130 Haynes St · Mankato, MN 56001

$194,000

3 bd · 1.0 ba · 1,156 sqft · SingleFamily public records · 3 Days on market

Built 1947 4,356 sqft lot Est $260k · 25% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

Key facts

• Remodeled kitchen
• Unfinished basement
• Newer lvp flooring

Tags

• REMODELED KITCHEN
• STAINLESS STEEL APPLIANCES
• NEWER LVP FLOORING
• SPACIOUS WALK-IN CLOSET
• UNFINISHED BASEMENT
• R-2 RENTAL LICENSE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $-58 ($-695/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (23.0% below list).
• Recommended offer: $149k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 352 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 269 units permitted in Blue Earth County in 2024 (154 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 $6k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,292 (23.0% 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. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.77% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $260,100
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Thayer	0.16mi	3/2.0	1,148 (-1%)	15mo	$258,000	$225	75
709 Warren St St	0.20mi	2/1.0 (-1)	1,208 (+4%)	6mo	$183,000	$151	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.50×
• Total profit: $-27,278
• Equity at exit: $28,926

10-year hold

• IRR: 1.6%
• Equity multiple: 1.13×
• Total profit: $7,237
• Equity at exit: $16,774

Cash invested: $54,320 (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 56001

• Rents YoY: 8.6%
• Active inventory: 352
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$1,017
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-58

Break-even live

Break-even rent $1,566

Max offer price $183,763

Occupancy floor 99%

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Glenwood Ave Mankato, MN	2.0–3.0	1.0	1075	$1,330	$1.24	43d	8	0.38mi
140 Homestead Rd Mankato, MN	1.0–3.0	1.0	843	$1,313	$1.56	43d	8	0.53mi
200 Briargate Rd Mankato, MN	1.0–3.0	1.0–3.0	912	$1,799	$1.97	43d	32	0.56mi
405 N 5th St Mankato, MN	1.0–3.0	1.0–2.0	780	$1,600	$2.05	43d	16	0.96mi
325 E Washington St Unit 3 Mankato, MN	2.0	1.0	795	$1,025	$1.29	43d	1	0.99mi
1050 Marsh St Unit 326 Van Tol Mankato, MN	3.0	2.0	1461	$2,360	$1.62	43d	1	1.05mi
210 Dewey Ln Mankato, MN	2.0	1.0	899	$932	$1.04	43d	1	1.11mi
120 Knollcrest Dr Mankato, MN	2.0	1.0	897	$1,020	$1.14	43d	4	1.15mi
235 Belgrade Ave Unit 201 North Mankato, MN	2.0	1.0	900	$1,550	$1.72	43d	1	1.21mi
614 N Riverfront Dr Unit 624 1/2 Mankato, MN	2.0	1.0	900	$1,000	$1.11	43d	1	1.29mi
875 Heron Dr Mankato, MN	2.0	1.0	919	$1,098	$1.19	43d	1	1.35mi
50 Hilltop Ln Mankato, MN	1.0–2.0	1.0	760	$1,010	$1.33	43d	11	1.38mi
320 E Lafayette St Mankato, MN	2.0	1.0	1122	$1,545	$1.38	43d	1	1.44mi

Listing history 16 events

1. 2026-05-20
   soldstatus $205,000 Sold 1553-char remark

   Show marketing remark (1553 chars)

   Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

2. 2026-04-06
   status Pending
3. 2026-04-05
   status Pending 1553-char remark

   Show marketing remark (1553 chars)

   Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

4. 2026-04-03
   listed $194,000 Active

   Show marketing remark (1553 chars)

   Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

5. 2026-04-03
   listed $194,900 Active 1553-char remark

   Show marketing remark (1553 chars)

   Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

6. 2026-04-02
   historical $194,900 1553-char remark

   Show marketing remark (1553 chars)

   Why rent when you can own or invest? This charming 1.5-story home offers a strong opportunity for both owner-occupants and investors looking to build equity and generate rental income in a convenient Mankato location. Situated near Minnesota State University, Jefferson Elementary, and Heritage Estates Park, the location supports consistent rental demand and long-term value. Inside, you’ll find natural woodwork and original paneled doors that add warmth and character throughout. The remodeled kitchen is a standout, featuring ceiling-height white cabinetry, new countertops, stainless steel appliances, a paneled ceiling, and updated lighting. Newer LVP flooring spans the main level, which includes two bedrooms, noting that one does not have a closet, along with comfortable living space. Upstairs, the primary bedroom features angled ceilings, a spacious walk-in closet, and additional storage, adding to the home’s overall functionality. The unfinished basement offers excellent storage today with the potential to finish and add future living space, increasing value over time. Additional updates include newer main-level windows, a professionally painted exterior, and basement wall reinforcement for added peace of mind. A 1-car detached garage sits conveniently next to the home. Property includes an R-2 rental license, making it a ready-to-go rental opportunity with flexibility for investors or future income potential. A well-cared-for property with character, updates, and income potential in a location close to everything.

7. 2017-08-16
   soldstatus $129,900
8. 2017-08-11
   soldstatus $129,900 764-char remark

   Show marketing remark (764 chars)

   Cute, comfortable and affordable 3 BR, 1 BA home near MSU with transferable rental license. This home has hardwood floors and nice woodwork on the main level. A good size eat-in Kitchen and all appliances are included. Some of the home's updates include a new Lennox 95 efficient furnace and high-efficient central air unit in 2009, new sheetrock and laminate flooring in the upstairs bedroom, extra insulation added in the attic area, all new exterior doors, and keyless entry to garage. Also featuring full unfinished basement, good size yard with alley access, 24 x 12 garage plus carport and has great location close to MSU campus and restaurants. New basement drain tile and sump being added by Basement Solutions by closing. Currently leased through July 31.

9. 2017-06-16
   listed $129,900 764-char remark

   Show marketing remark (764 chars)

   Cute, comfortable and affordable 3 BR, 1 BA home near MSU with transferable rental license. This home has hardwood floors and nice woodwork on the main level. A good size eat-in Kitchen and all appliances are included. Some of the home's updates include a new Lennox 95 efficient furnace and high-efficient central air unit in 2009, new sheetrock and laminate flooring in the upstairs bedroom, extra insulation added in the attic area, all new exterior doors, and keyless entry to garage. Also featuring full unfinished basement, good size yard with alley access, 24 x 12 garage plus carport and has great location close to MSU campus and restaurants. New basement drain tile and sump being added by Basement Solutions by closing. Currently leased through July 31.

10. 2010-08-19
    historical
11. 2010-03-20
    listed $107,900
12. 2010-03-20
    listed $107,900
13. 2003-06-13
    soldstatus $110,000
14. 2003-06-13
    soldstatus $110,000
15. 2003-02-27
    historical
16. 2002-11-08
    listed $112,000

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,921 · $160/mo
• Expected delta: +$251/yr (+$21/mo · 15.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,915
• − Mortgage interest: −$10,867
• − Property taxes: −$1,670
• − Insurance: −$970
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$5,644
• Taxable loss: −$4,102
• Est. tax savings @ 24.0%: +$984
• After-tax cash flow: $289/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

+83.0% since first listed

16 events — show timeline

• 2026-05-20 Sold (MLS) $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Pending — RASM
• 2026-04-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Listed $194,000 RASM
• 2026-04-03 Listed $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Coming Soon $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-16 Sold (Public Records) $129,900 Public Records
• 2017-08-11 Sold (MLS) $129,900 RASM
• 2017-06-16 Listed $129,900 RASM
• 2010-08-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-20 Listed $107,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-20 Listed $107,900 NORTHSTARMLS as Distributed by MLS Grid
• 2003-06-13 Sold (Public Records) $110,000 Public Records
• 2003-06-13 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-02-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-08 Listed $112,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,670 · +7.1% YoY. Source: county tax records.