113 Angel Ave SW · Watertown, MN 55388

$309,900

4 bd · 2.0 ba · 1,843 sqft · SingleFamily public records · 27 Days on market

Built 1975

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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 +17.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 1910 three-story brick home on a large corner lot that is a well-maintained historical property featuring original woodwork and hardwood floors that exemplify the era & acirc; & euro; & trade; s superior craftmanship and solid construction. The residence includes four-bedroom, large kitchen, a three-season porch, a full-size attic, and basement, offering additional inside storage space. Modern upgrades have been seamlessly integrated, including recent roof replacement in 2024, new electric and plumbing system to meet current building codes, along with a recently installed boiler with radiators for efficient heating. A newly remodeled main bathroom complements the home hist

Key facts

• Large corner lot
• Three season porch
• Full size attic

Tags

• THREE STORY BRICK HOME
• LARGE CORNER LOT
• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• THREE SEASON PORCH
• FULL SIZE ATTIC

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/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 $290k (6.6% below list).
• Recommended offer: $290k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 3.5% in Watertown — 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 73/100 on livability (#251 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Watertown-Mayer Public School District (rural): math 43% / reading 54% proficiency, ranked #106 of 301 in MN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Watertown-Mayer Elementary School (math 57% / reading 47%, grade C-, #368 of 857 statewide, top 47%, 528 students, 36% FRL); Watertown-Mayer Middle (math 36% / reading 54%, grade D, #113 of 258 statewide, top 45%, 460 students, 27% FRL); Watertown Mayer High (math 52% / reading 62%, grade C, #64 of 471 statewide, top 16%, 488 students, 28% FRL) — zoned schools average 31% FRL vs 14% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 56 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 682 units permitted in Carver County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Carver County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.

Recommended offer $289,500 (6.6% below list)

Questions for the listing agent

1. Built in 1975 — 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. Schools are B-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?
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• GRM: 8.9

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-34,550
• Equity at exit: $46,207

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-9,962
• Equity at exit: $26,794

Cash invested: $86,772 (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 55388

• Home prices YoY: -18.8%
• Active inventory: 56
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,895 medium
• Mortgage (P&I): −$1,625
• Tax from tax record: −$286 /mo · $3,438/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $246

Break-even live

Break-even rent $2,583

Max offer price $309,900

Occupancy floor 86%

Sensitivity live

Price	-10% $422	-5% $334	+0% $246	+5% $159	+10% $71
Rent	-10% $18	-5% $132	+0% $246	+5% $361	+10% $475
Rate	-1.0pp $402	-0.5pp $325	base $246	+0.5pp $166	+1.0pp $84

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1190 Landings Ln Watertown, MN	4.0	3.0	2387	$2,895	$1.21	0d	1	0.75mi

Listing history 16 events

1. 2026-06-22
   days on market $309,900 Active 27 DOM
2. 2026-06-21
   days on market $309,900 Active 26 DOM
3. 2026-06-18
   days on market $309,900 Active 23 DOM
4. 2026-06-17
   days on market $309,900 Active 22 DOM
5. 2026-06-16
   days on market $309,900 Active 21 DOM
6. 2026-06-15
   days on market $309,900 Active 20 DOM
7. 2026-06-13
   days on market $309,900 Active 18 DOM
8. 2026-06-09
   days on market $309,900 Active 14 DOM
9. 2026-06-08
   days on market $309,900 Active 13 DOM
10. 2026-06-07
    days on market $309,900 Active 12 DOM
11. 2026-06-04
    days on market $309,900 Active 9 DOM
12. 2026-06-03
    days on market $309,900 Active 8 DOM
13. 2026-06-02
    days on market $309,900 Active 7 DOM
14. 2026-06-01
    days on market $309,900 Active 6 DOM
15. 2026-05-31
    days on market $309,900 Active 5 DOM
16. 2026-05-26
    listed $309,900 Active

ⓘ 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: $3,438 · $286/mo
• Projected year-2 tax: $3,454 · $288/mo
• Expected delta: +$16/yr (+$1/mo · 0.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 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: $34,740
• − Mortgage interest: −$17,359
• − Property taxes: −$3,438
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,779
• − Management: −$2,779
• − Depreciation: −$9,015
• Taxable loss: −$2,180
• Est. tax savings @ 24.0%: +$523
• After-tax cash flow: $3,479/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: Watertown-Mayer Public School District
• NCES district ID: 2741910
• Math proficiency: 43% ▼ -20.00%
• Reading proficiency: 54% ▼ -10.00%
• Median HH income: $74,803
• Composite: 43.87/100
• National rank: #2921
• State rank: #106 of 301 in MN

Livability — Watertown

• Score: 73/100
• State rank: #251
• US rank: #5405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, MN
• City population: 5,974
• Population (ZIP): 5,974

Population outlook (Carver County) Hauer SSP2

• Today (2025): 115,077 people
• By 2030: 122,880 · +6.8%
• By 2040: 137,210 · +19.2%
• By 2050: 148,524 · +29.1%
• By 2075: 174,624 · +51.7%
• By 2100: 185,806 · +61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 19% Romanian 3% Lithuanian 2%
• Foreign-born: 1% · South Korea, China

Political lean MEDSL · Carver

• 2024 margin: Lean R (+5.4) · D 46.3% · R 51.7% · Other 2.0%
• 2008→2024 swing: +9.7pp toward D · 2008: -15.1pp · 2024: -5.4pp
• All cycles: 2024: R+5.4 2020: R+4.9 2016: R+13.7 2012: R+19.7 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.87%
• Current HPI: 241.5369
• 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

1 event — show timeline

• 2026-05-26 Listed $309,900 FSBO.com

Property tax history

+1.1%/yr

Latest (2025): $3,438 · +5.8% YoY. Source: county tax records.