111 W Nebraska Ave Unit PO Box 821 · Gilbert, MN 55741

$54,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily · 232 Days on market

Built 1910 6,970 sqft lot

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is your opportunity to fix and flip, investment property, or even completely gut out the house and make it into your own home. Please be aware and be cautious since the interior of the house has possible mold, beetle infested and the water, electricity, and gas have been turned off. Selling As - Is. No sign on the property

Key facts

• 6,970 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One-story
• Construction: Steel siding
• Exterior features: Asphalt shingle roof; Publicly maintained road access

Interior

• Bedrooms: Master located downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Master bedroom on the main level; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#704 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools D-.
• Market conditions: 26 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $5k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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. 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.
8. 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.
9. 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: 1.94% ✓
• Cap rate: 16.43%
• Cash-on-cash: 36.20%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $136,080
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 New York Ave W	0.04mi	2/1.0 (-1)	1,047 (-3%)	13mo	$95,000	$91	78
112 E Nebraska Ave	0.03mi	3/1.0	950 (-12%)	12mo	$120,000	$126	68
510 Broadway St S	0.16mi	3/2.0	1,232 (+14%)	1mo	$155,000	$126	64
112 Nebraska Ave Ave E	0.13mi	3/1.0	950 (-12%)	12mo	$120,000	$126	63
107 W Louisiana Ave	0.22mi	2/1.0 (-1)	1,176 (+9%)	10mo	$125,000	$106	61
115 E Indiana Ave	0.44mi	2/1.0 (-1)	920 (-15%)	9mo	$40,000	$43	42
117 Boulder Blvd	0.71mi	2/1.5 (-1)	1,232 (+14%)	10mo	$162,000	$131	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.1%
• Equity multiple: 4.87×
• Total profit: $59,448
• Equity at exit: $49,458

10-year hold

• IRR: 45.7%
• Equity multiple: 10.88×
• Total profit: $151,872
• Equity at exit: $106,659

Cash invested: $15,372 (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 55741

• Home prices YoY: 23.4%
• Active inventory: 26
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $464

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 52%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $54,900 Active 232 DOM
2. 2026-06-18
   days on market $54,900 Active 231 DOM
3. 2026-06-17
   days on market $54,900 Active 230 DOM
4. 2026-06-16
   days on market $54,900 Active 229 DOM
5. 2026-06-15
   days on market $54,900 Active 228 DOM
6. 2026-06-14
   days on market $54,900 Active 226 DOM
7. 2026-06-13
   days on market $54,900 Active 225 DOM
8. 2026-06-10
   days on market $54,900 Active 223 DOM
9. 2026-06-09
   days on market $54,900 Active 222 DOM
10. 2026-06-08
    days on market $54,900 Active 221 DOM
11. 2026-06-07
    days on market $54,900 Active 220 DOM
12. 2026-06-05
    days on market $54,900 Active 217 DOM
13. 2026-06-03
    days on market $54,900 Active 216 DOM
14. 2026-06-02
    days on market $54,900 Active 215 DOM
15. 2026-06-01
    days on market $54,900 Active 214 DOM
16. 2026-05-31
    days on market $54,900 Active 213 DOM
17. 2026-05-30
    days on market $54,900 Active 212 DOM
18. 2025-10-30
    listed $54,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,806
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$1,597
• Taxable income: $4,987
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $4,367/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)

No district data.

Livability — Gilbert

• Score: 62/100
• State rank: #704
• US rank: #16952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilbert, MN
• Population (ZIP): 2,933

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 58.57%
• Current HPI: 308.63
• 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

1 event — show timeline

• 2025-10-30 Listed $54,900 LSAR