114 Iverson St W · St. Joseph, MN 56374

$217,000

3 bd · 2.0 ba · 1,776 sqft · Townhouse public records · 10 Days on market

Built 2006 2,352 sqft lot $150/mo HOA · 6% of rent ↓ 1% 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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Relax in your sunroom with no backyard neighbors looking out at a beautiful wooded area. Main floor has laundry and bedroom, while upper level has an additional 2 bedrooms and bath. Corner gas fireplace for long winter evenings. Enjoy all that St Joe has to offer, bike trails, parks and quaint downtown shops and restaurants. Roof only 1.5 years old.

Key facts

• Corner gas fireplace
• Sunroom
• Bike trails

Tags

• SUNROOM
• WOODED AREA
• CORNER GAS FIREPLACE
• BIKE TRAILS
• PARKS
• QUAINT DOWNTOWN SHOPS

Property features AI

Finance

• Other: Foundation area listed as 1,112
• HOA & community: Monthly association fee of $150 covering hazard insurance, lawn care, and snow removal; Association listed (contact: Laura Roxberg)

Exterior

• Parking: Attached garage with 2 spaces (garage dimensions approx. 24 x 21)
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers
• Home design: Attached residential property; Two levels; Entry level includes main floor living spaces
• Construction: Shingle roof (age 8 years or less); Slab foundation; Built area above grade finished: 1,688 sq. ft.
• Exterior features: Vinyl exterior; Patio; City street frontage; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Three bedrooms total (one main floor bedroom; two upper-level bedrooms)
• Bathrooms: Two full bathrooms (one on the main floor, one on the upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas fireplace in the living room; Sun room; Walk-in closet
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $217k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $217k).
• Cap rate 8.1% vs local median 2.9% in St. Joseph — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kennedy Community School (math 37% / reading 49%, grade F, #574 of 857 statewide, top 67%, 626 students, 53% FRL); North Junior High (math 17% / reading 32%, grade F, #219 of 258 statewide, top 86%, 708 students, 77% FRL); Apollo Senior High (math 27% / reading 47%, grade F, #282 of 471 statewide, top 63%, 1,225 students, 67% FRL) — zoned schools average 66% FRL vs 48% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 661 units permitted in Stearns County in 2024 (291 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.
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 18y 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.

Recommended offer $217,000

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. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 7.5

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-14,611
• Equity at exit: $32,355

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $14,004
• Equity at exit: $18,762

Cash invested: $60,760 (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 56374

• Active inventory: 65
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,425 medium
• Mortgage (P&I): −$1,138
• Tax from tax record: −$216 /mo · $2,594/yr
• Insurance: −$90
• HOA: −$150
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $321

Break-even live

Break-even rent $2,018

Max offer price $217,000

Occupancy floor 82%

Sensitivity live

Price	-10% $444	-5% $383	+0% $321	+5% $260	+10% $198
Rent	-10% $130	-5% $225	+0% $321	+5% $417	+10% $513
Rate	-1.0pp $430	-0.5pp $376	base $321	+0.5pp $265	+1.0pp $208

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: $54,250
• Closing costs: $6,510
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Keystone Ct Saint Joseph, MN	2.0	2.5	1830	$2,425	$1.33	45d	3	0.27mi

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-22
   days on market $217,000 Active 10 DOM
2. 2026-06-19
   days on market $217,000 Active 8 DOM
3. 2026-06-18
   days on market $217,000 Active 7 DOM
4. 2026-06-17
   days on market $217,000 Active 6 DOM
5. 2026-06-16
   days on market $217,000 Active 5 DOM
6. 2026-06-15
   days on market $217,000 Active 4 DOM
7. 2026-06-14
   days on market $217,000 Active 2 DOM
8. 2026-06-13
   remarks 351-char remark
9. 2026-06-13
   pricestatusdays on marketlisting id $217,000 Active 1 DOM
10. 2026-05-31
    days on market $219,900 Contingent - Subject to Statutory Rescission 24 DOM
11. 2026-05-30
    days on market $219,900 Contingent - Subject to Statutory Rescission 23 DOM
12. 2026-05-13
    status Active 327-char remark
13. 2026-05-11
    historical Contingent - Inspection 327-char remark
14. 2026-05-08
    listed $219,900 Active 327-char remark
15. 2026-05-07
    historical $219,900 327-char remark
16. 2009-09-21
    historical
17. 2009-04-13
    listed $99,900
18. 2008-12-31
    historical
19. 2008-08-08
    listed $235,000
20. 2007-02-07
    soldstatus $220,000

ⓘ 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: $2,594 · $216/mo
• Projected year-2 tax: $2,594 · $216/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,100
• − Mortgage interest: −$12,155
• − Property taxes: −$2,594
• − Insurance: −$1,085
• − Repairs & maintenance: −$2,328
• − Management: −$2,328
• − HOA: −$1,800
• − Depreciation: −$6,313
• Taxable income: $497
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $3,735/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: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — St. Joseph

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Joseph, MN
• Population (ZIP): 10,020

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 5% Portuguese 5% Iranian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 88% English-only · Arabic 2% Spanish 2%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.61%
• Current HPI: 184.4342
• 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

-1.4% since first listed

12 events — show timeline

• 2026-06-11 Listed $217,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-13 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-12-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-08 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-07 Sold (Public Records) $220,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,594 · +5.4% YoY. Source: county tax records.