405 E 8th St · Blue Earth, MN 56013

$99,999

3 bd · 2.0 ba · 1,403 sqft · Other public records · 45 Days on market

Built 1880 4,356 sqft lot ↓ 30% since listing

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Why this score? — see what drove the B- 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 +24.0/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Check out this nicely located, well maintained and updated duplex. This property features a main level 2 bedroom, 1 bath apartment and a 2 bedroom, 1 bath upper level apartment. Both apartments have their own laundry and separate front entries. The upper level apartment has an enclosed stairway entrance. All utilities have been separated so there are no utilities that the landlord has to pay, the tenants pay all of their own utilities. The main level is heated with a forced air furnace located in the basement, window A/C. The upper level apartment has electric heat and a wall A/C. Each unit has its own electric water heater and circuit breaker box. The exterior has vinyl siding and mostly new windows, insulated attic, newer plumbing and electrical. The upper unit has a new kitchen with landlord owned stove, refrigerator and built-in microwave, washer, dryer and wall A/C, all newer floor coverings in both apartments. All appliances are included on the main level which includes new (May 2016) clothes washer and dryer, window A/C, stove, refrigerator. Both street parking and off street parking. Great rental history on both units. Don't miss your opportunity to own this great investment property or live in one of the units and keep renting the other one!

Key facts

• 4,356 sq ft lot
• Built 1880
• Listed 45 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family
• Construction: Vinyl siding; Wood siding; Asphalt roof; Above-grade finished area (approx. 1,403); Below-grade finished area (approx. 600)
• Exterior features: Corner lot; Publicly maintained road

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Natural gas heating; Forced-air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#259 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Blue Earth Area Public School (town): math 29% / reading 44% proficiency, ranked #245 of 301 in MN (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 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

• It's been on market 45 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 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 $57k; list at $100k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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: 1.15% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 7.2

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: 30.4%
• Equity multiple: 3.39×
• Total profit: $66,918
• Equity at exit: $90,087

10-year hold

• IRR: 26.3%
• Equity multiple: 7.69×
• Total profit: $187,357
• Equity at exit: $194,276

Cash invested: $28,000 (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 56013

• Home prices YoY: 6.7%
• Active inventory: 36
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,153 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$150 /mo · $1,798/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $195

Break-even live

Break-even rent $906

Max offer price $99,999

Occupancy floor 78%

Sensitivity live

Price	-10% $252	-5% $223	+0% $195	+5% $167	+10% $138
Rent	-10% $104	-5% $150	+0% $195	+5% $241	+10% $286
Rate	-1.0pp $245	-0.5pp $220	base $195	+0.5pp $169	+1.0pp $143

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $99,999 Active 45 DOM
2. 2026-06-18
   days on market $99,999 Active 43 DOM
3. 2026-06-17
   days on market $99,999 Active 42 DOM
4. 2026-06-16
   days on market $99,999 Active 41 DOM
5. 2026-06-15
   days on market $99,999 Active 40 DOM
6. 2026-06-13
   days on market $99,999 Active 38 DOM
7. 2026-06-12
   days on market $99,999 Active 37 DOM
8. 2026-06-09
   days on market $99,999 Active 34 DOM
9. 2026-06-08
   days on market $99,999 Active 33 DOM
10. 2026-06-07
    days on market $99,999 Active 32 DOM
11. 2026-06-05
    days on market $99,999 Active 30 DOM
12. 2026-06-04
    days on market $99,999 Active 28 DOM
13. 2026-06-02
    days on market $99,999 Active 27 DOM
14. 2026-06-01
    days on market $99,999 Active 26 DOM
15. 2026-05-31
    days on market $99,999 Active 25 DOM
16. 2026-05-31
    days on market $99,999 Active 24 DOM
17. 2026-05-06
    listed $99,999 Active
18. 2016-07-11
    soldstatus $57,000
19. 2016-07-01
    soldstatus $57,000 1270-char remark

    Show marketing remark (1270 chars)

    Check out this nicely located, well maintained and updated duplex. This property features a main level 2 bedroom, 1 bath apartment and a 2 bedroom, 1 bath upper level apartment. Both apartments have their own laundry and separate front entries. The upper level apartment has an enclosed stairway entrance. All utilities have been separated so there are no utilities that the landlord has to pay, the tenants pay all of their own utilities. The main level is heated with a forced air furnace located in the basement, window A/C. The upper level apartment has electric heat and a wall A/C. Each unit has its own electric water heater and circuit breaker box. The exterior has vinyl siding and mostly new windows, insulated attic, newer plumbing and electrical. The upper unit has a new kitchen with landlord owned stove, refrigerator and built-in microwave, washer, dryer and wall A/C, all newer floor coverings in both apartments. All appliances are included on the main level which includes new (May 2016) clothes washer and dryer, window A/C, stove, refrigerator. Both street parking and off street parking. Great rental history on both units. Don't miss your opportunity to own this great investment property or live in one of the units and keep renting the other one!

20. 2016-05-23
    listed $59,500 1270-char remark

    Show marketing remark (1270 chars)

    Check out this nicely located, well maintained and updated duplex. This property features a main level 2 bedroom, 1 bath apartment and a 2 bedroom, 1 bath upper level apartment. Both apartments have their own laundry and separate front entries. The upper level apartment has an enclosed stairway entrance. All utilities have been separated so there are no utilities that the landlord has to pay, the tenants pay all of their own utilities. The main level is heated with a forced air furnace located in the basement, window A/C. The upper level apartment has electric heat and a wall A/C. Each unit has its own electric water heater and circuit breaker box. The exterior has vinyl siding and mostly new windows, insulated attic, newer plumbing and electrical. The upper unit has a new kitchen with landlord owned stove, refrigerator and built-in microwave, washer, dryer and wall A/C, all newer floor coverings in both apartments. All appliances are included on the main level which includes new (May 2016) clothes washer and dryer, window A/C, stove, refrigerator. Both street parking and off street parking. Great rental history on both units. Don't miss your opportunity to own this great investment property or live in one of the units and keep renting the other one!

21. 2013-02-26
    soldstatus $45,000
22. 2007-09-07
    listed $19,500
23. 2007-06-07
    soldstatus $142,200
24. 2007-06-07
    soldstatus $115,000

ⓘ 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: $1,798 · $150/mo
• Projected year-2 tax: $1,798 · $150/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,837
• − Mortgage interest: −$5,601
• − Property taxes: −$1,798
• − Insurance: −$500
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$2,909
• Taxable income: $815
• Est. tax owed @ 24.0%: −$196
• After-tax cash flow: $2,145/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: Blue Earth Area Public School
• NCES district ID: 2700130
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $44,434
• Composite: 31.0/100
• National rank: #6095
• State rank: #245 of 301 in MN

Livability — Blue Earth

• Score: 73/100
• State rank: #259
• US rank: #5617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Earth, MN
• Population (ZIP): 4,534

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 23% Scottish 5% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.36%
• Current HPI: 244.2912
• 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

-29.7% since first listed

8 events — show timeline

• 2026-05-06 Listed $99,999 RASM
• 2016-07-11 Sold (Public Records) $57,000 Public Records
• 2016-07-01 Sold (MLS) $57,000 RASM
• 2016-05-23 Listed $59,500 RASM
• 2013-02-26 Sold (Public Records) $45,000 Public Records
• 2007-09-07 Listed $19,500 NORTHSTARMLS as Distributed by MLS Grid
• 2007-06-07 Sold (Public Records) $115,000 Public Records
• 2007-06-07 Sold (Public Records) $142,200 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,798 · +5.4% YoY. Source: county tax records.