341 Main St E

Trimont, MN 56176

$164,900D

3 bd · 1.0 ba · 1,443 sqft · Built 1910 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,175/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$164
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-100/mo
• Annual: $-1,200/yr
• Cap rate: 5.56%
• Cash-on-cash: -2.60%
• DSCR: 0.88
• 1% rule: 0.71%
• Cash to close: $46,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (28.7% below list).
• It's been on market 49 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (28.7% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#288 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Martin County West School District (rural): math 38% / reading 50% proficiency, ranked #187 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Trimont Elementary (math 42% / reading 52%, grade D-, #492 of 857 statewide, top 61%, 185 students, 48% FRL); Martin County West Junior High (math 27% / reading 37%, grade F, #188 of 258 statewide, top 73%, 95 students, 47% FRL); Martin County West Senior High (math 44% / reading 64%, grade C-, #87 of 471 statewide, top 22%, 224 students, 48% FRL) — zoned schools average 48% FRL vs 28% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 16y 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.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.