606 E Main St · Marshall, MN 56258

$148,900

3 bd · 2.0 ba · 1,332 sqft · SingleFamily · 220 Days on market

Built 1957 7,884 sqft lot

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Why this score? — see what drove the D 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 +14.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +4.1/5.0
• Schools +4.0/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

Key facts

• Flexible space
• Fresh paint
• Spacious backyard

Tags

• FRESH PAINT
• NEW CARPET
• SPACIOUS BACKYARD
• HANDY SHED
• FLEXIBLE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $38 ($450/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (15.4% below list).
• Recommended offer: $126k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% in Marshall — 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 82/100 on livability (#47 in MN, #1,265 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, commute F.
• Marshall Public School District (town): math 46% / reading 48% proficiency, ranked #163 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 212 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Lyon County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lyon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $149k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,024 (15.4% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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 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: 0.85% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.8

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-21,762
• Equity at exit: $22,201

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-15,972
• Equity at exit: $12,874

Cash invested: $41,692 (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 56258

• Home prices YoY: -33.1%
• Active inventory: 212
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $38

Break-even live

Break-even rent $1,213

Max offer price $148,900

Occupancy floor 92%

Sensitivity live

Price	-10% $122	-5% $80	+0% $38	+5% $-5	+10% $-47
Rent	-10% $-62	-5% $-12	+0% $38	+5% $87	+10% $137
Rate	-1.0pp $113	-0.5pp $75	base $38	+0.5pp $-1	+1.0pp $-40

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: $37,225
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 W Lyon St Unit 100 Marshall, MN	2.0	1.0	950	$1,350	$1.42	44d	1	0.64mi
1010 Clarice Ave Unit 102 Marshall, MN	2.0	1.0	957	$1,395	$1.46	44d	1	0.68mi
1010 Clarice Ave Unit 201 Marshall, MN	2.0	1.0	970	$1,325	$1.37	44d	1	0.68mi
231 Legion Field Rd Unit 104 Marshall, MN	2.0	1.0	980	$1,495	$1.53	44d	1	1.27mi

Listing history 7 events

1. 2026-05-10
   status Pending 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

2. 2026-04-20
   price $148,900 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

3. 2026-04-07
   status Active 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

4. 2026-03-31
   historical Contingent - Inspection 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

5. 2025-10-23
   price $159,500 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

6. 2025-10-02
   listed $168,500 Active 608-char remark

   Show marketing remark (608 chars)

   Welcome to 606 E Main Street! This charming 1½ story home has fresh paint and new carpet throughout, offering plenty of space with 3 bedrooms, 2 baths, and room to grow in the basement. The main floor features a cozy family room that flows into the dining area and kitchen, plus 2 bedrooms and a full bath. Upstairs, you’ll find another bedroom and full bath, while the basement offers flexible space for extra bedrooms, a family room, or both. Outside, enjoy a spacious backyard with a handy shed. Conveniently located near shops and restaurants, this home is move-in ready and waiting for you!

7. 2004-01-01
   soldstatus $50,000

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,525 · $127/mo
• Expected delta: +$143/yr (+$12/mo · 10.3%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,123
• − Mortgage interest: −$8,341
• − Property taxes: −$1,382
• − Insurance: −$744
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$4,332
• Taxable loss: −$2,096
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $953/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: Marshall Public School District
• NCES district ID: 2718940
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 48% ▼ -11.00%
• Median HH income: $47,798
• Composite: 40.09/100
• National rank: #3807
• State rank: #163 of 301 in MN

Livability — Marshall

• Score: 82/100
• State rank: #47
• US rank: #1265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshall, MN
• County: Lyon County · 15,888 people
• City population: 15,888
• Metro: Marshall, MN
• Population (ZIP): 15,888
• Household income: $72,731
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 483.0

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 25,369 people
• By 2030: 24,890 · -1.9%
• By 2040: 23,599 · -7.0%
• By 2050: 22,383 · -11.8%
• By 2075: 20,076 · -20.9%
• By 2100: 18,901 · -25.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 7% Asian 6% Black 4% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 14% English 6% Lithuanian 6%
• Foreign-born: 8% · Canada, Philippines
• Languages at home: 88% English-only · Spanish 6% Other Asian/Pacific 4% Other Indo-European 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+31.8) · D 33.1% · R 64.9% · Other 2.0%
• 2008→2024 swing: -30.2pp toward R · 2008: -1.6pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+25.9 2016: R+28.3 2012: R+9.2 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.90%
• Current HPI: 177.471
• Rent YoY: —
• Metro: Marshall, MN
• 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

+197.8% since first listed

7 events — show timeline

• 2026-05-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $148,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-23 Price Changed $159,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-02 Listed $168,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-01-01 Sold (Public Records) $50,000 Public Records

Property tax history

+5.9%/yr

Latest (2026): $1,382 · +8.5% YoY. Source: county tax records.