126 Tousley Ave N · New York Mills, MN 56567

$89,000

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 94 Days on market

Built 1900 0.34 ac lot $100/sqft · 48% below area

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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
• Appreciation +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +6.3/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2-bedroom, 1-bath home situated on a 0.34-acre lot in New York Mills. The property offers over 1,000 finished square feet, a detached 1-stall garage, enclosed front porch, and rear mudroom entry. Interior features include hardwood floors along with spacious living and dining areas. Unfinished basement provides additional storage space. City water and sewer services are connected. Convenient in-town location with access to local amenities, schools, and employment centers.

Key facts

• Rear mudroom entry
• Unfinished basement
• Hardwood floors

Tags

• ENCLOSED FRONT PORCH
• REAR MUDROOM ENTRY
• HARDWOOD FLOORS
• UNFINISHED BASEMENT
• CITY WATER AND SEWER SERVICES
• CONVENIENT IN-TOWN LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#112 in MN, #2,554 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• New York Mills Public School District (rural): math 41% / reading 47% proficiency, ranked #189 of 301 in MN (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($615 loan paydown + $7k appreciation (8.2% local appreciation)).
• At projected returns (8.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $11k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 7.3

CMA / ARV

• ARV (median comp): $205,484
• List price: $89,000
• Delta: -56.69%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

8.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.79×
• Total profit: $44,669
• Equity at exit: $68,855

10-year hold

• IRR: 22.1%
• Equity multiple: 6.01×
• Total profit: $124,764
• Equity at exit: $137,876

Cash invested: $24,920 (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 56567

• Home prices YoY: 3.5%
• Active inventory: 32
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$196 /mo · $2,350/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $106

Break-even live

Break-even rent $886

Max offer price $89,000

Occupancy floor 85%

Sensitivity live

Price	-10% $157	-5% $132	+0% $106	+5% $81	+10% $56
Rent	-10% $26	-5% $66	+0% $106	+5% $147	+10% $187
Rate	-1.0pp $151	-0.5pp $129	base $106	+0.5pp $83	+1.0pp $60

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-21
   days on market $89,000 Active 94 DOM
2. 2026-06-18
   days on market $89,000 Active 92 DOM
3. 2026-06-17
   days on market $89,000 Active 91 DOM
4. 2026-06-16
   days on market $89,000 Active 90 DOM
5. 2026-06-15
   days on market $89,000 Active 89 DOM
6. 2026-06-13
   days on market $89,000 Active 87 DOM
7. 2026-06-12
   days on market $89,000 Active 86 DOM
8. 2026-06-09
   days on market $89,000 Active 83 DOM
9. 2026-06-08
   days on market $89,000 Active 82 DOM
10. 2026-06-07
    days on market $89,000 Active 81 DOM
11. 2026-06-05
    days on market $89,000 Active 79 DOM
12. 2026-06-04
    days on market $89,000 Active 77 DOM
13. 2026-06-02
    days on market $89,000 Active 76 DOM
14. 2026-06-01
    days on market $89,000 Active 75 DOM
15. 2026-05-31
    days on market $89,000 Active 74 DOM
16. 2026-05-31
    days on market $89,000 Active 73 DOM
17. 2026-04-21
    price $94,900 475-char remark

    Show marketing remark (475 chars)

    2-bedroom, 1-bath home situated on a 0.34-acre lot in New York Mills. The property offers over 1,000 finished square feet, a detached 1-stall garage, enclosed front porch, and rear mudroom entry. Interior features include hardwood floors along with spacious living and dining areas. Unfinished basement provides additional storage space. City water and sewer services are connected. Convenient in-town location with access to local amenities, schools, and employment centers.

18. 2026-03-18
    listed $99,900 Active 475-char remark

    Show marketing remark (475 chars)

    2-bedroom, 1-bath home situated on a 0.34-acre lot in New York Mills. The property offers over 1,000 finished square feet, a detached 1-stall garage, enclosed front porch, and rear mudroom entry. Interior features include hardwood floors along with spacious living and dining areas. Unfinished basement provides additional storage space. City water and sewer services are connected. Convenient in-town location with access to local amenities, schools, and employment centers.

19. 2025-10-31
    historical
20. 2025-07-10
    price $99,900
21. 2025-07-07
    status Active
22. 2025-06-26
    historical Contingent - Inspection
23. 2025-06-20
    listed $126,000 Active
24. 2022-06-27
    soldstatus $111,300 Sold
25. 2022-06-27
    soldstatus $111,300
26. 2022-05-16
    status Pending
27. 2022-05-05
    status Active
28. 2022-04-27
    status Pending
29. 2022-03-22
    listed $105,000 Active
30. 2022-03-22
    listed $105,000
31. 2021-12-16
    soldstatus $77,500
32. 2021-12-10
    soldstatus $77,500 Sold
33. 2021-11-10
    status Pending
34. 2021-09-08
    price $119,900
35. 2021-08-10
    price $114,900
36. 2021-06-10
    listed $119,900 Active
37. 2007-02-21
    soldstatus $43,000

ⓘ 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: $2,350 · $196/mo
• Projected year-2 tax: $2,350 · $196/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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,243
• − Mortgage interest: −$4,985
• − Property taxes: −$2,350
• − Insurance: −$445
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$2,589
• Taxable loss: −$85
• Est. tax savings @ 24.0%: +$21
• After-tax cash flow: $1,297/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: New York Mills Public School District
• NCES district ID: 2723520
• Math proficiency: 41% ▼ -15.00%
• Reading proficiency: 47% ▼ -13.00%
• Median HH income: $47,845
• Composite: 37.59/100
• National rank: #4382
• State rank: #189 of 301 in MN

Livability — New York Mills

• Score: 78/100
• State rank: #112
• US rank: #2554

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: New York Mills, MN
• Population (ZIP): 3,247

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 10% Romanian 6% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 2%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.20%
• Current HPI: 244.2142
• 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

+120.7% since first listed

21 events — show timeline

• 2026-04-21 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-18 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-10 Price Changed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-20 Listed $126,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-27 Sold (MLS) $111,300 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-27 Sold (MLS) $111,300 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-22 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-22 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-16 Sold (Public Records) $77,500 Public Records
• 2021-12-10 Sold (MLS) $77,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-08 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-10 Price Changed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-10 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-21 Sold (Public Records) $43,000 Public Records

Property tax history

+12.4%/yr

Latest (2025): $2,350 · -3.1% YoY. Source: county tax records.