205 N 2nd Ave E · Truman, MN 56088

$56,000

3 bd · 1.0 ba · 778 sqft · SingleFamily public records · 1 Days on market

Built 1951 8,276 sqft lot

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Why this score? — see what drove the A- 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Updating has been started for you on this 3 bedroom 1 bath house with breakers and siding already completed. The main floor consists of living room, kitchen, master bedroom, bathroom, and space for a possible laundry room. Upstairs you will find the remaining two bedrooms. This house is also located right across from the city park. Call agent to set up a showing today.

Key facts

• 8,276 sq ft lot
• Built 1951

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: No on-site parking
• Security:
• Utilities: City water (in street); City sewer (in street); Natural gas
• Home design: Residential property; One-and-a-half story; Block foundation
• Construction:
• Exterior features: Vinyl exterior

Interior

• Kitchen:
• Bedrooms: 3 bedrooms
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall cooling units
• Interior features: Full unfinished basement with sump pump
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).

Location & tenants

• Location reads 76/100 on livability (#150 in MN, #3,331 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Truman Public School District (rural): math 30% / reading 55% proficiency, ranked #343 of 467 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($387 loan paydown + $6k appreciation (10.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $13k; list at $56k implies a 327% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,000

Questions for the listing agent

1. Built in 1951 — 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: 1.87% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.44%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.1%
• Equity multiple: 4.67×
• Total profit: $57,523
• Equity at exit: $50,449

10-year hold

• IRR: 42.8%
• Equity multiple: 10.45×
• Total profit: $148,217
• Equity at exit: $108,796

Cash invested: $15,680 (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 56088

• Home prices YoY: 6.4%
• Active inventory: 16
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,048 medium
• Mortgage (P&I): −$294
• Tax from tax record: −$87 /mo · $1,044/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $424

Break-even live

Break-even rent $511

Max offer price $56,000

Occupancy floor 55%

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: $14,000
• Closing costs: $1,680
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-06-09
   listed $56,000 Pending 1 DOM

ⓘ 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: $1,044 · $87/mo
• Projected year-2 tax: $1,044 · $87/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 4/10 Moderate 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,576
• − Mortgage interest: −$3,137
• − Property taxes: −$1,044
• − Insurance: −$280
• − Repairs & maintenance: −$1,006
• − Management: −$1,006
• − Depreciation: −$1,629
• Taxable income: $4,473
• Est. tax owed @ 24.0%: −$1,074
• After-tax cash flow: $4,013/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: Truman Public School District
• NCES district ID: 2740680
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $51,077
• Composite: 38.94/100
• National rank: #8312
• State rank: #343 of 467 in MN

Livability — Truman

• Score: 76/100
• State rank: #150
• US rank: #3331

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: Truman, MN
• Population (ZIP): 2,063

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 9% Romanian 5% Scottish 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.26%
• Current HPI: 271.5076
• 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

+275.8% since first listed

11 events — show timeline

• 2026-06-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-08 Listed $56,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-29 Sold (Public Records) $13,100 Public Records
• 2014-05-27 Sold (MLS) $13,000 LSAR
• 2014-05-27 Sold (MLS) $13,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-27 Sold (MLS) $13,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-27 Listed $14,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-17 Listed $14,900 LSAR
• 2014-02-17 Listed $14,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+13.2%/yr

Latest (2025): $1,044 · +21.4% YoY. Source: county tax records.