145 N Bordson St · Appleton, MN 56208

$154,000

4 bd · 2.0 ba · 2,463 sqft · SingleFamily · 252 Days on market

Built 1997 7,187 sqft lot

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Why this score? — see what drove the D- 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 +12.3/30.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One of its kind, this all main floor living ranch-style home has all the features buyers are looking for and a location that equally rare. To start, there are no stairs to enter the home from garage. On the main floor there is a large family room, open kitchen and dining area, living room, 2 bedrooms, a full bathroom and laundry closet. The basement provides additional living space with 2 bedrooms, a 3/4 bathroom, family room with bar, ample storage and utility area. Then let's not forget the location, just 3 blocks from the hospital, 5 blocks from the elementary school and just 2 blocks from the Pomme De Terre River. Enjoy peaceful walks whether to the river, work, school, or evening strolls. The 2 car attached garage is insulated, heated and has a ramp into the home. There is additional parking using the alley, plus a storage shed for gardening or outdoor equipment. Planted in the front, buyers will discover a garden of native grasses. Shingles new 2023. Call for a showing today.

Key facts

• Formal dining room
• Wide hallways
• Bay window

Tags

• WIDE HALLWAYS
• WIDE DOORWAYS
• RAMP IN GARAGE
• MAIN LEVEL LAUNDRY
• FORMAL DINING ROOM
• BAY WINDOW

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 20 x 24)
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential property; One level; Block foundation; Asphalt roof (age 8 years or less)
• Construction: Block foundation; Asphalt roof; Wood exterior
• Exterior features: Covered patio/porch; Wood exterior; Corner lot; Storage shed

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 4 bedrooms (several on the main level)
• Bathrooms: 2 full bathrooms; Main floor full bath and a 3/4 bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement with egress window(s) and storage space; Partially wheelchair accessible with 36+ inch doors; Separate/formal dining room and eat-in kitchen; Stainless steel appliances
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $-27 ($-329/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (15.7% below list).
• Recommended offer: $130k (15.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#310 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Lac Qui Parle Valley School District (rural): math 44% / reading 44% proficiency, ranked #193 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 15 units permitted in Swift County in 2024 (0 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 $5k of value loss. Plan a longer hold.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $129,774 (15.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 9.9

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-26,686
• Equity at exit: $22,962

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-25,433
• Equity at exit: $13,315

Cash invested: $43,120 (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 56208

• Home prices YoY: -8.7%
• Active inventory: 18
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,298 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$181 /mo · $2,170/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-27

Break-even live

Break-even rent $1,332

Max offer price $149,164

Occupancy floor 97%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-13
   status Pending
2. 2026-04-24
   historical Contingent - Inspection
3. 2026-02-26
   price $154,000
4. 2025-12-01
   price $157,000
5. 2025-11-13
   status Active
6. 2025-11-06
   status Pending
7. 2025-11-04
   historical Contingent - Inspection
8. 2025-08-27
   listed $165,000 Active
9. 2024-05-16
   soldstatus $140,000 Sold 999-char remark

   Show marketing remark (999 chars)

   One of its kind, this all main floor living ranch-style home has all the features buyers are looking for and a location that equally rare. To start, there are no stairs to enter the home from garage. On the main floor there is a large family room, open kitchen and dining area, living room, 2 bedrooms, a full bathroom and laundry closet. The basement provides additional living space with 2 bedrooms, a 3/4 bathroom, family room with bar, ample storage and utility area. Then let's not forget the location, just 3 blocks from the hospital, 5 blocks from the elementary school and just 2 blocks from the Pomme De Terre River. Enjoy peaceful walks whether to the river, work, school, or evening strolls. The 2 car attached garage is insulated, heated and has a ramp into the home. There is additional parking using the alley, plus a storage shed for gardening or outdoor equipment. Planted in the front, buyers will discover a garden of native grasses. Shingles new 2023. Call for a showing today.

10. 2024-04-14
    status Pending 999-char remark

    Show marketing remark (999 chars)

    One of its kind, this all main floor living ranch-style home has all the features buyers are looking for and a location that equally rare. To start, there are no stairs to enter the home from garage. On the main floor there is a large family room, open kitchen and dining area, living room, 2 bedrooms, a full bathroom and laundry closet. The basement provides additional living space with 2 bedrooms, a 3/4 bathroom, family room with bar, ample storage and utility area. Then let's not forget the location, just 3 blocks from the hospital, 5 blocks from the elementary school and just 2 blocks from the Pomme De Terre River. Enjoy peaceful walks whether to the river, work, school, or evening strolls. The 2 car attached garage is insulated, heated and has a ramp into the home. There is additional parking using the alley, plus a storage shed for gardening or outdoor equipment. Planted in the front, buyers will discover a garden of native grasses. Shingles new 2023. Call for a showing today.

11. 2024-04-11
    listed $137,000 Active 999-char remark

    Show marketing remark (999 chars)

    One of its kind, this all main floor living ranch-style home has all the features buyers are looking for and a location that equally rare. To start, there are no stairs to enter the home from garage. On the main floor there is a large family room, open kitchen and dining area, living room, 2 bedrooms, a full bathroom and laundry closet. The basement provides additional living space with 2 bedrooms, a 3/4 bathroom, family room with bar, ample storage and utility area. Then let's not forget the location, just 3 blocks from the hospital, 5 blocks from the elementary school and just 2 blocks from the Pomme De Terre River. Enjoy peaceful walks whether to the river, work, school, or evening strolls. The 2 car attached garage is insulated, heated and has a ramp into the home. There is additional parking using the alley, plus a storage shed for gardening or outdoor equipment. Planted in the front, buyers will discover a garden of native grasses. Shingles new 2023. Call for a showing today.

12. 2022-03-18
    soldstatus $96,000
13. 2022-03-16
    soldstatus $96,000 Sold 574-char remark

    Show marketing remark (574 chars)

    Main level living is what you'll find in this fantastic property on North Bordson St in Appleton. The main level has two bedrooms, a living room, a family room, kitchen/dining and laundry! Enjoy all of this with an attached two stall garage. The lower level has a family room with built in bar and two additional bedrooms. There are quite a number of updates that have been installed as well. The primary bedroom has a walk in closet and there is great storage throughout. A spacious full bath on the main level and a 3/4 bath on the lower level. This house is worth a look!

14. 2022-03-11
    status Pending 574-char remark

    Show marketing remark (574 chars)

    Main level living is what you'll find in this fantastic property on North Bordson St in Appleton. The main level has two bedrooms, a living room, a family room, kitchen/dining and laundry! Enjoy all of this with an attached two stall garage. The lower level has a family room with built in bar and two additional bedrooms. There are quite a number of updates that have been installed as well. The primary bedroom has a walk in closet and there is great storage throughout. A spacious full bath on the main level and a 3/4 bath on the lower level. This house is worth a look!

15. 2022-02-17
    historical Contingent - Inspection 574-char remark

    Show marketing remark (574 chars)

    Main level living is what you'll find in this fantastic property on North Bordson St in Appleton. The main level has two bedrooms, a living room, a family room, kitchen/dining and laundry! Enjoy all of this with an attached two stall garage. The lower level has a family room with built in bar and two additional bedrooms. There are quite a number of updates that have been installed as well. The primary bedroom has a walk in closet and there is great storage throughout. A spacious full bath on the main level and a 3/4 bath on the lower level. This house is worth a look!

16. 2022-02-11
    listed $99,000 Active 574-char remark

    Show marketing remark (574 chars)

    Main level living is what you'll find in this fantastic property on North Bordson St in Appleton. The main level has two bedrooms, a living room, a family room, kitchen/dining and laundry! Enjoy all of this with an attached two stall garage. The lower level has a family room with built in bar and two additional bedrooms. There are quite a number of updates that have been installed as well. The primary bedroom has a walk in closet and there is great storage throughout. A spacious full bath on the main level and a 3/4 bath on the lower level. This house is worth a look!

17. 2019-12-10
    soldstatus $82,000
18. 2019-02-02
    historical
19. 2014-02-04
    soldstatus $76,000
20. 2014-02-04
    soldstatus $76,000
21. 2012-11-28
    listed $79,000
22. 2012-11-28
    listed $79,000
23. 2003-09-19
    soldstatus $69,500
24. 2003-09-08
    historical
25. 2003-07-30
    listed $79,900

ⓘ 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: $2,170 · $181/mo
• Projected year-2 tax: $2,170 · $181/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,573
• − Mortgage interest: −$8,626
• − Property taxes: −$2,170
• − Insurance: −$770
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$4,480
• Taxable loss: −$2,965
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $383/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: Lac Qui Parle Valley School District
• NCES district ID: 2700125
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $44,760
• Composite: 37.32/100
• National rank: #4444
• State rank: #193 of 301 in MN

Livability — Appleton

• Score: 71/100
• State rank: #310
• US rank: #6825

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Appleton, MN
• Population (ZIP): 2,097

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Pacific Islander 3%
• Common ancestry: Portuguese 39% Romanian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Other Asian/Pacific 3% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.19%
• Current HPI: 128.68
• 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

+92.7% since first listed

25 events — show timeline

• 2026-05-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $154,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $157,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-27 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-16 Sold (MLS) $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-11 Listed $137,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-18 Sold (Public Records) $96,000 Public Records
• 2022-03-16 Sold (MLS) $96,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-11 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-12-10 Sold (Public Records) $82,000 Public Records
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-04 Sold (MLS) $76,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-04 Sold (MLS) $76,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-28 Listed $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-28 Listed $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-19 Sold (MLS) $69,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-07-30 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $2,170 · +26.2% YoY. Source: county tax records.