213 7th St NW · Faribault, MN 55021

$170,000

3 bd · 2.0 ba · 1,181 sqft · SingleFamily public records · 10 Days on market

Built 1920 3,920 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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quaint 1 ½ story home in a great location close to historical downtown Faribault. This home boasts 2 main floor bedrooms, huge remodeled upstairs bedroom, 2 bathrooms, original oak hardwood floors, updated kitchen, French doors, front porch with picture window, full basement with lots of storage and low maintenance private yard. New furnace, new AC, new water heater, new insulation and newer vinyl windows. Enjoy walking to restaurants, parades and festivals, biking nearby trails and listening to Thursday Night Summer Concerts in Central Park from your own backyard!

Key facts

• Downtown amenities
• Natural light
• Schools

Tags

• NATURAL LIGHT
• LOCAL PARKS
• SCHOOLS
• DOWNTOWN AMENITIES

Property features AI

Exterior

• Parking: Concrete parking surface; 1-car garage (approx. 200 sq ft) with 8' garage door
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Residential property; One and one-half story; Block foundation; Shingle/asphalt roof
• Construction: Frame construction with steel siding; Built with vinyl exterior
• Exterior features: Vinyl exterior; Wood fencing; Light tree coverage on lot; Porch

Interior

• Kitchen: Range; Refrigerator; Kitchen window
• Bedrooms: 3 bedrooms (two on main level, one upper-level bedroom)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (main floor); One half bathroom (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen and separate/formal dining room; Porch; Water softener (owned); Main-floor bedroom; Full basement
• Laundry & utility: Washer; Dryer

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 $140 ($2k/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 $161k (5.5% below list).
• Recommended offer: $161k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.3% in Faribault — 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 76/100 on livability (#158 in MN, #3,440 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment C-, commute F.
• Faribault Public School District (town): math 17% / reading 34% proficiency, ranked #275 of 301 in MN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 168 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 94% of comp listings sitting > 30 days — soft ceiling on asking rent; 93 units permitted in Rice 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 32y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,716 (5.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.95% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 8.8

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-18,656
• Equity at exit: $25,348

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-4,805
• Equity at exit: $14,698

Cash invested: $47,600 (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 55021

• Home prices YoY: -26.9%
• Active inventory: 168
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$891
• Tax from tax record: −$168 /mo · $2,012/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $140

Break-even live

Break-even rent $1,430

Max offer price $170,000

Occupancy floor 86%

Sensitivity live

Price	-10% $236	-5% $188	+0% $140	+5% $92	+10% $43
Rent	-10% $13	-5% $76	+0% $140	+5% $203	+10% $267
Rate	-1.0pp $225	-0.5pp $183	base $140	+0.5pp $96	+1.0pp $51

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 1st Ave NW Unit 1 Faribault, MN	2.0	1.5	1500	$1,450	$0.97	45d	1	0.22mi
417 1st Ave NW Unit 2 Faribault, MN	3.0	1.0	1500	$1,575	$1.05	45d	1	0.22mi
31 3rd St NE Unit R31-301 Faribault, MN	2.0	1.0	1400	$1,900	$1.36	45d	1	0.40mi
1125 Central Ave N Apt 3 Faribault, MN	2.0	1.0	1200	$1,350	$1.12	45d	1	0.43mi
429 8th Ave NW Unit FA-209 Faribault, MN	2.0	1.0	777	$1,375	$1.77	45d	1	0.48mi
429 8th Ave NW Unit FA-304 Faribault, MN	2.0	2.0	1070	$1,625	$1.52	45d	1	0.48mi
429 8th Ave NW Unit FA-415 Faribault, MN	2.0	1.0	844	$1,400	$1.66	45d	1	0.48mi
429 8th Ave NW Unit FA-107 Faribault, MN	2.0	1.0	857	$1,395	$1.63	45d	1	0.48mi
429 8th Ave NW Unit FA-404 Faribault, MN	2.0	2.0	1070	$1,675	$1.57	45d	1	0.48mi
429 8th Ave NW Faribault, MN	1.0–2.0	1.0	761	$1,350	$1.77	1d	4	0.48mi
429 8th Ave NW Unit FA-103 Faribault, MN	2.0	1.0	896	$1,450	$1.62	45d	1	0.48mi
429 8th Ave NW Unit FA-104 Faribault, MN	2.0	2.0	1070	$1,500	$1.40	45d	1	0.48mi
429 8th Ave NW Unit FA-403 Faribault, MN	2.0	1.0	896	$1,575	$1.76	45d	1	0.48mi
429 8th Ave NW Unit FA-215 Faribault, MN	2.0	1.0	844	$1,325	$1.57	45d	1	0.48mi
728 Willow St Faribault, MN	3.0	1.0	1200	$1,995	$1.66	45d	1	1.01mi
1321 1st St NE Unit 2 Faribault, MN	2.0	1.0	900	$1,350	$1.50	45d	1	1.37mi

Listing history 10 events

1. 2026-05-04
   status Pending 534-char remark
2. 2026-04-24
   listed $170,000 Active 534-char remark
3. 2020-10-29
   soldstatus $150,000
4. 2020-09-24
   soldstatus $150,000 Sold 578-char remark

   Show marketing remark (578 chars)

   Quaint 1 ½ story home in a great location close to historical downtown Faribault. This home boasts 2 main floor bedrooms, huge remodeled upstairs bedroom, 2 bathrooms, original oak hardwood floors, updated kitchen, French doors, front porch with picture window, full basement with lots of storage and low maintenance private yard. New furnace, new AC, new water heater, new insulation and newer vinyl windows. Enjoy walking to restaurants, parades and festivals, biking nearby trails and listening to Thursday Night Summer Concerts in Central Park from your own backyard!

5. 2020-07-27
   status Pending 578-char remark

   Show marketing remark (578 chars)

   Quaint 1 ½ story home in a great location close to historical downtown Faribault. This home boasts 2 main floor bedrooms, huge remodeled upstairs bedroom, 2 bathrooms, original oak hardwood floors, updated kitchen, French doors, front porch with picture window, full basement with lots of storage and low maintenance private yard. New furnace, new AC, new water heater, new insulation and newer vinyl windows. Enjoy walking to restaurants, parades and festivals, biking nearby trails and listening to Thursday Night Summer Concerts in Central Park from your own backyard!

6. 2020-07-17
   historical Contingent - Inspection 578-char remark

   Show marketing remark (578 chars)

   Quaint 1 ½ story home in a great location close to historical downtown Faribault. This home boasts 2 main floor bedrooms, huge remodeled upstairs bedroom, 2 bathrooms, original oak hardwood floors, updated kitchen, French doors, front porch with picture window, full basement with lots of storage and low maintenance private yard. New furnace, new AC, new water heater, new insulation and newer vinyl windows. Enjoy walking to restaurants, parades and festivals, biking nearby trails and listening to Thursday Night Summer Concerts in Central Park from your own backyard!

7. 2020-06-10
   listed $144,900 Active 578-char remark

   Show marketing remark (578 chars)

   Quaint 1 ½ story home in a great location close to historical downtown Faribault. This home boasts 2 main floor bedrooms, huge remodeled upstairs bedroom, 2 bathrooms, original oak hardwood floors, updated kitchen, French doors, front porch with picture window, full basement with lots of storage and low maintenance private yard. New furnace, new AC, new water heater, new insulation and newer vinyl windows. Enjoy walking to restaurants, parades and festivals, biking nearby trails and listening to Thursday Night Summer Concerts in Central Park from your own backyard!

8. 1995-04-14
   soldstatus $45,000
9. 1995-02-19
   historical
10. 1994-10-17
    listed $53,000

ⓘ 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: $2,012 · $168/mo
• Projected year-2 tax: $2,012 · $168/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 ≥99°F today · 15 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: $19,286
• − Mortgage interest: −$9,523
• − Property taxes: −$2,012
• − Insurance: −$850
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,945
• Taxable loss: −$1,130
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $1,947/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: Faribault Public School District
• NCES district ID: 2711760
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $54,584
• Composite: 22.85/100
• National rank: #8011
• State rank: #275 of 301 in MN

Livability — Faribault

• Score: 76/100
• State rank: #158
• US rank: #3440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Faribault, MN
• County: Rice County · 56,558 people
• City population: 30,908
• Metro: Faribault-Northfield, MN
• Population (ZIP): 30,908
• Household income: $68,820
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 755.0

Population outlook (Rice County) Hauer SSP2

• Today (2025): 66,716 people
• By 2030: 67,352 · +1.0%
• By 2040: 67,595 · +1.3%
• By 2050: 67,074 · +0.5%
• By 2075: 66,641 · -0.1%
• By 2100: 66,205 · -0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 13% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 9% Lithuanian 3% Romanian 2%
• Foreign-born: 11% · Canada
• Languages at home: 82% English-only · Spanish 9% Other Asian/Pacific 1%

Political lean MEDSL · Rice

• 2024 margin: Toss-up / Even · D 47.8% · R 50.3% · Other 1.8%
• 2008→2024 swing: -14.0pp toward R · 2008: 11.5pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: R+0.2 2016: R+3.1 2012: D+8.3 2008: D+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.12%
• Current HPI: 253.3996
• Rent YoY: —
• Metro: Faribault-Northfield, MN
• 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

+220.8% since first listed

10 events — show timeline

• 2026-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $170,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-29 Sold (Public Records) $150,000 Public Records
• 2020-09-24 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-10 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 1995-04-14 Sold (MLS) $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 1995-02-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1994-10-17 Listed $53,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.3%/yr

Latest (2025): $2,012 · +11.9% YoY. Source: county tax records.