711 3rd St NW · Faribault, MN 55021

$165,000

2 bd · 1.5 ba · 1,639 sqft · SingleFamily public records · 23 Days on market

Built 1900 0.25 ac lot Est $166k · at est.

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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).

• Cash flow +17.7/30.0
• ARV discount +7.6/15.0
• DSCR +5.5/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential of this charming 3-bedroom, 2-bathroom home ideally situated in a sought-after neighborhood. Enjoy hardwood floors, natural woodwork, built-ins, and three spacious bedrooms conveniently located on one level. The home also offers a versatile bonus room, an updated bathroom, a formal dining room perfect for gatherings, and a newer furnace for year-round comfort. Step outside to a large yard, a welcoming front porch, and a newer roof for peace of mind. The prime location puts you close to major highways, schools, parks, and everyday amenities. While the home could benefit from some TLC, it offers a wonderful opportunity to add your personal touch and truly make it shine.

Key facts

• Natural woodwork
• Formal dining room
• Versatile bonus room

Tags

• HARDWOOD FLOORS
• NATURAL WOODWORK
• BUILT-INS
• VERSATILE BONUS ROOM
• UPDATED BATHROOM
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Above-grade finished living area: 1,632; Below-grade area: 816; Total building area: 2,448; Main level finished area: 816; Lot approximately 0.25 acres (66 x 165)
• HOA & community: $40 other annual assessment

Exterior

• Parking: 1-car garage
• Utilities: City water; City sewer; Natural gas; Circuit breaker electrical
• Home design: Residential property; Two levels; Walk-up attic
• Construction: Stone construction; Stone foundation
• Exterior features: Porch; Metal exterior; Light tree coverage; City street frontage

Interior

• Kitchen: Kitchen with window; Range; Refrigerator; Freezer; Dishwasher
• Bedrooms: 3 bedrooms (two on the upper level)
• Flooring: Hardwood floors
• Bathrooms: 1 full bath (upper level); 1 half bath (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; Natural woodwork; Porch; Walk-up attic; Full, unfinished basement
• Laundry & utility: Washer and dryer (hookup); Water softener (rented)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $134 ($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 $158k (4.4% below list).
• Recommended offer: $158k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.1% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 165 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 89% of comp listings sitting > 30 days — soft ceiling on asking rent; 93 units permitted in Rice County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $116k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,726 (4.4% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 0.96% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $165,539
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 4th Ave NW	0.27mi	3/2.0 (+1)	1,728 (+5%)	21mo	$175,000	$101	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-18,206
• Equity at exit: $24,602

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,850
• Equity at exit: $14,266

Cash invested: $46,200 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 165
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,577 high
• Mortgage (P&I): −$865
• Tax from tax record: −$178 /mo · $2,138/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $134

Break-even live

Break-even rent $1,408

Max offer price $165,000

Occupancy floor 87%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
429 8th Ave NW Unit FA-104 Faribault, MN	2.0	2.0	1070	$1,500	$1.40	44d	1	0.17mi
429 8th Ave NW Unit FA-404 Faribault, MN	2.0	2.0	1070	$1,675	$1.57	44d	1	0.17mi
429 8th Ave NW Unit FA-304 Faribault, MN	2.0	2.0	1070	$1,625	$1.52	44d	1	0.17mi
417 1st Ave NW Unit 1 Faribault, MN	2.0	1.5	1500	$1,450	$0.97	44d	1	0.54mi
417 1st Ave NW Unit 2 Faribault, MN	3.0	1.0	1500	$1,575	$1.05	44d	1	0.54mi
31 3rd St NE Unit R31-301 Faribault, MN	2.0	1.0	1400	$1,900	$1.36	44d	1	0.64mi
728 Willow St Faribault, MN	3.0	1.0	1200	$1,995	$1.66	44d	1	0.79mi
1125 Central Ave N Apt 3 Faribault, MN	2.0	1.0	1200	$1,350	$1.12	44d	1	0.94mi
2275 4th St NW Faribault, MN	2.0–3.0	2.0	1113	$1,165	$1.05	5d	8	1.17mi

Listing history 9 events

1. 2026-05-21
   historical Contingent - Inspection
2. 2026-05-19
   status Active
3. 2026-04-16
   status Pending
4. 2026-04-09
   historical Contingent - Inspection
5. 2026-03-31
   listed $165,000 Active
6. 2000-09-22
   soldstatus $116,000
7. 2000-09-22
   soldstatus $116,000
8. 2000-08-14
   historical
9. 2000-08-07
   listed $114,900

ⓘ 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: $2,138 · $178/mo
• Projected year-2 tax: $2,138 · $178/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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,927
• − Mortgage interest: −$9,243
• − Property taxes: −$2,138
• − Insurance: −$825
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$4,800
• Taxable loss: −$1,107
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $1,872/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

Amenities C+ 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: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, 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

+43.6% since first listed

9 events — show timeline

• 2026-05-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-22 Sold (Public Records) $116,000 Public Records
• 2000-09-22 Sold (MLS) $116,000 NORTHSTARMLS as Distributed by MLS Grid
• 2000-08-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2000-08-07 Listed $114,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $2,138 · +3.8% YoY. Source: county tax records.