400 W Main St · Belle Plaine, MN 56011

$194,900

5 bd · 1.0 ba · 1,145 sqft · SingleFamily public records · 2 Days on market

Built 1900 0.33 ac lot

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Why this score? — see what drove the C- 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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.0/10.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Massive Potential on a Corner Lot | 5-Bed Historic Opportunity Bring your vision and tools to this expansive 5-bedroom, 1-bath home in the heart of Belle Plaine. Built in 1900, this residence sits on a generous 14,375 sq. ft. lot, offering significant space for outdoor living, gardening, or future expansion. While the home requires a total renovation, the bones and scale provide a rare canvas for investors or DIY enthusiasts looking to restore a piece of local history. Property Highlights: Spacious Layout: 5 bedrooms offer plenty of flexibility for a large family, home offices, or creative spaces. Large Lot: Nearly a third of an acre with mature trees and ample room for recreation. Detache

Key facts

• Generous lot
• Prime location
• Corner lot

Tags

• CORNER LOT
• GENEROUS LOT
• OUTDOOR LIVING
• DETACHED GARAGE
• PRIME LOCATION

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; One and one-half story
• Construction: Block foundation; Wood exterior
• Exterior features: Wood exterior; Lot roughly 0.33 acres (approx. 100 x 142)

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Unfinished basement; Block foundation

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/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 $194k (0.4% below list).
• Recommended offer: $194k (0.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 2.1% in Belle Plaine — 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 77/100 on livability (#125 in MN, #2,843 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Belle Plaine Public School District (town): math 43% / reading 55% proficiency, ranked #103 of 301 in MN (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 106 active listings in the ZIP; 699 units permitted in Scott County in 2024 (84 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 $6k of value loss. Plan a longer hold.
• Scott County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,171 (0.4% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 8.4

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-16,773
• Equity at exit: $29,060

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $4,468
• Equity at exit: $16,851

Cash invested: $54,572 (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 56011

• Home prices YoY: -22.1%
• Active inventory: 106
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,942 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$198 /mo · $2,378/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $232

Break-even live

Break-even rent $1,647

Max offer price $194,900

Occupancy floor 83%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $194,900 Coming Soon 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $194,900 Coming Soon 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: $2,378 · $198/mo
• Projected year-2 tax: $2,378 · $198/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,301
• − Mortgage interest: −$10,917
• − Property taxes: −$2,378
• − Insurance: −$974
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$5,670
• Taxable loss: −$367
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $2,878/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: Belle Plaine Public School District
• NCES district ID: 2704050
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $72,851
• Composite: 44.1/100
• National rank: #2870
• State rank: #103 of 301 in MN

Livability — Belle Plaine

• Score: 77/100
• State rank: #125
• US rank: #2843

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belle Plaine, MN
• City population: 9,672
• Population (ZIP): 9,672

Population outlook (Scott County) Hauer SSP2

• Today (2025): 165,899 people
• By 2030: 177,290 · +6.9%
• By 2040: 199,019 · +20.0%
• By 2050: 216,883 · +30.7%
• By 2075: 256,099 · +54.4%
• By 2100: 276,434 · +66.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 3%
• Common ancestry: Portuguese 9% Romanian 5% Lithuanian 4%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Scott

• 2024 margin: Lean R (+8.5) · D 44.8% · R 53.3% · Other 1.9%
• 2008→2024 swing: +2.7pp toward D · 2008: -11.2pp · 2024: -8.5pp
• All cycles: 2024: R+8.5 2020: R+6.6 2016: R+15.4 2012: R+14.8 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.57%
• Current HPI: 238.8921
• 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

1 event — show timeline

• 2026-06-16 Coming Soon $194,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2026): $2,378 · +12.2% YoY. Source: county tax records.