471 1st Ave SW · Glenville, MN 56036

$194,900

4 bd · 2.0 ba · 1,824 sqft · SingleFamily public records · 213 Days on market

Built 1963 7,274 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).

• Appreciation +10.0/10.0
• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +1.7/10.0

Listing remarks MLS

Nicely finished four-bedroom split-level home offering small-town charm at its finest! The upper level boasts two spacious bedrooms, an eat-in kitchen, a full bathroom, and a generous living room filled with natural light. The lower level features a comfortable family room, a 1/4 bathroom that will need to be finished , and two additional bedrooms. Enjoy warm summer evenings on the inviting deck—perfect for relaxing or entertaining guests. Outside, you’ll appreciate the extra storage shed out back, along with the attached two-stall tandem garage offering plenty of storage and parking space. Priced to sell—don’t miss this one!

Key facts

• 7,274 sq ft lot
• 2 garage spots
• Built 1963

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (33.1% below list).
• Recommended offer: $130k (33.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#544 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D+.
• Glenville-Emmons School District (rural): math 50% / reading 45% proficiency, ranked #305 of 467 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenville Emmons Elementary (math 27% / reading 42%, grade F, #655 of 857 statewide, top 78%, 116 students, 48% FRL); Glenville-Emmons Secondary (math 24% / reading 24%, grade F, #383 of 471 statewide, top 88%, 98 students, 34% FRL) — zoned schools average 41% FRL vs 26% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Glenville-Emmons School District average; the district grade overstates school quality for this exact location.
• Market conditions: 13 active listings in the ZIP; 16 units permitted in Freeborn County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Freeborn County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $134k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $130,383 (33.1% 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 213 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.64%
• DSCR: 0.84
• GRM: 12.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.75×
• Total profit: $95,518
• Equity at exit: $175,581

10-year hold

• IRR: 19.5%
• Equity multiple: 6.30×
• Total profit: $289,440
• Equity at exit: $378,648

Cash invested: $54,572 (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 56036

• Home prices YoY: 6.7%
• Active inventory: 13
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$92 /mo · $1,110/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-166

Break-even live

Break-even rent $1,514

Max offer price $165,619

Occupancy floor —

Sensitivity live

Price	-10% $-55	-5% $-111	+0% $-166	+5% $-221	+10% $-276
Rent	-10% $-269	-5% $-217	+0% $-166	+5% $-114	+10% $-63
Rate	-1.0pp $-68	-0.5pp $-116	base $-166	+0.5pp $-216	+1.0pp $-268

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $194,900 Active 213 DOM
2. 2026-06-18
   days on market $194,900 Active 212 DOM
3. 2026-06-17
   days on market $194,900 Active 211 DOM
4. 2026-06-16
   days on market $194,900 Active 210 DOM
5. 2026-06-15
   days on market $194,900 Active 209 DOM
6. 2026-06-14
   days on market $194,900 Active 207 DOM
7. 2026-06-12
   days on market $194,900 Active 206 DOM
8. 2026-06-09
   days on market $194,900 Active 203 DOM
9. 2026-06-08
   days on market $194,900 Active 202 DOM
10. 2026-06-07
    days on market $194,900 Active 201 DOM
11. 2026-06-05
    days on market $194,900 Active 198 DOM
12. 2026-06-03
    days on market $194,900 Active 197 DOM
13. 2026-06-02
    days on market $194,900 Active 196 DOM
14. 2026-06-01
    days on market $194,900 Active 195 DOM
15. 2026-05-31
    days on market $194,900 Active 194 DOM
16. 2026-05-30
    days on market $194,900 Active 193 DOM
17. 2026-05-01
    price $194,900 657-char remark

    Show marketing remark (657 chars)

    Nicely finished four-bedroom split-level home offering small-town charm at its finest! The upper level boasts two spacious bedrooms, an eat-in kitchen, a full bathroom, and a generous living room filled with natural light. The lower level features a comfortable family room, a 1/4 bathroom that will need to be finished , and two additional bedrooms. Enjoy warm summer evenings on the inviting deck—perfect for relaxing or entertaining guests. Outside, you’ll appreciate the extra storage shed out back, along with the attached two-stall tandem garage offering plenty of storage and parking space. Priced to sell—don’t miss this one!

18. 2026-01-09
    price $199,900 657-char remark

    Show marketing remark (657 chars)

    Nicely finished four-bedroom split-level home offering small-town charm at its finest! The upper level boasts two spacious bedrooms, an eat-in kitchen, a full bathroom, and a generous living room filled with natural light. The lower level features a comfortable family room, a 1/4 bathroom that will need to be finished , and two additional bedrooms. Enjoy warm summer evenings on the inviting deck—perfect for relaxing or entertaining guests. Outside, you’ll appreciate the extra storage shed out back, along with the attached two-stall tandem garage offering plenty of storage and parking space. Priced to sell—don’t miss this one!

19. 2025-12-11
    price $209,900 657-char remark

    Show marketing remark (657 chars)

    Nicely finished four-bedroom split-level home offering small-town charm at its finest! The upper level boasts two spacious bedrooms, an eat-in kitchen, a full bathroom, and a generous living room filled with natural light. The lower level features a comfortable family room, a 1/4 bathroom that will need to be finished , and two additional bedrooms. Enjoy warm summer evenings on the inviting deck—perfect for relaxing or entertaining guests. Outside, you’ll appreciate the extra storage shed out back, along with the attached two-stall tandem garage offering plenty of storage and parking space. Priced to sell—don’t miss this one!

20. 2025-11-17
    listed $217,490 Active 657-char remark

    Show marketing remark (657 chars)

    Nicely finished four-bedroom split-level home offering small-town charm at its finest! The upper level boasts two spacious bedrooms, an eat-in kitchen, a full bathroom, and a generous living room filled with natural light. The lower level features a comfortable family room, a 1/4 bathroom that will need to be finished , and two additional bedrooms. Enjoy warm summer evenings on the inviting deck—perfect for relaxing or entertaining guests. Outside, you’ll appreciate the extra storage shed out back, along with the attached two-stall tandem garage offering plenty of storage and parking space. Priced to sell—don’t miss this one!

21. 2023-07-21
    soldstatus $134,000

ⓘ 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: $1,110 · $92/mo
• Projected year-2 tax: $1,646 · $137/mo
• Expected delta: +$536/yr (+$45/mo · 48.3%)

ⓘ 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 · 16 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: $15,646
• − Mortgage interest: −$10,917
• − Property taxes: −$1,110
• − Insurance: −$974
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − Depreciation: −$5,670
• Taxable loss: −$5,529
• Est. tax savings @ 24.0%: +$1,327
• After-tax cash flow: $-662/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: Glenville-Emmons School District
• NCES district ID: 2700148
• Math proficiency: 50% ▲ 20.00%
• Reading proficiency: 45% ▲ 15.00%
• Median HH income: $49,815
• Composite: 42.83/100
• National rank: #6740
• State rank: #305 of 467 in MN

Livability — Glenville

• Score: 65/100
• State rank: #544
• US rank: #13110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenville, MN
• Population (ZIP): 1,766

Population outlook (Freeborn County) Hauer SSP2

• Today (2025): 29,680 people
• By 2030: 29,038 · -2.2%
• By 2040: 27,650 · -6.8%
• By 2050: 26,387 · -11.1%
• By 2075: 25,224 · -15.0%
• By 2100: 23,842 · -19.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Portuguese 38% Lithuanian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Freeborn

• 2024 margin: Strong R (+21.3) · D 38.7% · R 60.0% · Other 1.3%
• 2008→2024 swing: -38.5pp toward R · 2008: 17.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+16.0 2016: R+17.4 2012: D+14.2 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.32%
• Current HPI: 259.8986
• 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

+45.4% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-09 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-17 Listed $217,490 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-21 Sold (Public Records) $134,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,110 · -8.3% YoY. Source: county tax records.