359 Hill St E · Hammond, MN 55991

$100,000

3 bd · 1.0 ba · 728 sqft · SingleFamily public records · 7 Days on market

Built 1890 10,759 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 +26.1/30.0
• DSCR +8.8/10.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

For Sale: 3-Bedroom Fixer-Upper Home in Scenic Hammond, MN - Zumbro River Recreation Opportunity Own a piece of peaceful small-town Minnesota with this 3-bedroom, 1-bathroom fixer-upper in the heart of Hammond (Wabasha County). This classic single-family home offers approximately 1580 sq ft of living space on a nice-sized lot and is being sold "as-is" - a fantastic project for the handy buyer, investor, or anyone ready to add their personal touch and build equity. The functional main-floor layout includes a kitchen with oak cabinetry, comfortable living and dining areas, multiple bedrooms, a full bathroom, and convenient main-floor laundry. The basement provides additional storage

Key facts

• 0.25 acre lot
• Garage
• Built 1890

Property features AI

Finance

• Other: Lot roughly 0.247 acres (approx. 100x106)

Exterior

• Parking: Gravel parking; Detached garage approximately 12x20
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; One and one-half levels; Main floor primary bedroom; Pitched roof
• Construction: Block foundation; Foundation area or below-grade area present; Asphalt and metal roof, age 8 years or less
• Exterior features: Vinyl exterior; City street frontage; Publicly maintained road; Garage(s) and additional outbuilding(s)

Interior

• Kitchen: Kitchen with window; Microwave; Range; Refrigerator
• Bedrooms: 3 bedrooms total; Main-level bedroom (11x9); Upper-level bedroom (14x23); Upper-level bedroom (17x14)
• Bathrooms: 1 full bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor full bath; Microwave; Range; Refrigerator; Gas water heater; Rented fuel tank
• Laundry & utility: Main-level laundry; Propane fuel (home uses propane)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 63/100 on livability (#632 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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: Century Senior High (math 37% / reading 67%, grade D+, #111 of 471 statewide, top 26%, 1,698 students, 31% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: 11 active listings in the ZIP; 81 units permitted in Wabasha County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($691 loan paydown + $8k appreciation (7.6% local appreciation)).
• Wabasha County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1890 — 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. 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: 1.16% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.96×
• Total profit: $54,939
• Equity at exit: $73,498

10-year hold

• IRR: 25.0%
• Equity multiple: 6.27×
• Total profit: $147,430
• Equity at exit: $143,592

Cash invested: $28,000 (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 55991

• Home prices YoY: 3.2%
• Active inventory: 11
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $252

Break-even live

Break-even rent $840

Max offer price $100,000

Occupancy floor 73%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-17
   status Pending 2632-char remark
2. 2026-05-11
   listed $100,000 Active 2632-char remark
3. 2026-05-06
   historical $100,000 2632-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: $1,172 · $98/mo
• Projected year-2 tax: $1,172 · $98/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $13,915
• − Mortgage interest: −$5,602
• − Property taxes: −$1,172
• − Insurance: −$500
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$2,909
• Taxable income: $1,506
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $2,666/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 — Hammond

• Score: 63/100
• State rank: #632
• US rank: #15141

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, MN
• Population (ZIP): 1,474

Population outlook (Wabasha County) Hauer SSP2

• Today (2025): 20,444 people
• By 2030: 19,836 · -3.0%
• By 2040: 18,478 · -9.6%
• By 2050: 17,132 · -16.2%
• By 2075: 15,035 · -26.5%
• By 2100: 13,581 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 11% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Wabasha

• 2024 margin: Strong R (+28.2) · D 35.0% · R 63.2% · Other 1.8%
• 2008→2024 swing: -25.8pp toward R · 2008: -2.4pp · 2024: -28.2pp
• All cycles: 2024: R+28.2 2020: R+26.4 2016: R+26.6 2012: R+5.4 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.63%
• Current HPI: 248.8552
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Listed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $100,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2025): $1,172 · +38.9% YoY. Source: county tax records.