106 Boulevard St · Belview, MN 56214

$124,900

4 bd · 2.0 ba · 1,433 sqft · SingleFamily · 20 Days on market

Built 1900 0.49 ac lot

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Appreciation +5.0/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy quiet country living on the edge of Belview with this charming 4 bedroom, 2 bath home situated on a nearly 1-acre private lot. Inside, you’ll find a spacious layout featuring a large kitchen perfect for gathering and entertaining. Major updates including siding, furnace, and central air provide peace of mind for years to come. The private setting offers plenty of space to relax and enjoy the outdoors, along with a 2+ car detached garage for extra storage and convenience. A great opportunity to enjoy small-town living with a country feel!

Key facts

• Private lot
• Country living
• Large kitchen

Tags

• PRIVATE LOT
• LARGE KITCHEN
• MAJOR UPDATES
• DETACHED GARAGE
• COUNTRY LIVING

Property features AI

Finance

• Other: Lot approximately 0.49 acres (dimensions 271 x 150)

Exterior

• Parking: Detached or attached 2-car garage with 20 x 24 dimensions
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property; One-and-a-half story; Above-grade finished living area of 1,433 (total living area listed separately)
• Construction: Frame construction; Asphalt roof; Block foundation; Built area includes 1,433 above grade and 1,140 below grade
• Exterior features: Patio; Vinyl exterior; Corner lot; City street frontage; Public maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Four bedrooms (some on upper level and main level)
• Bathrooms: One full bath (main floor); One half bath (basement)
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Formal separate dining room; Main-floor bedroom; Main-floor laundry; Basement with block foundation
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#672 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, crime D, schools F.
• Redwood Area School District (town): math 39% / reading 46% proficiency, ranked #207 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 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 $5k of equity ($864 loan paydown + $4k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, 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 20 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• 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: 12.8%
• Equity multiple: 1.73×
• Total profit: $25,529
• Equity at exit: $56,160

10-year hold

• IRR: 14.8%
• Equity multiple: 3.18×
• Total profit: $76,264
• Equity at exit: $86,550

Cash invested: $34,972 (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 56214

• Active inventory: 2
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $164

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 82%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $124,900 Active 20 DOM
2. 2026-06-17
   days on market $124,900 Active 19 DOM
3. 2026-06-16
   days on market $124,900 Active 18 DOM
4. 2026-06-15
   days on market $124,900 Active 17 DOM
5. 2026-06-13
   days on market $124,900 Active 15 DOM
6. 2026-06-12
   days on market $124,900 Active 14 DOM
7. 2026-06-09
   days on market $124,900 Active 11 DOM
8. 2026-06-08
   days on market $124,900 Active 10 DOM
9. 2026-06-07
   days on market $124,900 Active 9 DOM
10. 2026-06-05
    days on market $124,900 Active 7 DOM
11. 2026-06-04
    days on market $124,900 Active 5 DOM
12. 2026-06-02
    days on market $124,900 Active 4 DOM
13. 2026-06-01
    days on market $124,900 Active 3 DOM
14. 2026-05-31
    days on market $124,900 Active 2 DOM
15. 2026-05-29
    listed $124,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,607
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$3,633
• Taxable loss: −$18
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $1,976/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: Redwood Area School District
• NCES district ID: 2700182
• Math proficiency: 39% ▼ -14.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $45,326
• Composite: 36.1/100
• National rank: #4756
• State rank: #207 of 301 in MN

Livability — Belview

• Score: 62/100
• State rank: #672
• US rank: #16274

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: Belview, MN
• City population: 714
• Population (ZIP): 714

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 33% Romanian 3% Lithuanian 1%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3%

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: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-05-29 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-15.1%/yr

Latest (2025): $68 · +0.0% YoY. Source: county tax records.