113 4th St · Dawson, MN 56232

$130,000

4 bd · 2.0 ba · 1,632 sqft · SingleFamily · 2 Days on market

Built 1947 0.26 ac lot

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Move-in ready and thoughtfully updated, this Dawson home offers the perfect blend of modern updates and everyday functionality. The main floor welcomes you with an open-concept layout connecting the living room, dining area, and kitchen. Updated windows fill the home with natural light, highlighting the beautiful hardwood floors on the main level. The kitchen features ample cabinet and counter space along with a center island, making it both practical and perfect for gathering. A main floor bedroom and a nicely updated full bathroom add convenience and flexibility to the layout. Upstairs, you’ll find two generously sized bedrooms with great closet space. The lower level expands your l

Key facts

• Updated windows
• Ample cabinet space
• Main floor bedroom

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED WINDOWS
• HARDWOOD FLOORS
• AMPLE CABINET SPACE
• CENTER ISLAND
• MAIN FLOOR BEDROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 $125k (3.9% below list).
• Recommended offer: $125k (3.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#145 in MN, #3,213 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Dawson-Boyd Public School District (rural): math 42% / reading 58% proficiency, ranked #124 of 301 in MN (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 9 units permitted in Lac qui Parle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($899 loan paydown + $6k appreciation (4.2% local appreciation)).
• Lac qui Parle County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $95k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,960 (3.9% below list)

Questions for the listing agent

1. Built in 1947 — 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. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 7.13%
• Cash-on-cash: 3.00%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.83×
• Total profit: $30,202
• Equity at exit: $67,742

10-year hold

• IRR: 14.7%
• Equity multiple: 3.45×
• Total profit: $89,227
• Equity at exit: $112,282

Cash invested: $36,400 (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 56232

• Home prices YoY: 2.1%
• Active inventory: 29
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $91

Break-even live

Break-even rent $1,134

Max offer price $130,000

Occupancy floor 88%

Sensitivity live

Price	-10% $165	-5% $128	+0% $91	+5% $54	+10% $17
Rent	-10% $-8	-5% $42	+0% $91	+5% $140	+10% $190
Rate	-1.0pp $156	-0.5pp $124	base $91	+0.5pp $57	+1.0pp $23

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-18
   status Pending
2. 2026-04-15
   listed $130,000 Active
3. 2021-01-11
   soldstatus $95,000
4. 2021-01-11
   listed $97,500
5. 2021-01-11
   soldstatus $95,000
6. 2021-01-11
   soldstatus $95,000

ⓘ 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: $1,924 · $160/mo
• Projected year-2 tax: $1,924 · $160/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 · 13 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: $14,995
• − Mortgage interest: −$7,282
• − Property taxes: −$1,924
• − Insurance: −$650
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,782
• Taxable loss: −$1,042
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $1,342/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: Dawson-Boyd Public School District
• NCES district ID: 2710090
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $47,615
• Composite: 42.5/100
• National rank: #3204
• State rank: #124 of 301 in MN

Livability — Dawson

• Score: 77/100
• State rank: #145
• US rank: #3213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dawson, MN
• Population (ZIP): 2,365

Population outlook (Lac qui Parle County) Hauer SSP2

• Today (2025): 6,291 people
• By 2030: 6,021 · -4.3%
• By 2040: 5,517 · -12.3%
• By 2050: 5,094 · -19.0%
• By 2075: 4,640 · -26.2%
• By 2100: 4,173 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Portuguese 41% English 3% Scottish 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Lac qui Parle

• 2024 margin: Solid R (+32.2) · D 32.9% · R 65.2% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: 5.9pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.8 2016: R+25.9 2012: D+0.9 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.24%
• Current HPI: 210.1619
• 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

+36.8% since first listed

6 events — show timeline

• 2026-04-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-11 Sold (Public Records) $95,000 Public Records
• 2021-01-11 Sold (Public Records) $95,000 Public Records
• 2021-01-11 Listed $97,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-01-11 Sold (MLS) $95,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.6%/yr

Latest (2026): $1,924 · +8.3% YoY. Source: county tax records.