903 11th Ave SW · Austin, MN 55912

$122,000

2 bd · 1.0 ba · 857 sqft · SingleFamily public records · 25 Days on market

Built 1939 4,965 sqft lot $142/sqft · 11% below area Est $138k · 11% under

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Why this score? — see what drove the C 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 +19.9/30.0
• ARV discount +12.7/15.0
• DSCR +6.3/10.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home! Newer 100 amp, roof and siding. Hardwood floors and a walk up attic that be finished.

Key facts

• 4,965 sq ft lot
• Garage
• Built 1939

Property features AI

Finance

• Other: Lot approximately 0.114 acres (40 x 125); Total building area 1,714 sq. ft.

Exterior

• Parking: Insulated 1-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; One story; Entry level: main level
• Construction: Block foundation
• Exterior features: Vinyl exterior

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central air
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (3.4% below list).
• Recommended offer: $118k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.5% in Austin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $58k; list at $122k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,804 (3.4% below list)

Questions for the listing agent

1. Built in 1939 — 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. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (median comp): $137,786
• List price: $122,000
• Delta: -11.46%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,113
• Equity at exit: $18,191

10-year hold

• IRR: 11.3%
• Equity multiple: 2.08×
• Total profit: $36,842
• Equity at exit: $10,548

Cash invested: $34,160 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 188
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,178 high
• Mortgage (P&I): −$640
• Tax from tax record: −$92 /mo · $1,100/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $148

Break-even live

Break-even rent $990

Max offer price $122,000

Occupancy floor 82%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	43d	1	0.67mi
800 8th Ave SE Austin, MN	3.0	1.0	842	$1,600	$1.90	43d	1	1.00mi
609 11th St NW Austin, MN	2.0	2.0	925	$1,300	$1.41	43d	1	1.11mi
600 14th St NW Apt 6 Austin, MN	2.0	1.0	700	$995	$1.42	43d	1	1.14mi
711 1st Dr NW Apt A Austin, MN	2.0	1.0	696	$1,100	$1.58	44d	1	1.19mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	43d	96	1.22mi
900 14th St NW Austin, MN	2.0	1.0	518	$1,050	$2.03	43d	18	1.34mi
1105 3rd St NW Austin, MN	1.0	1.0	720	$925	$1.28	43d	2	1.46mi

Listing history 17 events

1. 2026-06-01
   status $122,000 Pending 25 DOM
2. 2026-06-01
   days on market $122,000 Contingent - Inspection 25 DOM
3. 2026-05-31
   days on market $122,000 Contingent - Inspection 24 DOM
4. 2026-05-30
   days on market $122,000 Contingent - Inspection 23 DOM
5. 2026-05-07
   listed $122,000 Active 617-char remark
6. 2026-05-06
   historical
7. 2026-04-23
   price $124,900
8. 2026-04-04
   price $129,900
9. 2026-02-14
   price $139,000
10. 2026-01-28
    price $144,000
11. 2025-12-28
    listed $149,000 Active
12. 2007-05-18
    soldstatus $58,450

    Show marketing remark (105 chars)

    Great starter home! Newer 100 amp, roof and siding. Hardwood floors and a walk up attic that be finished.

13. 2007-05-18
    soldstatus $58,450

    Show marketing remark (105 chars)

    Great starter home! Newer 100 amp, roof and siding. Hardwood floors and a walk up attic that be finished.

14. 2006-01-05
    listed $59,900

    Show marketing remark (105 chars)

    Great starter home! Newer 100 amp, roof and siding. Hardwood floors and a walk up attic that be finished.

15. 2005-05-03
    soldstatus $52,000
16. 2005-04-27
    soldstatus $52,000
17. 2004-12-02
    listed $54,900

ⓘ 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: $1,100 · $92/mo
• Projected year-2 tax: $1,233 · $103/mo
• Expected delta: +$133/yr (+$11/mo · 12.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 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: $14,136
• − Mortgage interest: −$6,834
• − Property taxes: −$1,100
• − Insurance: −$610
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$3,549
• Taxable loss: −$218
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $1,833/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, MN
• 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

+122.2% since first listed

15 events — show timeline

• 2026-06-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Listed $122,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Price Changed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-04 Price Changed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $139,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-28 Price Changed $144,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-28 Listed $149,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-18 Sold (Public Records) $58,450 Public Records
• 2007-05-18 Sold (MLS) $58,450 NORTHSTARMLS as Distributed by MLS Grid
• 2006-01-05 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-05-03 Sold (MLS) $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-27 Sold (Public Records) $52,000 Public Records
• 2004-12-02 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $1,100 · +2.6% YoY. Source: county tax records.