1783 8th Ave · Newport, MN 55055

$120,000

3 bd · 1.0 ba · 1,020 sqft · Condo public records · 26 Days on market

Built 1983 $250/mo HOA · 14% of rent ↓ 8% since listing

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Why this score? — see what drove the B- 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 +26.5/30.0
• 1% rule +9.7/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IMMACULATE CONDO-NEWER EVERYTHING INCLUDING APPLIANCES, FLOOR COVERINGS, HEAT, AIR, LIGHTING, 6-PANEL OAK DOORS WITH OAK TRIM. ONLY ONE AVAILABLE IN DEVELOPMENT. GREAT BUY-WON'T LAST!

Key facts

• $250 HOA
• Garage
• Built 1983

Property features AI

Finance

• Other: Lot about 0.84 acres (dimensions ~188 x 195)
• HOA & community: Self-managed association (contact: Steve Gardner); Monthly association fee $250; Association fee covers hazard insurance, lawn care, grounds maintenance, parking, sewer, snow removal, and water

Exterior

• Parking: Parking lot; Detached garage stall dimensions 10x22 (1 garage space listed, 2 garage stall number)
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Attached residential property; One level; Main level finished area 1,008 (living area listed as 1,008); Entry/facing details not provided
• Construction: Frame construction; Asphalt roof; Block foundation; Built features include foundation area 1,008
• Exterior features: Vinyl exterior

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Wall-mounted cooling unit(s)
• Interior features: Ceiling fan(s); Paneled doors; Cooktop, Dishwasher, Disposal, Microwave, Range, Refrigerator
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 2.9% in Newport — 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 78/100 on livability (#111 in MN, #2,533 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: commute C-, amenities F.
• South Washington County School District (suburban): math 52% / reading 61% proficiency, ranked #40 of 301 in MN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 41 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,405 units permitted in Washington County in 2024 (121 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $95k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.36%
• DSCR: 1.51
• GRM: 5.7

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $989
• Equity at exit: $17,892

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $27,671
• Equity at exit: $10,375

Cash invested: $33,600 (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 55055

• Home prices YoY: -24.6%
• Active inventory: 41
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$629
• Tax from tax record: −$148 /mo · $1,776/yr
• Insurance: −$50
• HOA: −$250
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $318

Break-even live

Break-even rent $1,364

Max offer price $120,000

Occupancy floor 77%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1761 8th Ave Newport, MN	3.0	1.0	900	$1,900	$2.11	18d	1	0.03mi
1743 8th Ave Unit 1 Newport, MN	3.0	1.0	1100	$1,850	$1.68	43d	1	0.03mi
1650 10th Ave Newport, MN	1.0–2.0	1.0	700	$1,425	$2.04	2d	4	0.25mi
1624 10th Ave Newport, MN	2.0	1.0	750	$1,425	$1.90	18d	1	0.28mi
275 Red Rock Xing Newport, MN	1.0–3.0	1.0–2.0	965	$2,000	$2.07	1d	40	0.46mi
1340 8th Ave Unit 3 Newport, MN	2.0	1.0	700	$1,100	$1.57	5d	1	0.59mi
630 7th Ave Newport, MN	3.0	1.0	1100	$1,700	$1.55	24d	1	1.06mi
1615 Concord St S South Saint Paul, MN	3.0	2.0	1500	$2,200	$1.47	1d	1	1.40mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-05-05
   status Pending
2. 2026-04-23
   historical Contingent - Subject to Statutory Rescission
3. 2026-04-10
   listed $120,000 Active
4. 2026-04-09
   historical $120,000
5. 2010-11-12
   soldstatus $95,000
6. 2008-07-22
   soldstatus $91,800
7. 2008-07-08
   soldstatus $91,800 183-char remark

   Show marketing remark (183 chars)

   IMMACULATE CONDO-NEWER EVERYTHING INCLUDING APPLIANCES, FLOOR COVERINGS, HEAT, AIR, LIGHTING, 6-PANEL OAK DOORS WITH OAK TRIM. ONLY ONE AVAILABLE IN DEVELOPMENT. GREAT BUY-WON'T LAST!

8. 2008-06-18
   historical 183-char remark

   Show marketing remark (183 chars)

   IMMACULATE CONDO-NEWER EVERYTHING INCLUDING APPLIANCES, FLOOR COVERINGS, HEAT, AIR, LIGHTING, 6-PANEL OAK DOORS WITH OAK TRIM. ONLY ONE AVAILABLE IN DEVELOPMENT. GREAT BUY-WON'T LAST!

9. 2008-03-26
   listed $99,900 183-char remark

   Show marketing remark (183 chars)

   IMMACULATE CONDO-NEWER EVERYTHING INCLUDING APPLIANCES, FLOOR COVERINGS, HEAT, AIR, LIGHTING, 6-PANEL OAK DOORS WITH OAK TRIM. ONLY ONE AVAILABLE IN DEVELOPMENT. GREAT BUY-WON'T LAST!

10. 2008-03-24
    historical
11. 2008-01-11
    listed $104,900
12. 2007-07-20
    soldstatus $80,000
13. 2007-07-20
    soldstatus $85,000
14. 2006-04-27
    soldstatus $80,000
15. 2006-04-19
    historical
16. 2004-06-09
    listed $95,888
17. 1996-12-10
    soldstatus $130,000

ⓘ 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: $1,776 · $148/mo
• Projected year-2 tax: $1,776 · $148/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,195
• − Mortgage interest: −$6,722
• − Property taxes: −$1,776
• − Insurance: −$600
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − HOA: −$3,000
• − Depreciation: −$3,491
• Taxable income: $2,215
• Est. tax owed @ 24.0%: −$532
• After-tax cash flow: $3,285/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: South Washington County School District
• NCES district ID: 2733810
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $88,285
• Composite: 51.8/100
• National rank: #1670
• State rank: #40 of 301 in MN

Livability — Newport

• Score: 78/100
• State rank: #111
• US rank: #2533

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, MN
• City population: 4,460
• Population (ZIP): 4,460

Population outlook (Washington County) Hauer SSP2

• Today (2025): 278,554 people
• By 2030: 290,465 · +4.3%
• By 2040: 310,014 · +11.3%
• By 2050: 324,118 · +16.4%
• By 2075: 362,697 · +30.2%
• By 2100: 381,491 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Asian 9% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 12% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Dominican Republic, United Kingdom
• Languages at home: 88% English-only · Other Asian/Pacific 7% Spanish 4%

Political lean MEDSL · Washington

• 2024 margin: Lean D (+8.9) · D 53.5% · R 44.6% · Other 1.9%
• 2008→2024 swing: +4.6pp toward D · 2008: 4.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+9.2 2016: D+1.9 2012: D+0.8 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.66%
• Current HPI: 220.2825
• 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

-7.7% since first listed

17 events — show timeline

• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Coming Soon $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-12 Sold (Public Records) $95,000 Public Records
• 2008-07-22 Sold (Public Records) $91,800 Public Records
• 2008-07-08 Sold (MLS) $91,800 NORTHSTARMLS as Distributed by MLS Grid
• 2008-06-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-26 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-11 Listed $104,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-20 Sold (Public Records) $85,000 Public Records
• 2007-07-20 Sold (Public Records) $80,000 Public Records
• 2006-04-27 Sold (MLS) $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-09 Listed $95,888 NORTHSTARMLS as Distributed by MLS Grid
• 1996-12-10 Sold (Public Records) $130,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,776 · +12.8% YoY. Source: county tax records.