1106 13th St N · Benson, MN 56215

$65,900

2 bd · 2.0 ba · 1,250 sqft · SingleFamily · 80 Days on market

Built 1914 0.56 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-story home situated on a large lot with plenty of space to enjoy! This 2 bedroom, 2 bathroom property features several exterior updates including newer siding, windows, and shingles—giving you peace of mind on the big-ticket items. Inside, the home offers great potential with an opportunity to add your personal touch and build equity. Whether you're looking for a starter home, investment property, or a project to make your own, this property is full of possibilities. Don’t miss your chance to turn this house into your ideal home!

Key facts

• 0.56 acre lot
• Built 1914
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $62k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 5.8% in Benson — 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 75/100 on livability (#189 in MN, #4,068 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Benson Public School District (town): math 37% / reading 41% proficiency, ranked #228 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 15 units permitted in Swift County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y ago 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.
• Current owner paid $22k; list at $66k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,946 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 1.76% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.39%
• DSCR: 2.17
• GRM: 4.7

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: 20.2%
• Equity multiple: 1.82×
• Total profit: $15,212
• Equity at exit: $9,826

10-year hold

• IRR: 28.5%
• Equity multiple: 3.53×
• Total profit: $46,723
• Equity at exit: $5,698

Cash invested: $18,452 (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 56215

• Home prices YoY: -18.0%
• Active inventory: 32
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$346
• Tax from tax record: −$135 /mo · $1,620/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $406

Break-even live

Break-even rent $643

Max offer price $65,900

Occupancy floor 60%

Sensitivity live

Price	-10% $443	-5% $424	+0% $406	+5% $387	+10% $368
Rent	-10% $314	-5% $360	+0% $406	+5% $451	+10% $497
Rate	-1.0pp $439	-0.5pp $422	base $406	+0.5pp $389	+1.0pp $371

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: $16,475
• Closing costs: $1,977
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1017 13th St N Benson, MN	2.0	1.5	964	$1,140	$1.18	44d	1	0.06mi
1027 13th St N Benson, MN	3.0	1.5	964	$1,240	$1.29	44d	1	0.08mi
1009 13th St N Benson, MN	2.0	1.5	964	$1,090	$1.13	44d	1	0.08mi

Listing history 25 events

1. 2026-06-21
   days on market $65,900 Active 80 DOM
2. 2026-06-18
   days on market $65,900 Active 78 DOM
3. 2026-06-17
   days on market $65,900 Active 77 DOM
4. 2026-06-16
   days on market $65,900 Active 76 DOM
5. 2026-06-15
   days on market $65,900 Active 75 DOM
6. 2026-06-13
   days on market $65,900 Active 73 DOM
7. 2026-06-12
   days on market $65,900 Active 72 DOM
8. 2026-06-09
   days on market $65,900 Active 69 DOM
9. 2026-06-08
   days on market $65,900 Active 68 DOM
10. 2026-06-07
    days on market $65,900 Active 67 DOM
11. 2026-06-05
    days on market $65,900 Active 65 DOM
12. 2026-06-04
    days on market $65,900 Active 63 DOM
13. 2026-06-02
    days on market $65,900 Active 62 DOM
14. 2026-06-01
    days on market $65,900 Active 61 DOM
15. 2026-05-31
    days on market $65,900 Active 60 DOM
16. 2026-05-31
    days on market $65,900 Active 59 DOM
17. 2026-05-15
    status Active 558-char remark

    Show marketing remark (558 chars)

    Charming 2-story home situated on a large lot with plenty of space to enjoy! This 2 bedroom, 2 bathroom property features several exterior updates including newer siding, windows, and shingles—giving you peace of mind on the big-ticket items. Inside, the home offers great potential with an opportunity to add your personal touch and build equity. Whether you're looking for a starter home, investment property, or a project to make your own, this property is full of possibilities. Don’t miss your chance to turn this house into your ideal home!

18. 2026-04-30
    historical Contingent - Inspection 558-char remark

    Show marketing remark (558 chars)

    Charming 2-story home situated on a large lot with plenty of space to enjoy! This 2 bedroom, 2 bathroom property features several exterior updates including newer siding, windows, and shingles—giving you peace of mind on the big-ticket items. Inside, the home offers great potential with an opportunity to add your personal touch and build equity. Whether you're looking for a starter home, investment property, or a project to make your own, this property is full of possibilities. Don’t miss your chance to turn this house into your ideal home!

19. 2026-04-29
    historical 558-char remark

    Show marketing remark (558 chars)

    Charming 2-story home situated on a large lot with plenty of space to enjoy! This 2 bedroom, 2 bathroom property features several exterior updates including newer siding, windows, and shingles—giving you peace of mind on the big-ticket items. Inside, the home offers great potential with an opportunity to add your personal touch and build equity. Whether you're looking for a starter home, investment property, or a project to make your own, this property is full of possibilities. Don’t miss your chance to turn this house into your ideal home!

20. 2026-03-31
    listed $65,900 Active 558-char remark

    Show marketing remark (558 chars)

    Charming 2-story home situated on a large lot with plenty of space to enjoy! This 2 bedroom, 2 bathroom property features several exterior updates including newer siding, windows, and shingles—giving you peace of mind on the big-ticket items. Inside, the home offers great potential with an opportunity to add your personal touch and build equity. Whether you're looking for a starter home, investment property, or a project to make your own, this property is full of possibilities. Don’t miss your chance to turn this house into your ideal home!

21. 2019-02-02
    historical 148-char remark

    Show marketing remark (148 chars)

    Home sold as - is with no warrenties. Room measurements need to be confirmed by Buyer as they are only estimates. Nice size lot on the edge of town.

22. 2012-08-29
    soldstatus $22,100 148-char remark

    Show marketing remark (148 chars)

    Home sold as - is with no warrenties. Room measurements need to be confirmed by Buyer as they are only estimates. Nice size lot on the edge of town.

23. 2012-08-29
    soldstatus $22,100

    Show marketing remark (148 chars)

    Home sold as - is with no warrenties. Room measurements need to be confirmed by Buyer as they are only estimates. Nice size lot on the edge of town.

24. 2012-05-11
    listed $26,000 148-char remark

    Show marketing remark (148 chars)

    Home sold as - is with no warrenties. Room measurements need to be confirmed by Buyer as they are only estimates. Nice size lot on the edge of town.

25. 2012-05-11
    listed $26,000

    Show marketing remark (148 chars)

    Home sold as - is with no warrenties. Room measurements need to be confirmed by Buyer as they are only estimates. Nice size lot on the edge of town.

ⓘ 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: $1,620 · $135/mo
• Projected year-2 tax: $1,620 · $135/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 ≥99°F today · 13 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: $13,880
• − Mortgage interest: −$3,691
• − Property taxes: −$1,620
• − Insurance: −$330
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$1,917
• Taxable income: $4,101
• Est. tax owed @ 24.0%: −$984
• After-tax cash flow: $3,884/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: Benson Public School District
• NCES district ID: 2704470
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 41% ▼ -9.00%
• Median HH income: $49,024
• Composite: 33.56/100
• National rank: #5423
• State rank: #228 of 301 in MN

Livability — Benson

• Score: 75/100
• State rank: #189
• US rank: #4068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benson, MN
• Population (ZIP): 4,701

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 28% Italian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.08%
• Current HPI: 214.9157
• 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

+153.5% since first listed

9 events — show timeline

• 2026-05-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listed $65,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-29 Sold (MLS) $22,100 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-29 Sold (MLS) $22,100 NORTHSTARMLS as Distributed by MLS Grid
• 2012-05-11 Listed $26,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-05-11 Listed $26,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2025): $1,620 · +37.5% YoY. Source: county tax records.