207 S Minnesota St · New Ulm, MN 56073

$189,900

2 bd · 2.0 ba · 1,294 sqft · SingleFamily public records · 29 Days on market

Built 1858 4,356 sqft lot Est $188k · at est.

---

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 +20.6/30.0
• ARV discount +7.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.5/10.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous investment opportunity is now available! Clean 2 - 1 bedroom duplex with a new roof and updated throughout inside. Rent is $275 up and $300 down. Invest today!

Key facts

• Off street parking
• Downtown area
• Newly remodeled

Tags

• DOWNTOWN AREA
• NEWLY REMODELED
• OFF STREET PARKING

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property type
• Construction: Brick and stucco construction; Above-grade finished area approximately 1,294
• Exterior features: Asphalt roof; Publicly maintained road access; Lot approximately 19 x 165 (0.1 acre)

Interior

• Kitchen: Dishwasher; Cooktop; Range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Unfinished partial basement with crawl space
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/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 $180k (5.2% below list).
• Recommended offer: $180k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.3% in New Ulm — 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 82/100 on livability (#39 in MN, #1,102 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• New Ulm Public School District (town): math 51% / reading 51% proficiency, ranked #104 of 301 in MN (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 41 units permitted in Brown County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Brown County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $54k; list at $190k implies a 252% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1858 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000 (5.2% below list)

Questions for the listing agent

1. Built in 1858 — 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: 0.95% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $187,630
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 S Franklin St	0.37mi	3/2.0 (+1)	1,329 (+3%)	4mo	$180,000	$135	69
119 N Jefferson St	0.55mi	2/1.0	1,215 (-6%)	3mo	$167,200	$138	58
717 S Minnesota St	0.44mi	3/1.0 (+1)	1,200 (-7%)	11mo	$180,000	$150	49
921 S Front St	0.69mi	3/2.0 (+1)	1,248 (-4%)	10mo	$210,000	$168	49
912 Broadway St St S	0.60mi	3/3.0 (+1)	1,408 (+9%)	3mo	$194,900	$138	46
601 S Minnesota St	0.31mi	3/1.5 (+1)	1,152 (-11%)	17mo	$167,500	$145	46
827 S Franklin St	0.63mi	3/1.5 (+1)	1,212 (-6%)	19mo	$168,100	$139	37
107 North Franklin Street St	0.47mi	3/1.5 (+1)	1,110 (-14%)	12mo	$199,900	$180	37
522 N Franklin St	0.74mi	3/2.0 (+1)	1,202 (-7%)	14mo	$119,773	$100	37
614 N Minnesota St	0.73mi	3/1.5 (+1)	1,194 (-8%)	19mo	$157,500	$132	30
519 N German St	0.64mi	3/1.0 (+1)	1,099 (-15%)	10mo	$165,000	$150	27
711 S Payne St	0.65mi	3/1.5 (+1)	1,102 (-15%)	21mo	$240,000	$218	20

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-14,676
• Equity at exit: $28,315

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $7,776
• Equity at exit: $16,419

Cash invested: $53,172 (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 56073

• Active inventory: 85
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $254

Break-even live

Break-even rent $1,479

Max offer price $189,900

Occupancy floor 81%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Center St New Ulm, MN	3.0	2.0	1606	$1,800	$1.12	44d	1	0.33mi

Listing history 26 events

1. 2026-06-18
   days on market $189,900 Active 29 DOM
2. 2026-06-17
   days on market $189,900 Active 28 DOM
3. 2026-06-16
   days on market $189,900 Active 27 DOM
4. 2026-06-15
   days on market $189,900 Active 26 DOM
5. 2026-06-13
   days on market $189,900 Active 24 DOM
6. 2026-06-12
   days on market $189,900 Active 23 DOM
7. 2026-06-09
   days on market $189,900 Active 20 DOM
8. 2026-06-08
   days on market $189,900 Active 19 DOM
9. 2026-06-07
   days on market $189,900 Active 18 DOM
10. 2026-06-07
    days on market $189,900 Active 17 DOM
11. 2026-06-04
    days on market $189,900 Active 14 DOM
12. 2026-06-02
    days on market $189,900 Active 13 DOM
13. 2026-06-01
    days on market $189,900 Active 12 DOM
14. 2026-05-31
    days on market $189,900 Active 11 DOM
15. 2026-05-31
    days on market $189,900 Active 10 DOM
16. 2026-05-20
    listed $189,900 Active
17. 2008-04-30
    soldstatus $54,000 169-char remark

    Show marketing remark (156 chars)

    Duplex with newer windows, all wiring updated in 1988, close to downtown, some offstreet parking, separate utilities. Updated throughout. Two - 1 bed units.

18. 2008-04-30
    soldstatus $54,000

    Show marketing remark (156 chars)

    Duplex with newer windows, all wiring updated in 1988, close to downtown, some offstreet parking, separate utilities. Updated throughout. Two - 1 bed units.

19. 2008-04-30
    soldstatus $54,000 156-char remark

    Show marketing remark (156 chars)

    Duplex with newer windows, all wiring updated in 1988, close to downtown, some offstreet parking, separate utilities. Updated throughout. Two - 1 bed units.

20. 2008-03-27
    historical 169-char remark

    Show marketing remark (169 chars)

    Fabulous investment opportunity is now available! Clean 2 - 1 bedroom duplex with a new roof and updated throughout inside. Rent is $275 up and $300 down. Invest today!

21. 2007-11-16
    listed $56,900 156-char remark

    Show marketing remark (156 chars)

    Duplex with newer windows, all wiring updated in 1988, close to downtown, some offstreet parking, separate utilities. Updated throughout. Two - 1 bed units.

22. 2006-11-16
    listed $56,900 169-char remark

    Show marketing remark (169 chars)

    Fabulous investment opportunity is now available! Clean 2 - 1 bedroom duplex with a new roof and updated throughout inside. Rent is $275 up and $300 down. Invest today!

23. 2006-09-01
    soldstatus $42,350
24. 2006-08-29
    soldstatus $42,350
25. 2006-08-07
    historical
26. 2006-03-31
    listed $44,500

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,623 · $135/mo
• Expected delta: +$503/yr (+$42/mo · 45.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $21,600
• − Mortgage interest: −$10,637
• − Property taxes: −$1,120
• − Insurance: −$950
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,524
• Taxable loss: −$87
• Est. tax savings @ 24.0%: +$21
• After-tax cash flow: $3,065/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: New Ulm Public School District
• NCES district ID: 2723490
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $53,171
• Composite: 43.93/100
• National rank: #2906
• State rank: #104 of 301 in MN

Livability — New Ulm

• Score: 82/100
• State rank: #39
• US rank: #1102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Ulm, MN
• City population: 17,325
• Population (ZIP): 17,325

Population outlook (Brown County) Hauer SSP2

• Today (2025): 24,403 people
• By 2030: 23,790 · -2.5%
• By 2040: 22,309 · -8.6%
• By 2050: 20,948 · -14.2%
• By 2075: 19,038 · -22.0%
• By 2100: 16,658 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 9% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+35.2) · D 31.5% · R 66.7% · Other 1.8%
• 2008→2024 swing: -23.1pp toward R · 2008: -12.1pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+32.8 2016: R+36.2 2012: R+16.6 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -166.22%
• Current HPI: 192.7295
• 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

+326.7% since first listed

11 events — show timeline

• 2026-05-20 Listed $189,900 RASM
• 2008-04-30 Sold (Public Records) $54,000 Public Records
• 2008-04-30 Sold (MLS) $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-30 Sold (MLS) $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-11-16 Listed $56,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-16 Listed $56,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-01 Sold (MLS) $42,350 NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-29 Sold (Public Records) $42,350 Public Records
• 2006-08-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-31 Listed $44,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2025): $1,120 · +18.4% YoY. Source: county tax records.