580 36th St SW · Rochester, MN 55902

$109,999

3 bd · 2.0 ba · 1,568 sqft · Other public records · 7 Days on market

Built 1995 1,747 sqft lot $475/mo HOA · 20% of rent

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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 +4.6/5.0
• Schools +4.1/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new beautiful 4 bedroom 2 bathroom. Move in ready new floors and new carpet in all the bedrooms. Updated bathrooms in the last couple of years. Clean modern feel from the moment you walk in. The spacious lay out offers plenty of room for family living, entertaining or working from home. Full bathroom in the master bedroom and walk in closet. The other 3 rooms and bathroom on the other end of the home. Don't miss your chance to make this beautifully updated home your own, schedule your showing today!

Key facts

• New floors
• New carpet
• Full bathroom

Tags

• NEW FLOORS
• NEW CARPET
• UPDATED BATHROOMS
• SPACIOUS LAYOUT
• FULL BATHROOM
• WALK IN CLOSET

Property features AI

Finance

• Financial info: Land is leased (land lease fee $475)
• HOA & community: Willow Ridge community; HOA fee $475 per month (land lease lot fee)

Exterior

• Parking: Concrete parking
• Utilities: City water connected; City sewer connected; Natural gas; Electric with fuses
• Home design: Residential property; Manufactured home; Single-story (one level)
• Construction: Asphalt roof (8 years old or newer); Other construction materials; Foundation area 1,568
• Exterior features: Vinyl exterior; Deck; Storage shed; Public transit within ~6 blocks; Private road frontage

Interior

• Kitchen: Kitchen island; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 4 bedrooms all on one level (all main floor)
• Bathrooms: 2 full bathrooms; Private primary bath with walk-in shower; Main floor full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen/dining room layout; Main floor primary bedroom; Primary bedroom with walk-in closet; Walk-in closet; Door lever handles (accessibility)
• Laundry & utility: Main floor laundry; Washer hookup; Electric dryer hookup; Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 14.5% 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.
• Zoned schools: Bamber Valley Elementary (math 48% / reading 53%, grade D+, #412 of 857 statewide, top 48%, 633 students, 26% FRL); Mayo Senior High (math 42% / reading 65%, grade C-, #104 of 471 statewide, top 22%, 1,862 students, 31% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 387 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $109,999

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.18% ✓
• Cap rate: 14.54%
• Cash-on-cash: 29.45%
• DSCR: 2.31
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 1.88×
• Total profit: $27,147
• Equity at exit: $16,401

10-year hold

• IRR: 28.9%
• Equity multiple: 3.37×
• Total profit: $72,998
• Equity at exit: $9,511

Cash invested: $30,800 (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 55902

• Rents YoY: 1.6%
• Active inventory: 387
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,394 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$38 /mo · $454/yr
• Insurance: −$46
• HOA: −$475
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $756

Break-even live

Break-even rent $1,437

Max offer price $109,999

Occupancy floor 63%

Sensitivity live

Price	-10% $818	-5% $787	+0% $756	+5% $725	+10% $694
Rent	-10% $567	-5% $661	+0% $756	+5% $851	+10% $945
Rate	-1.0pp $811	-0.5pp $784	base $756	+0.5pp $727	+1.0pp $698

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3714 10th Ave SW Rochester, MN	3.0	2.0	1783	$2,250	$1.26	14d	1	0.33mi
3960 Willow Heights Dr SW Rochester, MN	3.0	1.0	1734	$1,700	$0.98	44d	1	0.38mi
350 Boulder Rd SE Rochester, MN	1.0–3.0	1.0–2.5	1181	$2,594	$2.20	14d	1	1.07mi
4850 Maine Ave SE Rochester, MN	3.0	1.0–2.0	1039	$3,284	$3.16	14d	28	1.47mi

HOA detail

• Monthly dues: $475 · $5,700/yr

Listing history 7 events

1. 2026-06-19
   days on market $109,999 Active 7 DOM
2. 2026-06-18
   days on market $109,999 Active 6 DOM
3. 2026-06-17
   days on market $109,999 Active 5 DOM
4. 2026-06-16
   days on market $109,999 Active 4 DOM
5. 2026-06-15
   days on market $109,999 Active 3 DOM
6. 2026-06-13
   remarks 520-char remark
7. 2026-06-13
   listed $109,999 Active 1 DOM

ⓘ 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: $454 · $38/mo
• Projected year-2 tax: $843 · $70/mo
• Expected delta: +$389/yr (+$32/mo · 85.7%)

ⓘ 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 ≥97°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: $28,731
• − Mortgage interest: −$6,162
• − Property taxes: −$454
• − Insurance: −$550
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − HOA: −$5,700
• − Depreciation: −$3,200
• Taxable income: $8,069
• Est. tax owed @ 24.0%: −$1,937
• After-tax cash flow: $7,135/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): 26,464
• Household income: $120,611
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 728.0

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 (75%)
• Race & ethnicity: White 75% Asian 11% Two or more races 7% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Lithuanian 2% Iranian 2%
• Foreign-born: 14% · Canada, China, Jamaica
• Languages at home: 82% English-only · Spanish 4% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -158.29%
• Current HPI: 252.3502
• Rent YoY: ▲ 1.55%
• 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

1 event — show timeline

• 2026-06-12 Listed $109,999 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-1.2%/yr

Latest (2025): $454 · -15.6% YoY. Source: county tax records.