205 N Lindberg Ave · Dunnell, MN 56127

$130,000

3 bd · 2.0 ba · 3,273 sqft · SingleFamily public records · 82 Days on market

Built 1916 0.45 ac lot

---

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 +24.1/30.0
• Appreciation +9.5/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

You'll love this beautiful spacious 3273 square foot Victorian Home. The home boasts 3 good sized bedrooms with two additional rooms that could be used for bedrooms (no closets), and a full bath on the second floor. The main floor has a front foyer with gorgeous oak trim and staircase, a parlor, living room, study, formal dining room, spacious kitchen, a half bath, and laundry room/pantry. The basement has three large rooms good for lots of storage. There is an attached oversized two car garage. The front porch wraps around one corner of the house and was replaced in 2025. There is a smaller back porch also replaced in 2025. Central air was replaced in 2025. There is a storage shed on the property. The house sits on two city lots in a quiet neighborhood.

Key facts

• Oak trim
• Wrap around porch
• Victorian home

Tags

• VICTORIAN HOME
• FRONT FOYER
• OAK TRIM
• WRAP AROUND PORCH
• BACK PORCH
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#849 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D+, schools F, crime D-.
• Martin County West School District (rural): math 38% / reading 50% proficiency, ranked #187 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($899 loan paydown + $12k appreciation (9.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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 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?
6. 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?
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: 1.14% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.5%
• Equity multiple: 3.15×
• Total profit: $78,187
• Equity at exit: $107,509

10-year hold

• IRR: 25.1%
• Equity multiple: 6.92×
• Total profit: $215,604
• Equity at exit: $222,331

Cash invested: $36,400 (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 56127

• Home prices YoY: 4.9%
• Active inventory: 3
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $257

Break-even live

Break-even rent $1,158

Max offer price $130,000

Occupancy floor 78%

Sensitivity live

Price	-10% $331	-5% $294	+0% $257	+5% $220	+10% $184
Rent	-10% $140	-5% $199	+0% $257	+5% $316	+10% $374
Rate	-1.0pp $323	-0.5pp $290	base $257	+0.5pp $224	+1.0pp $189

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-04
   days on market $130,000 Active 82 DOM
2. 2026-06-02
   days on market $130,000 Active 81 DOM
3. 2026-06-01
   days on market $130,000 Active 80 DOM
4. 2026-05-31
   days on market $130,000 Active 79 DOM
5. 2026-05-31
   days on market $130,000 Active 78 DOM
6. 2026-03-13
   listed $130,000 Active 764-char remark

   Show marketing remark (764 chars)

   You'll love this beautiful spacious 3273 square foot Victorian Home. The home boasts 3 good sized bedrooms with two additional rooms that could be used for bedrooms (no closets), and a full bath on the second floor. The main floor has a front foyer with gorgeous oak trim and staircase, a parlor, living room, study, formal dining room, spacious kitchen, a half bath, and laundry room/pantry. The basement has three large rooms good for lots of storage. There is an attached oversized two car garage. The front porch wraps around one corner of the house and was replaced in 2025. There is a smaller back porch also replaced in 2025. Central air was replaced in 2025. There is a storage shed on the property. The house sits on two city lots in a quiet neighborhood.

7. 2011-03-14
   soldstatus $69,900
8. 2008-05-02
   soldstatus $69,900
9. 2007-04-27
   soldstatus $57,600

ⓘ 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: $2,148 · $179/mo
• Projected year-2 tax: $2,148 · $179/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 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: $17,804
• − Mortgage interest: −$7,282
• − Property taxes: −$2,148
• − Insurance: −$650
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$3,782
• Taxable income: $1,094
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $2,824/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: Martin County West School District
• NCES district ID: 2718960
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 50% ▼ -8.00%
• Median HH income: $48,825
• Composite: 37.66/100
• National rank: #4369
• State rank: #187 of 301 in MN

Livability — Dunnell

• Score: 56/100
• State rank: #849
• US rank: #22999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dunnell, MN
• Population (ZIP): 478

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 9%
• Common ancestry: Portuguese 6% Iranian 1% Scottish 1%
• Foreign-born: 9% · Canada
• Languages at home: 86% English-only · German/W. Germanic 14%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.97%
• Current HPI: 192.8128
• 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

+125.7% since first listed

4 events — show timeline

• 2026-03-13 Listed $130,000 ForSaleByOwner.com
• 2011-03-14 Sold (Public Records) $69,900 Public Records
• 2008-05-02 Sold (Public Records) $69,900 Public Records
• 2007-04-27 Sold (Public Records) $57,600 Public Records

Property tax history

+2.5%/yr

Latest (2025): $2,148 · +1.2% YoY. Source: county tax records.