511 6th Ave S · St. Cloud, MN 56301

$169,900

5 bd · 2.0 ba · 2,079 sqft · SingleFamily · 65 Days on market

Built 1916 7,405 sqft lot $82/sqft · 22% below area Est $217k · 22% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +3.3/5.0
• Schools +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Rental Opportunity Near SCSU 5 Bed | 2 Bath | Licensed for 4 Bedrooms Excellent opportunity to own a well-located rental property just minutes from St. Cloud State University. This 5-bedroom, 2-bath home is currently licensed for 4 bedrooms and generates $1,875 per month in rental income. The home features four upper-level bedrooms, a spacious living room with hardwood floors, and newer flooring in the kitchen and dining area. A separate basement entrance adds flexibility for tenants or future use. Outside, the property offers ample off-street parking plus a large detached garage with a loft area, providing abundant storage space. Tenants are responsible for gas and electric, while the owner pays water, sewer, and garbage, keeping operating expenses manageable. With its layout and location, this property also offers the potential to transition back to a single-family home once the current lease expires. Current Lease in place until April 2027.

Key facts

• Newer flooring
• Hardwood floors
• Spacious living room

Tags

• LICENSED FOR 4 BEDROOMS
• SPACIOUS LIVING ROOM
• HARDWOOD FLOORS
• NEWER FLOORING
• SEPARATE BASEMENT ENTRANCE
• AMPLE OFF-STREET PARKING

🏷️ Possibly a rental listed for sale. The $169,900 price doesn't fit this home's estimated sale value (~$217,487) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $160k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 3.9% in St. Cloud — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 218 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).
• This rent runs 37% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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.
• Current owner paid $126k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1916 — 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. 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: 1.33% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $217,487
• List price: $169,900
• Delta: -21.88%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.29×
• Total profit: $14,011
• Equity at exit: $25,333

10-year hold

• IRR: 17.1%
• Equity multiple: 2.43×
• Total profit: $68,231
• Equity at exit: $14,690

Cash invested: $47,572 (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 56301

• Rents YoY: 3.4%
• Active inventory: 218
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,268 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$192 /mo · $2,300/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $638

Break-even live

Break-even rent $1,460

Max offer price $169,900

Occupancy floor 67%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 5th Ave S Saint Cloud, MN	4.0	2.5	2300	$1,500	$0.65	43d	1	0.15mi
801 15th Ave S Unit 1 St Cloud, MN	4.0	2.0	1525	$1,900	$1.25	43d	1	0.65mi
1205 11th St SE Saint Cloud, MN	4.0	2.0	1416	$2,450	$1.73	43d	1	1.00mi
1225 13th St SE Saint Cloud, MN	4.0	3.0	1500	$2,450	$1.63	43d	1	1.04mi
1615 15th Ave SE St Cloud, MN	2.0–4.0	1.0–3.0	1312	$2,722	$2.07	1d	8	1.26mi

Listing history 31 events

1. 2026-06-19
   days on market $169,900 Active 65 DOM
2. 2026-06-18
   days on market $169,900 Active 64 DOM
3. 2026-06-17
   days on market $169,900 Active 63 DOM
4. 2026-06-16
   days on market $169,900 Active 62 DOM
5. 2026-06-15
   days on market $169,900 Active 61 DOM
6. 2026-06-14
   days on market $169,900 Active 59 DOM
7. 2026-06-13
   days on market $169,900 Active 58 DOM
8. 2026-06-10
   pricedays on market $169,900 Active 56 DOM
9. 2026-06-09
   days on market $175,000 Active 55 DOM
10. 2026-06-08
    days on market $175,000 Active 54 DOM
11. 2026-06-07
    days on market $175,000 Active 53 DOM
12. 2026-06-03
    days on market $175,000 Active 49 DOM
13. 2026-06-02
    days on market $175,000 Active 48 DOM
14. 2026-06-01
    days on market $175,000 Active 47 DOM
15. 2026-05-31
    days on market $175,000 Active 46 DOM
16. 2026-05-30
    days on market $175,000 Active 45 DOM
17. 2026-04-15
    listed $175,000 Active 964-char remark

    Show marketing remark (964 chars)

    Prime Rental Opportunity Near SCSU 5 Bed | 2 Bath | Licensed for 4 Bedrooms Excellent opportunity to own a well-located rental property just minutes from St. Cloud State University. This 5-bedroom, 2-bath home is currently licensed for 4 bedrooms and generates $1,875 per month in rental income. The home features four upper-level bedrooms, a spacious living room with hardwood floors, and newer flooring in the kitchen and dining area. A separate basement entrance adds flexibility for tenants or future use. Outside, the property offers ample off-street parking plus a large detached garage with a loft area, providing abundant storage space. Tenants are responsible for gas and electric, while the owner pays water, sewer, and garbage, keeping operating expenses manageable. With its layout and location, this property also offers the potential to transition back to a single-family home once the current lease expires. Current Lease in place until April 2027.

18. 2021-12-29
    historical
19. 2021-11-05
    historical Contingent - Inspection
20. 2021-08-01
    listed $179,900 Active
21. 2020-06-03
    soldstatus $126,000
22. 2020-05-29
    soldstatus $126,000 Sold
23. 2020-02-25
    status Pending
24. 2020-02-18
    historical Contingent - Inspection
25. 2020-01-31
    price $129,898
26. 2020-01-10
    listed $134,898 Active
27. 2015-10-02
    soldstatus $122,500 Sold
28. 2015-10-02
    soldstatus $122,500
29. 2015-09-12
    status Pending
30. 2015-09-10
    historical Contingent - Inspection
31. 2015-08-25
    listed $122,900 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: $2,300 · $192/mo
• Projected year-2 tax: $2,300 · $192/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 ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,215
• − Mortgage interest: −$9,517
• − Property taxes: −$2,300
• − Insurance: −$850
• − Repairs & maintenance: −$2,177
• − Management: −$2,177
• − Depreciation: −$4,943
• Taxable income: $5,252
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $6,399/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: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, MN
• County: Stearns County · 90,226 people
• City population: 60,914
• Metro: St. Cloud, MN
• Population (ZIP): 35,580
• Household income: $73,142
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 1831.0

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 20% Hispanic / Latino 6% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Portuguese 6% Romanian 4% Lithuanian 2%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 4% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.70%
• Current HPI: 148.6882
• Rent YoY: ▲ 3.38%
• Metro: St. Cloud, 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

+42.4% since first listed

15 events — show timeline

• 2026-04-15 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-01 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-03 Sold (Public Records) $126,000 Public Records
• 2020-05-29 Sold (MLS) $126,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-31 Price Changed $129,898 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-10 Listed $134,898 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-02 Sold (Public Records) $122,500 Public Records
• 2015-10-02 Sold (MLS) $122,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-25 Listed $122,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $2,300 · +1.7% YoY. Source: county tax records.