506 3rd ST West St · Argyle, MN 56713

$54,900

2 bd · 1.0 ba · 540 sqft · SingleFamily public records · 118 Days on market

Built 1895 7,000 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
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Cozy 2 bedroom, 1 bath home with a detached garage. Featuring a newer roof and new windows. Comfortable layout with plenty of natural light and a warm welcoming feel throughout. A great place to settle in and make your own in a friendly small town setting.

Key facts

• Newer roof
• Natural light
• New windows

Tags

• NEWER ROOF
• NEW WINDOWS
• NATURAL LIGHT
• FRIENDLY SMALL TOWN SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($856 rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#349 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, health & safety D+, amenities F.
• Stephen-Argyle Central Schools (rural): math 55% / reading 60% proficiency, ranked #170 of 467 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 9 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Marshall County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $55k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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. 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.
7. 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.
8. 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: 1.56% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.28%
• DSCR: 2.08
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 2.72×
• Total profit: $26,427
• Equity at exit: $24,685

10-year hold

• IRR: 30.8%
• Equity multiple: 5.32×
• Total profit: $66,330
• Equity at exit: $38,043

Cash invested: $15,372 (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 56713

• Active inventory: 5
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $856 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$54 /mo · $654/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $311

Break-even live

Break-even rent $462

Max offer price $54,900

Occupancy floor 59%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $54,900 Active 118 DOM
2. 2026-06-17
   days on market $54,900 Active 117 DOM
3. 2026-06-16
   days on market $54,900 Active 116 DOM
4. 2026-06-15
   days on market $54,900 Active 115 DOM
5. 2026-06-13
   days on market $54,900 Active 113 DOM
6. 2026-06-12
   days on market $54,900 Active 112 DOM
7. 2026-06-09
   days on market $54,900 Active 109 DOM
8. 2026-06-08
   days on market $54,900 Active 108 DOM
9. 2026-06-07
   days on market $54,900 Active 107 DOM
10. 2026-06-05
    days on market $54,900 Active 105 DOM
11. 2026-06-04
    days on market $54,900 Active 103 DOM
12. 2026-06-02
    days on market $54,900 Active 102 DOM
13. 2026-06-01
    days on market $54,900 Active 101 DOM
14. 2026-05-31
    days on market $54,900 Active 100 DOM
15. 2026-05-31
    days on market $54,900 Active 99 DOM
16. 2026-03-16
    price $54,900 256-char remark

    Show marketing remark (256 chars)

    Cozy 2 bedroom, 1 bath home with a detached garage. Featuring a newer roof and new windows. Comfortable layout with plenty of natural light and a warm welcoming feel throughout. A great place to settle in and make your own in a friendly small town setting.

17. 2026-02-20
    listed $59,990 Active 256-char remark

    Show marketing remark (256 chars)

    Cozy 2 bedroom, 1 bath home with a detached garage. Featuring a newer roof and new windows. Comfortable layout with plenty of natural light and a warm welcoming feel throughout. A great place to settle in and make your own in a friendly small town setting.

18. 2008-12-26
    soldstatus $14,900
19. 2004-05-19
    soldstatus $14,900

ⓘ 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: $654 · $54/mo
• Projected year-2 tax: $654 · $54/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,273
• − Mortgage interest: −$3,075
• − Property taxes: −$654
• − Insurance: −$274
• − Repairs & maintenance: −$822
• − Management: −$822
• − Depreciation: −$1,597
• Taxable income: $3,028
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $3,005/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: Stephen-Argyle Central Schools
• NCES district ID: 2700127
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $54,566
• Composite: 51.14/100
• National rank: #3775
• State rank: #170 of 467 in MN

Livability — Argyle

• Score: 70/100
• State rank: #349
• US rank: #8141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Argyle, MN
• Population (ZIP): 866

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 9,191 people
• By 2030: 9,078 · -1.2%
• By 2040: 8,815 · -4.1%
• By 2050: 8,464 · -7.9%
• By 2075: 8,156 · -11.3%
• By 2100: 7,171 · -22.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Portuguese 37% Romanian 23% Lithuanian 21%
• Foreign-born: 1% · Canada

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+51.7) · D 23.4% · R 75.1% · Other 1.4%
• 2008→2024 swing: -52.2pp toward R · 2008: 0.6pp · 2024: -51.7pp
• All cycles: 2024: R+51.7 2020: R+47.5 2016: R+41.4 2012: R+12.1 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+268.5% since first listed

4 events — show timeline

• 2026-03-16 Price Changed $54,900 GFAAR
• 2026-02-20 Listed $59,990 GFAAR
• 2008-12-26 Sold (Public Records) $14,900 Public Records
• 2004-05-19 Sold (Public Records) $14,900 Public Records

Property tax history

+1.5%/yr

Latest (2025): $654 · +0.3% YoY. Source: county tax records.