1102 Olivia St SE · New Prague, MN 56071

$394,900

3 bd · 2.0 ba · 1,319 sqft · Other · 64 Days on market

Built 2026 0.35 ac lot $299/sqft · 28% below area Est $551k · 28% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.4/30.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Grant! This split entry model has a large open floor plan on the main level with plenty of natural light. This level has the kitchen, dining area and large living room just a few steps up from the front and garage entry landing with a nice closet. Heading up the steps from the kitchen is a bathroom and 3 bedrooms including the primary suite with a private 3/4 bathroom. Make your preferred selections for your new home at our design center! We are happy to provide info on other lots and models available!

Key facts

• 0.35 acre lot
• 3 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $395k.

Deal economics

• At list price, monthly cash flow is $-511 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (41.8% below list).
• Recommended offer: $230k (41.8% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.8% in New Prague — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#86 in MN, #1,971 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• New Prague Area Schools (town): math 57% / reading 60% proficiency, ranked #36 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 60 units permitted in Le Sueur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Le Sueur County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y 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 $270k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $230,000 (41.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.58% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.55%
• DSCR: 0.75
• GRM: 14.3

CMA / ARV

• ARV (median comp): $550,983
• List price: $394,900
• Delta: -28.33%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.9%
• Equity multiple: 0.12×
• Total profit: $-96,755
• Equity at exit: $58,881

10-year hold

• IRR: -22.7%
• Equity multiple: -0.15×
• Total profit: $-127,029
• Equity at exit: $34,144

Cash invested: $110,572 (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 56071

• Home prices YoY: -26.3%
• Active inventory: 92
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$93 /mo · $1,112/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-511

Break-even live

Break-even rent $2,947

Max offer price $304,611

Occupancy floor —

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: $98,725
• Closing costs: $11,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Chalupsky Ave SE New Prague, MN	2.0	1.0–2.0	839	$2,300	$2.74	1d	1	0.92mi

Listing history 42 events

1. 2026-06-18
   days on market $394,900 Active 64 DOM
2. 2026-06-17
   days on market $394,900 Active 63 DOM
3. 2026-06-16
   days on market $394,900 Active 62 DOM
4. 2026-06-15
   days on market $394,900 Active 61 DOM
5. 2026-06-13
   days on market $394,900 Active 59 DOM
6. 2026-06-13
   days on market $394,900 Active 58 DOM
7. 2026-06-09
   days on market $394,900 Active 55 DOM
8. 2026-06-08
   days on market $394,900 Active 54 DOM
9. 2026-06-07
   days on market $394,900 Active 53 DOM
10. 2026-06-04
    days on market $394,900 Active 50 DOM
11. 2026-06-03
    days on market $394,900 Active 49 DOM
12. 2026-06-02
    days on market $394,900 Active 48 DOM
13. 2026-06-01
    days on market $394,900 Active 47 DOM
14. 2026-05-31
    days on market $394,900 Active 46 DOM
15. 2026-05-01
    status Active 522-char remark

    Show marketing remark (522 chars)

    Welcome to the Grant! This split entry model has a large open floor plan on the main level with plenty of natural light. This level has the kitchen, dining area and large living room just a few steps up from the front and garage entry landing with a nice closet. Heading up the steps from the kitchen is a bathroom and 3 bedrooms including the primary suite with a private 3/4 bathroom. Make your preferred selections for your new home at our design center! We are happy to provide info on other lots and models available!

16. 2026-04-30
    historical 522-char remark

    Show marketing remark (522 chars)

    Welcome to the Grant! This split entry model has a large open floor plan on the main level with plenty of natural light. This level has the kitchen, dining area and large living room just a few steps up from the front and garage entry landing with a nice closet. Heading up the steps from the kitchen is a bathroom and 3 bedrooms including the primary suite with a private 3/4 bathroom. Make your preferred selections for your new home at our design center! We are happy to provide info on other lots and models available!

17. 2026-04-10
    listed $394,900 Active 522-char remark

    Show marketing remark (522 chars)

    Welcome to the Grant! This split entry model has a large open floor plan on the main level with plenty of natural light. This level has the kitchen, dining area and large living room just a few steps up from the front and garage entry landing with a nice closet. Heading up the steps from the kitchen is a bathroom and 3 bedrooms including the primary suite with a private 3/4 bathroom. Make your preferred selections for your new home at our design center! We are happy to provide info on other lots and models available!

18. 2026-04-09
    soldstatus $269,700
19. 2021-01-31
    status Pending
20. 2021-01-27
    status Pending
21. 2021-01-26
    status Pending
22. 2020-12-23
    status Pending
23. 2020-12-23
    historical
24. 2020-12-07
    price $65,900
25. 2020-07-21
    price $62,900
26. 2018-12-11
    listed $59,900 Active
27. 2013-04-08
    historical
28. 2013-03-29
    listed $235,190
29. 2013-03-04
    historical
30. 2012-12-07
    listed $215,800
31. 2012-11-25
    historical
32. 2012-08-25
    listed $215,800
33. 2010-09-16
    historical
34. 2010-09-14
    listed $39,900
35. 2010-06-11
    historical
36. 2010-03-08
    listed $53,900
37. 2010-03-05
    historical
38. 2009-03-18
    listed $64,900
39. 2009-03-11
    historical
40. 2008-03-11
    listed $74,900
41. 2007-12-01
    historical
42. 2006-12-01
    listed $74,900

ⓘ 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: $1,112 · $93/mo
• Projected year-2 tax: $2,767 · $231/mo
• Expected delta: +$1,655/yr (+$138/mo · 148.9%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,600
• − Mortgage interest: −$22,121
• − Property taxes: −$1,112
• − Insurance: −$1,974
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − Depreciation: −$11,488
• Taxable loss: −$13,511
• Est. tax savings @ 24.0%: +$3,243
• After-tax cash flow: $-2,891/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: New Prague Area Schools
• NCES district ID: 2723430
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $80,742
• Composite: 52.77/100
• National rank: #1543
• State rank: #36 of 301 in MN

Livability — New Prague

• Score: 80/100
• State rank: #86
• US rank: #1971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Prague, MN
• City population: 13,015
• Population (ZIP): 13,015

Population outlook (Le Sueur County) Hauer SSP2

• Today (2025): 27,622 people
• By 2030: 27,346 · -1.0%
• By 2040: 26,451 · -4.2%
• By 2050: 25,299 · -8.4%
• By 2075: 23,188 · -16.1%
• By 2100: 21,103 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 10% Romanian 3% Scottish 2%
• Foreign-born: 2%
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Le Sueur

• 2024 margin: Solid R (+33.7) · D 32.4% · R 66.0% · Other 1.6%
• 2008→2024 swing: -29.4pp toward R · 2008: -4.3pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+30.3 2016: R+30.7 2012: R+6.5 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.45%
• Current HPI: 275.353
• 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

+427.2% since first listed

28 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $394,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Sold (Public Records) $269,700 Public Records
• 2021-01-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2020-12-07 Price Changed $65,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-21 Price Changed $62,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-11 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-03-29 Listed $235,190 NORTHSTARMLS as Distributed by MLS Grid
• 2013-03-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-07 Listed $215,800 NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-25 Listed $215,800 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-14 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-08 Listed $53,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-18 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-11 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-01 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $1,112 · +14.6% YoY. Source: county tax records.