509 17th St S · Benson, MN 56215

$169,900

3 bd · 2.0 ba · 1,694 sqft · SingleFamily · 4 Days on market

Built 1948 6,969 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Heated and Insulated Garage. Fenced Yard, Partially Finished BAsement, Newer Windows and More!!

Key facts

• Huge walk-in closet
• Heated garage
• 6,969 sq ft lot

Tags

• HEATED GARAGE
• FULLY FENCED BACKYARD
• OVERSIZED MASTER BEDROOM
• HUGE WALK-IN CLOSET

Property features AI

Finance

• Other: Above-grade finished area and main-level finished area reported; total living area documented

Exterior

• Parking: Heated, insulated concrete garage with 2 parking spaces
• Utilities: City water connected; City sewer connected; Natural gas fuel; 100 amp electrical service with circuit breakers
• Home design: Residential property; One-and-one-half story layout; Block foundation
• Construction: Asphalt roof; Block foundation
• Exterior features: Lot approximately 0.16 acre (50 x 140); Directions available

Interior

• Kitchen: Kitchen/dining room
• Bedrooms: 3 bedrooms (includes a main floor bedroom; other bedrooms on main and upper levels)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement with block construction

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $70 ($838/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 $147k (13.5% below list).
• Recommended offer: $147k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#189 in MN, #4,068 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Benson Public School District (town): math 37% / reading 41% proficiency, ranked #228 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northside Elementary (math 52% / reading 52%, grade C-, #368 of 857 statewide, top 47%, 406 students, 54% FRL); Benson Secondary (math 30% / reading 35%, grade F, #332 of 471 statewide, top 70%, 353 students, 45% FRL) — zoned schools average 50% FRL vs 25% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 15 units permitted in Swift 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.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $92k; list at $170k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,908 (13.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 0.86% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-23,114
• Equity at exit: $25,333

10-year hold

• IRR: -4.6%
• Equity multiple: 0.69×
• Total profit: $-14,520
• Equity at exit: $14,690

Cash invested: $47,572 (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 56215

• Home prices YoY: -18.0%
• Active inventory: 32
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,469 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $70

Break-even live

Break-even rent $1,381

Max offer price $169,900

Occupancy floor 90%

Sensitivity live

Price	-10% $166	-5% $118	+0% $70	+5% $22	+10% $-26
Rent	-10% $-46	-5% $12	+0% $70	+5% $128	+10% $186
Rate	-1.0pp $155	-0.5pp $113	base $70	+0.5pp $26	+1.0pp $-19

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-20
   listed $169,900 Active
2. 2020-08-03
   soldstatus $92,500
3. 2020-07-31
   soldstatus $92,500 Sold 177-char remark

   Show marketing remark (177 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Heated and Insulated Garage. Fenced Yard, Partially Finished BAsement, Newer Windows and More!!

4. 2020-06-06
   status Pending 177-char remark

   Show marketing remark (177 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Heated and Insulated Garage. Fenced Yard, Partially Finished BAsement, Newer Windows and More!!

5. 2020-06-02
   listed $90,000 Active 177-char remark

   Show marketing remark (177 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Heated and Insulated Garage. Fenced Yard, Partially Finished BAsement, Newer Windows and More!!

6. 2019-02-02
   historical 159-char remark

   Show marketing remark (159 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Garage, Fenced Yard. Partially Finished Basement, Newer Windows and Much More.

7. 2015-09-02
   soldstatus $75,000 159-char remark

   Show marketing remark (159 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Garage, Fenced Yard. Partially Finished Basement, Newer Windows and Much More.

8. 2015-02-23
   listed $74,900 159-char remark

   Show marketing remark (159 chars)

   Recently Updated 3 BR with New Kitchen and Bath on Main Floor. Good Size 24 x 28 Garage, Fenced Yard. Partially Finished Basement, Newer Windows and Much More.

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,725 · $144/mo
• Expected delta: +$177/yr (+$15/mo · 11.5%)

ⓘ 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 ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,629
• − Mortgage interest: −$9,517
• − Property taxes: −$1,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$4,943
• Taxable loss: −$2,049
• Est. tax savings @ 24.0%: +$492
• After-tax cash flow: $1,329/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: Benson Public School District
• NCES district ID: 2704470
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 41% ▼ -9.00%
• Median HH income: $49,024
• Composite: 33.56/100
• National rank: #5423
• State rank: #228 of 301 in MN

Livability — Benson

• Score: 75/100
• State rank: #189
• US rank: #4068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benson, MN
• Population (ZIP): 4,701

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 28% Italian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.08%
• Current HPI: 214.9157
• 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

+126.8% since first listed

8 events — show timeline

• 2026-05-20 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-03 Sold (Public Records) $92,500 Public Records
• 2020-07-31 Sold (MLS) $92,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-02 Listed $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-02 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-02-23 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2025): $1,548 · -1.1% YoY. Source: county tax records.