1902 26th Ave NW · Rochester, MN 55901

$174,900

3 bd · 1.5 ba · 1,534 sqft · Townhouse public records · 51 Days on market

Built 1974 566 sqft lot $114/sqft · 28% below area Est $244k · 28% under $325/mo HOA · 16% of rent

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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 +18.5/30.0
• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• DSCR +5.8/10.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in-ready 2-story townhome in NW Rochester with 3 upper-level bedrooms, 2 bathrooms, and an attached 1-car garage. Functional floor plan with open living/dining space, kitchen with breakfast bar, fireplace, and ample storage. Association covers lawn care, snow removal, water/sewer, garbage, and exterior maintenance. Convenient location near Hwy 52, parks, trails, shopping, grocery, restaurants and gyms.

Key facts

• $325 HOA
• Garage
• Built 1974

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.5% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.2%/yr); 509 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 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 $5k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y 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.

Recommended offer $169,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 7.0

CMA / ARV

• ARV (median comp): $244,001
• List price: $174,900
• Delta: -28.32%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-19,221
• Equity at exit: $26,078

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-9,135
• Equity at exit: $15,122

Cash invested: $48,972 (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 55901

• Home prices YoY: -33.2%
• Rents YoY: 2.2%
• Active inventory: 509
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$917
• Tax from tax record: −$167 /mo · $2,002/yr
• Insurance: −$73
• HOA: −$325
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $167

Break-even live

Break-even rent $1,876

Max offer price $174,900

Occupancy floor 87%

Sensitivity live

Price	-10% $266	-5% $216	+0% $167	+5% $117	+10% $68
Rent	-10% $2	-5% $84	+0% $167	+5% $249	+10% $332
Rate	-1.0pp $255	-0.5pp $211	base $167	+0.5pp $122	+1.0pp $75

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2328 Hampton Rhodes Ct NW Rochester, MN	4.0	2.0	2000	$2,150	$1.07	14d	1	0.27mi
1888 20th St NW Unit 1888 Rochester, MN	3.0	1.0	1200	$1,250	$1.04	44d	1	0.40mi
1460 26th St NW Rochester, MN	3.0	2.0	1100	$1,895	$1.72	21d	1	0.86mi
1991 29th Pl NW #206 Rochester, MN	2.0	1.5	1200	$1,600	$1.33	44d	1	0.87mi
3680 9th St NW Rochester, MN	2.0–3.0	2.5	1600	$2,695	$1.68	14d	17	1.26mi
1617 4th St NW Rochester, MN	3.0	1.0	790	$1,135	$1.44	14d	1	1.28mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,695	$1.38	14d	8	1.33mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,734	$1.82	14d	6	1.35mi
2257 Jordyn Rd NW Rochester, MN	3.0	2.0	1715	$3,440	$2.01	44d	1	1.36mi
4275 Heritage Pl NW Rochester, MN	2.0–5.0	2.0–3.5	2067	$3,545	$1.71	14d	9	1.38mi
2127 Preserve Dr NW Rochester, MN	3.0	2.5	2136	$3,675	$1.72	44d	1	1.42mi
1990 Ashland Dr NW Rochester, MN	1.0–3.0	1.0–2.0	920	$1,726	$1.88	14d	3	1.45mi
1350 2nd St NW Rochester, MN	3.0	2.0	1978	$2,350	$1.19	21d	1	1.48mi

HOA detail

• Monthly dues: $325 · $3,900/yr
• Likely covers: watersewertrashlandscapingsnow removalexterior maint.gym

Listing history 28 events

1. 2026-06-10
   status $174,900 Pending 51 DOM
2. 2026-06-09
   days on market $174,900 Active 51 DOM
3. 2026-06-08
   days on market $174,900 Active 50 DOM
4. 2026-06-07
   days on market $174,900 Active 49 DOM
5. 2026-06-05
   days on market $174,900 Active 46 DOM
6. 2026-06-03
   days on market $174,900 Active 45 DOM
7. 2026-06-02
   days on market $174,900 Active 44 DOM
8. 2026-06-01
   days on market $174,900 Active 43 DOM
9. 2026-05-31
   days on market $174,900 Active 42 DOM
10. 2026-05-30
    days on market $174,900 Active 41 DOM
11. 2026-05-01
    status Active 410-char remark

    Show marketing remark (410 chars)

    Move-in-ready 2-story townhome in NW Rochester with 3 upper-level bedrooms, 2 bathrooms, and an attached 1-car garage. Functional floor plan with open living/dining space, kitchen with breakfast bar, fireplace, and ample storage. Association covers lawn care, snow removal, water/sewer, garbage, and exterior maintenance. Convenient location near Hwy 52, parks, trails, shopping, grocery, restaurants and gyms.

12. 2026-04-29
    historical 410-char remark

    Show marketing remark (410 chars)

    Move-in-ready 2-story townhome in NW Rochester with 3 upper-level bedrooms, 2 bathrooms, and an attached 1-car garage. Functional floor plan with open living/dining space, kitchen with breakfast bar, fireplace, and ample storage. Association covers lawn care, snow removal, water/sewer, garbage, and exterior maintenance. Convenient location near Hwy 52, parks, trails, shopping, grocery, restaurants and gyms.

13. 2026-04-16
    listed $174,900 Active 410-char remark

    Show marketing remark (410 chars)

    Move-in-ready 2-story townhome in NW Rochester with 3 upper-level bedrooms, 2 bathrooms, and an attached 1-car garage. Functional floor plan with open living/dining space, kitchen with breakfast bar, fireplace, and ample storage. Association covers lawn care, snow removal, water/sewer, garbage, and exterior maintenance. Convenient location near Hwy 52, parks, trails, shopping, grocery, restaurants and gyms.

14. 2020-05-15
    soldstatus $157,000 Sold 667-char remark

    Show marketing remark (667 chars)

    Move right into this maintenance free, Completely Remodeled 2 story Townhouse with 3 bedrooms (all on 2nd level), 1 1/2 bathrooms, and an attached 1 car garage. Prime location in NW Rochester, close to HWY 52, Bike Trails, Bus stops, Parks, and shopping centers are all within minutes of this house. This beautiful, maintenance free, townhouse includes brand new flooring throughout the house, newer appliances, a ton of storage space, Open Concept with a galley kitchen and Breakfast Bar. Wood burning fireplace in living room and much more! Lawn care, snow removal, Garbage, Water/Sewer, and Exterior maintenance are all included in this pet friendly association!!

15. 2020-05-14
    status Pending 667-char remark

    Show marketing remark (667 chars)

    Move right into this maintenance free, Completely Remodeled 2 story Townhouse with 3 bedrooms (all on 2nd level), 1 1/2 bathrooms, and an attached 1 car garage. Prime location in NW Rochester, close to HWY 52, Bike Trails, Bus stops, Parks, and shopping centers are all within minutes of this house. This beautiful, maintenance free, townhouse includes brand new flooring throughout the house, newer appliances, a ton of storage space, Open Concept with a galley kitchen and Breakfast Bar. Wood burning fireplace in living room and much more! Lawn care, snow removal, Garbage, Water/Sewer, and Exterior maintenance are all included in this pet friendly association!!

16. 2020-04-03
    historical Contingent - Inspection 667-char remark

    Show marketing remark (667 chars)

    Move right into this maintenance free, Completely Remodeled 2 story Townhouse with 3 bedrooms (all on 2nd level), 1 1/2 bathrooms, and an attached 1 car garage. Prime location in NW Rochester, close to HWY 52, Bike Trails, Bus stops, Parks, and shopping centers are all within minutes of this house. This beautiful, maintenance free, townhouse includes brand new flooring throughout the house, newer appliances, a ton of storage space, Open Concept with a galley kitchen and Breakfast Bar. Wood burning fireplace in living room and much more! Lawn care, snow removal, Garbage, Water/Sewer, and Exterior maintenance are all included in this pet friendly association!!

17. 2020-03-07
    price $159,900 667-char remark

    Show marketing remark (667 chars)

    Move right into this maintenance free, Completely Remodeled 2 story Townhouse with 3 bedrooms (all on 2nd level), 1 1/2 bathrooms, and an attached 1 car garage. Prime location in NW Rochester, close to HWY 52, Bike Trails, Bus stops, Parks, and shopping centers are all within minutes of this house. This beautiful, maintenance free, townhouse includes brand new flooring throughout the house, newer appliances, a ton of storage space, Open Concept with a galley kitchen and Breakfast Bar. Wood burning fireplace in living room and much more! Lawn care, snow removal, Garbage, Water/Sewer, and Exterior maintenance are all included in this pet friendly association!!

18. 2020-02-14
    listed $164,900 Active 667-char remark

    Show marketing remark (667 chars)

    Move right into this maintenance free, Completely Remodeled 2 story Townhouse with 3 bedrooms (all on 2nd level), 1 1/2 bathrooms, and an attached 1 car garage. Prime location in NW Rochester, close to HWY 52, Bike Trails, Bus stops, Parks, and shopping centers are all within minutes of this house. This beautiful, maintenance free, townhouse includes brand new flooring throughout the house, newer appliances, a ton of storage space, Open Concept with a galley kitchen and Breakfast Bar. Wood burning fireplace in living room and much more! Lawn care, snow removal, Garbage, Water/Sewer, and Exterior maintenance are all included in this pet friendly association!!

19. 2018-12-12
    historical
20. 2011-11-02
    soldstatus $72,500
21. 2011-11-02
    soldstatus $72,500
22. 2011-03-30
    historical
23. 2010-07-14
    listed $89,900
24. 2010-07-14
    listed $99,900
25. 2010-07-14
    historical
26. 2010-07-14
    listed $89,900
27. 2010-06-04
    listed $99,900
28. 2010-06-04
    listed $99,900

ⓘ 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: $2,002 · $167/mo
• Projected year-2 tax: $2,002 · $167/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 ≥98°F today · 15 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: $25,045
• − Mortgage interest: −$9,797
• − Property taxes: −$2,002
• − Insurance: −$874
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − HOA: −$3,900
• − Depreciation: −$5,088
• Taxable loss: −$624
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $2,152/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 58,495
• Household income: $94,607
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1651.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Asian 8% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Romanian 3% Iranian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 3% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.08%
• Current HPI: 253.7999
• Rent YoY: ▲ 2.18%
• Metro: Rochester, 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

+75.1% since first listed

18 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-15 Sold (MLS) $157,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-07 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-14 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-02 Sold (MLS) $72,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-02 Sold (MLS) $72,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-14 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-14 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-14 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-04 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-04 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $2,002 · +6.3% YoY. Source: county tax records.