803 E Grove St · Caledonia, MN 55921

$50,000

3 bd · 1.5 ba · 1,648 sqft · SingleFamily public records · 22 Days on market

Built 1910

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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
• Schools +4.7/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious property with a large lot offering endless potential for the right buyer or investor. This structurally sound home is priced at $60,000 and is ready for updates and remodeling. The house will need improvements including new siding, roof, and windows, making it a great opportunity to customize and add value. Plenty of outdoor space for gardening, expansion, parking, or recreational use. Ideal for investors, flippers, or buyers looking to create their dream home at an affordable price.

Key facts

• New siding
• Large lot
• Outdoor space

Tags

• LARGE LOT
• OUTDOOR SPACE
• NEW SIDING
• NEW ROOF
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 82/100 on livability (#45 in MN, #1,226 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F.
• Caledonia Public School District (rural): math 49% / reading 61% proficiency, ranked #69 of 301 in MN (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 48 units permitted in Houston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Houston County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $50k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.05% ✓
• Cap rate: 15.20%
• Cash-on-cash: 31.80%
• DSCR: 2.41
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.8%
• Equity multiple: 2.11×
• Total profit: $15,601
• Equity at exit: $7,455

10-year hold

• IRR: 34.5%
• Equity multiple: 4.17×
• Total profit: $44,310
• Equity at exit: $4,323

Cash invested: $14,000 (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 55921

• Home prices YoY: -32.8%
• Active inventory: 23
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $371

Break-even live

Break-even rent $556

Max offer price $50,000

Occupancy floor 59%

Sensitivity live

Price	-10% $399	-5% $385	+0% $371	+5% $357	+10% $343
Rent	-10% $290	-5% $330	+0% $371	+5% $412	+10% $452
Rate	-1.0pp $396	-0.5pp $384	base $371	+0.5pp $358	+1.0pp $345

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $50,000 Active 22 DOM
2. 2026-06-18
   days on market $50,000 Active 20 DOM
3. 2026-06-17
   days on market $50,000 Active 19 DOM
4. 2026-06-17
   price $50,000 Active 18 DOM
5. 2026-06-16
   days on market $60,000 Active 18 DOM
6. 2026-06-15
   days on market $60,000 Active 17 DOM
7. 2026-06-13
   days on market $60,000 Active 15 DOM
8. 2026-06-12
   days on market $60,000 Active 14 DOM
9. 2026-06-09
   days on market $60,000 Active 11 DOM
10. 2026-06-08
    days on market $60,000 Active 10 DOM
11. 2026-06-07
    days on market $60,000 Active 9 DOM
12. 2026-06-07
    days on market $60,000 Active 8 DOM
13. 2026-06-04
    days on market $60,000 Active 5 DOM
14. 2026-06-02
    days on market $60,000 Active 4 DOM
15. 2026-06-01
    days on market $60,000 Active 3 DOM
16. 2026-05-31
    days on market $60,000 Active 2 DOM
17. 2026-05-30
    listed $60,000 Active
18. 1992-05-20
    soldstatus $30,500

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $1,876 · $156/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,310
• − Mortgage interest: −$2,801
• − Property taxes: −$1,876
• − Insurance: −$250
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$1,455
• Taxable income: $3,959
• Est. tax owed @ 24.0%: −$950
• After-tax cash flow: $3,502/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: Caledonia Public School District
• NCES district ID: 2707380
• Math proficiency: 49% ▼ -9.00%
• Reading proficiency: 61% ▬ 0.00%
• Median HH income: $49,810
• Composite: 46.87/100
• National rank: #2369
• State rank: #69 of 301 in MN

Livability — Caledonia

• Score: 82/100
• State rank: #45
• US rank: #1226

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caledonia, MN
• Population (ZIP): 4,793

Population outlook (Houston County) Hauer SSP2

• Today (2025): 18,304 people
• By 2030: 17,878 · -2.3%
• By 2040: 16,673 · -8.9%
• By 2050: 15,378 · -16.0%
• By 2075: 13,146 · -28.2%
• By 2100: 11,117 · -39.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 21% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Houston

• 2024 margin: R (+16.5) · D 41.0% · R 57.5% · Other 1.6%
• 2008→2024 swing: -27.2pp toward R · 2008: 10.7pp · 2024: -16.5pp
• All cycles: 2024: R+16.5 2020: R+12.9 2016: R+14.0 2012: D+3.2 2008: D+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.28%
• Current HPI: 207.1254
• 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

+96.7% since first listed

2 events — show timeline

• 2026-05-30 Listed $60,000 FSBO.com
• 1992-05-20 Sold (Public Records) $30,500 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,876 · +35.5% YoY. Source: county tax records.