102 Lewis St E · Lewisville, MN 56060

$89,500

3 bd · 1.0 ba · 881 sqft · SingleFamily public records

Built 1910 10,454 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Appreciation +6.4/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This classic home is located on a corner lot on the main street of Lewisville. A lot of updating has been done including painting, flooring and appliances. Nice front entryway, living room, dining room, kitchen, bedroom, 3/4 bath and laundry on the first floor. Two large bedrooms and 1/2 bath on the second floor. Large yard with a nice two-car garage. Priced for an immediate sale, you will want to take a look at this home!

Key facts

• 0.24 acre lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 65/100 on livability (#550 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: employment C-, schools F, crime D-.
• Truman Public School District (rural): math 30% / reading 55% proficiency, ranked #343 of 467 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 4 units permitted in Watonwan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($619 loan paydown + $3k appreciation (2.9% local appreciation)).
• Watonwan County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,500

Questions for the listing agent

1. Built in 1910 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.89×
• Total profit: $22,252
• Equity at exit: $39,581

10-year hold

• IRR: 17.4%
• Equity multiple: 3.52×
• Total profit: $63,129
• Equity at exit: $60,489

Cash invested: $25,060 (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 56060

• Home prices YoY: 1.0%
• Active inventory: 1
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$128 /mo · $1,538/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $189

Break-even live

Break-even rent $804

Max offer price $89,500

Occupancy floor 77%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-23
   historical
2. 2026-04-22
   listed $89,500

ⓘ 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: $1,538 · $128/mo
• Projected year-2 tax: $1,538 · $128/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 ≥101°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: $12,520
• − Mortgage interest: −$5,013
• − Property taxes: −$1,538
• − Insurance: −$448
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$2,604
• Taxable income: $915
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $2,054/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: Truman Public School District
• NCES district ID: 2740680
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $51,077
• Composite: 38.94/100
• National rank: #8312
• State rank: #343 of 467 in MN

Livability — Lewisville

• Score: 65/100
• State rank: #550
• US rank: #13245

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisville, MN
• Population (ZIP): 446

Population outlook (Watonwan County) Hauer SSP2

• Today (2025): 10,579 people
• By 2030: 10,354 · -2.1%
• By 2040: 9,923 · -6.2%
• By 2050: 9,558 · -9.7%
• By 2075: 9,236 · -12.7%
• By 2100: 8,812 · -16.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 18% Two or more races 18% Asian 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Portuguese 14% Scottish 4% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Watonwan

• 2024 margin: Strong R (+27.8) · D 35.1% · R 62.9% · Other 2.0%
• 2008→2024 swing: -28.5pp toward R · 2008: 0.7pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+21.5 2016: R+19.2 2012: R+0.5 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.87%
• Current HPI: 286.7123
• 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

2 events — show timeline

• 2026-04-23 Delisted — RASM
• 2026-04-22 Listed $89,500 RASM

Property tax history

+9.1%/yr

Latest (2025): $1,538 · +18.9% YoY. Source: county tax records.