1419 N 5th St · Mankato, MN 56001

$279,900

4 bd · 1.0 ba · 1,885 sqft · SingleFamily public records · 11 Days on market

Built 1953 6,098 sqft lot Est $254k · 10% over

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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).

• Cash flow +14.3/30.0
• Rent growth +4.6/5.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• ARV discount +3.0/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1419 N Fifth Street! You will fall in love with this home’s charming features, private back yard, and convenient location. The living room invites you in with the large picture window and fireplace. The main level also offers 2 bedrooms and a full bathroom. The upper level has been finished as a primary bedroom retreat, but would also make for a great den or office. You will find additional living space on the lower level, as well as an office or potential 4th bedroom. Outside you will enjoy the patio and fenced in back yard. Do not hesitate to schedule a showing today!

Key facts

• New furnace
• New water heater
• Private patio

Tags

• FULLY FINISHED BASEMENT
• PRIVATE PATIO
• FENCED BACKYARD
• BEAUTIFUL LANDSCAPING
• NEW WATER HEATER
• NEW FURNACE

Property features AI

Finance

• Other: Above-grade finished living area and additional finished lower-level living area

Exterior

• Parking: 2-car garage with garage door opener
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential single family home; Finished lower level (basement)
• Construction: Wood siding; Asphalt roof; Finished full basement
• Exterior features: Patio; Fenced yard; Public-maintained road

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Refrigerator; Garbage disposal; Water softener
• Bedrooms: Basement includes finished space (full basement)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Eat-in kitchen; Window coverings; Wood-burning fireplace
• Laundry & utility: Washer; Dryer; Sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $53 ($631/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (17.9% below list).
• Recommended offer: $230k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 352 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,880 (17.9% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.82% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $254,475
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1529 N 5th St	0.11mi	4/1.5	1,832 (-3%)	18mo	$247,000	$135	73
222 Belleview Ave	0.53mi	4/1.5	1,746 (-7%)	12mo	$275,000	$158	50
460 N 6th St	0.73mi	4/2.0	1,788 (-5%)	22mo	$242,000	$135	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.62×
• Total profit: $-29,927
• Equity at exit: $41,734

10-year hold

• IRR: 4.8%
• Equity multiple: 1.42×
• Total profit: $33,261
• Equity at exit: $24,201

Cash invested: $78,372 (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 56001

• Rents YoY: 8.6%
• Active inventory: 352
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,299 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $53

Break-even live

Break-even rent $2,232

Max offer price $279,900

Occupancy floor 93%

Sensitivity live

Price	-10% $211	-5% $132	+0% $53	+5% $-27	+10% $-106
Rent	-10% $-129	-5% $-38	+0% $53	+5% $143	+10% $234
Rate	-1.0pp $194	-0.5pp $124	base $53	+0.5pp $-20	+1.0pp $-94

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1050 Marsh St Unit 326 Van Tol Mankato, MN	3.0	2.0	1461	$2,360	$1.62	44d	1	0.86mi
412 Wall St Unit 412 North Mankato, MN	4.0	2.5	2600	$2,300	$0.88	44d	1	1.18mi

Listing history 18 events

1. 2026-05-04
   status Pending
2. 2026-04-27
   historical Active Under Contract
3. 2026-04-23
   listed $279,900 Active
4. 2023-09-18
   soldstatus $250,000
5. 2023-09-01
   soldstatus $250,000 Closed 593-char remark

   Show marketing remark (593 chars)

   Welcome to 1419 N Fifth Street! You will fall in love with this home’s charming features, private back yard, and convenient location. The living room invites you in with the large picture window and fireplace. The main level also offers 2 bedrooms and a full bathroom. The upper level has been finished as a primary bedroom retreat, but would also make for a great den or office. You will find additional living space on the lower level, as well as an office or potential 4th bedroom. Outside you will enjoy the patio and fenced in back yard. Do not hesitate to schedule a showing today!

6. 2023-08-08
   historical 593-char remark

   Show marketing remark (593 chars)

   Welcome to 1419 N Fifth Street! You will fall in love with this home’s charming features, private back yard, and convenient location. The living room invites you in with the large picture window and fireplace. The main level also offers 2 bedrooms and a full bathroom. The upper level has been finished as a primary bedroom retreat, but would also make for a great den or office. You will find additional living space on the lower level, as well as an office or potential 4th bedroom. Outside you will enjoy the patio and fenced in back yard. Do not hesitate to schedule a showing today!

7. 2023-08-04
   listed $239,900 593-char remark

   Show marketing remark (593 chars)

   Welcome to 1419 N Fifth Street! You will fall in love with this home’s charming features, private back yard, and convenient location. The living room invites you in with the large picture window and fireplace. The main level also offers 2 bedrooms and a full bathroom. The upper level has been finished as a primary bedroom retreat, but would also make for a great den or office. You will find additional living space on the lower level, as well as an office or potential 4th bedroom. Outside you will enjoy the patio and fenced in back yard. Do not hesitate to schedule a showing today!

8. 2013-07-03
   soldstatus $140,900

   Show marketing remark (260 chars)

   Move right into this centrally located 3+ bedroom 1 1/2 story home with a fully finished basement. Beautifully landscaped, private patio and fenced backyard. Major updates: Anderson double pane replacement windows, kitchen counter top, faucet & flooring,

9. 2013-07-03
   soldstatus $140,900 260-char remark

   Show marketing remark (260 chars)

   Move right into this centrally located 3+ bedroom 1 1/2 story home with a fully finished basement. Beautifully landscaped, private patio and fenced backyard. Major updates: Anderson double pane replacement windows, kitchen counter top, faucet & flooring,

10. 2013-05-13
    listed $139,900 260-char remark

    Show marketing remark (260 chars)

    Move right into this centrally located 3+ bedroom 1 1/2 story home with a fully finished basement. Beautifully landscaped, private patio and fenced backyard. Major updates: Anderson double pane replacement windows, kitchen counter top, faucet & flooring,

11. 2011-09-16
    listed $139,900
12. 2011-07-23
    listed $144,900
13. 2005-10-05
    soldstatus $152,500
14. 2001-04-27
    soldstatus $122,000
15. 1994-11-23
    soldstatus $80,000
16. 1993-09-10
    soldstatus $75,000
17. 1989-07-14
    soldstatus $58,500
18. 1986-03-01
    soldstatus $24,500

ⓘ 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: $2,148 · $179/mo
• Projected year-2 tax: $2,641 · $220/mo
• Expected delta: +$493/yr (+$41/mo · 23.0%)

ⓘ 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 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: $27,586
• − Mortgage interest: −$15,679
• − Property taxes: −$2,148
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − Depreciation: −$8,143
• Taxable loss: −$4,197
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $1,638/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

+1042.4% since first listed

18 events — show timeline

• 2026-05-04 Pending — RASM
• 2026-04-27 Contingent — RASM
• 2026-04-23 Listed $279,900 RASM
• 2023-09-18 Sold (Public Records) $250,000 Public Records
• 2023-09-01 Sold (MLS) $250,000 RASM
• 2023-08-08 Delisted — RASM
• 2023-08-04 Listed $239,900 RASM
• 2013-07-03 Sold (Public Records) $140,900 Public Records
• 2013-07-03 Sold (MLS) $140,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-05-13 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-16 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-07-23 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-05 Sold (Public Records) $152,500 Public Records
• 2001-04-27 Sold (Public Records) $122,000 Public Records
• 1994-11-23 Sold (Public Records) $80,000 Public Records
• 1993-09-10 Sold (Public Records) $75,000 Public Records
• 1989-07-14 Sold (Public Records) $58,500 Public Records
• 1986-03-01 Sold (Public Records) $24,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,148 · +3.7% YoY. Source: county tax records.