911 Maple Ave

Bird Island, MN 55310

$69,900B+

3 bd · 1.0 ba · 927 sqft · Built 1920 · SingleFamily · Pending · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $996/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$91
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $330/mo
• Annual: $3,960/yr
• Cap rate: 11.96%
• Cash-on-cash: 20.23%
• DSCR: 1.90
• 1% rule: 1.43%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $70k).
• It's been on market 89 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($483 loan paydown + $6k appreciation (8.8% local appreciation)).
• Location reads 68/100 on livability (#401 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.
• Bird Island-Olivia-Lake Lillian (rural): math 41% / reading 44% proficiency, ranked #203 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 17 units permitted in Renville County in 2024 (0 in 5+ unit buildings).
• Renville County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.