801 Mechanic St · Edgerton, MN 56128

$117,900

4 bd · 2.0 ba · 1,740 sqft · SingleFamily · 7 Days on market

Built 1900 7,500 sqft 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 +27.1/30.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move in ready quaint 2-story house located on a spacious corner lot. Boasts 4 bedrooms and 2 baths with updated doors, lighting fixtures, and black out shades on the main floor. The main level has a welcoming front entry with spacious closet. Open living and dining space with abundant natural light. Enjoy cooking in your spacious kitchen. Main floor laundry located just off the kitchen. Retreat to your main floor primary on-suite featuring 3/4 bath and spacious 8 x 8 closet. Walk upstairs to 3 generous sized newly painted bedrooms. Upstairs also includes a full bath. The exterior 20 x 22 oversized single garage includes a lofted storage area. The fenced in backyard is perfect a play area or for gardening. Large mature trees are found throughout the property. Located just a block off Main Street making shopping and dining within walking distance. Call today to schedule your private tour to make this your next home!

Key facts

• Black out shades
• Spacious corner lot
• Updated doors

Tags

• SPACIOUS CORNER LOT
• UPDATED DOORS
• LIGHTING FIXTURES
• BLACK OUT SHADES
• WELCOMING FRONT ENTRY
• SPACIOUS CLOSET

Property features AI

Exterior

• Parking: 1-car garage (approx. 20 x 22); Detached/attached garage size about 440 sq ft
• Utilities: City water (connected); City sewer (connected); Electric service with circuit breakers (Xcel Energy); Propane fuel
• Home design: Residential property; Two levels; Entry level includes main level living spaces
• Construction: Asphalt roof; Foundation: poured concrete and stone; Built area includes above-grade finished space and below-grade area
• Exterior features: Vinyl exterior; Chain link fencing; Corner lot; City street frontage with curbs, paved streets, sidewalks and street lights

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: 4 bedrooms (3 located on the upper level/main level mix as noted)
• Bathrooms: Primary 3/4 bath; Upper level full bath
• Heating & cooling: Boiler heating; Wall air conditioning unit(s)
• Interior features: Living/dining room; Unfinished basement; Primary bedroom suite; Main floor bedroom; 3 bedrooms on one level; Main floor laundry
• Laundry & utility: Washer; Dryer; Main level laundry; Electric water heater; Rented fuel tank

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).

Location & tenants

• Location reads 70/100 on livability (#340 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Edgerton Public School District (rural): math 32% / reading 37% proficiency, ranked #257 of 301 in MN (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 8 units permitted in Pipestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($815 loan paydown + $12k appreciation (10.0% local appreciation)).
• Pipestone County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,900

Questions for the listing agent

1. Built in 1900 — 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. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.13%
• DSCR: 1.54
• GRM: 7.2

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: 33.2%
• Equity multiple: 3.59×
• Total profit: $85,446
• Equity at exit: $106,214

10-year hold

• IRR: 28.6%
• Equity multiple: 8.11×
• Total profit: $234,872
• Equity at exit: $229,054

Cash invested: $33,012 (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 56128

• Home prices YoY: 21.2%
• Active inventory: 34
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$618
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $334

Break-even live

Break-even rent $949

Max offer price $117,900

Occupancy floor 71%

Sensitivity live

Price	-10% $400	-5% $367	+0% $334	+5% $300	+10% $267
Rent	-10% $225	-5% $280	+0% $334	+5% $388	+10% $442
Rate	-1.0pp $393	-0.5pp $364	base $334	+0.5pp $303	+1.0pp $272

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: $29,475
• Closing costs: $3,537
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $117,900 Active 7 DOM
2. 2026-06-18
   days on market $117,900 Active 5 DOM
3. 2026-06-17
   days on market $117,900 Active 4 DOM
4. 2026-06-16
   days on market $117,900 Active 3 DOM
5. 2026-06-15
   days on market $117,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $117,900 Active 1 DOM

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $1,156 · $96/mo
• Expected delta: +$164/yr (+$14/mo · 16.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 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: $16,462
• − Mortgage interest: −$6,604
• − Property taxes: −$992
• − Insurance: −$590
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$3,430
• Taxable income: $2,213
• Est. tax owed @ 24.0%: −$531
• After-tax cash flow: $3,473/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: Edgerton Public School District
• NCES district ID: 2711220
• Math proficiency: 32% ▼ -19.00%
• Reading proficiency: 37% ▼ -16.00%
• Median HH income: $49,800
• Composite: 29.9/100
• National rank: #6390
• State rank: #257 of 301 in MN

Livability — Edgerton

• Score: 70/100
• State rank: #340
• US rank: #7814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgerton, MN
• Population (ZIP): 1,948

Population outlook (Pipestone County) Hauer SSP2

• Today (2025): 8,600 people
• By 2030: 8,276 · -3.8%
• By 2040: 7,705 · -10.4%
• By 2050: 7,235 · -15.9%
• By 2075: 7,155 · -16.8%
• By 2100: 7,738 · -10.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Pacific Islander 2% Two or more races 2% Asian 1%
• Common ancestry: Iranian 54% Portuguese 4% Subsaharan African 1%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pipestone

• 2024 margin: Solid R (+48.1) · D 25.2% · R 73.3% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -13.1pp · 2024: -48.1pp
• All cycles: 2024: R+48.1 2020: R+45.5 2016: R+46.3 2012: R+23.7 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 35.22%
• Current HPI: 200.98
• 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

+18.0% since first listed

9 events — show timeline

• 2026-06-13 Listed $117,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-12 Listed $117,900 REALTOR® Association of the Sioux Empire
• 2024-06-04 Sold (Public Records) $105,000 Public Records
• 2024-05-31 Sold (MLS) $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-31 Sold (MLS) $105,000 REALTOR® Association of the Sioux Empire
• 2024-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-09 Pending — REALTOR® Association of the Sioux Empire
• 2024-05-06 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-06 Listed $99,900 REALTOR® Association of the Sioux Empire

Property tax history

+7.7%/yr

Latest (2026): $992 · +26.2% YoY. Source: county tax records.