1211 3rd St N · Stillwater, MN 55082

$375,000

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 3 Days on market

Built 1908 0.27 ac lot $322/sqft · 19% above area Est $584k · 36% 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 +11.7/30.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• DSCR +3.4/10.0
• Rent growth +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious hard to find affordable home located on Stillwaters North Hill. Fantastic corner lot on a quiet street with an oversized two car garage. This home offers a functional floor plan with 3 bedrooms, 2 bathrooms, finished lower level family room and additional flex space.

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1908

Property features AI

Exterior

• Parking: Asphalt parking; 2-car garage with automatic door opener (garage approx. 28x24)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One and one-half levels; Above-grade finished area and total living area included; Above and below grade finished living space
• Construction: Block and frame construction; Block foundation; Pitched roof (over 8 years old)
• Exterior features: Vinyl exterior; Deck and porch; Corner lot; City/paved streets with public maintenance

Interior

• Kitchen: Kitchen with center island; Kitchen window; Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (one on the main floor); Bedroom (main): 10x14; Bedroom 2 (upper): 15x9; Bedroom 3 (upper): 12x9
• Flooring: Tile floors
• Bathrooms: Main floor full bathroom; 3/4 bathroom in basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Skylight; Tile floors; Living/Dining room
• Laundry & utility: Washer and dryer (hookup); Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $355k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (21.7% below list).
• Recommended offer: $294k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.4% in Stillwater — 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 85/100 on livability (#19 in MN, #547 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+, amenities F.
• Stillwater Area Public School District (suburban): math 53% / reading 56% proficiency, ranked #54 of 301 in MN (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Stonebridge Elementary (math 52% / reading 57%, grade C, #320 of 857 statewide, top 41%, 421 students, 17% FRL); Stillwater Middle School (math 54% / reading 60%, grade B, #36 of 258 statewide, top 14%, 906 students, 20% FRL); Stillwater Area High School (math 57% / reading 66%, grade B-, #39 of 471 statewide, top 9%, 2,647 students, 20% FRL).
• Market conditions: Rents rising (+3.0%/yr); 191 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,405 units permitted in Washington County in 2024 (121 in 5+ unit buildings).
• This rent runs 31% of the median local income ($115k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $293,547 (21.7% 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. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• GRM: 10.6

CMA / ARV

• ARV (median comp): $583,734
• List price: $375,000
• Delta: -35.76%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Stillwater Ave W	0.19mi	2/1.0 (-1)	1,266 (+9%)	20mo	$400,000	$316	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 · 3.04% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-67,769
• Equity at exit: $55,914

10-year hold

• IRR: -10.7%
• Equity multiple: 0.35×
• Total profit: $-67,848
• Equity at exit: $32,423

Cash invested: $105,000 (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 55082

• Rents YoY: 3.0%
• Active inventory: 191
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,935 medium
• Mortgage (P&I): −$1,967
• Tax from tax record: −$307 /mo · $3,686/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $-111

Break-even live

Break-even rent $3,076

Max offer price $355,403

Occupancy floor 99%

Sensitivity live

Price	-10% $101	-5% $-5	+0% $-111	+5% $-217	+10% $-323
Rent	-10% $-343	-5% $-227	+0% $-111	+5% $5	+10% $121
Rate	-1.0pp $78	-0.5pp $-16	base $-111	+0.5pp $-208	+1.0pp $-307

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1512 1st St N Stillwater, MN	3.0	2.0	1500	$3,600	$2.40	5d	1	0.19mi
119 Pine St E #2 Stillwater, MN	2.0	1.0	1000	$1,500	$1.50	22d	1	1.05mi

Listing history 5 events

1. 2026-05-02
   status Pending 278-char remark
2. 2026-04-29
   listed $375,000 Active 278-char remark
3. 2015-02-20
   soldstatus $200,000
4. 1991-07-01
   soldstatus $83,900
5. 1988-07-01
   soldstatus $76,500

ⓘ 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: $3,686 · $307/mo
• Projected year-2 tax: $3,943 · $329/mo
• Expected delta: +$257/yr (+$21/mo · 7.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,226
• − Mortgage interest: −$21,006
• − Property taxes: −$3,686
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,818
• − Management: −$2,818
• − Depreciation: −$10,909
• Taxable loss: −$7,886
• Est. tax savings @ 24.0%: +$1,893
• After-tax cash flow: $561/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: Stillwater Area Public School District
• NCES district ID: 2738190
• Math proficiency: 53% ▼ -11.00%
• Reading proficiency: 56% ▼ -12.00%
• Median HH income: $84,438
• Composite: 49.8/100
• National rank: #1954
• State rank: #54 of 301 in MN

Livability — Stillwater

• Score: 85/100
• State rank: #19
• US rank: #547

Category grades

Amenities F Commute A+ Cost of living D+ 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: Stillwater, MN
• County: Washington County · 235,613 people
• City population: 36,277
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 36,277
• Household income: $115,040
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 723.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 278,554 people
• By 2030: 290,465 · +4.3%
• By 2040: 310,014 · +11.3%
• By 2050: 324,118 · +16.4%
• By 2075: 362,697 · +30.2%
• By 2100: 381,491 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 4% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 12% Lithuanian 4% Romanian 4%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Lean D (+8.9) · D 53.5% · R 44.6% · Other 1.9%
• 2008→2024 swing: +4.6pp toward D · 2008: 4.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+9.2 2016: D+1.9 2012: D+0.8 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -395.99%
• Current HPI: 241.3998
• Rent YoY: ▲ 3.04%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+403.3% since first listed

6 events — show timeline

• 2026-06-05 Sold (MLS) $385,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Listed $375,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-20 Sold (Public Records) $200,000 Public Records
• 1991-07-01 Sold (Public Records) $83,900 Public Records
• 1988-07-01 Sold (Public Records) $76,500 Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,686 · +3.8% YoY. Source: county tax records.