203 16th St SE · Austin, MN 55912

$139,900

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 8 Days on market

Built 1949 6,011 sqft lot $125/sqft · 29% below area Est $127k · 10% over

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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 +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• ARV discount +2.8/15.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

Key facts

• Unfinished basement
• Concrete patio
• Modern kitchen

Tags

• MODERN KITCHEN
• HARDWOOD FLOORS
• UNFINISHED BASEMENT
• DETACHED GARAGE
• CONCRETE PATIO
• CONCRETE DRIVEWAY

Property features AI

Exterior

• Parking: Concrete parking; 1-car garage (22 x 14)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential property; One story; Main-level primary bedroom
• Construction: Concrete and frame construction; Asphalt roof; Poured concrete foundation (foundation dimensions 30 x 24)
• Exterior features: Patio with awning(s); Metal exterior; Light tree coverage; City street with curbs, paved streets, sidewalks, street lights and storm sewer

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms with primary on the main floor
• Bathrooms: 1 full bath on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main floor full bath; Living/dining room; Storage space in unfinished basement
• Laundry & utility: Washer; Dryer; Gas water heater; Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 8.1% vs local median 4.8% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Woodson Kindergarten Center (352 students, 71% FRL); I.J. Holton Intermediate School (math 19% / reading 41%, grade F, #199 of 258 statewide, top 78%, 741 students, 68% FRL); Austin Senior High (math 32% / reading 44%, grade F, #278 of 471 statewide, top 59%, 1,345 students, 60% FRL) — zoned schools average 66% FRL vs 46% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.6%/yr); 191 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1949 — 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. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (median comp): $126,746
• List price: $139,900
• Delta: 10.38%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,633
• Equity at exit: $20,860

10-year hold

• IRR: 13.1%
• Equity multiple: 2.28×
• Total profit: $49,987
• Equity at exit: $12,096

Cash invested: $39,172 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 191
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$734
• Tax from tax record: −$111 /mo · $1,332/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $213

Break-even live

Break-even rent $1,143

Max offer price $139,900

Occupancy floor 80%

Sensitivity live

Price	-10% $293	-5% $253	+0% $213	+5% $174	+10% $134
Rent	-10% $102	-5% $158	+0% $213	+5% $269	+10% $325
Rate	-1.0pp $284	-0.5pp $249	base $213	+0.5pp $177	+1.0pp $140

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 1st Ave NE Austin, MN	3.0	2.0	1200	$1,600	$1.33	45d	1	0.40mi
1921 3rd Ave NE Austin, MN	3.0	2.0	1242	$1,600	$1.29	45d	1	0.41mi
800 8th Ave SE Austin, MN	3.0	1.0	842	$1,600	$1.90	45d	1	0.84mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	45d	96	1.36mi
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	45d	1	1.39mi

Listing history 9 events

1. 2026-05-09
   status Pending 649-char remark
2. 2026-05-06
   historical Contingent - Inspection 649-char remark
3. 2026-05-01
   listed $139,900 Active 649-char remark
4. 2024-08-16
   soldstatus $110,000
5. 2018-12-11
   historical 130-char remark

   Show marketing remark (130 chars)

   Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

6. 2014-02-24
   soldstatus $51,000 130-char remark

   Show marketing remark (129 chars)

   Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

7. 2014-02-24
   soldstatus $51,000

   Show marketing remark (129 chars)

   Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

8. 2013-12-02
   listed $54,900 130-char remark

   Show marketing remark (129 chars)

   Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

9. 2013-12-02
   listed $54,900

   Show marketing remark (129 chars)

   Newer F/A, C/A, windows, gutter helmets and concrete driveway and patio. This adorable two bedroom near schools is priced to see.

ⓘ 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: $1,332 · $111/mo
• Projected year-2 tax: $1,449 · $121/mo
• Expected delta: +$117/yr (+$10/mo · 8.8%)

ⓘ 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 ≥98°F today · 16 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: $16,956
• − Mortgage interest: −$7,837
• − Property taxes: −$1,332
• − Insurance: −$700
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,070
• Taxable income: $305
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,487/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

Amenities A- 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: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+155.9% since first listed

10 events — show timeline

• 2026-06-12 Sold (MLS) $140,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-16 Sold (Public Records) $110,000 Public Records
• 2018-12-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-24 Sold (MLS) $51,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-24 Sold (MLS) $51,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-02 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-02 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.9%/yr

Latest (2025): $1,332 · +3.1% YoY. Source: county tax records.