410 11th St SW · Willmar, MN 56201

$115,000

5 bd · 2.0 ba · 2,278 sqft · SingleFamily · 72 Days on market

Built 1900 0.31 ac lot $50/sqft · 52% below area

---

Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity! 5BR Home with Rental Potential in Willmar Attention investors and sweat-equity seekers! This 5-bedroom, 2-bathroom property at 410 11th Street SW offers incredible upside and a functional layout designed for value add potential. The upper level features four bedrooms on one level a rare and highly sought after configuration. The basement provides additional living space with a 5th bedroom and a convenient kitchenette equipped with a stove, sink, and cabinetry, offering an excellent head start for anyone looking to create a separate living area or generate supplemental rental income. Situated on a large city lot, the property includes an oversized and deep two-stall garage, providing ample room for a workshop, hobby space, or additional storage. This home is being sold as-is and needs TLC, making it the perfect project for a fix-and-flip or a long-term buy-and-hold. With five total bedrooms and dual-level kitchen facilities, the rental demand and equity potential here are significant. Bring your tools and your vision to secure this great deal!

Key facts

• 0.31 acre lot
• 4 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.2% in Willmar — 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 (#233 in MN, #4,984 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Willmar Public School District (town): math 34% / reading 38% proficiency, ranked #246 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 160 active listings in the ZIP; 196 units permitted in Kandiyohi County in 2024 (118 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.89%
• DSCR: 1.75
• GRM: 5.7

CMA / ARV

• ARV (median comp): $241,322
• List price: $115,000
• Delta: -52.35%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $10,301
• Equity at exit: $17,147

10-year hold

• IRR: 17.4%
• Equity multiple: 2.44×
• Total profit: $46,429
• Equity at exit: $9,943

Cash invested: $32,200 (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 56201

• Active inventory: 160
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$220 /mo · $2,636/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $453

Break-even live

Break-even rent $1,102

Max offer price $115,000

Occupancy floor 68%

Sensitivity live

Price	-10% $518	-5% $486	+0% $453	+5% $421	+10% $388
Rent	-10% $321	-5% $387	+0% $453	+5% $519	+10% $586
Rate	-1.0pp $511	-0.5pp $482	base $453	+0.5pp $423	+1.0pp $393

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $115,000 Active 72 DOM
2. 2026-06-18
   days on market $115,000 Active 70 DOM
3. 2026-06-17
   days on market $115,000 Active 69 DOM
4. 2026-06-16
   days on market $115,000 Active 68 DOM
5. 2026-06-16
   status $115,000 Active 67 DOM
6. 2026-06-15
   days on market $115,000 Contingent - Inspection 67 DOM
7. 2026-06-13
   days on market $115,000 Contingent - Inspection 65 DOM
8. 2026-06-12
   statusdays on market $115,000 Contingent - Inspection 64 DOM
9. 2026-06-09
   days on market $115,000 Active 61 DOM
10. 2026-06-08
    days on market $115,000 Active 60 DOM
11. 2026-06-07
    days on market $115,000 Active 59 DOM
12. 2026-06-07
    days on market $115,000 Active 58 DOM
13. 2026-06-04
    days on market $115,000 Active 55 DOM
14. 2026-06-03
    price $115,000 Active 54 DOM
15. 2026-06-02
    days on market $130,000 Active 54 DOM
16. 2026-06-01
    days on market $130,000 Active 53 DOM
17. 2026-05-31
    days on market $130,000 Active 52 DOM
18. 2026-05-31
    days on market $130,000 Active 51 DOM
19. 2026-04-10
    listed $130,000 Active 1083-char remark

    Show marketing remark (1083 chars)

    Investor Opportunity! 5BR Home with Rental Potential in Willmar Attention investors and sweat-equity seekers! This 5-bedroom, 2-bathroom property at 410 11th Street SW offers incredible upside and a functional layout designed for value add potential. The upper level features four bedrooms on one level a rare and highly sought after configuration. The basement provides additional living space with a 5th bedroom and a convenient kitchenette equipped with a stove, sink, and cabinetry, offering an excellent head start for anyone looking to create a separate living area or generate supplemental rental income. Situated on a large city lot, the property includes an oversized and deep two-stall garage, providing ample room for a workshop, hobby space, or additional storage. This home is being sold as-is and needs TLC, making it the perfect project for a fix-and-flip or a long-term buy-and-hold. With five total bedrooms and dual-level kitchen facilities, the rental demand and equity potential here are significant. Bring your tools and your vision to secure this great deal!

20. 2026-04-08
    historical $130,000 1083-char remark

    Show marketing remark (1083 chars)

    Investor Opportunity! 5BR Home with Rental Potential in Willmar Attention investors and sweat-equity seekers! This 5-bedroom, 2-bathroom property at 410 11th Street SW offers incredible upside and a functional layout designed for value add potential. The upper level features four bedrooms on one level a rare and highly sought after configuration. The basement provides additional living space with a 5th bedroom and a convenient kitchenette equipped with a stove, sink, and cabinetry, offering an excellent head start for anyone looking to create a separate living area or generate supplemental rental income. Situated on a large city lot, the property includes an oversized and deep two-stall garage, providing ample room for a workshop, hobby space, or additional storage. This home is being sold as-is and needs TLC, making it the perfect project for a fix-and-flip or a long-term buy-and-hold. With five total bedrooms and dual-level kitchen facilities, the rental demand and equity potential here are significant. Bring your tools and your vision to secure this great deal!

ⓘ 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: $2,636 · $220/mo
• Projected year-2 tax: $2,636 · $220/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 ≥98°F today · 14 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: $20,109
• − Mortgage interest: −$6,442
• − Property taxes: −$2,636
• − Insurance: −$575
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$3,345
• Taxable income: $3,893
• Est. tax owed @ 24.0%: −$934
• After-tax cash flow: $4,504/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: Willmar Public School District
• NCES district ID: 2742720
• Math proficiency: 34% ▼ -14.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $46,727
• Composite: 30.85/100
• National rank: #6128
• State rank: #246 of 301 in MN

Livability — Willmar

• Score: 73/100
• State rank: #233
• US rank: #4984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willmar, MN
• City population: 24,860
• Population (ZIP): 24,860

Population outlook (Kandiyohi County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 42,825 · -0.3%
• By 2040: 42,343 · -1.4%
• By 2050: 42,124 · -1.9%
• By 2075: 43,726 · +1.8%
• By 2100: 45,974 · +7.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 22% Black 10% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 15% Iranian 3% Scottish 2%
• Foreign-born: 15% · Canada, Philippines
• Languages at home: 78% English-only · Spanish 14% Other Asian/Pacific 2%

Political lean MEDSL · Kandiyohi

• 2024 margin: Solid R (+31.0) · D 33.7% · R 64.7% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -5.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+25.7 2016: R+25.5 2012: R+6.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.48%
• Current HPI: 161.1663
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-10 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Coming Soon $130,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $2,636 · +29.0% YoY. Source: county tax records.