202 Main St E · Norwood Young America, MN 55397

$310,000

8 bd · 4.0 ba · 1,800 sqft · MultiFamily public records · 70 Days on market

Built 1860 7,840 sqft 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great multifamily investment opportunity, fully rented! Well maintained 4Plex On a large corner lot in downtown Norwood Young America. Two units on the main floor. New furnace & AC on 2022, updated electrical system on 2021. 2025 New water heater. Easy access to highways & schools. 2 parking space for each unit. Plenty of on & off-street parking. 24 hrs. notice for showings.

Key facts

• New furnace
• Large corner lot
• New water heater

Tags

• FULLY RENTED
• LARGE CORNER LOT
• NEW FURNACE
• NEW AC
• UPDATED ELECTRICAL SYSTEM
• NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive. Per door: $254/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $291k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#448 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Central Public School District (town): math 43% / reading 56% proficiency, ranked #102 of 301 in MN (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 18 active listings in the ZIP; 682 units permitted in Carver County in 2024 (6 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.
• Carver County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 27y ago; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $291,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 7.9

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: -5.5%
• Equity multiple: 0.79×
• Total profit: $-17,917
• Equity at exit: $46,222

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $26,035
• Equity at exit: $26,803

Cash invested: $86,800 (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 55397

• Home prices YoY: -20.9%
• Active inventory: 18
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $3,271 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$322 /mo · $3,864/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $507

Break-even live

Break-even rent $2,629

Max offer price $310,000

Occupancy floor 79%

Sensitivity live

Price	-10% $683	-5% $595	+0% $507	+5% $420	+10% $332
Rent	-10% $249	-5% $378	+0% $507	+5% $636	+10% $766
Rate	-1.0pp $663	-0.5pp $586	base $507	+0.5pp $427	+1.0pp $345

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,270
Total (2 units)			$3,271

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $310,000 Active 70 DOM
2. 2026-06-17
   days on market $310,000 Active 69 DOM
3. 2026-06-16
   days on market $310,000 Active 68 DOM
4. 2026-06-15
   days on market $310,000 Active 67 DOM
5. 2026-06-13
   days on market $310,000 Active 65 DOM
6. 2026-06-13
   days on market $310,000 Active 64 DOM
7. 2026-06-09
   days on market $310,000 Active 61 DOM
8. 2026-06-08
   days on market $310,000 Active 60 DOM
9. 2026-06-07
   days on market $310,000 Active 59 DOM
10. 2026-06-04
    days on market $310,000 Active 56 DOM
11. 2026-06-03
    days on market $310,000 Active 55 DOM
12. 2026-06-02
    days on market $310,000 Active 54 DOM
13. 2026-06-02
    price $310,000 Active 53 DOM
14. 2026-06-01
    days on market $330,000 Active 53 DOM
15. 2026-05-31
    days on market $330,000 Active 52 DOM
16. 2026-04-14
    price $330,000 389-char remark

    Show marketing remark (389 chars)

    Great multifamily investment opportunity, fully rented! Well maintained 4Plex On a large corner lot in downtown Norwood Young America. Two units on the main floor. New furnace & AC on 2022, updated electrical system on 2021. 2025 New water heater. Easy access to highways & schools. 2 parking space for each unit. Plenty of on & off-street parking. 24 hrs. notice for showings.

17. 2026-04-08
    listed $350,000 Active 389-char remark

    Show marketing remark (389 chars)

    Great multifamily investment opportunity, fully rented! Well maintained 4Plex On a large corner lot in downtown Norwood Young America. Two units on the main floor. New furnace & AC on 2022, updated electrical system on 2021. 2025 New water heater. Easy access to highways & schools. 2 parking space for each unit. Plenty of on & off-street parking. 24 hrs. notice for showings.

18. 2025-09-19
    historical
19. 2025-07-17
    listed $355,000 Active
20. 2024-03-21
    soldstatus $366,500
21. 2024-03-19
    soldstatus $335,000 Sold
22. 2024-02-16
    status Pending
23. 2023-12-31
    status Active
24. 2023-11-29
    status Pending
25. 2023-11-18
    historical Contingent - Inspection
26. 2023-10-01
    listed $335,000 Active
27. 2022-08-24
    soldstatus $233,000
28. 2010-06-22
    soldstatus $165,000
29. 2009-12-16
    soldstatus $27,000
30. 2009-12-09
    historical
31. 2009-10-05
    listed $29,900
32. 2009-10-05
    historical
33. 2009-07-27
    listed $64,900
34. 2009-07-24
    historical
35. 2009-06-29
    listed $84,900
36. 2009-06-23
    historical
37. 2009-03-26
    listed $94,900
38. 2009-01-27
    historical
39. 2008-08-05
    listed $125,900
40. 2008-08-05
    historical
41. 2008-02-12
    listed $175,000
42. 2006-10-24
    historical
43. 2006-08-14
    listed $289,900
44. 2006-07-28
    historical
45. 2006-05-12
    listed $289,900
46. 2003-05-13
    soldstatus $239,900
47. 2003-05-07
    soldstatus $239,900
48. 2003-03-26
    historical
49. 2002-09-10
    listed $249,900
50. 1999-12-15
    soldstatus $172,500

ⓘ 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: $3,864 · $322/mo
• Projected year-2 tax: $3,864 · $322/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $39,252
• − Mortgage interest: −$17,365
• − Property taxes: −$3,864
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,140
• − Management: −$3,140
• − Depreciation: −$9,018
• Taxable income: $1,175
• Est. tax owed @ 24.0%: −$282
• After-tax cash flow: $5,805/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: Central Public School District
• NCES district ID: 2723910
• Math proficiency: 43% ▼ -17.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $69,847
• Composite: 44.22/100
• National rank: #2847
• State rank: #102 of 301 in MN

Livability — Norwood Young America

• Score: 67/100
• State rank: #448
• US rank: #10603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood Young America, MN
• Population (ZIP): 3,335

Population outlook (Carver County) Hauer SSP2

• Today (2025): 115,077 people
• By 2030: 122,880 · +6.8%
• By 2040: 137,210 · +19.2%
• By 2050: 148,524 · +29.1%
• By 2075: 174,624 · +51.7%
• By 2100: 185,806 · +61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 10% Slovak 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 6% German/W. Germanic 1%

Political lean MEDSL · Carver

• 2024 margin: Lean R (+5.4) · D 46.3% · R 51.7% · Other 2.0%
• 2008→2024 swing: +9.7pp toward D · 2008: -15.1pp · 2024: -5.4pp
• All cycles: 2024: R+5.4 2020: R+4.9 2016: R+13.7 2012: R+19.7 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.27%
• Current HPI: 227.9532
• 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

+83.4% since first listed

37 events — show timeline

• 2026-04-14 Price Changed $330,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $350,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-17 Listed $355,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-21 Sold (Public Records) $366,500 Public Records
• 2024-03-19 Sold (MLS) $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-31 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-01 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-24 Sold (Public Records) $233,000 Public Records
• 2010-06-22 Sold (Public Records) $165,000 Public Records
• 2009-12-16 Sold (MLS) $27,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-05 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-27 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-29 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-06-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-26 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-05 Listed $125,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-12 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-10-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-14 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-12 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-05-13 Sold (Public Records) $239,900 Public Records
• 2003-05-07 Sold (MLS) $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-03-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-10 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-12-15 Sold (MLS) $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 1999-10-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1999-08-18 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $3,864 · +2.0% YoY. Source: county tax records.