153 2nd St · Dawson, MN 56232

$134,900

3 bd · 2.0 ba · 1,728 sqft · SingleFamily · 288 Days on market

Built 1976 9,757 sqft lot ↓ 24% since listing

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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 +8.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• Schools +4.2/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks MLS

Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

Key facts

• 9,757 sq ft lot
• Garage
• Built 1976

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (8.8% below list).
• Recommended offer: $111k (17.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#145 in MN, #3,213 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Dawson-Boyd Public School District (rural): math 42% / reading 58% proficiency, ranked #124 of 301 in MN (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Stevens Elementary (math 47% / reading 57%, grade C-, #368 of 857 statewide, top 47%, 288 students, 45% FRL); Dawson-Boyd Secondary (math 37% / reading 57%, grade D-, #166 of 471 statewide, top 39%, 261 students, 46% FRL) — zoned schools average 46% FRL vs 29% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 9 units permitted in Lac qui Parle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($933 loan paydown + $6k appreciation (4.2% local appreciation)).
• Lac qui Parle County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 288 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $111,295 (17.5% 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. It's been on market 288 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.25%
• DSCR: 0.81
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.45×
• Total profit: $16,925
• Equity at exit: $70,295

10-year hold

• IRR: 9.5%
• Equity multiple: 2.64×
• Total profit: $61,772
• Equity at exit: $116,515

Cash invested: $37,772 (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 56232

• Home prices YoY: 2.1%
• Active inventory: 29
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$342 /mo · $4,102/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-134

Break-even live

Break-even rent $1,399

Max offer price $111,295

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-95	+0% $-134	+5% $-172	+10% $-210
Rent	-10% $-231	-5% $-182	+0% $-134	+5% $-85	+10% $-36
Rate	-1.0pp $-66	-0.5pp $-99	base $-134	+0.5pp $-169	+1.0pp $-204

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-22
   days on market $134,900 Active 288 DOM
2. 2026-06-21
   days on market $134,900 Active 287 DOM
3. 2026-06-21
   days on market $134,900 Active 286 DOM
4. 2026-06-18
   days on market $134,900 Active 284 DOM
5. 2026-06-17
   days on market $134,900 Active 283 DOM
6. 2026-06-16
   days on market $134,900 Active 282 DOM
7. 2026-06-15
   pricedays on market $134,900 Active 281 DOM
8. 2026-06-13
   days on market $139,900 Active 279 DOM
9. 2026-06-12
   days on market $139,900 Active 278 DOM
10. 2026-06-09
    days on market $139,900 Active 275 DOM
11. 2026-06-08
    days on market $139,900 Active 274 DOM
12. 2026-06-07
    days on market $139,900 Active 273 DOM
13. 2026-06-05
    days on market $139,900 Active 271 DOM
14. 2026-06-04
    days on market $139,900 Active 269 DOM
15. 2026-06-02
    days on market $139,900 Active 268 DOM
16. 2026-06-01
    days on market $139,900 Active 267 DOM
17. 2026-05-31
    days on market $139,900 Active 266 DOM
18. 2026-05-31
    days on market $139,900 Active 265 DOM
19. 2026-03-07
    price $139,900 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

20. 2026-03-07
    status Active 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

21. 2026-03-05
    historical 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

22. 2026-01-14
    price $144,000 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

23. 2025-12-24
    status Active 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

24. 2025-12-09
    historical Contingent - Inspection 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

25. 2025-09-04
    listed $149,900 Active 1576-char remark

    Show marketing remark (1576 chars)

    Welcome to this Charming Split-Level Home with Sunroom and Spacious Outdoor Living!! Nestled in a desirable location, offering a perfect blend of comfort, functionality, and potential. This inviting property features a bright and airy four-season sunroom, ideal for relaxing or entertaining year-round. The main level includes two comfortable bedrooms and a full bathroom, while the heart of the home offers an open kitchen with a center island providing plenty of space for cooking, gathering, and everyday living. Just off the kitchen, a cozy living room. The lower level offers even more living space with a third bedroom, an additional full bathroom, and a spacious family room that is warmed by a wood-burning fireplace, creating a welcoming atmosphere for all seasons. The basement area is ready to be finished to suit your needs perfectly for a home office, gym, playroom, or extra just an extra living space, excellent for entertaining. Step outside to an expansive deck that’s perfect for entertaining, complete with a designated spot for a pool and covered storage space underneath. The attached garage adds convenience, while a second detached garage with a cement slab off the side offers additional storage, workspace, or room for recreational equipment. Other features include a reliable and energy-efficient Marathon hot water heater and ample outdoor storage options to keep your home organized inside and out. This home combines comfortable living with exceptional indoor and outdoor amenities—don’t miss your chance to make it your own!

26. 2025-09-01
    historical
27. 2025-05-05
    price $149,900
28. 2024-12-11
    price $165,000
29. 2024-09-26
    price $169,900
30. 2024-07-15
    price $175,000
31. 2024-06-25
    listed $185,000 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: $4,102 · $342/mo
• Projected year-2 tax: $4,102 · $342/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 ≥100°F today · 13 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: $14,762
• − Mortgage interest: −$7,556
• − Property taxes: −$4,102
• − Insurance: −$674
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,924
• Taxable loss: −$3,857
• Est. tax savings @ 24.0%: +$926
• After-tax cash flow: $-678/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: Dawson-Boyd Public School District
• NCES district ID: 2710090
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $47,615
• Composite: 42.5/100
• National rank: #3204
• State rank: #124 of 301 in MN

Livability — Dawson

• Score: 77/100
• State rank: #145
• US rank: #3213

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: Dawson, MN
• Population (ZIP): 2,365

Population outlook (Lac qui Parle County) Hauer SSP2

• Today (2025): 6,291 people
• By 2030: 6,021 · -4.3%
• By 2040: 5,517 · -12.3%
• By 2050: 5,094 · -19.0%
• By 2075: 4,640 · -26.2%
• By 2100: 4,173 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Portuguese 41% English 3% Scottish 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Lac qui Parle

• 2024 margin: Solid R (+32.2) · D 32.9% · R 65.2% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: 5.9pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.8 2016: R+25.9 2012: D+0.9 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.24%
• Current HPI: 210.1619
• 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

-24.4% since first listed

13 events — show timeline

• 2026-03-07 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-14 Price Changed $144,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-24 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-04 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-05 Price Changed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-11 Price Changed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-26 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-15 Price Changed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-25 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.0%/yr

Latest (2026): $4,102 · +33.8% YoY. Source: county tax records.