417 Fawn Run · Kenyon, MN 55946

$269,000

2 bd · 2.0 ba · 1,380 sqft · Townhouse · 58 Days on market

Built 2023 4,600 sqft lot $230/mo HOA · 13% of rent

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.5/10.0

Listing remarks MLS

PRICE DROP + MOTIVATED SELLER! Now offered at $269,000—well below the seller’s $289,500 purchase price just 2 years ago—this quality built townhome is a standout value! The seller is relocating and says bring an offer! Better than new with thoughtful upgrades already completed, including a privacy fence, granite counters, high-end window treatments, and upgraded fixtures. Construction was completed in 2024, and this immaculate open-concept townhome is filled with natural light. The main living space features a custom tray ceiling and gas fireplace with stone surround, creating a warm and inviting feel. The kitchen offers a large center island, stainless steel appliances, granite countertops, and easy flow into the dining area. A bright sunroom adds the perfect flex space for relaxing, working, or enjoying southern exposure year-round. The primary suite includes a walk-in closet and private 3/4 bath, with an additional bedroom for guests, hobbies, or office space. Main-level laundry, oversized 2-car garage, private patio, nearby community garden and playground, and a peaceful non-thru private road location. Small-town charm with easy access to Faribault, Northfield, and Rochester. This one is priced to move—schedule your showing today!

Key facts

• Custom tray ceiling
• Large center island
• Gas fireplace

Tags

• GRANITE COUNTERS
• HIGH END WINDOW TREATMENTS
• UPGRADED FIXTURES
• CUSTOM TRAY CEILING
• GAS FIREPLACE
• LARGE CENTER ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $269k.

Deal economics

• At list price, monthly cash flow is $-496 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (32.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (33.1% below list).
• Recommended offer: $180k (33.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#172 in MN, #3,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Kenyon-Wanamingo School District (rural): math 34% / reading 41% proficiency, ranked #230 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 86 units permitted in Goodhue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Goodhue County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $180,000 (33.1% 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 58 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.67% ✗
• Cap rate: 4.08%
• Cash-on-cash: -7.91%
• DSCR: 0.65
• GRM: 12.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.53×
• Total profit: $114,951
• Equity at exit: $242,337

10-year hold

• IRR: 17.4%
• Equity multiple: 5.83×
• Total profit: $363,502
• Equity at exit: $522,608

Cash invested: $75,320 (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 55946

• Home prices YoY: 11.0%
• Active inventory: 31
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$112
• HOA: −$230
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-496

Break-even live

Break-even rent $2,428

Max offer price $181,306

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 Red Wing Ave Kenyon, MN	3.0	1.5	1456	$1,800	$1.24	43d	1	0.87mi

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: gas

Listing history 27 events

1. 2026-06-19
   days on market $269,000 Active 58 DOM
2. 2026-06-18
   days on market $269,000 Active 57 DOM
3. 2026-06-17
   days on market $269,000 Active 56 DOM
4. 2026-06-16
   days on market $269,000 Active 55 DOM
5. 2026-06-15
   days on market $269,000 Active 54 DOM
6. 2026-06-14
   days on market $269,000 Active 52 DOM
7. 2026-06-12
   days on market $269,000 Active 51 DOM
8. 2026-06-09
   days on market $269,000 Active 48 DOM
9. 2026-06-08
   days on market $269,000 Active 47 DOM
10. 2026-06-02
    days on market $269,000 Active 41 DOM
11. 2026-06-01
    days on market $269,000 Active 40 DOM
12. 2026-05-31
    days on market $269,000 Active 39 DOM
13. 2026-05-30
    days on market $269,000 Active 38 DOM
14. 2026-05-01
    price $269,000 1278-char remark

    Show marketing remark (1278 chars)

    PRICE DROP + MOTIVATED SELLER! Now offered at $269,000—well below the seller’s $289,500 purchase price just 2 years ago—this quality built townhome is a standout value! The seller is relocating and says bring an offer! Better than new with thoughtful upgrades already completed, including a privacy fence, granite counters, high-end window treatments, and upgraded fixtures. Construction was completed in 2024, and this immaculate open-concept townhome is filled with natural light. The main living space features a custom tray ceiling and gas fireplace with stone surround, creating a warm and inviting feel. The kitchen offers a large center island, stainless steel appliances, granite countertops, and easy flow into the dining area. A bright sunroom adds the perfect flex space for relaxing, working, or enjoying southern exposure year-round. The primary suite includes a walk-in closet and private 3/4 bath, with an additional bedroom for guests, hobbies, or office space. Main-level laundry, oversized 2-car garage, private patio, nearby community garden and playground, and a peaceful non-thru private road location. Small-town charm with easy access to Faribault, Northfield, and Rochester. This one is priced to move—schedule your showing today!

15. 2026-04-22
    listed $289,500 Active 1278-char remark

    Show marketing remark (1278 chars)

    PRICE DROP + MOTIVATED SELLER! Now offered at $269,000—well below the seller’s $289,500 purchase price just 2 years ago—this quality built townhome is a standout value! The seller is relocating and says bring an offer! Better than new with thoughtful upgrades already completed, including a privacy fence, granite counters, high-end window treatments, and upgraded fixtures. Construction was completed in 2024, and this immaculate open-concept townhome is filled with natural light. The main living space features a custom tray ceiling and gas fireplace with stone surround, creating a warm and inviting feel. The kitchen offers a large center island, stainless steel appliances, granite countertops, and easy flow into the dining area. A bright sunroom adds the perfect flex space for relaxing, working, or enjoying southern exposure year-round. The primary suite includes a walk-in closet and private 3/4 bath, with an additional bedroom for guests, hobbies, or office space. Main-level laundry, oversized 2-car garage, private patio, nearby community garden and playground, and a peaceful non-thru private road location. Small-town charm with easy access to Faribault, Northfield, and Rochester. This one is priced to move—schedule your showing today!

16. 2024-04-30
    soldstatus $289,900 Sold 314-char remark

    Show marketing remark (314 chars)

    Beautiful one level new construction townhome. Wonderful cul-de-sac location in small town Kenyon. Kitchen appliances included, this is the last unit being built that has a sunroom with Southern exposure. Open floor plan with gas fireplace, nice master suite with walk in closet and private bath. Andersen windows.

17. 2024-04-12
    status Pending 314-char remark

    Show marketing remark (314 chars)

    Beautiful one level new construction townhome. Wonderful cul-de-sac location in small town Kenyon. Kitchen appliances included, this is the last unit being built that has a sunroom with Southern exposure. Open floor plan with gas fireplace, nice master suite with walk in closet and private bath. Andersen windows.

18. 2024-04-01
    historical Contingent - Subject to Statutory Rescission 314-char remark

    Show marketing remark (314 chars)

    Beautiful one level new construction townhome. Wonderful cul-de-sac location in small town Kenyon. Kitchen appliances included, this is the last unit being built that has a sunroom with Southern exposure. Open floor plan with gas fireplace, nice master suite with walk in closet and private bath. Andersen windows.

19. 2023-11-14
    listed $289,900 Active 314-char remark

    Show marketing remark (314 chars)

    Beautiful one level new construction townhome. Wonderful cul-de-sac location in small town Kenyon. Kitchen appliances included, this is the last unit being built that has a sunroom with Southern exposure. Open floor plan with gas fireplace, nice master suite with walk in closet and private bath. Andersen windows.

20. 2008-09-10
    historical
21. 2007-08-13
    listed $155,000
22. 2007-08-09
    historical
23. 2006-08-10
    historical
24. 2006-08-09
    listed $160,000
25. 2005-08-11
    historical
26. 2005-08-10
    listed $160,000
27. 2004-02-11
    listed $152,000

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $2,500 · $208/mo
• Expected delta: +$512/yr (+$43/mo · 25.8%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$15,068
• − Property taxes: −$1,988
• − Insurance: −$1,345
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$2,760
• − Depreciation: −$7,825
• Taxable loss: −$10,843
• Est. tax savings @ 24.0%: +$2,602
• After-tax cash flow: $-3,355/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: Kenyon-Wanamingo School District
• NCES district ID: 2717100
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $58,681
• Composite: 33.23/100
• National rank: #5522
• State rank: #230 of 301 in MN

Livability — Kenyon

• Score: 76/100
• State rank: #172
• US rank: #3700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenyon, MN
• Population (ZIP): 3,366

Population outlook (Goodhue County) Hauer SSP2

• Today (2025): 46,532 people
• By 2030: 46,185 · -0.7%
• By 2040: 44,531 · -4.3%
• By 2050: 41,532 · -10.7%
• By 2075: 33,745 · -27.5%
• By 2100: 23,716 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 29% Lithuanian 3% Scottish 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Goodhue

• 2024 margin: R (+16.4) · D 40.8% · R 57.3% · Other 1.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -1.4pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+14.8 2016: R+18.0 2012: R+3.0 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 32.91%
• Current HPI: 331.1421
• 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

+77.0% since first listed

14 events — show timeline

• 2026-05-01 Price Changed $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Listed $289,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-30 Sold (MLS) $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-11-14 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-13 Listed $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-09 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-10 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-11 Listed $152,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+22.0%/yr

Latest (2025): $1,988 · +434.4% YoY. Source: county tax records.