311 N 3rd St · Goodhue, MN 55027

$225,000

4 bd · 1.5 ba · 1,980 sqft · SingleFamily public records · 101 Days on market

Built 1900 8,232 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0

Listing remarks MLS

Welcome to Goodhue, MN, in school district #253. This home is in very close proximity to the school. You will enjoy this floor plan! Enter large Foyer and proceed into the sunken living room with a wood burning fireplace. There is a main floor bedroom with a half bath. Super large dining room, that could be designed to be something else, then enter the eat-in kitchen through one or two ways. The other three bedrooms and full bath are on the upper floor. Cute enclosed front porch and a backyard patio.

Key facts

• Half bath
• Large foyer
• Sunken living room

Tags

• CLOSE PROXIMITY TO SCHOOL
• LARGE FOYER
• SUNKEN LIVING ROOM
• WOOD BURNING FIREPLACE
• MAIN FLOOR BEDROOM
• HALF BATH

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-278 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (28.2% below list).
• Recommended offer: $161k (28.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#100 in MN, #2,280 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Goodhue Public School District (rural): math 44% / reading 51% proficiency, ranked #128 of 301 in MN (top 42%) — 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: Goodhue Elementary (math 52% / reading 61%, grade C+, #300 of 857 statewide, top 35%, 391 students, 25% FRL); Goodhue Secondary (math 32% / reading 37%, grade F, #306 of 471 statewide, top 70%, 315 students, 24% FRL).
• Market conditions: 12 active listings in the ZIP; 86 units permitted in Goodhue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Goodhue 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 ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $225k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $161,456 (28.2% 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 101 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — 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. 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?
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: 0.72% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.30%
• DSCR: 0.76
• GRM: 11.6

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: 20.5%
• Equity multiple: 2.66×
• Total profit: $104,858
• Equity at exit: $202,698

10-year hold

• IRR: 18.7%
• Equity multiple: 6.12×
• Total profit: $322,761
• Equity at exit: $437,126

Cash invested: $63,000 (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 55027

• Home prices YoY: 7.5%
• Active inventory: 12
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,615 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$280 /mo · $3,358/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-278

Break-even live

Break-even rent $1,966

Max offer price $175,889

Occupancy floor —

Sensitivity live

Price	-10% $-151	-5% $-214	+0% $-278	+5% $-342	+10% $-405
Rent	-10% $-406	-5% $-342	+0% $-278	+5% $-214	+10% $-150
Rate	-1.0pp $-165	-0.5pp $-221	base $-278	+0.5pp $-336	+1.0pp $-396

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $225,000 Active 101 DOM
2. 2026-06-18
   days on market $225,000 Active 100 DOM
3. 2026-06-17
   days on market $225,000 Active 99 DOM
4. 2026-06-16
   days on market $225,000 Active 98 DOM
5. 2026-06-15
   days on market $225,000 Active 97 DOM
6. 2026-06-14
   days on market $225,000 Active 95 DOM
7. 2026-06-12
   pricedays on market $225,000 Active 94 DOM
8. 2026-06-09
   days on market $240,000 Active 91 DOM
9. 2026-06-08
   days on market $240,000 Active 90 DOM
10. 2026-06-07
    days on market $240,000 Active 89 DOM
11. 2026-06-05
    days on market $240,000 Active 87 DOM
12. 2026-06-04
    days on market $240,000 Active 85 DOM
13. 2026-06-02
    days on market $240,000 Active 84 DOM
14. 2026-06-01
    days on market $240,000 Active 83 DOM
15. 2026-05-31
    days on market $240,000 Active 82 DOM
16. 2026-05-31
    days on market $240,000 Active 81 DOM
17. 2026-04-26
    price $240,000 505-char remark

    Show marketing remark (505 chars)

    Welcome to Goodhue, MN, in school district #253. This home is in very close proximity to the school. You will enjoy this floor plan! Enter large Foyer and proceed into the sunken living room with a wood burning fireplace. There is a main floor bedroom with a half bath. Super large dining room, that could be designed to be something else, then enter the eat-in kitchen through one or two ways. The other three bedrooms and full bath are on the upper floor. Cute enclosed front porch and a backyard patio.

18. 2026-03-30
    price $265,000 505-char remark

    Show marketing remark (505 chars)

    Welcome to Goodhue, MN, in school district #253. This home is in very close proximity to the school. You will enjoy this floor plan! Enter large Foyer and proceed into the sunken living room with a wood burning fireplace. There is a main floor bedroom with a half bath. Super large dining room, that could be designed to be something else, then enter the eat-in kitchen through one or two ways. The other three bedrooms and full bath are on the upper floor. Cute enclosed front porch and a backyard patio.

19. 2026-03-10
    listed $275,000 Active 505-char remark

    Show marketing remark (505 chars)

    Welcome to Goodhue, MN, in school district #253. This home is in very close proximity to the school. You will enjoy this floor plan! Enter large Foyer and proceed into the sunken living room with a wood burning fireplace. There is a main floor bedroom with a half bath. Super large dining room, that could be designed to be something else, then enter the eat-in kitchen through one or two ways. The other three bedrooms and full bath are on the upper floor. Cute enclosed front porch and a backyard patio.

20. 1997-10-21
    soldstatus $82,620

ⓘ 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: $3,358 · $280/mo
• Projected year-2 tax: $3,358 · $280/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 ≥100°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: $19,375
• − Mortgage interest: −$12,603
• − Property taxes: −$3,358
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$6,545
• Taxable loss: −$7,357
• Est. tax savings @ 24.0%: +$1,766
• After-tax cash flow: $-1,570/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: Goodhue Public School District
• NCES district ID: 2712900
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 51% ▼ -6.00%
• Median HH income: $67,435
• Composite: 42.36/100
• National rank: #3245
• State rank: #128 of 301 in MN

Livability — Goodhue

• Score: 79/100
• State rank: #100
• US rank: #2280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Goodhue, MN
• Population (ZIP): 2,948

Population outlook (Goodhue County) Hauer SSP2

• Today (2025): 46,532 people
• By 2030: 46,185 · -0.7%
• By 2040: 44,531 · -4.3%
• By 2050: 41,532 · -10.7%
• By 2075: 33,745 · -27.5%
• By 2100: 23,716 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 18% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Goodhue

• 2024 margin: R (+16.4) · D 40.8% · R 57.3% · Other 1.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -1.4pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+14.8 2016: R+18.0 2012: R+3.0 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.34%
• Current HPI: 305.02
• 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

+190.5% since first listed

4 events — show timeline

• 2026-04-26 Price Changed $240,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-10 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-10-21 Sold (Public Records) $82,620 Public Records

Property tax history

+7.9%/yr

Latest (2025): $3,358 · -2.6% YoY. Source: county tax records.