31 5th St NW · Glenwood, MN 56334

$229,000

4 bd · 1.5 ba · 886 sqft · SingleFamily public records · 2 Days on market

Built 1940 0.27 ac 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 +13.4/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +4.0/10.0
• Appreciation +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

So many updates and improvements in this 3 br Glenwood bungalow! Darling facade with a large level yard only a block from Lake Minnewaska...it's the perfect spot to play, walk, run and bike! Brand new main floor bathroom, new water heater, and new furnace! Newer kitchen with many new appliances, as well. Just two months ago, basement was totally waterproofed- 2 sump pumps (with battery back-up) and all drain tiled...with a warranty that passes on to the next owner! Seller has updated and repaired all the big ticket items, so you can just move in and relax!

Key facts

• Spacious yard
• Large level lot
• Lower-level laundry

Tags

• LARGE LEVEL LOT
• UPDATED MAIN FLOOR BATHROOM
• FULLY WATERPROOFED LOWER LEVEL
• DOUBLE DETACHED GARAGE
• LOWER-LEVEL LAUNDRY
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $5 ($64/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 $189k (17.4% below list).
• Recommended offer: $189k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.6% in Glenwood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#336 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D+, amenities F.
• Minnewaska School District (rural): math 55% / reading 51% proficiency, ranked #87 of 301 in MN (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 54 active listings in the ZIP; 41 units permitted in Pope County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Pope County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $194k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,256 (17.4% below list)

Questions for the listing agent

1. Built in 1940 — 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 B-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. 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: 0.83% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-36,226
• Equity at exit: $34,754

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-30,739
• Equity at exit: $20,847

Cash invested: $64,120 (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 56334

• Home prices YoY: -0.9%
• Active inventory: 54
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$194 /mo · $2,322/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $5

Break-even live

Break-even rent $1,886

Max offer price $229,000

Occupancy floor 95%

Sensitivity live

Price	-10% $135	-5% $70	+0% $5	+5% $-60	+10% $-124
Rent	-10% $-144	-5% $-69	+0% $5	+5% $80	+10% $155
Rate	-1.0pp $121	-0.5pp $64	base $5	+0.5pp $-54	+1.0pp $-114

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   listed $229,000 Active
3. 2023-06-23
   soldstatus $193,500
4. 2020-06-26
   soldstatus $142,100
5. 2020-06-25
   soldstatus $142,100 Sold 562-char remark

   Show marketing remark (562 chars)

   So many updates and improvements in this 3 br Glenwood bungalow! Darling facade with a large level yard only a block from Lake Minnewaska...it's the perfect spot to play, walk, run and bike! Brand new main floor bathroom, new water heater, and new furnace! Newer kitchen with many new appliances, as well. Just two months ago, basement was totally waterproofed- 2 sump pumps (with battery back-up) and all drain tiled...with a warranty that passes on to the next owner! Seller has updated and repaired all the big ticket items, so you can just move in and relax!

6. 2020-05-29
   status Pending 562-char remark

   Show marketing remark (562 chars)

   So many updates and improvements in this 3 br Glenwood bungalow! Darling facade with a large level yard only a block from Lake Minnewaska...it's the perfect spot to play, walk, run and bike! Brand new main floor bathroom, new water heater, and new furnace! Newer kitchen with many new appliances, as well. Just two months ago, basement was totally waterproofed- 2 sump pumps (with battery back-up) and all drain tiled...with a warranty that passes on to the next owner! Seller has updated and repaired all the big ticket items, so you can just move in and relax!

7. 2020-05-26
   historical Contingent - Inspection 562-char remark

   Show marketing remark (562 chars)

   So many updates and improvements in this 3 br Glenwood bungalow! Darling facade with a large level yard only a block from Lake Minnewaska...it's the perfect spot to play, walk, run and bike! Brand new main floor bathroom, new water heater, and new furnace! Newer kitchen with many new appliances, as well. Just two months ago, basement was totally waterproofed- 2 sump pumps (with battery back-up) and all drain tiled...with a warranty that passes on to the next owner! Seller has updated and repaired all the big ticket items, so you can just move in and relax!

8. 2020-05-21
   listed $140,000 Active 562-char remark

   Show marketing remark (562 chars)

   So many updates and improvements in this 3 br Glenwood bungalow! Darling facade with a large level yard only a block from Lake Minnewaska...it's the perfect spot to play, walk, run and bike! Brand new main floor bathroom, new water heater, and new furnace! Newer kitchen with many new appliances, as well. Just two months ago, basement was totally waterproofed- 2 sump pumps (with battery back-up) and all drain tiled...with a warranty that passes on to the next owner! Seller has updated and repaired all the big ticket items, so you can just move in and relax!

ⓘ 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: $2,322 · $194/mo
• Projected year-2 tax: $2,443 · $204/mo
• Expected delta: +$121/yr (+$10/mo · 5.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,711
• − Mortgage interest: −$12,828
• − Property taxes: −$2,322
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$6,662
• Taxable loss: −$3,879
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $995/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: Minnewaska School District
• NCES district ID: 2700019
• Math proficiency: 55% ▼ -6.00%
• Reading proficiency: 51% ▼ -10.00%
• Median HH income: $51,589
• Composite: 45.45/100
• National rank: #2617
• State rank: #87 of 301 in MN

Livability — Glenwood

• Score: 70/100
• State rank: #336
• US rank: #7740

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenwood, MN
• Population (ZIP): 5,791

Population outlook (Pope County) Hauer SSP2

• Today (2025): 10,898 people
• By 2030: 10,765 · -1.2%
• By 2040: 10,369 · -4.9%
• By 2050: 9,818 · -9.9%
• By 2075: 8,532 · -21.7%
• By 2100: 6,700 · -38.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 30% Lithuanian 3% Iranian 3%
• Foreign-born: 1% · Vietnam
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Pope

• 2024 margin: Solid R (+31.7) · D 33.4% · R 65.0% · Other 1.6%
• 2008→2024 swing: -35.5pp toward R · 2008: 3.8pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+27.6 2016: R+26.8 2012: R+2.6 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.94%
• Current HPI: 333.52
• 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

+63.6% since first listed

8 events — show timeline

• 2026-04-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Listed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-23 Sold (Public Records) $193,500 Public Records
• 2020-06-26 Sold (Public Records) $142,100 Public Records
• 2020-06-25 Sold (MLS) $142,100 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-21 Listed $140,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.2%/yr

Latest (2026): $2,322 · +15.2% YoY. Source: county tax records.