209 8th St E · Hastings, MN 55033

$211,500

2 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 51 Days on market

Built 1855 6,403 sqft lot $163/sqft · 41% above area Est $184k · 15% over

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Why this score? — see what drove the F 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 +9.4/30.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this picturesque home with a large front porch, newer windows, huge master and large walk-in closet. The bathroom is nicely updated with gorgeous vinyl plank flooring, tile bath and stylish barn door leading to the bath. The main level features an open floor plan with a breakfast bar, huge pantry in kitchen, multiple living areas, coffered ceilings and so much more. Roof is 2013. Come see this home before it is gone!

Key facts

• 6,403 sq ft lot
• Garage
• Built 1855

Property features AI

Exterior

• Parking: Detached or attached 1-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; One-and-one-half story; Above-grade finished living area approximately 1,594
• Construction: Asphalt roof; Foundation described as 'Other'; Wood construction
• Exterior features: Wood exterior

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms (two on upper level, one on main level)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Hot water heating; Window air conditioning units
• Interior features: Microwave; Range; Refrigerator; Unfinished basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $212k.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (26.8% below list).
• Recommended offer: $155k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.9% in Hastings — 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 75/100 on livability (#176 in MN, #3,817 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Hastings Public School District (town): math 43% / reading 50% proficiency, ranked #136 of 301 in MN (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Kennedy Elementary (math 62% / reading 52%, grade C+, #265 of 857 statewide, top 35%, 450 students, 35% FRL); Hastings Middle School (math 33% / reading 48%, grade F, #144 of 258 statewide, top 56%, 1,210 students, 33% FRL); Hastings High School (math 46% / reading 67%, grade C, #77 of 471 statewide, top 17%, 1,353 students, 24% FRL).
• Market conditions: 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,134 units permitted in Dakota County in 2024 (898 in 5+ unit buildings).
• This rent is only 18% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Dakota County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 33y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1855 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,905 (26.8% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1855 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 0.73% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.03%
• DSCR: 0.87
• GRM: 11.4

CMA / ARV

• ARV (median comp): $184,155
• List price: $211,500
• Delta: 14.85%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-43,836
• Equity at exit: $31,535

10-year hold

• IRR: -15.0%
• Equity multiple: 0.15×
• Total profit: $-50,571
• Equity at exit: $18,287

Cash invested: $59,220 (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 55033

• Active inventory: 180
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,549 medium
• Mortgage (P&I): −$1,109
• Tax from tax record: −$176 /mo · $2,114/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $-150

Break-even live

Break-even rent $1,739

Max offer price $185,060

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-90	+0% $-150	+5% $-210	+10% $-269
Rent	-10% $-272	-5% $-211	+0% $-150	+5% $-88	+10% $-27
Rate	-1.0pp $-43	-0.5pp $-96	base $-150	+0.5pp $-204	+1.0pp $-260

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: $52,875
• Closing costs: $6,345
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Lyn Way Hastings, MN	2.0	1.0	975	$1,220	$1.25	0d	1	0.95mi

Listing history 43 events

1. 2026-06-21
   days on market $211,500 Active 51 DOM
2. 2026-06-18
   days on market $211,500 Active 48 DOM
3. 2026-06-17
   days on market $211,500 Active 47 DOM
4. 2026-06-16
   days on market $211,500 Active 46 DOM
5. 2026-06-15
   days on market $211,500 Active 45 DOM
6. 2026-06-13
   pricedays on market $211,500 Active 43 DOM
7. 2026-06-09
   days on market $215,000 Active 39 DOM
8. 2026-06-08
   days on market $215,000 Active 38 DOM
9. 2026-06-07
   days on market $215,000 Active 37 DOM
10. 2026-06-04
    days on market $215,000 Active 34 DOM
11. 2026-06-03
    days on market $215,000 Active 33 DOM
12. 2026-06-02
    days on market $215,000 Active 32 DOM
13. 2026-06-01
    days on market $215,000 Active 31 DOM
14. 2026-05-31
    days on market $215,000 Active 30 DOM
15. 2026-05-02
    listed $225,000 Active 544-char remark
16. 2026-05-01
    historical $225,000 544-char remark
17. 2023-03-14
    status Active
18. 2023-03-01
    status Pending
19. 2023-02-14
    listed $226,000 Active
20. 2023-02-02
    historical
21. 2022-09-22
    soldstatus $212,000
22. 2022-08-29
    status Pending

    Show marketing remark (429 chars)

    Come see this picturesque home with a large front porch, newer windows, huge master and large walk-in closet. The bathroom is nicely updated with gorgeous vinyl plank flooring, tile bath and stylish barn door leading to the bath. The main level features an open floor plan with a breakfast bar, huge pantry in kitchen, multiple living areas, coffered ceilings and so much more. Roof is 2013. Come see this home before it is gone!

23. 2022-08-26
    soldstatus $212,000 Sold

    Show marketing remark (429 chars)

    Come see this picturesque home with a large front porch, newer windows, huge master and large walk-in closet. The bathroom is nicely updated with gorgeous vinyl plank flooring, tile bath and stylish barn door leading to the bath. The main level features an open floor plan with a breakfast bar, huge pantry in kitchen, multiple living areas, coffered ceilings and so much more. Roof is 2013. Come see this home before it is gone!

24. 2022-07-12
    historical Contingent - Inspection

    Show marketing remark (429 chars)

    Come see this picturesque home with a large front porch, newer windows, huge master and large walk-in closet. The bathroom is nicely updated with gorgeous vinyl plank flooring, tile bath and stylish barn door leading to the bath. The main level features an open floor plan with a breakfast bar, huge pantry in kitchen, multiple living areas, coffered ceilings and so much more. Roof is 2013. Come see this home before it is gone!

25. 2022-07-08
    listed $225,000 Active

    Show marketing remark (429 chars)

    Come see this picturesque home with a large front porch, newer windows, huge master and large walk-in closet. The bathroom is nicely updated with gorgeous vinyl plank flooring, tile bath and stylish barn door leading to the bath. The main level features an open floor plan with a breakfast bar, huge pantry in kitchen, multiple living areas, coffered ceilings and so much more. Roof is 2013. Come see this home before it is gone!

26. 2017-11-08
    soldstatus $170,000
27. 2017-11-03
    soldstatus $170,000 Sold
28. 2017-10-02
    historical
29. 2017-09-21
    historical
30. 2017-09-15
    listed $174,900 Active
31. 2017-09-15
    historical
32. 2017-08-16
    price $179,900
33. 2017-07-31
    price $184,900
34. 2017-06-29
    listed $189,900 Active
35. 2017-04-12
    listed $190,000 Active
36. 2001-03-30
    soldstatus $121,500
37. 2001-03-01
    soldstatus $121,500
38. 2001-02-09
    historical
39. 2001-01-27
    listed $119,750
40. 1993-11-12
    soldstatus $60,000
41. 1993-10-29
    soldstatus $60,000
42. 1993-09-16
    historical
43. 1993-09-15
    listed $59,900

ⓘ 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: $2,114 · $176/mo
• Projected year-2 tax: $2,241 · $187/mo
• Expected delta: +$127/yr (+$11/mo · 6.0%)

ⓘ 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 ≥99°F today · 14 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: $18,589
• − Mortgage interest: −$11,847
• − Property taxes: −$2,114
• − Insurance: −$1,058
• − Repairs & maintenance: −$1,487
• − Management: −$1,487
• − Depreciation: −$6,153
• Taxable loss: −$5,557
• Est. tax savings @ 24.0%: +$1,334
• After-tax cash flow: $-462/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: Hastings Public School District
• NCES district ID: 2713530
• Math proficiency: 43% ▼ -25.00%
• Reading proficiency: 50% ▼ -16.00%
• Median HH income: $69,586
• Composite: 41.73/100
• National rank: #3404
• State rank: #136 of 301 in MN

Livability — Hastings

• Score: 75/100
• State rank: #176
• US rank: #3817

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MN
• County: Dakota County · 417,704 people
• City population: 29,674
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 29,674
• Household income: $103,988
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 552.0

Population outlook (Dakota County) Hauer SSP2

• Today (2025): 450,671 people
• By 2030: 465,068 · +3.2%
• By 2040: 486,770 · +8.0%
• By 2050: 498,743 · +10.7%
• By 2075: 533,865 · +18.5%
• By 2100: 550,133 · +22.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 4% Asian 2% Black 1%
• Common ancestry: Portuguese 11% Romanian 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 0%

Political lean MEDSL · Dakota

• 2024 margin: D (+12.9) · D 55.4% · R 42.5% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 5.5pp · 2024: 12.9pp
• All cycles: 2024: D+12.9 2020: D+13.9 2016: D+4.7 2012: D+2.9 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.35%
• Current HPI: 228.8854
• Rent YoY: —
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+253.1% since first listed

31 events — show timeline

• 2026-06-11 Price Changed $211,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Price Changed $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-14 Listed $226,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-02 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-22 Sold (Public Records) $212,000 Public Records
• 2022-08-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-26 Sold (MLS) $212,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-08 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-08 Sold (Public Records) $170,000 Public Records
• 2017-11-03 Sold (MLS) $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-02 Listing Removed — HARMLS
• 2017-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-15 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-16 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-31 Price Changed $184,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-29 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-12 Listed $190,000 HARMLS
• 2001-03-30 Sold (MLS) $121,500 NORTHSTARMLS as Distributed by MLS Grid
• 2001-03-01 Sold (Public Records) $121,500 Public Records
• 2001-02-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-01-27 Listed $119,750 NORTHSTARMLS as Distributed by MLS Grid
• 1993-11-12 Sold (Public Records) $60,000 Public Records
• 1993-10-29 Sold (MLS) $60,000 NORTHSTARMLS as Distributed by MLS Grid
• 1993-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1993-09-15 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $2,114 · -0.8% YoY. Source: county tax records.