parking: 2-car garage (approx. 24'x26'); Concrete parking surfaces
• Utilities: City water; City sewer; Electric service with circuit breakers; Fuel: Electric and propane
• Home design: Residential single-level home; One story; Main entry on main level
• Construction: Asphalt roof; Block foundation; Foundation dimensions approximately 76' x 30'; Built with vinyl siding
• Exterior features: Vinyl exterior; Corner lot; 140 x 75 lot dimensions; City street frontage on paved roads; Publicly maintained roads; Garage(s) on property

Interior

• Kitchen: Kitchen center island; Eat-in kitchen / informal dining
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom with walk-in closet
• Bathrooms: Primary 3/4 bath with double sink and private setting; Main floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Vaulted ceilings; Primary bedroom suite; Main floor primary bedroom; All living facilities on one level; Main floor laundry; No internal stairs
• Laundry & utility: Main level laundry; Washer/dryer hookup; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $17 ($209/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 67/100 on livability (#449 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• Milroy Public School District (rural): math 40% / reading 40% proficiency, ranked #352 of 467 in MN (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Milroy Elementary (math 50% / reading 50%, grade D, #423 of 857 statewide, top 55%, 32 students, 50% FRL) — zoned schools average 50% FRL vs 27% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 7 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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 $35k; list at $125k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $125,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.03% ✓
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 8.1

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: 8.1%
• Equity multiple: 1.46×
• Total profit: $16,270
• Equity at exit: $56,205

10-year hold

• IRR: 10.8%
• Equity multiple: 2.61×
• Total profit: $56,523
• Equity at exit: $86,619

Cash invested: $35,000 (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 56263

• Active inventory: 7
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,285 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$290 /mo · $3,482/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $17

Break-even live

Break-even rent $1,263

Max offer price $125,000

Occupancy floor 94%

Sensitivity live

Price	-10% $88	-5% $53	+0% $17	+5% $-18	+10% $-53
Rent	-10% $-84	-5% $-33	+0% $17	+5% $68	+10% $119
Rate	-1.0pp $80	-0.5pp $49	base $17	+0.5pp $-15	+1.0pp $-48

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-29
   status Pending
2. 2026-04-29
   listed $125,000 Active
3. 2020-11-19
   soldstatus $35,000
4. 2019-02-02
   historical 208-char remark

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

5. 2019-02-02
   historical

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

6. 2009-10-20
   soldstatus $67,500 208-char remark

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

7. 2009-10-20
   soldstatus $67,500

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

8. 2009-10-20
   soldstatus $67,500

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

9. 2009-05-16
   listed $74,900 208-char remark

   Show marketing remark (208 chars)

   Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

10. 2009-05-16
    listed $74,900

    Show marketing remark (208 chars)

    Complete main level living with split bedroom floor plan. Like new home has hardly been lived in. Refrigerator, Stove, Washer & Dryer are included. $6,000 invested in permanent block skirting around home.

11. 2007-02-21
    listed $79,900
12. 2007-02-21
    listed $79,900

ⓘ 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: $3,482 · $290/mo
• Projected year-2 tax: $3,482 · $290/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $15,421
• − Mortgage interest: −$7,002
• − Property taxes: −$3,482
• − Insurance: −$625
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$3,636
• Taxable loss: −$1,792
• Est. tax savings @ 24.0%: +$430
• After-tax cash flow: $639/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: Milroy Public School District
• NCES district ID: 2721210
• Math proficiency: 40% ▲ 19.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $53,824
• Composite: 37.29/100
• National rank: #8961
• State rank: #352 of 467 in MN

Livability — Milroy

• Score: 67/100
• State rank: #449
• US rank: #10645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milroy, MN
• Population (ZIP): 452

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Asian 2%
• Common ancestry: Portuguese 12% English 9% Romanian 6%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+56.4% since first listed

12 events — show timeline

• 2026-04-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-11-19 Sold (Public Records) $35,000 Public Records
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-20 Sold (Public Records) $67,500 Public Records
• 2009-10-20 Sold (MLS) $67,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-20 Sold (MLS) $67,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-16 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-16 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-21 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-21 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.3%/yr

Latest (2025): $3,482 · +10.8% YoY. Source: county tax records.