115 N Lexington Ave · Le Center, MN 56057

$110,000

4 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 67 Days on market

Built 1923 6,054 sqft lot $86/sqft · 42% below area

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable home in Le Center across from the elementary school! Features 3 bedrooms plus a den area and a full bath with a clawfoot tub. Enjoy the front porch or backyard patio with alley access and a storage shed. Quick possession possible!

Key facts

• Alley access
• Backyard patio
• Front porch

Tags

• FRONT PORCH
• BACKYARD PATIO
• ALLEY ACCESS
• STORAGE SHED
• DEN AREA
• CLAWFOOT TUB

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#595 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Market conditions: 22 active listings in the ZIP; 60 units permitted in Le Sueur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Le Sueur County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 6.8

CMA / ARV

• ARV (median comp): $234,301
• List price: $110,000
• Delta: -53.05%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,314
• Equity at exit: $16,401

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $20,251
• Equity at exit: $9,511

Cash invested: $30,800 (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 56057

• Home prices YoY: -31.6%
• Active inventory: 22
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$183 /mo · $2,200/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $258

Break-even live

Break-even rent $1,020

Max offer price $110,000

Occupancy floor 76%

Sensitivity live

Price	-10% $321	-5% $290	+0% $258	+5% $227	+10% $196
Rent	-10% $152	-5% $205	+0% $258	+5% $312	+10% $365
Rate	-1.0pp $314	-0.5pp $286	base $258	+0.5pp $230	+1.0pp $201

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $110,000 Active 67 DOM
2. 2026-06-18
   days on market $110,000 Active 66 DOM
3. 2026-06-17
   days on market $110,000 Active 65 DOM
4. 2026-06-16
   days on market $110,000 Active 64 DOM
5. 2026-06-15
   days on market $110,000 Active 63 DOM
6. 2026-06-14
   days on market $110,000 Active 61 DOM
7. 2026-06-12
   days on market $110,000 Active 60 DOM
8. 2026-06-09
   days on market $110,000 Active 57 DOM
9. 2026-06-08
   days on market $110,000 Active 56 DOM
10. 2026-06-07
    days on market $110,000 Active 55 DOM
11. 2026-06-02
    days on market $110,000 Active 50 DOM
12. 2026-06-01
    days on market $110,000 Active 49 DOM
13. 2026-05-31
    days on market $110,000 Active 48 DOM
14. 2026-05-30
    days on market $110,000 Active 47 DOM
15. 2026-04-13
    listed $125,000 Active 241-char remark

    Show marketing remark (241 chars)

    Affordable home in Le Center across from the elementary school! Features 3 bedrooms plus a den area and a full bath with a clawfoot tub. Enjoy the front porch or backyard patio with alley access and a storage shed. Quick possession possible!

16. 2026-04-13
    listed $125,000 Active 241-char remark

    Show marketing remark (241 chars)

    Affordable home in Le Center across from the elementary school! Features 3 bedrooms plus a den area and a full bath with a clawfoot tub. Enjoy the front porch or backyard patio with alley access and a storage shed. Quick possession possible!

ⓘ 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: $2,200 · $183/mo
• Projected year-2 tax: $2,200 · $183/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 14 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: $16,170
• − Mortgage interest: −$6,162
• − Property taxes: −$2,200
• − Insurance: −$550
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,200
• Taxable income: $1,471
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $2,749/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)

No district data.

Livability — Le Center

• Score: 64/100
• State rank: #595
• US rank: #14272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Le Center, MN
• City population: 3,933
• Population (ZIP): 3,933

Population outlook (Le Sueur County) Hauer SSP2

• Today (2025): 27,622 people
• By 2030: 27,346 · -1.0%
• By 2040: 26,451 · -4.2%
• By 2050: 25,299 · -8.4%
• By 2075: 23,188 · -16.1%
• By 2100: 21,103 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 19% Two or more races 6%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Portuguese 7% Romanian 2% Iranian 1%
• Foreign-born: 10% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Le Sueur

• 2024 margin: Solid R (+33.7) · D 32.4% · R 66.0% · Other 1.6%
• 2008→2024 swing: -29.4pp toward R · 2008: -4.3pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+30.3 2016: R+30.7 2012: R+6.5 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.42%
• Current HPI: 186.9022
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-13 Listed $125,000 RASM
• 2026-04-13 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $2,200 · +1.7% YoY. Source: county tax records.