520 6th St · Walnut Grove, MN 56180

$65,000

3 bd · 1.0 ba · 1,288 sqft · SingleFamily · 23 Days on market

Built 1940 6,969 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home is just located just a block away from the school and close to the park. Everything is in walking distance. 3bedroom 1 bath home ready to make it yours.

Key facts

• 6,969 sq ft lot
• Built 1940
• Listed 22 days

Property features AI

Finance

• Other: Lot size approximately 0.16 acres (50 x 140)
• Financial info: $404 annual taxes (2025)

Exterior

• Parking: Parking lot
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One story; Block foundation (28x46 foundation dimensions)
• Construction: Block foundation
• Exterior features: Vinyl exterior

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: One-level living; Partial block basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#66 in MN, #1,651 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Westbrook-Walnut Grove Schools (rural): math 42% / reading 42% proficiency, ranked #213 of 301 in MN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($449 loan paydown + $3k appreciation (5.2% local appreciation)).
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $13k; list at $65k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 1.79% ✓
• Cap rate: 15.81%
• Cash-on-cash: 33.98%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.2%
• Equity multiple: 3.67×
• Total profit: $48,649
• Equity at exit: $37,745

10-year hold

• IRR: 40.9%
• Equity multiple: 7.50×
• Total profit: $118,290
• Equity at exit: $65,908

Cash invested: $18,200 (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 56180

• Home prices YoY: 2.5%
• Active inventory: 11
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,161 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$34 /mo · $404/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $515

Break-even live

Break-even rent $508

Max offer price $65,000

Occupancy floor 51%

Sensitivity live

Price	-10% $552	-5% $534	+0% $515	+5% $497	+10% $479
Rent	-10% $424	-5% $470	+0% $515	+5% $561	+10% $607
Rate	-1.0pp $548	-0.5pp $532	base $515	+0.5pp $499	+1.0pp $481

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $65,000 Active 23 DOM
2. 2026-06-18
   days on market $65,000 Active 21 DOM
3. 2026-06-17
   days on market $65,000 Active 20 DOM
4. 2026-06-16
   days on market $65,000 Active 19 DOM
5. 2026-06-15
   days on market $65,000 Active 18 DOM
6. 2026-06-13
   days on market $65,000 Active 16 DOM
7. 2026-06-12
   days on market $65,000 Active 15 DOM
8. 2026-06-09
   days on market $65,000 Active 12 DOM
9. 2026-06-08
   days on market $65,000 Active 11 DOM
10. 2026-06-07
    days on market $65,000 Active 10 DOM
11. 2026-06-07
    days on market $65,000 Active 9 DOM
12. 2026-06-04
    days on market $65,000 Active 6 DOM
13. 2026-06-02
    days on market $65,000 Active 5 DOM
14. 2026-06-01
    days on market $65,000 Active 4 DOM
15. 2026-05-31
    days on market $65,000 Active 3 DOM
16. 2026-05-31
    days on market $65,000 Active 2 DOM
17. 2026-05-18
    historical $65,000
18. 2019-02-02
    historical 157-char remark

    Show marketing remark (157 chars)

    Home is just located just a block away from the school and close to the park. Everything is in walking distance. 3bedroom 1 bath home ready to make it yours.

19. 2018-12-21
    soldstatus $13,000 157-char remark

    Show marketing remark (157 chars)

    Home is just located just a block away from the school and close to the park. Everything is in walking distance. 3bedroom 1 bath home ready to make it yours.

20. 2018-12-21
    soldstatus $13,100

    Show marketing remark (157 chars)

    Home is just located just a block away from the school and close to the park. Everything is in walking distance. 3bedroom 1 bath home ready to make it yours.

21. 2018-08-08
    listed $17,900 157-char remark

    Show marketing remark (157 chars)

    Home is just located just a block away from the school and close to the park. Everything is in walking distance. 3bedroom 1 bath home ready to make it yours.

ⓘ 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: $404 · $34/mo
• Projected year-2 tax: $566 · $47/mo
• Expected delta: +$162/yr (+$14/mo · 40.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,929
• − Mortgage interest: −$3,641
• − Property taxes: −$404
• − Insurance: −$325
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$1,891
• Taxable income: $5,439
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $4,879/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: Westbrook-Walnut Grove Schools
• NCES district ID: 2700183
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $43,672
• Composite: 35.55/100
• National rank: #4906
• State rank: #213 of 301 in MN

Livability — Walnut Grove

• Score: 80/100
• State rank: #66
• US rank: #1651

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walnut Grove, MN
• Population (ZIP): 1,203

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Asian 29% Two or more races 9% Hispanic / Latino 4% Native American 3%
• Common ancestry: Portuguese 14% English 4% Scottish 2%
• Foreign-born: 17% · Philippines, Canada
• Languages at home: 74% English-only · Other Asian/Pacific 22% Spanish 3%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 210.5411
• 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

+263.1% since first listed

5 events — show timeline

• 2026-05-18 Coming Soon $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-21 Sold (Public Records) $13,100 Public Records
• 2018-12-21 Sold (MLS) $13,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-08 Listed $17,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-4.0%/yr

Latest (2025): $404 · +5.2% YoY. Source: county tax records.