120 E Center Ave · McGregor, MN 55760

$109,000

2 bd · 2.0 ba · 1,382 sqft · Other public records · 36 Days on market

Built 2001 0.29 ac lot

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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 +13.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +4.1/10.0
• Livability +3.4/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

What a great home at a great price in a great location on a corner lot. One level living with a large kitchen, living room with a fireplace. Attached garage and the large yard are just an added bonus.

Key facts

• Attached garage
• Large yard
• Large kitchen

Tags

• CORNER LOT
• LARGE KITCHEN
• LIVING ROOM WITH FIREPLACE
• ATTACHED GARAGE
• LARGE YARD

Property features AI

Exterior

• Parking: Attached garage; 2-car garage (approx. 20 x 24; 7' high door, 16' wide opening)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Single-story; Facing information not provided
• Construction: Frame construction; Built on a slab; Foundation dimensions ~30 x 45
• Exterior features: Vinyl exterior; Lot approximately 0.287 acres (dimensions ~105 x 115)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; 1 quarter bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: One-level living; Slab foundation; Fireplace (1)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $109k.

Deal economics

• At list price, monthly cash flow is $4 ($43/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#429 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, health & safety C-, amenities F.
• Mcgregor Public School District (rural): math 31% / reading 44% proficiency, ranked #243 of 301 in MN (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 94 active listings in the ZIP; 134 units permitted in Aitkin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($754 loan paydown + $11k appreciation (10.0% local appreciation)).
• Aitkin County population projected at -25% 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.01% ✓
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 8.3

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: 24.4%
• Equity multiple: 2.96×
• Total profit: $59,678
• Equity at exit: $98,196

10-year hold

• IRR: 21.6%
• Equity multiple: 6.76×
• Total profit: $175,727
• Equity at exit: $211,763

Cash invested: $30,520 (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 55760

• Home prices YoY: 7.3%
• Active inventory: 94
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,096 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$246 /mo · $2,946/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $4

Break-even live

Break-even rent $1,092

Max offer price $109,000

Occupancy floor 95%

Sensitivity live

Price	-10% $65	-5% $34	+0% $4	+5% $-27	+10% $-58
Rent	-10% $-83	-5% $-40	+0% $4	+5% $47	+10% $90
Rate	-1.0pp $59	-0.5pp $31	base $4	+0.5pp $-25	+1.0pp $-53

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-31
   statusdays on market $109,000 Pending 36 DOM
2. 2026-05-04
   historical Contingent - Third Party Approval 200-char remark
3. 2026-04-24
   listed $109,000 Active 200-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: $2,946 · $246/mo
• Projected year-2 tax: $2,946 · $246/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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,156
• − Mortgage interest: −$6,106
• − Property taxes: −$2,946
• − Insurance: −$545
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$3,171
• Taxable loss: −$1,716
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $455/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: Mcgregor Public School District
• NCES district ID: 2719170
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $39,225
• Composite: 31.35/100
• National rank: #5996
• State rank: #243 of 301 in MN

Livability — McGregor

• Score: 67/100
• State rank: #429
• US rank: #10140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McGregor, MN
• Population (ZIP): 2,831

Population outlook (Aitkin County) Hauer SSP2

• Today (2025): 14,340 people
• By 2030: 13,514 · -5.8%
• By 2040: 11,928 · -16.8%
• By 2050: 10,804 · -24.7%
• By 2075: 9,555 · -33.4%
• By 2100: 8,380 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Native American 5% Two or more races 3% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 15% Lithuanian 6% Scottish 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Aitkin

• 2024 margin: Solid R (+30.9) · D 33.8% · R 64.7% · Other 1.5%
• 2008→2024 swing: -30.9pp toward R · 2008: 0.1pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.4 2016: R+25.9 2012: R+1.3 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.76%
• Current HPI: 231.677
• 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

3 events — show timeline

• 2026-05-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $109,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2026): $2,946 · -2.1% YoY. Source: county tax records.