1045 Jorgenson St SE · Hutchinson, MN 55350

$299,000

3 bd · 2.0 ba · 1,996 sqft · SingleFamily public records · 22 Days on market

Built 1960 0.32 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tri-Level Home offers formal dining room, hardwood floors, ceramic tile, cove ceiling over living room, lower level family room, office, patio, mature treed lot and more.

Key facts

• Newer roof
• Newer windows
• Updated kitchen

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• SPACIOUS FAMILY ROOM
• NEWER WINDOWS
• NEWER ROOF
• PAVER PATIO

Property features AI

Exterior

• Parking: Attached insulated garage with garage door opener; Concrete driveway; 2-car garage (approximately 20x23)
• Utilities: City water connected; City sewer connected; Natural gas service; 100 amp electrical service with circuit breakers
• Home design: Residential property; Three-level split layout; Main entry on main level; Above-ground and below-ground finished living areas
• Construction: Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Deck; Patio; Stone and wood exterior accents; Chain link fencing; Storage shed; Medium tree coverage; Irregular lot shape; City street frontage

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms (three bedrooms on the upper level; one bedroom on the lower level)
• Bathrooms: One full bathroom on the upper level; Half bathroom on the main floor; Double sink
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished lower level; Partial finished basement with crawl space and sump pump; Separate/formal dining room; Kitchen window; Water softener (owned)
• Laundry & utility: Washer and dryer (hookup in unit); Laundry in basement with utility sink; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (23.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (33.6% below list).
• Recommended offer: $198k (33.6% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.1% in Hutchinson — 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 80/100 on livability (#72 in MN, #1,744 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Hutchinson Public School District (town): math 56% / reading 56% proficiency, ranked #62 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hutchinson West Elementary (426 students, 42% FRL); Hutchinson Middle (math 53% / reading 59%, grade B-, #41 of 258 statewide, top 16%, 565 students, 37% FRL); Hutchinson Senior High (math 52% / reading 62%, grade C, #64 of 471 statewide, top 16%, 908 students, 31% FRL).
• Market conditions: 115 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 57 units permitted in McLeod County in 2024 (0 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 $9k of value loss. Plan a longer hold.
• McLeod 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 22 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $133k; list at $299k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $198,413 (33.6% 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. Built in 1960 — 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 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. 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: 0.66% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.60%
• DSCR: 0.75
• GRM: 12.6

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: -25.9%
• Equity multiple: 0.12×
• Total profit: $-73,376
• Equity at exit: $44,582

10-year hold

• IRR: -22.6%
• Equity multiple: -0.15×
• Total profit: $-96,091
• Equity at exit: $25,852

Cash invested: $83,720 (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 55350

• Home prices YoY: -30.6%
• Active inventory: 115
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,984 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$266 /mo · $3,188/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-391

Break-even live

Break-even rent $2,479

Max offer price $229,968

Occupancy floor —

Sensitivity live

Price	-10% $-222	-5% $-306	+0% $-391	+5% $-475	+10% $-560
Rent	-10% $-548	-5% $-469	+0% $-391	+5% $-312	+10% $-234
Rate	-1.0pp $-240	-0.5pp $-315	base $-391	+0.5pp $-468	+1.0pp $-547

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1220 Sunset St SW Hutchinson, MN	2.0	2.0	1230	$1,675	$1.36	45d	1	0.86mi
550 Lincoln Ave SW Hutchinson, MN	2.0	2.0	1800	$1,875	$1.04	45d	1	1.16mi
1120 Lewis Ave SW Hutchinson, MN	3.0	3.0	2224	$2,495	$1.12	45d	1	1.49mi

Listing history 9 events

1. 2026-05-01
   status Pending
2. 2026-04-27
   historical Contingent - Inspection
3. 2026-04-09
   listed $299,000 Active
4. 2010-06-30
   soldstatus $132,650 170-char remark

   Show marketing remark (170 chars)

   Tri-Level Home offers formal dining room, hardwood floors, ceramic tile, cove ceiling over living room, lower level family room, office, patio, mature treed lot and more.

5. 2010-05-13
   historical 170-char remark

   Show marketing remark (170 chars)

   Tri-Level Home offers formal dining room, hardwood floors, ceramic tile, cove ceiling over living room, lower level family room, office, patio, mature treed lot and more.

6. 2010-04-14
   listed $129,900 170-char remark

   Show marketing remark (170 chars)

   Tri-Level Home offers formal dining room, hardwood floors, ceramic tile, cove ceiling over living room, lower level family room, office, patio, mature treed lot and more.

7. 2004-03-01
   soldstatus $135,000 209-char remark

   Show marketing remark (209 chars)

   THREE LEVEL HOME WITH HARDWOOD FLOORS, FRENCH DOORS TO PATIO, BUILT IN STORAGE/CLOSETS IN HALL. ALL APPLIANCES STAY. NEW ROOF IN 2002. HOME WARRANTY PLAN INCLUDED. NICE LOCATION CLOSE TO SHOPPING AND HOSPITAL.

8. 2003-09-22
   listed $139,900 209-char remark

   Show marketing remark (209 chars)

   THREE LEVEL HOME WITH HARDWOOD FLOORS, FRENCH DOORS TO PATIO, BUILT IN STORAGE/CLOSETS IN HALL. ALL APPLIANCES STAY. NEW ROOF IN 2002. HOME WARRANTY PLAN INCLUDED. NICE LOCATION CLOSE TO SHOPPING AND HOSPITAL.

9. 2003-01-21
   historical 209-char remark

   Show marketing remark (209 chars)

   THREE LEVEL HOME WITH HARDWOOD FLOORS, FRENCH DOORS TO PATIO, BUILT IN STORAGE/CLOSETS IN HALL. ALL APPLIANCES STAY. NEW ROOF IN 2002. HOME WARRANTY PLAN INCLUDED. NICE LOCATION CLOSE TO SHOPPING AND HOSPITAL.

ⓘ 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: $3,188 · $266/mo
• Projected year-2 tax: $3,268 · $272/mo
• Expected delta: +$80/yr (+$7/mo · 2.5%)

ⓘ 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 ≥99°F today · 14 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: $23,810
• − Mortgage interest: −$16,749
• − Property taxes: −$3,188
• − Insurance: −$1,495
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − Depreciation: −$8,698
• Taxable loss: −$10,130
• Est. tax savings @ 24.0%: +$2,431
• After-tax cash flow: $-2,258/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: Hutchinson Public School District
• NCES district ID: 2714970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 56% ▼ -10.00%
• Median HH income: $56,261
• Composite: 48.36/100
• National rank: #2143
• State rank: #62 of 301 in MN

Livability — Hutchinson

• Score: 80/100
• State rank: #72
• US rank: #1744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hutchinson, MN
• City population: 18,567
• Population (ZIP): 18,567

Population outlook (McLeod County) Hauer SSP2

• Today (2025): 34,517 people
• By 2030: 33,442 · -3.1%
• By 2040: 30,815 · -10.7%
• By 2050: 27,695 · -19.8%
• By 2075: 21,923 · -36.5%
• By 2100: 17,237 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Portuguese 13% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · McLeod

• 2024 margin: Solid R (+38.0) · D 30.2% · R 68.1% · Other 1.7%
• 2008→2024 swing: -19.6pp toward R · 2008: -18.3pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+36.2 2016: R+38.4 2012: R+22.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.48%
• Current HPI: 203.0298
• 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

+113.7% since first listed

9 events — show timeline

• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listed $299,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-30 Sold (MLS) $132,650 NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-14 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-03-01 Sold (MLS) $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-22 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-01-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $3,188 · +0.6% YoY. Source: county tax records.