211 13th St · Heron Lake, MN 56137

$229,000

3 bd · 2.0 ba · 3,415 sqft · SingleFamily public records · 46 Days on market

Built 1976 0.34 ac lot ↓ 8% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.2/30.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.5/10.0

Listing remarks

Check out this spacious three-bedroom, two-bath home! Its move-in ready and features several recent updates, including new carpeting in the living room, main-floor bedrooms and a new front door. Outside, a new concrete patio provides the perfect space for relaxing or entertaining. The property also includes a generous two-stall garage and a lite-form poured concrete basement with 10-foot ceilings. Schedule your showing today!

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1976

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (connected); City sewer (connected); Electric with circuit breakers; Propane fuel
• Home design: Residential property; One level
• Construction: Block foundation; Asphalt roof; Built with vinyl exterior
• Exterior features: Vinyl exterior; Patio; Corner lot; City street frontage; Publicly maintained road

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement with block foundation
• Laundry & utility: Main level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-418 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (32.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (42.1% below list).
• Recommended offer: $132k (42.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#106 in MN, #2,450 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Heron Lake-Okabena School District (rural): math 35% / reading 45% proficiency, ranked #354 of 467 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 4 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Jackson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Recommended offer $132,481 (42.1% 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 46 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — 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. 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?
6. 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.
7. 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.
8. 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: 0.58% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.83%
• DSCR: 0.65
• GRM: 14.4

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $898
• Equity at exit: $102,968

10-year hold

• IRR: 4.1%
• Equity multiple: 1.63×
• Total profit: $40,489
• Equity at exit: $158,686

Cash invested: $64,120 (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 56137

• Active inventory: 8
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$168 /mo · $2,022/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-418

Break-even live

Break-even rent $1,854

Max offer price $155,120

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $229,000 Active 46 DOM
2. 2026-06-17
   days on market $229,000 Active 45 DOM
3. 2026-06-16
   days on market $229,000 Active 44 DOM
4. 2026-06-15
   days on market $229,000 Active 43 DOM
5. 2026-06-13
   days on market $229,000 Active 41 DOM
6. 2026-06-12
   days on market $229,000 Active 40 DOM
7. 2026-06-09
   days on market $229,000 Active 37 DOM
8. 2026-06-08
   days on market $229,000 Active 36 DOM
9. 2026-06-07
   days on market $229,000 Active 35 DOM
10. 2026-06-05
    days on market $229,000 Active 33 DOM
11. 2026-06-04
    days on market $229,000 Active 31 DOM
12. 2026-06-02
    days on market $229,000 Active 30 DOM
13. 2026-06-01
    pricedays on market $229,000 Active 29 DOM
14. 2026-05-31
    days on market $240,000 Active 28 DOM
15. 2026-05-31
    days on market $240,000 Active 27 DOM
16. 2026-05-15
    price $240,000 430-char remark
17. 2026-05-03
    listed $249,000 Active 430-char remark
18. 2026-05-01
    historical $249,000 430-char remark

ⓘ 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: $2,022 · $168/mo
• Projected year-2 tax: $2,293 · $191/mo
• Expected delta: +$271/yr (+$23/mo · 13.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,898
• − Mortgage interest: −$12,828
• − Property taxes: −$2,022
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$6,662
• Taxable loss: −$9,302
• Est. tax savings @ 24.0%: +$2,233
• After-tax cash flow: $-2,786/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: Heron Lake-Okabena School District
• NCES district ID: 2713930
• Math proficiency: 35% ▼ -10.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $53,520
• Composite: 37.24/100
• National rank: #8979
• State rank: #354 of 467 in MN

Livability — Heron Lake

• Score: 78/100
• State rank: #106
• US rank: #2450

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Heron Lake, MN
• Population (ZIP): 1,091

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 9,757 people
• By 2030: 9,560 · -2.0%
• By 2040: 9,130 · -6.4%
• By 2050: 8,699 · -10.8%
• By 2075: 8,113 · -16.8%
• By 2100: 7,471 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.7%
• 2008→2024 swing: -37.8pp toward R · 2008: -4.3pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+37.9 2016: R+38.8 2012: R+14.3 2008: R+4.3

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

-8.0% since first listed

4 events — show timeline

• 2026-06-01 Price Changed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-03 Listed $249,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon $249,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2025): $2,022 · -6.5% YoY. Source: county tax records.