24569 County 18 · Nevis, MN 56467

$135,000

5 bd · 1.0 ba · 2,524 sqft · SingleFamily public records · 25 Days on market

Built 1912 2.24 ac lot $53/sqft · 34% below area Est $225k · 40% under ↓ 21% since listing

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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 +24.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +5.2/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This is the one you’ve been waiting for! Come and see this huge 2-Story home on a large corner lot, close to everything around. The home features 5+ bedrooms (4 on the upper level), open floor plan and with several large entertaining spaces, unfinished basement for future expansion, workshop, or for storage. Recent updates include maintenance free exterior (vinyl siding, aluminum soffit and fascia), newer electrical panel, and some windows have been replaced. Home needs some TLC but has so much potential - upper level ceiling was damaged from previous roof leak (roof was fixed), will need some drywall repair. The beautiful lot features TOWERING pines, several outbuildings including l

Key facts

• Open floor plan
• Large corner lot
• Unfinished basement

Tags

• 2 STORY HOME
• LARGE CORNER LOT
• OPEN FLOOR PLAN
• UNFINISHED BASEMENT
• MAINTENANCE FREE EXTERIOR
• NEWER ELECTRICAL PANEL

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#377 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: crime C-, health & safety C-, employment D+.
• Nevis Public School District (rural): math 50% / reading 62% proficiency, ranked #66 of 301 in MN (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 56 active listings in the ZIP; 27 units permitted in Hubbard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Hubbard County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1912 — 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 B-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: 1.02% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (median comp): $224,688
• List price: $135,000
• Delta: -33.29%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 3.39×
• Total profit: $90,239
• Equity at exit: $121,619

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $252,468
• Equity at exit: $262,275

Cash invested: $37,800 (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 56467

• Home prices YoY: 10.1%
• Active inventory: 56
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$61 /mo · $728/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $263

Break-even live

Break-even rent $1,044

Max offer price $135,000

Occupancy floor 76%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-15
   statusdays on market $135,000 Pending 25 DOM
2. 2026-06-13
   days on market $135,000 Active 24 DOM
3. 2026-06-12
   days on market $135,000 Active 23 DOM
4. 2026-06-09
   days on market $135,000 Active 20 DOM
5. 2026-06-08
   days on market $135,000 Active 19 DOM
6. 2026-06-07
   days on market $135,000 Active 18 DOM
7. 2026-06-05
   days on market $135,000 Active 16 DOM
8. 2026-06-04
   days on market $135,000 Active 14 DOM
9. 2026-06-02
   days on market $135,000 Active 13 DOM
10. 2026-06-01
    days on market $135,000 Active 12 DOM
11. 2026-05-31
    days on market $135,000 Active 11 DOM
12. 2026-05-31
    days on market $135,000 Active 10 DOM
13. 2026-05-13
    historical
14. 2026-03-04
    listed $149,900 Active
15. 2026-03-01
    historical
16. 2026-02-03
    price $164,900
17. 2026-01-20
    price $174,900
18. 2026-01-12
    price $179,900
19. 2026-01-06
    listed $189,900 Active

ⓘ 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: $728 · $61/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$392/yr (+$33/mo · 53.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,527
• − Mortgage interest: −$7,562
• − Property taxes: −$728
• − Insurance: −$675
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$3,927
• Taxable income: $990
• Est. tax owed @ 24.0%: −$238
• After-tax cash flow: $2,920/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: Nevis Public School District
• NCES district ID: 2723370
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $47,293
• Composite: 47.46/100
• National rank: #2281
• State rank: #66 of 301 in MN

Livability — Nevis

• Score: 69/100
• State rank: #377
• US rank: #8830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,750

Population outlook (Hubbard County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 20,275 · -1.2%
• By 2040: 19,429 · -5.3%
• By 2050: 18,093 · -11.8%
• By 2075: 14,903 · -27.3%
• By 2100: 10,994 · -46.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Native American 2%
• Common ancestry: Portuguese 14% Scottish 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Arabic 1% Spanish 0%

Political lean MEDSL · Hubbard

• 2024 margin: Solid R (+31.5) · D 33.4% · R 64.9% · Other 1.7%
• 2008→2024 swing: -17.0pp toward R · 2008: -14.5pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+28.8 2016: R+33.6 2012: R+16.9 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.93%
• Current HPI: 293.3438
• 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

-21.1% since first listed

7 events — show timeline

• 2026-05-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-04 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-03 Price Changed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-20 Price Changed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-06 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2025): $728 · -44.9% YoY. Source: county tax records.