1014 2nd St NW · Byron, MN 55920

$239,900

4 bd · 1.5 ba · 1,750 sqft · Townhouse public records · 8 Days on market

Built 2001 1,393 sqft lot $250/mo HOA · 10% of rent

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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 +15.9/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +5.4/10.0
• DSCR +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

'Mint', stunningly finished on 3 levels! Yet so affordable. 'Rare' find in growing Byron! 3 bedrooms on one level, only $95 per month association fees. Possible 4th bedroom in lower level! Possible contract for deed.

Key facts

• Fresh paint
• $250 HOA
• Garage

Tags

• FRESH PAINT
• LUXURY VINYL PLANK FLOORING
• MULTIPLE LIVING SPACES
• MAJOR COSMETIC UPDATES

Property features AI

Finance

• Financial info: FHA mortgage type indicated
• HOA & community: Part of Cheery Meadows Ninth Townhome Owners Association; Monthly association fee of $250 covering lawn care, grounds maintenance and snow removal

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential attached property; Two levels
• Construction: Block construction; Block foundation
• Exterior features: Vinyl exterior; Patio

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms (three on the upper level, one on the main level)
• Bathrooms: One full bathroom on the upper level; Half bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement with block construction, drain tile and sump pump; Kitchen/dining room combination; Family room; Living room
• Laundry & utility: Washer and dryer; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Cap rate 6.9% vs local median 2.5% in Byron — 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 83/100 on livability (#30 in MN, #956 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, health & safety D-.
• Byron Public School District (town): math 60% / reading 63% proficiency, ranked #24 of 301 in MN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 162 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $172k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $239,900

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. 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. 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?
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 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: 1.04% ✓
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 8.0

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-31,410
• Equity at exit: $35,770

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-17,290
• Equity at exit: $20,742

Cash invested: $67,172 (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 55920

• Home prices YoY: -21.4%
• Active inventory: 162
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$252 /mo · $3,028/yr
• Insurance: −$100
• HOA: −$250
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $115

Break-even live

Break-even rent $2,355

Max offer price $239,900

Occupancy floor 90%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 Byron Ave N Byron, MN	4.0	2.0	1800	$2,500	$1.39	13d	1	0.80mi

HOA detail

• Monthly dues: $250 · $3,000/yr

Listing history 8 events

1. 2026-06-19
   days on market $239,900 Active 8 DOM
2. 2026-06-18
   days on market $239,900 Active 7 DOM
3. 2026-06-17
   days on market $239,900 Active 6 DOM
4. 2026-06-16
   days on market $239,900 Active 5 DOM
5. 2026-06-15
   days on market $239,900 Active 4 DOM
6. 2026-06-14
   days on market $239,900 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $239,900 Active 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: $3,028 · $252/mo
• Projected year-2 tax: $3,028 · $252/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 · 15 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: $30,000
• − Mortgage interest: −$13,438
• − Property taxes: −$3,028
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$3,000
• − Depreciation: −$6,979
• Taxable loss: −$2,445
• Est. tax savings @ 24.0%: +$587
• After-tax cash flow: $1,962/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: Byron Public School District
• NCES district ID: 2707350
• Math proficiency: 60% ▼ -14.00%
• Reading proficiency: 63% ▼ -13.00%
• Median HH income: $78,267
• Composite: 55.01/100
• National rank: #1296
• State rank: #24 of 301 in MN

Livability — Byron

• Score: 83/100
• State rank: #30
• US rank: #956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Byron, MN
• Population (ZIP): 8,747

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 3% Two or more races 3% Asian 2% Black 1%
• Common ancestry: Portuguese 16% Romanian 7% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.79%
• Current HPI: 260.7113
• 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

+83.3% since first listed

14 events — show timeline

• 2026-06-11 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-05-25 Sold (Public Records) $172,500 Public Records
• 2018-05-25 Sold (MLS) $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-03 Listed $178,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-30 Sold (MLS) $112,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-30 Sold (MLS) $112,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-16 Listed $116,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-16 Listed $116,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-09 Sold (Public Records) $131,000 Public Records
• 2005-07-28 Sold (MLS) $128,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-01-25 Listed $130,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $3,028 · -3.5% YoY. Source: county tax records.