331 2nd Ave NW · Glenville, MN 56036

$42,000

1 bd · 1.0 ba · 695 sqft · SingleFamily public records · 2 Days on market

Built 1904 0.28 ac 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 +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable opportunity with strong potential! This cozy 2 bed, 1 bath home offers an eat-in kitchen and has a partial fenced backyard. Whether you're looking to start or expand your investment portfolio, purchase your 1st home or downsize to something managable, this property offers a great value.

Key facts

• Eat-in kitchen
• 0.28 acre lot
• Built 1904

Tags

• EAT-IN KITCHEN
• PARTIAL FENCED BACKYARD

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential one-story home; Entry and main living on one level
• Construction: Frame construction; Asphalt roof; Block foundation
• Exterior features: Vinyl exterior; Chain link fence; City street frontage (public maintained road); Lot approximately 0.275 acres (approx. 100 x 120)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Ceiling fan(s); Eat-in kitchen; Partial, unfinished block basement
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($797 rent vs $42k).

Location & tenants

• Location reads 65/100 on livability (#544 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• Glenville-Emmons School District (rural): math 50% / reading 45% proficiency, ranked #305 of 467 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 16 units permitted in Freeborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($290 loan paydown + $4k appreciation (10.0% local appreciation)).
• Freeborn 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,000

Questions for the listing agent

1. Built in 1904 — 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. 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?
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: 1.90% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.31%
• DSCR: 2.57
• GRM: 4.4

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: 51.4%
• Equity multiple: 4.82×
• Total profit: $44,921
• Equity at exit: $37,837

10-year hold

• IRR: 45.0%
• Equity multiple: 10.78×
• Total profit: $114,969
• Equity at exit: $81,597

Cash invested: $11,760 (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 56036

• Home prices YoY: 6.7%
• Active inventory: 13
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $797 medium
• Mortgage (P&I): −$220
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $346

Break-even live

Break-even rent $359

Max offer price $42,000

Occupancy floor 52%

Sensitivity live

Price	-10% $370	-5% $358	+0% $346	+5% $334	+10% $322
Rent	-10% $283	-5% $315	+0% $346	+5% $378	+10% $409
Rate	-1.0pp $367	-0.5pp $357	base $346	+0.5pp $335	+1.0pp $324

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   status Pending
2. 2026-05-18
   listed $42,000 Active

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $548 · $46/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 ≥99°F today · 16 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: $9,561
• − Mortgage interest: −$2,353
• − Property taxes: −$548
• − Insurance: −$210
• − Repairs & maintenance: −$765
• − Management: −$765
• − Depreciation: −$1,222
• Taxable income: $3,699
• Est. tax owed @ 24.0%: −$888
• After-tax cash flow: $3,265/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: Glenville-Emmons School District
• NCES district ID: 2700148
• Math proficiency: 50% ▲ 20.00%
• Reading proficiency: 45% ▲ 15.00%
• Median HH income: $49,815
• Composite: 42.83/100
• National rank: #6740
• State rank: #305 of 467 in MN

Livability — Glenville

• Score: 65/100
• State rank: #544
• US rank: #13110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenville, MN
• Population (ZIP): 1,766

Population outlook (Freeborn County) Hauer SSP2

• Today (2025): 29,680 people
• By 2030: 29,038 · -2.2%
• By 2040: 27,650 · -6.8%
• By 2050: 26,387 · -11.1%
• By 2075: 25,224 · -15.0%
• By 2100: 23,842 · -19.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 38% Lithuanian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Freeborn

• 2024 margin: Strong R (+21.3) · D 38.7% · R 60.0% · Other 1.3%
• 2008→2024 swing: -38.5pp toward R · 2008: 17.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+16.0 2016: R+17.4 2012: D+14.2 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.32%
• Current HPI: 259.8986
• 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

2 events — show timeline

• 2026-05-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Listed $42,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $548 · -3.5% YoY. Source: county tax records.