645 W 3rd St · Rush City, MN 55069

$240,000

4 bd · 2.0 ba · 2,428 sqft · SingleFamily public records · 50 Days on market

Built 1977 7,056 sqft lot $99/sqft · 20% below area Est $302k · 20% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0

Listing remarks MLS

Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

Key facts

• 7,056 sq ft lot
• 2 garage spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $939 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#355 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Rush City Public School District (rural): math 37% / reading 47% proficiency, ranked #195 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 362 units permitted in Chisago County in 2024 (121 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Chisago County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $180k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1977 — 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: 1.33% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.77%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (median comp): $301,640
• List price: $240,000
• Delta: -20.43%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $20,937
• Equity at exit: $35,785

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $95,275
• Equity at exit: $20,751

Cash invested: $67,200 (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 55069

• Home prices YoY: -1.7%
• Active inventory: 49
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,193 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$225 /mo · $2,696/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $939

Break-even live

Break-even rent $2,004

Max offer price $240,000

Occupancy floor 66%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-01
   days on market $240,000 Active 50 DOM
2. 2026-05-31
   days on market $240,000 Active 49 DOM
3. 2026-05-31
   days on market $240,000 Active 48 DOM
4. 2026-05-15
   status Active 1206-char remark

   Show marketing remark (1206 chars)

   Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

5. 2026-05-13
   historical Contingent - Inspection 1206-char remark

   Show marketing remark (1206 chars)

   Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

6. 2026-04-30
   price $240,000 1206-char remark

   Show marketing remark (1206 chars)

   Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

7. 2026-04-13
   listed $250,000 Active 1206-char remark

   Show marketing remark (1206 chars)

   Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

8. 2026-04-10
   historical $250,000 1206-char remark

   Show marketing remark (1206 chars)

   Step into the potential of this spacious one level home with a finished basement, offering room to grow and make it your own. Featuring 4 generously sized bedrooms and abundant storage throughout, this home is designed for both comfort and functionality. The kitchen boasts an impressive amount of cabinet space along with a large pantry, perfect for keeping everything organized. Just off the dining room, a deck provides an ideal spot for relaxing evenings or entertaining guests. Downstairs, the finished basement expands your living space with endless possibilities, whether you need a family room, home office, or recreation area. This property presents a fantastic opportunity to build equity with your personal updates and finishing touches. Major improvements have already been started, including a roof replacement in 2020, some updated decking, added gutters, a newer stainless steel dishwasher, and garage doors that are just 2 years old. An additional storage shed adds even more convenience. Located near schools, parks, and a community pool, this home combines value, space, and location. With so much potential and priced to sell quickly, this is an opportunity you won’t want to miss!

9. 2004-02-20
   soldstatus $180,300
10. 2004-01-29
    soldstatus $180,300 248-char remark

    Show marketing remark (248 chars)

    Over 2,000 finished sq.ft. Home has been comletely updated with newer 6 panel doors, newer apppliances, newer cabinets, newer floor coverings. Hardwood floors, porcelain bath floor, ceramic tile, whirlpool tub. Oversize aggregate patio and deck.

11. 2003-12-01
    historical 248-char remark

    Show marketing remark (248 chars)

    Over 2,000 finished sq.ft. Home has been comletely updated with newer 6 panel doors, newer apppliances, newer cabinets, newer floor coverings. Hardwood floors, porcelain bath floor, ceramic tile, whirlpool tub. Oversize aggregate patio and deck.

12. 2003-10-17
    listed $174,900 248-char remark

    Show marketing remark (248 chars)

    Over 2,000 finished sq.ft. Home has been comletely updated with newer 6 panel doors, newer apppliances, newer cabinets, newer floor coverings. Hardwood floors, porcelain bath floor, ceramic tile, whirlpool tub. Oversize aggregate patio and deck.

ⓘ 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: $2,696 · $225/mo
• Projected year-2 tax: $2,696 · $225/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 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,318
• − Mortgage interest: −$13,444
• − Property taxes: −$2,696
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,065
• − Management: −$3,065
• − Depreciation: −$6,982
• Taxable income: $7,865
• Est. tax owed @ 24.0%: −$1,888
• After-tax cash flow: $9,384/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: Rush City Public School District
• NCES district ID: 2732550
• Math proficiency: 37% ▼ -26.00%
• Reading proficiency: 47% ▼ -20.00%
• Median HH income: $60,045
• Composite: 37.08/100
• National rank: #4499
• State rank: #195 of 301 in MN

Livability — Rush City

• Score: 69/100
• State rank: #355
• US rank: #8328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rush City, MN
• Population (ZIP): 5,936

Population outlook (Chisago County) Hauer SSP2

• Today (2025): 55,187 people
• By 2030: 55,036 · -0.3%
• By 2040: 53,293 · -3.4%
• By 2050: 49,157 · -10.9%
• By 2075: 38,399 · -30.4%
• By 2100: 24,646 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 3% Asian 2% Native American 1%
• Common ancestry: Portuguese 10% Romanian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Chisago

• 2024 margin: Solid R (+31.4) · D 33.5% · R 64.9% · Other 1.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -10.3pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.2 2016: R+30.5 2012: R+12.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.49%
• Current HPI: 428.9296
• 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

+37.2% since first listed

9 events — show timeline

• 2026-05-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Coming Soon $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-20 Sold (Public Records) $180,300 Public Records
• 2004-01-29 Sold (MLS) $180,300 NORTHSTARMLS as Distributed by MLS Grid
• 2003-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-10-17 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,696 · +0.7% YoY. Source: county tax records.