915 7th St #9

Jordan, MN 55352

$164,900C

2 bd · 1.0 ba · 886 sqft · Built 2000 · Townhouse · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,132/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$280
• Vac / Maint / Mgmt: −$448
• Net cashflow: $264/mo
• Annual: $3,173/yr
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• 1% rule: 1.29%
• Cash to close: $46,172

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $165k. Condition is rated average.
• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 39 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#298 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Jordan Public School District (town): math 46% / reading 56% proficiency, ranked #79 of 301 in MN (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 155 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 699 units permitted in Scott County in 2024 (84 in 5+ unit buildings).
• Scott County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 8.2% vs local median 1.9% in Jordan — 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.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: bathroom fixtures — dated and in need of updating
• Minor: exterior siding — moderate wear