170 Main St E · Laporte, MN 56461

$119,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 12 Days on market

Built 1928 6,969 sqft lot

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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
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks

Welcome to this inviting 2-bedroom, 1-bath home offering comfort, convenience, and character. Step inside to find a practical main-level layout featuring the kitchen, living room, bathroom, and laundry area — all designed for easy living. The unfinished basement provides ample storage space, while both bedrooms are tucked upstairs for added privacy. Enjoy the charm of the stone exterior paired with fresh new siding on the gable ends and a brand-new roof on both the home and garage (2025). The detached 14x22 one-stall garage offers great space for parking or hobbies. With city water and sewer already connected, this property is ready for you to move in and make it your own. Located in

Key facts

• New siding
• Unfinished basement
• Stone exterior

Tags

• MAIN-LEVEL LAYOUT
• UNFINISHED BASEMENT
• STONE EXTERIOR
• NEW SIDING
• NEW ROOF
• DETACHED GARAGE

Property features AI

Finance

• Other: Other structures include garage(s)

Exterior

• Parking: Detached or attached garage with 1-car capacity (14 x 22); Garage listed at approximately 308 sq ft
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; One and one-half stories; Entry facing unspecified
• Construction: Frame construction; Asphalt roof (8 years old or newer); Block foundation
• Exterior features: Deck; Stone and other exterior finishes; Light tree coverage; Paved public road frontage

Interior

• Kitchen: Range; Refrigerator; Exhaust fan
• Bedrooms: Two bedrooms (upper level); Second bedroom on upper level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Unfinished basement; Kitchen and dining combined
• Laundry & utility: Main level laundry; Washer; Dryer; Gas water heater; Rented fuel tank

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $82k (31.3% below list).
• Recommended offer: $82k (31.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#574 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime C-, health & safety C-, schools D+.
• Laporte Public School District (rural): math 20% / reading 45% proficiency, ranked #384 of 467 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 27 units permitted in Hubbard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($823 loan paydown + $12k appreciation (10.0% local appreciation)).
• Hubbard County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,778 (31.3% 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. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.69% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 12.1

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: 21.8%
• Equity multiple: 2.76×
• Total profit: $58,633
• Equity at exit: $107,205

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $177,420
• Equity at exit: $231,191

Cash invested: $33,320 (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 56461

• Home prices YoY: 18.2%
• Active inventory: 53
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $818 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $-96

Break-even live

Break-even rent $940

Max offer price $101,967

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-17
   status Pending 815-char remark
2. 2026-05-02
   listed $119,000 Active 815-char remark
3. 2026-04-29
   historical
4. 2025-10-28
   listed $119,000 Active

ⓘ 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: $826 · $69/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$253/yr (+$21/mo · 30.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,813
• − Mortgage interest: −$6,666
• − Property taxes: −$826
• − Insurance: −$595
• − Repairs & maintenance: −$785
• − Management: −$785
• − Depreciation: −$3,462
• Taxable loss: −$3,305
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $-364/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: Laporte Public School District
• NCES district ID: 2717940
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $47,848
• Composite: 30.76/100
• National rank: #11399
• State rank: #384 of 467 in MN

Livability — Laporte

• Score: 64/100
• State rank: #574
• US rank: #13861

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laporte, MN
• Population (ZIP): 3,316

Population outlook (Hubbard County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 20,275 · -1.2%
• By 2040: 19,429 · -5.3%
• By 2050: 18,093 · -11.8%
• By 2075: 14,903 · -27.3%
• By 2100: 10,994 · -46.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 5% Native American 2%
• Common ancestry: Portuguese 17% Lithuanian 5% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Hubbard

• 2024 margin: Solid R (+31.5) · D 33.4% · R 64.9% · Other 1.7%
• 2008→2024 swing: -17.0pp toward R · 2008: -14.5pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+28.8 2016: R+33.6 2012: R+16.9 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 44.15%
• Current HPI: 287.2417
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-28 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2025): $826 · +1.2% YoY. Source: county tax records.