14 6th Ave NW · Faribault, MN 55021

$150,000

3 bd · 3.0 ba · 1,529 sqft · SingleFamily public records · 42 Days on market

Built 1888 5,445 sqft lot $98/sqft · 8% above area Est $179k · 16% under

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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 +25.8/30.0
• ARV discount +14.8/15.0
• DSCR +8.6/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This versatile property offers the best of both worlds-currently configured as a duplex, it can easily be converted back into a spacious single family home. With separate living spaces, it is ideal for investors, multi-generational living, or owner-occupants looking to offset their mortgage with rental income. It is a great opportunity for buyers looking to build equity and customize to their taste. With the right vision, this property has a strong potential to shine-whether you maintain it as a two-unit income property or transform it into a large single-family residence. This is a value-add opportunity you won't want to miss. Bring your ideas and make it your own.

Key facts

• Income property
• Duplex
• 5,445 sq ft lot

Tags

• DUPLEX
• SEPARATE LIVING SPACES
• MULTI-GENERATIONAL LIVING
• INCOME PROPERTY
• VALUE-ADD OPPORTUNITY

Property features AI

Exterior

• Parking: Gravel parking; Detached 1-car garage (approx. 20x20)
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; Two levels; Main-level entry
• Construction: Shingle roof (over 8 years old); Foundation approximately 26x38; Built with wood construction
• Exterior features: Wood exterior; Corner lot; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms (includes main-level bedrooms)
• Bathrooms: Main-level full bath; Upper-level 3/4 bath; One quarter-bath
• Heating & cooling: Forced air heating; No central air
• Interior features: Eat-in kitchen and informal dining area; Wheelchair ramp(s); Full basement
• Laundry & utility: Washer (located in basement); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.1% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 165 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% of comp listings sitting > 30 days — soft ceiling on asking rent; 93 units permitted in Rice County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (median comp): $179,192
• List price: $150,000
• Delta: -16.29%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 4th Ave NW	0.22mi	3/2.0	1,728 (+13%)	21mo	$175,000	$101	47

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,181
• Equity at exit: $22,365

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $28,761
• Equity at exit: $12,969

Cash invested: $42,000 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 165
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$787
• Tax from tax record: −$152 /mo · $1,826/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $363

Break-even live

Break-even rent $1,267

Max offer price $150,000

Occupancy floor 74%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
429 8th Ave NW Unit FA-104 Faribault, MN	2.0	2.0	1070	$1,500	$1.40	44d	1	0.34mi
429 8th Ave NW Unit FA-404 Faribault, MN	2.0	2.0	1070	$1,675	$1.57	44d	1	0.34mi
429 8th Ave NW Unit FA-304 Faribault, MN	2.0	2.0	1070	$1,625	$1.52	44d	1	0.34mi
417 1st Ave NW Unit 1 Faribault, MN	2.0	1.5	1500	$1,450	$0.97	44d	1	0.51mi
417 1st Ave NW Unit 2 Faribault, MN	3.0	1.0	1500	$1,575	$1.05	44d	1	0.51mi
31 3rd St NE Unit R31-301 Faribault, MN	2.0	1.0	1400	$1,900	$1.36	44d	1	0.57mi
728 Willow St Faribault, MN	3.0	1.0	1200	$1,995	$1.66	44d	1	0.62mi
1125 Central Ave N Apt 3 Faribault, MN	2.0	1.0	1200	$1,350	$1.12	44d	1	0.99mi
2275 4th St NW Faribault, MN	2.0–3.0	2.0	1113	$1,620	$1.45	5d	8	1.23mi

Listing history 17 events

1. 2026-06-19
   days on market $150,000 Active 42 DOM
2. 2026-06-18
   days on market $150,000 Active 41 DOM
3. 2026-06-17
   days on market $150,000 Active 40 DOM
4. 2026-06-16
   days on market $150,000 Active 39 DOM
5. 2026-06-15
   days on market $150,000 Active 38 DOM
6. 2026-06-14
   days on market $150,000 Active 36 DOM
7. 2026-06-12
   statusdays on market $150,000 Active 35 DOM
8. 2026-06-09
   days on market $150,000 Contingent - Inspection 32 DOM
9. 2026-06-08
   days on market $150,000 Contingent - Inspection 31 DOM
10. 2026-06-07
    days on market $150,000 Contingent - Inspection 30 DOM
11. 2026-06-05
    days on market $150,000 Contingent - Inspection 27 DOM
12. 2026-06-03
    days on market $150,000 Contingent - Inspection 26 DOM
13. 2026-06-02
    days on market $150,000 Contingent - Inspection 25 DOM
14. 2026-06-01
    days on market $150,000 Contingent - Inspection 24 DOM
15. 2026-05-31
    days on market $150,000 Contingent - Inspection 23 DOM
16. 2026-05-30
    days on market $150,000 Contingent - Inspection 22 DOM
17. 2026-05-08
    listed $150,000 Active 679-char remark

ⓘ 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: $1,826 · $152/mo
• Projected year-2 tax: $1,826 · $152/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 ≥99°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: $20,724
• − Mortgage interest: −$8,402
• − Property taxes: −$1,826
• − Insurance: −$750
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$4,364
• Taxable income: $2,066
• Est. tax owed @ 24.0%: −$496
• After-tax cash flow: $3,860/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

Amenities C+ 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: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, 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

3 events — show timeline

• 2026-06-09 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2025): $1,826 · +11.3% YoY. Source: county tax records.