614 Andrews Ave · Breckenridge, MN 56520

$115,500

2 bd · 2.0 ba · 996 sqft · SingleFamily public records · 31 Days on market

Built 1948 1,628 sqft lot

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Why this score? — see what drove the F 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
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute starter home with plenty of appeal! this 2-bedroom 2 bath property has an extra room that could be used for an office, tv room or extra bedroom. Large storage area. Storage shed included. lots of updates.

Key facts

• Extra room
• Family room
• Storage shed

Tags

• FAMILY ROOM
• EXTRA ROOM
• CENTRAL AIR
• NEW INTERIOR PAINT
• BATHROOMS UPDATED
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (31.1% below list).
• Recommended offer: $80k (31.1% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.9% in Breckenridge — 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 74/100 on livability (#232 in MN, #4,940 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Breckenridge Public School District (town): math 42% / reading 44% proficiency, ranked #199 of 301 in MN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Breckenridge Elementary (math 47% / reading 52%, grade D, #423 of 857 statewide, top 55%, 279 students, 56% FRL); Breckenridge Middle (math 22% / reading 32%, grade F, #214 of 258 statewide, top 83%, 108 students, 52% FRL); Breckenridge Senior High (math 54% / reading 32%, grade F, #213 of 471 statewide, top 45%, 227 students, 36% FRL).
• Market conditions: 37 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 15 units permitted in Wilkin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $799 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wilkin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $88k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,604 (31.1% 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 31 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.69% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• GRM: 12.1

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: -23.3%
• Equity multiple: 0.20×
• Total profit: $-25,785
• Equity at exit: $17,221

10-year hold

• IRR: -18.0%
• Equity multiple: 0.02×
• Total profit: $-31,623
• Equity at exit: $9,986

Cash invested: $32,340 (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 56520

• Home prices YoY: -27.1%
• Active inventory: 37
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $796 high
• Mortgage (P&I): −$606
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $-111

Break-even live

Break-even rent $936

Max offer price $95,959

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-78	+0% $-111	+5% $-143	+10% $-176
Rent	-10% $-174	-5% $-142	+0% $-111	+5% $-79	+10% $-48
Rate	-1.0pp $-52	-0.5pp $-81	base $-111	+0.5pp $-141	+1.0pp $-171

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 3rd Ave N Unit 205 Wahpeton, ND	2.0	1.0	550	$660	$1.20	23d	1	1.02mi
504 3rd Ave N Unit 102 Wahpeton, ND	2.0	1.0	550	$650	$1.18	23d	1	1.02mi
614 Dakota Ave Apt 209 Wahpeton, ND	1.0	1.0	575	$595	$1.03	45d	1	1.12mi
902 8th Ave S Wahpeton, ND	2.0	1.0	1094	$900	$0.82	15d	2	1.47mi
901 8th Ave S Wahpeton, ND	2.0	2.0	978	$1,085	$1.11	15d	1	1.48mi

Listing history 9 events

1. 2026-04-20
   status Pending
2. 2026-04-13
   price $115,500
3. 2026-03-20
   listed $118,500 Active
4. 2026-01-06
   soldstatus $87,500 Sold 212-char remark

   Show marketing remark (212 chars)

   Cute starter home with plenty of appeal! this 2-bedroom 2 bath property has an extra room that could be used for an office, tv room or extra bedroom. Large storage area. Storage shed included. lots of updates.

5. 2026-01-05
   soldstatus $87,500
6. 2025-11-18
   status Pending 212-char remark

   Show marketing remark (212 chars)

   Cute starter home with plenty of appeal! this 2-bedroom 2 bath property has an extra room that could be used for an office, tv room or extra bedroom. Large storage area. Storage shed included. lots of updates.

7. 2025-11-14
   listed $89,900 Active 212-char remark

   Show marketing remark (212 chars)

   Cute starter home with plenty of appeal! this 2-bedroom 2 bath property has an extra room that could be used for an office, tv room or extra bedroom. Large storage area. Storage shed included. lots of updates.

8. 2023-07-10
   soldstatus $72,100 121-char remark

   Show marketing remark (121 chars)

   Check out great buy with 2 bedrooms, 2 bathrooms, updated furnace, central air, wood floors, storage shed and new siding.

9. 2023-06-01
   listed $68,500 121-char remark

   Show marketing remark (121 chars)

   Check out great buy with 2 bedrooms, 2 bathrooms, updated furnace, central air, wood floors, storage shed and new siding.

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$133/yr (+$11/mo · 12.9%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,552
• − Mortgage interest: −$6,470
• − Property taxes: −$1,028
• − Insurance: −$578
• − Repairs & maintenance: −$764
• − Management: −$764
• − Depreciation: −$3,360
• Taxable loss: −$3,411
• Est. tax savings @ 24.0%: +$819
• After-tax cash flow: $-509/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: Breckenridge Public School District
• NCES district ID: 2706150
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $49,435
• Composite: 36.93/100
• National rank: #4537
• State rank: #199 of 301 in MN

Livability — Breckenridge

• Score: 74/100
• State rank: #232
• US rank: #4940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Breckenridge, MN
• Population (ZIP): 3,886

Population outlook (Wilkin County) Hauer SSP2

• Today (2025): 6,115 people
• By 2030: 5,947 · -2.7%
• By 2040: 5,580 · -8.7%
• By 2050: 5,140 · -15.9%
• By 2075: 4,417 · -27.8%
• By 2100: 3,625 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 22% Romanian 5% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wilkin

• 2024 margin: Solid R (+39.0) · D 29.5% · R 68.5% · Other 2.0%
• 2008→2024 swing: -32.1pp toward R · 2008: -6.9pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+38.0 2016: R+37.7 2012: R+19.5 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.25%
• Current HPI: 191.936
• 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

+68.6% since first listed

9 events — show timeline

• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $115,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-20 Listed $118,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-06 Sold (MLS) $87,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-05 Sold (Public Records) $87,500 Public Records
• 2025-11-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-14 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-10 Sold (MLS) $72,100 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-01 Listed $68,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2026): $1,028 · +28.2% YoY. Source: county tax records.