118 1st St SW · Faribault, MN 55021

$191,900

4 bd · 2.5 ba · 1,681 sqft · SingleFamily public records · 99 Days on market

Built 1920 4,268 sqft lot $114/sqft · at area comps Est $213k · 10% under

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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 +23.9/30.0
• ARV discount +12.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bed, 3-bath home offers great potential in a desirable neighborhood. Relax on the inviting front porch and enjoy the comfortable layout with room for everyday living and entertaining. The interior is ready for your vision—some cleaning and fresh paint will really bring this space to life. With its functional floor plan and cozy charm, this property is an excellent opportunity to make it your own. Convenient location close to schools, parks, and local amenities. Don’t miss out!

Key facts

• Front porch
• Convenient location
• 4,268 sq ft lot

Tags

• FRONT PORCH
• FUNCTIONAL FLOOR PLAN
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $192k).
• Recommended offer: $175k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.1% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 165 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 93 units permitted in Rice County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,629 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.06% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.33%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (median comp): $213,422
• List price: $191,900
• Delta: -10.08%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 4th Ave NW	0.31mi	3/2.0 (-1)	1,728 (+3%)	21mo	$175,000	$101	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,375
• Equity at exit: $28,613

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $24,040
• Equity at exit: $16,592

Cash invested: $53,732 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 165
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$1,006
• Tax from tax record: −$142 /mo · $1,698/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $373

Break-even live

Break-even rent $1,554

Max offer price $191,900

Occupancy floor 77%

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: $47,975
• Closing costs: $5,757
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 1st Ave NW Unit 2 Faribault, MN	3.0	1.0	1500	$1,575	$1.05	43d	1	0.37mi
728 Willow St Faribault, MN	3.0	1.0	1200	$1,995	$1.66	43d	1	0.46mi

Listing history 37 events

1. 2026-06-19
   days on market $191,900 Active 99 DOM
2. 2026-06-18
   days on market $191,900 Active 98 DOM
3. 2026-06-17
   days on market $191,900 Active 97 DOM
4. 2026-06-16
   days on market $191,900 Active 96 DOM
5. 2026-06-15
   days on market $191,900 Active 95 DOM
6. 2026-06-14
   days on market $191,900 Active 93 DOM
7. 2026-06-12
   days on market $191,900 Active 92 DOM
8. 2026-06-09
   days on market $191,900 Active 89 DOM
9. 2026-06-08
   days on market $191,900 Active 88 DOM
10. 2026-06-07
    days on market $191,900 Active 87 DOM
11. 2026-06-05
    days on market $191,900 Active 84 DOM
12. 2026-06-03
    days on market $191,900 Active 83 DOM
13. 2026-06-02
    days on market $191,900 Active 82 DOM
14. 2026-06-01
    days on market $191,900 Active 81 DOM
15. 2026-05-31
    days on market $191,900 Active 80 DOM
16. 2026-05-30
    days on market $191,900 Active 79 DOM
17. 2026-03-18
    price $199,900 500-char remark

    Show marketing remark (500 chars)

    This 4-bed, 3-bath home offers great potential in a desirable neighborhood. Relax on the inviting front porch and enjoy the comfortable layout with room for everyday living and entertaining. The interior is ready for your vision—some cleaning and fresh paint will really bring this space to life. With its functional floor plan and cozy charm, this property is an excellent opportunity to make it your own. Convenient location close to schools, parks, and local amenities. Don’t miss out!

18. 2026-03-12
    listed $209,900 Active 500-char remark

    Show marketing remark (500 chars)

    This 4-bed, 3-bath home offers great potential in a desirable neighborhood. Relax on the inviting front porch and enjoy the comfortable layout with room for everyday living and entertaining. The interior is ready for your vision—some cleaning and fresh paint will really bring this space to life. With its functional floor plan and cozy charm, this property is an excellent opportunity to make it your own. Convenient location close to schools, parks, and local amenities. Don’t miss out!

19. 2026-03-10
    historical
20. 2026-02-12
    listed $210,000 Active
21. 2022-01-20
    soldstatus $215,000
22. 2022-01-06
    soldstatus $119,000
23. 2021-08-02
    soldstatus $215,000 Sold
24. 2021-06-02
    status Pending
25. 2021-06-01
    historical Contingent - Inspection
26. 2021-05-28
    listed $189,900 Active
27. 2017-09-18
    soldstatus $119,000
28. 2017-05-04
    historical
29. 2017-03-17
    price $123,500
30. 2017-02-21
    listed $129,000 Active
31. 2011-05-27
    soldstatus $35,000
32. 2011-05-06
    historical
33. 2010-12-29
    listed $42,500
34. 2006-07-07
    soldstatus $123,000
35. 2006-06-23
    soldstatus $126,100
36. 2006-05-05
    historical
37. 2006-04-20
    listed $129,900

ⓘ 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: $1,698 · $142/mo
• Projected year-2 tax: $1,924 · $160/mo
• Expected delta: +$226/yr (+$19/mo · 13.3%)

ⓘ 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 ≥99°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: $24,315
• − Mortgage interest: −$10,749
• − Property taxes: −$1,698
• − Insurance: −$960
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$5,583
• Taxable income: $1,435
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $4,131/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, 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

+53.9% since first listed

21 events — show timeline

• 2026-03-18 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-12 Listed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-20 Sold (Public Records) $215,000 Public Records
• 2022-01-06 Sold (Public Records) $119,000 Public Records
• 2021-08-02 Sold (MLS) $215,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-28 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-09-18 Sold (Public Records) $119,000 Public Records
• 2017-05-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-17 Price Changed $123,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-21 Listed $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-27 Sold (MLS) $35,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-29 Listed $42,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-07 Sold (Public Records) $123,000 Public Records
• 2006-06-23 Sold (MLS) $126,100 NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-20 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $1,698 · +0.4% YoY. Source: county tax records.