1707 7th St NE · Rochester, MN 55906

$344,000

5 bd · 2.5 ba · 1,904 sqft · SingleFamily public records · 45 Days on market

Built 1957 6,240 sqft lot $181/sqft · 13% below area Est $495k · 30% under

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Why this score? — see what drove the D- 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 +15.0/15.0
• Cash flow +5.6/30.0
• Rent growth +4.8/5.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come tour this Bright, Spacious 5 Bedroom, 2 ½ Bath Rambler in a Great NE walking friendly neighborhood! Main Level Features 3 Bedrooms, 1 ½ tiled Baths, Open Kitchen with Cooking Island that seats 4, Beautiful Hardwood floors and renovated Sunroom that walks out to a Large Deck. Lower Level has 2 more Large Bedrooms, a renovated tiled Bath, spacious Family room and a Laundry room with a mini-Kitchen, making it Perfect for Comfortable Living! This home is Move-in-Ready with fresh paint, updates, new flooring, new light fixtures, Ring doorbell, Kinetico water system and more!. Only a few steps away from Quarry Hill Park with its Nature Center and 329 acres of fields and trails. Right on the Mayo bus-line. Schedule your showing today!

Key facts

• Large deck
• Renovated sunroom
• Renovated tiled bath

Tags

• OPEN KITCHEN
• COOKING ISLAND
• HARDWOOD FLOORS
• RENOVATED SUNROOM
• LARGE DECK
• RENOVATED TILED BATH

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $344k.

Deal economics

• At list price, monthly cash flow is $-724 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (37.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (44.3% below list).
• Recommended offer: $192k (44.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.2%/yr); 218 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 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 $10k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $180k; list at $344k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,672 (44.3% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.56% ✗
• Cap rate: 3.77%
• Cash-on-cash: -9.01%
• DSCR: 0.60
• GRM: 15.0

CMA / ARV

• ARV (median comp): $494,571
• List price: $344,000
• Delta: -30.44%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.05×
• Total profit: $-91,756
• Equity at exit: $51,292

10-year hold

• IRR: -14.2%
• Equity multiple: 0.03×
• Total profit: $-93,371
• Equity at exit: $29,743

Cash invested: $96,320 (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 55906

• Home prices YoY: -33.0%
• Rents YoY: 9.2%
• Active inventory: 218
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,917 medium
• Mortgage (P&I): −$1,804
• Tax from tax record: −$290 /mo · $3,486/yr
• Insurance: −$143
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-724

Break-even live

Break-even rent $2,833

Max offer price $216,173

Occupancy floor —

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: $86,000
• Closing costs: $10,320
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
832 21st Ave SE Unit 21 Rochester, MN	4.0	2.0	1240	$1,495	$1.21	44d	1	1.12mi
826 21st Ave SE Rochester, MN	4.0	2.0	1250	$1,508	$1.21	13d	11	1.12mi
1321 3rd Ave NW Rochester, MN	4.0	2.0	2320	$2,295	$0.99	13d	1	1.41mi

Listing history 11 events

1. 2026-05-15
   status Pending 758-char remark

   Show marketing remark (758 chars)

   Come tour this Bright, Spacious 5 Bedroom, 2 ½ Bath Rambler in a Great NE walking friendly neighborhood! Main Level Features 3 Bedrooms, 1 ½ tiled Baths, Open Kitchen with Cooking Island that seats 4, Beautiful Hardwood floors and renovated Sunroom that walks out to a Large Deck. Lower Level has 2 more Large Bedrooms, a renovated tiled Bath, spacious Family room and a Laundry room with a mini-Kitchen, making it Perfect for Comfortable Living! This home is Move-in-Ready with fresh paint, updates, new flooring, new light fixtures, Ring doorbell, Kinetico water system and more!. Only a few steps away from Quarry Hill Park with its Nature Center and 329 acres of fields and trails. Right on the Mayo bus-line. Schedule your showing today!

2. 2026-05-06
   historical Contingent - Inspection 758-char remark

   Show marketing remark (758 chars)

   Come tour this Bright, Spacious 5 Bedroom, 2 ½ Bath Rambler in a Great NE walking friendly neighborhood! Main Level Features 3 Bedrooms, 1 ½ tiled Baths, Open Kitchen with Cooking Island that seats 4, Beautiful Hardwood floors and renovated Sunroom that walks out to a Large Deck. Lower Level has 2 more Large Bedrooms, a renovated tiled Bath, spacious Family room and a Laundry room with a mini-Kitchen, making it Perfect for Comfortable Living! This home is Move-in-Ready with fresh paint, updates, new flooring, new light fixtures, Ring doorbell, Kinetico water system and more!. Only a few steps away from Quarry Hill Park with its Nature Center and 329 acres of fields and trails. Right on the Mayo bus-line. Schedule your showing today!

3. 2026-04-25
   price $344,000 758-char remark

   Show marketing remark (758 chars)

   Come tour this Bright, Spacious 5 Bedroom, 2 ½ Bath Rambler in a Great NE walking friendly neighborhood! Main Level Features 3 Bedrooms, 1 ½ tiled Baths, Open Kitchen with Cooking Island that seats 4, Beautiful Hardwood floors and renovated Sunroom that walks out to a Large Deck. Lower Level has 2 more Large Bedrooms, a renovated tiled Bath, spacious Family room and a Laundry room with a mini-Kitchen, making it Perfect for Comfortable Living! This home is Move-in-Ready with fresh paint, updates, new flooring, new light fixtures, Ring doorbell, Kinetico water system and more!. Only a few steps away from Quarry Hill Park with its Nature Center and 329 acres of fields and trails. Right on the Mayo bus-line. Schedule your showing today!

4. 2026-03-31
   listed $350,000 Active 758-char remark

   Show marketing remark (758 chars)

   Come tour this Bright, Spacious 5 Bedroom, 2 ½ Bath Rambler in a Great NE walking friendly neighborhood! Main Level Features 3 Bedrooms, 1 ½ tiled Baths, Open Kitchen with Cooking Island that seats 4, Beautiful Hardwood floors and renovated Sunroom that walks out to a Large Deck. Lower Level has 2 more Large Bedrooms, a renovated tiled Bath, spacious Family room and a Laundry room with a mini-Kitchen, making it Perfect for Comfortable Living! This home is Move-in-Ready with fresh paint, updates, new flooring, new light fixtures, Ring doorbell, Kinetico water system and more!. Only a few steps away from Quarry Hill Park with its Nature Center and 329 acres of fields and trails. Right on the Mayo bus-line. Schedule your showing today!

5. 2016-08-17
   soldstatus $180,000
6. 2010-05-04
   soldstatus $124,000
7. 2010-04-26
   soldstatus $124,000 231-char remark

   Show marketing remark (231 chars)

   WOW! Don't miss this 3 bed, 2 bath ranch style home next to Quarry Hill Park. Steel siding, new roof, new furnace, water softner, hardwood floors, fenced in yard, & 3-season porch. One owner home, mint condition, move in ready.

8. 2010-04-26
   soldstatus $124,000

   Show marketing remark (231 chars)

   WOW! Don't miss this 3 bed, 2 bath ranch style home next to Quarry Hill Park. Steel siding, new roof, new furnace, water softner, hardwood floors, fenced in yard, & 3-season porch. One owner home, mint condition, move in ready.

9. 2010-03-23
   historical 231-char remark

   Show marketing remark (231 chars)

   WOW! Don't miss this 3 bed, 2 bath ranch style home next to Quarry Hill Park. Steel siding, new roof, new furnace, water softner, hardwood floors, fenced in yard, & 3-season porch. One owner home, mint condition, move in ready.

10. 2010-01-27
    listed $134,900

    Show marketing remark (231 chars)

    WOW! Don't miss this 3 bed, 2 bath ranch style home next to Quarry Hill Park. Steel siding, new roof, new furnace, water softner, hardwood floors, fenced in yard, & 3-season porch. One owner home, mint condition, move in ready.

11. 2010-01-27
    listed $134,900 231-char remark

    Show marketing remark (231 chars)

    WOW! Don't miss this 3 bed, 2 bath ranch style home next to Quarry Hill Park. Steel siding, new roof, new furnace, water softner, hardwood floors, fenced in yard, & 3-season porch. One owner home, mint condition, move in ready.

ⓘ 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: $3,486 · $290/mo
• Projected year-2 tax: $3,669 · $306/mo
• Expected delta: +$183/yr (+$15/mo · 5.3%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,001
• − Mortgage interest: −$19,269
• − Property taxes: −$3,486
• − Insurance: −$1,720
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$10,007
• Taxable loss: −$15,162
• Est. tax savings @ 24.0%: +$3,639
• After-tax cash flow: $-5,044/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 20,437
• Household income: $93,685
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 438.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Asian 8% Black 6% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Portuguese 14% Romanian 3% Italian 2%
• Foreign-born: 11% · China, Canada
• Languages at home: 86% English-only · Spanish 3% Chinese 3% Other Asian/Pacific 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.46%
• Current HPI: 252.9003
• Rent YoY: ▲ 9.18%
• Metro: Rochester, MN
• 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

+155.0% since first listed

11 events — show timeline

• 2026-05-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Price Changed $344,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-17 Sold (Public Records) $180,000 Public Records
• 2010-05-04 Sold (Public Records) $124,000 Public Records
• 2010-04-26 Sold (MLS) $124,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-26 Sold (MLS) $124,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-27 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-01-27 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.2%/yr

Latest (2025): $3,486 · +14.4% YoY. Source: county tax records.