390 N Broadway St · Vesta, MN 56292

$129,900

2 bd · 2.0 ba · 1,782 sqft · SingleFamily · 45 Days on market

Built 1903 6,969 sqft lot $73/sqft · at area comps Est $135k · at est. ↓ 4% since listing

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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 +14.9/30.0
• ARV discount +9.2/15.0
• Appreciation +8.5/10.0
• DSCR +4.5/10.0
• Schools +4.2/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this inviting and versatile property on a large corner lot! This well-maintained two-bedroom, two-bath home offers a bright, open-concept kitchen that flows into the main living space, ideal for both everyday living and entertaining. Enjoy outdoor living from both the front and back patios, giving you the perfect spots for morning coffee or evening relaxation. There is a detached one-stall garage plus a storage shed in the backyard.

Key facts

• Open-concept kitchen
• Storage shed
• Corner lot

Tags

• CORNER LOT
• OPEN-CONCEPT KITCHEN
• FRONT AND BACK PATIOS
• DETACHED GARAGE
• STORAGE SHED

Property features AI

Exterior

• Parking: Gravel parking; 1-car garage
• Utilities: City water connected; City sewer connected; 200+ amp electric service; Propane fuel
• Home design: Residential property; One and one-half levels; Entry level includes main level and lower level
• Construction: Metal roof; Block foundation
• Exterior features: Vinyl exterior; Patio; Storage shed; Corner lot with medium tree coverage; City street frontage, public maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed (not included)
• Bedrooms: 2 bedrooms (one located on the upper level, one on the upper level); Bonus room on lower level
• Bathrooms: 2 three-quarter bathrooms
• Heating & cooling: Forced air heat; Central air conditioning
• Interior features: Stainless steel appliances; Eat-in kitchen; Full basement
• Laundry & utility: Washer and dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $37 ($449/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 $106k (18.1% below list).
• Recommended offer: $106k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#608 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, health & safety D+.
• Wabasso Public School District (rural): math 50% / reading 48% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 5 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($898 loan paydown + $9k appreciation (6.9% local appreciation)).
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,419 (18.1% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.82% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $135,050
• List price: $129,900
• Delta: -3.81%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

6.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.29×
• Total profit: $47,074
• Equity at exit: $89,352

10-year hold

• IRR: 17.7%
• Equity multiple: 4.71×
• Total profit: $135,027
• Equity at exit: $169,131

Cash invested: $36,372 (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 56292

• Home prices YoY: 4.8%
• Active inventory: 5
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$68 /mo · $816/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $37

Break-even live

Break-even rent $1,017

Max offer price $129,900

Occupancy floor 91%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $129,900 Active 45 DOM
2. 2026-06-17
   days on market $129,900 Active 44 DOM
3. 2026-06-16
   days on market $129,900 Active 43 DOM
4. 2026-06-15
   days on market $129,900 Active 42 DOM
5. 2026-06-13
   days on market $129,900 Active 40 DOM
6. 2026-06-12
   days on market $129,900 Active 39 DOM
7. 2026-06-09
   days on market $129,900 Active 36 DOM
8. 2026-06-08
   days on market $129,900 Active 35 DOM
9. 2026-06-07
   pricedays on market $129,900 Active 34 DOM
10. 2026-06-07
    days on market $135,000 Active 33 DOM
11. 2026-06-04
    days on market $135,000 Active 30 DOM
12. 2026-06-02
    days on market $135,000 Active 29 DOM
13. 2026-06-01
    days on market $135,000 Active 28 DOM
14. 2026-05-31
    days on market $135,000 Active 27 DOM
15. 2026-05-31
    days on market $135,000 Active 26 DOM
16. 2026-05-04
    listed $135,000 Active 453-char remark

ⓘ 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: $816 · $68/mo
• Projected year-2 tax: $1,135 · $95/mo
• Expected delta: +$319/yr (+$27/mo · 39.1%)

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

Taxation est. · year 1

• Rental income: $12,770
• − Mortgage interest: −$7,276
• − Property taxes: −$816
• − Insurance: −$650
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$3,779
• Taxable loss: −$1,794
• Est. tax savings @ 24.0%: +$431
• After-tax cash flow: $879/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: Wabasso Public School District
• NCES district ID: 2741430
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $50,656
• Composite: 42.03/100
• National rank: #3331
• State rank: #130 of 301 in MN

Livability — Vesta

• Score: 64/100
• State rank: #608
• US rank: #14516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vesta, MN
• Population (ZIP): 582

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Black 1%
• Common ancestry: Portuguese 5% Iranian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.92%
• Current HPI: 151.9207
• 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

-3.8% since first listed

2 events — show timeline

• 2026-06-07 Price Changed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2025): $816 · +28.7% YoY. Source: county tax records.