110 1st St SW · Melrose, MN 56352

$99,900

4 bd · 2.0 ba · 1,585 sqft · SingleFamily public records · 6 Days on market

Built 1890 10,454 sqft lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

Key facts

• 0.24 acre lot
• Built 1890
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).

Location & tenants

• Location reads 76/100 on livability (#164 in MN, #3,568 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Melrose Public School District (rural): math 45% / reading 50% proficiency, ranked #142 of 301 in MN (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Melrose Elementary (math 55% / reading 44%, grade D, #423 of 857 statewide, top 55%, 471 students, 50% FRL); Melrose Middle (math 39% / reading 51%, grade D, #113 of 258 statewide, top 45%, 334 students, 44% FRL); Melrose Secondary (math 42% / reading 57%, grade D, #143 of 471 statewide, top 33%, 472 students, 40% FRL).
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1890 — 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. 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.
5. 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.
6. 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: 1.73% ✓
• Cap rate: 14.63%
• Cash-on-cash: 29.79%
• DSCR: 2.33
• GRM: 4.8

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: 46.9%
• Equity multiple: 4.53×
• Total profit: $98,647
• Equity at exit: $89,998

10-year hold

• IRR: 40.8%
• Equity multiple: 10.14×
• Total profit: $255,752
• Equity at exit: $194,084

Cash invested: $27,972 (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 56352

• Home prices YoY: 6.1%
• Active inventory: 31
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $694

Break-even live

Break-even rent $851

Max offer price $99,900

Occupancy floor 55%

Sensitivity live

Price	-10% $751	-5% $723	+0% $694	+5% $666	+10% $638
Rent	-10% $558	-5% $626	+0% $694	+5% $763	+10% $831
Rate	-1.0pp $745	-0.5pp $720	base $694	+0.5pp $668	+1.0pp $642

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 W Railroad Ave Melrose, MN	1.0–3.0	1.0–2.0	950	$1,730	$1.82	45d	17	1.06mi

Listing history 12 events

1. 2026-03-16
   status Pending
2. 2026-03-08
   listed $99,900 Active
3. 2020-12-03
   soldstatus $80,000
4. 2015-11-20
   soldstatus $80,000 Sold 405-char remark

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

5. 2015-11-20
   soldstatus $80,000

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

6. 2015-11-16
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

7. 2015-11-12
   historical Contingent - Inspection 405-char remark

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

8. 2015-11-11
   status Pending 405-char remark

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

9. 2015-10-07
   listed $89,500 Active 405-char remark

   Show marketing remark (405 chars)

   Turn Key Home Ready For Immediate Occupancy In Melrose. This Is A Spacious 4 Bedroom & 2 Bathroom Home. Nice Large City Lot, Alley Access, Room To Add Garage On Lot, Home Has Had Countless Recent Improvements, Newer Shingles, Windows, Flooring, Paint, Electrical Service, Newer Hot Water Heater, Split Unit For Cooling & Supplement Heat, Appliances Are All Included. Don't Delay Viewing This Home.

10. 2013-05-31
    soldstatus $39,000 128-char remark

    Show marketing remark (128 chars)

    Nice affordable 4 bedroom home in a great neighborhood. Extra room on main level for potential main floor bedroom or office/den.

11. 2013-05-17
    historical 128-char remark

    Show marketing remark (128 chars)

    Nice affordable 4 bedroom home in a great neighborhood. Extra room on main level for potential main floor bedroom or office/den.

12. 2011-11-21
    listed $57,700 128-char remark

    Show marketing remark (128 chars)

    Nice affordable 4 bedroom home in a great neighborhood. Extra room on main level for potential main floor bedroom or office/den.

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,282 · $107/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $20,760
• − Mortgage interest: −$5,596
• − Property taxes: −$1,282
• − Insurance: −$500
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$2,906
• Taxable income: $7,155
• Est. tax owed @ 24.0%: −$1,717
• After-tax cash flow: $6,615/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: Melrose Public School District
• NCES district ID: 2720550
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $55,833
• Composite: 41.26/100
• National rank: #3525
• State rank: #142 of 301 in MN

Livability — Melrose

• Score: 76/100
• State rank: #164
• US rank: #3568

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: Melrose, MN
• Population (ZIP): 5,955

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Romanian 4% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 410.59
• 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

+73.1% since first listed

12 events — show timeline

• 2026-03-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-08 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-03 Sold (Public Records) $80,000 Public Records
• 2015-11-20 Sold (Public Records) $80,000 Public Records
• 2015-11-20 Sold (MLS) $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-11-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-07 Listed $89,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-31 Sold (MLS) $39,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-21 Listed $57,700 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $1,282 · +4.2% YoY. Source: county tax records.