316 Central Ave · Madison, MN 56256

$32,500

2 bd · 1.0 ba · 691 sqft · SingleFamily · 9 Days on market

Built 1905 10,497 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH A SHORT TIME!

Key facts

• Extra long garage
• Main floor laundry
• Front and back entry

Tags

• EXTRA LONG GARAGE
• VERY LARGE YARD
• APPLIANCES INCLUDED
• SHINGLES IN GOOD SHAPE
• MAIN FLOOR LAUNDRY
• FRONT AND BACK ENTRY

Property features AI

Exterior

• Parking: Gravel parking; Detached 1-car garage
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One and one-half levels; Entry level main floor
• Construction: Frame construction; Poured concrete foundation; Built with a 576 sq ft garage
• Exterior features: Vinyl exterior

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom on the main level; Second bedroom on the upper level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; No cooling
• Interior features: Main floor full bath; Main floor primary bedroom; Main floor bedroom; Main floor laundry; Partial, unfinished basement; Forced air heating; No central cooling
• Laundry & utility: Laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($857 rent vs $32k).

Location & tenants

• Location reads 76/100 on livability (#175 in MN, #3,796 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Lac Qui Parle Valley School District (rural): math 44% / reading 44% proficiency, ranked #193 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 9 units permitted in Lac qui Parle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $225 of loan paydown is wiped out by about $975 of value loss. Plan a longer hold.
• Lac qui Parle County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,500

Questions for the listing agent

1. Built in 1905 — 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: 2.64% ✓
• Cap rate: 23.47%
• Cash-on-cash: 61.35%
• DSCR: 3.73
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 60.2%
• Equity multiple: 3.68×
• Total profit: $24,369
• Equity at exit: $4,846

10-year hold

• IRR: 64.9%
• Equity multiple: 7.53×
• Total profit: $59,394
• Equity at exit: $2,810

Cash invested: $9,100 (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 56256

• Home prices YoY: -10.3%
• Active inventory: 16
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $857 medium
• Mortgage (P&I): −$170
• Tax from tax record: −$28 /mo · $330/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $465

Break-even live

Break-even rent $268

Max offer price $32,500

Occupancy floor 41%

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   listed $32,500 Active 317-char remark
2. 2019-02-02
   historical 293-char remark

   Show marketing remark (293 chars)

   2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH A SHORT TIME!

3. 2012-08-03
   soldstatus $12,500 293-char remark

   Show marketing remark (279 chars)

   2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH

4. 2012-08-03
   soldstatus $12,500

   Show marketing remark (279 chars)

   2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH

5. 2012-04-26
   listed $14,900 293-char remark

   Show marketing remark (279 chars)

   2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH

6. 2012-04-26
   listed $14,900

   Show marketing remark (279 chars)

   2 BED 1 BATH HOME OFFERS 1 CAR DETACHED GARAGE. NEWER WINDOWS SIDING, ROOF SHINGLES DONE IN 2010. THIS HOME HAS A NICE LOT WITH A GARDEN AREA IN THE BACK YARD. KITCHEN IS NICE AND OFFERS APPLIANCES. MAINFLOOR LAUNDRY AND ALSO A LARGE LIVINGROOM, WHY RENT WHEN YOU CAN OWN IN SUCH

ⓘ 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: $330 · $28/mo
• Projected year-2 tax: $347 · $29/mo
• Expected delta: +$17/yr (+$1/mo · 5.2%)

ⓘ 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 ≥102°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: $10,279
• − Mortgage interest: −$1,821
• − Property taxes: −$330
• − Insurance: −$162
• − Repairs & maintenance: −$822
• − Management: −$822
• − Depreciation: −$945
• Taxable income: $5,376
• Est. tax owed @ 24.0%: −$1,290
• After-tax cash flow: $4,293/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: Lac Qui Parle Valley School District
• NCES district ID: 2700125
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $44,760
• Composite: 37.32/100
• National rank: #4444
• State rank: #193 of 301 in MN

Livability — Madison

• Score: 76/100
• State rank: #175
• US rank: #3796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, MN
• Population (ZIP): 2,352

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 (97%)
• Race & ethnicity: White 97%
• Common ancestry: Portuguese 35% Iranian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

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: ▼ -21.74%
• Current HPI: 189.1868
• 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

+118.1% since first listed

8 events — show timeline

• 2026-06-08 Sold (MLS) $32,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Listed $32,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-03 Sold (MLS) $12,500 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-03 Sold (MLS) $12,500 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-26 Listed $14,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-26 Listed $14,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-2.3%/yr

Latest (2026): $330 · +8.6% YoY. Source: county tax records.