361 N Park Dr · Morton, MN 56270

$119,900

2 bd · 1.0 ba · 892 sqft · SingleFamily public records · 5 Days on market

Built 1951 9,757 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 +9.1/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

NA

Key facts

• 9,757 sq ft lot
• 3 garage spots
• Built 1951

Property features AI

Exterior

• Parking: Attached garage; 3 garage spaces; Garage dimensions: 12x22 and 20x24; Garage door 7' high by 9' wide
• Utilities: City water connected; City sewer connected; Propane fuel; Electric: 100 amp service with circuit breakers (Xcel Energy)
• Home design: Residential property; One level
• Construction: Block foundation; Foundation dimensions 36x26; Asphalt roof (over 8 years old)
• Exterior features: Rear porch; Vinyl exterior; Tree coverage - medium; Garage(s); Storage shed

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Range; Electric water heater; Rented water softener; Full basement with block foundation, egress window(s), and sump pump
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (28.3% below list).
• Recommended offer: $86k (28.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#613 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, crime D, schools F.
• Redwood Area School District (town): math 39% / reading 46% proficiency, ranked #207 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 17 units permitted in Renville County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($829 loan paydown + $7k appreciation (6.1% local appreciation)).
• Renville County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $54k; list at $120k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,007 (28.3% 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. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.88×
• Total profit: $29,583
• Equity at exit: $76,350

10-year hold

• IRR: 13.5%
• Equity multiple: 3.72×
• Total profit: $91,379
• Equity at exit: $139,306

Cash invested: $33,572 (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 56270

• Home prices YoY: 4.8%
• Active inventory: 2
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$94 /mo · $1,126/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $-93

Break-even live

Break-even rent $978

Max offer price $103,453

Occupancy floor —

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-20
   status Pending
2. 2026-05-15
   historical Contingent - Inspection
3. 2026-05-14
   listed $119,900 Active
4. 2019-02-02
   historical 2-char remark

   Show marketing remark (2 chars)

   NA

5. 2012-11-05
   soldstatus $54,000
6. 2012-10-31
   soldstatus $54,000 2-char remark

   Show marketing remark (2 chars)

   NA

7. 2012-10-31
   soldstatus $54,000 2-char remark

   Show marketing remark (2 chars)

   NA

8. 2012-08-20
   listed $54,900 2-char remark

   Show marketing remark (2 chars)

   NA

9. 2012-08-20
   listed $54,900 2-char remark

   Show marketing remark (2 chars)

   NA

10. 2004-11-15
    soldstatus $40,000

ⓘ 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: $1,126 · $94/mo
• Projected year-2 tax: $1,234 · $103/mo
• Expected delta: +$108/yr (+$9/mo · 9.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,321
• − Mortgage interest: −$6,716
• − Property taxes: −$1,126
• − Insurance: −$600
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$3,488
• Taxable loss: −$3,260
• Est. tax savings @ 24.0%: +$782
• After-tax cash flow: $-335/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: Redwood Area School District
• NCES district ID: 2700182
• Math proficiency: 39% ▼ -14.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $45,326
• Composite: 36.1/100
• National rank: #4756
• State rank: #207 of 301 in MN

Livability — Morton

• Score: 64/100
• State rank: #613
• US rank: #14608

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: Morton, MN
• Population (ZIP): 1,208

Population outlook (Renville County) Hauer SSP2

• Today (2025): 13,251 people
• By 2030: 12,443 · -6.1%
• By 2040: 10,946 · -17.4%
• By 2050: 9,598 · -27.6%
• By 2075: 7,411 · -44.1%
• By 2100: 5,768 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 54% Native American 38% Hispanic / Latino 10% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 11% Iranian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 92% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Renville

• 2024 margin: Solid R (+41.4) · D 28.4% · R 69.8% · Other 1.9%
• 2008→2024 swing: -40.8pp toward R · 2008: -0.6pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+36.5 2016: R+36.7 2012: R+9.8 2008: R+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.13%
• Current HPI: 134.6517
• 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

+199.8% since first listed

10 events — show timeline

• 2026-05-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-05 Sold (Public Records) $54,000 Public Records
• 2012-10-31 Sold (MLS) $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-10-31 Sold (MLS) $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-20 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-20 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-15 Sold (Public Records) $40,000 Public Records

Property tax history

+4.5%/yr

Latest (2026): $1,126 · +14.0% YoY. Source: county tax records.