313 Tanager Path · Mankato, MN 56001

$200,000

3 bd · 1.0 ba · 1,272 sqft · Townhouse public records · 15 Days on market

Built 2003 1,307 sqft lot $155/mo HOA · 9% of rent

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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 +11.5/30.0
• ARV discount +7.5/15.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy maintenance free living in this well cared for 3 bedroom, 2 bath, 2 stall tuck-under garage townhome located in the popular Wings Over White Oaks Association on Mankato's Hilltop, close to MNSU and easy access to many local amenities nearby. Association Fee of $103/month covers exterior maintenance, snow removal, lawn care AND building insurance, so keeping costs down continues to be an advantage here when it comes to only needing to worry about carrying a "studs in" home owners policy. Newer water heater and flooring (2018), stainless appliances, turn key ready!

Key facts

• New carpet
• Large pantry
• 1,307 sq ft lot

Tags

• MAIN-LEVEL PRIMARY SUITE
• PRIVATE ENSUITE BATHROOM
• LARGE PANTRY
• PROFESSIONAL INTERIOR PAINTING
• NEW CARPET
• SELECT SMART-HOME FEATURES

Property features AI

Finance

• HOA & community: Homeowners association with a $155 monthly fee

Exterior

• Parking: Attached 2-car garage; Garage door opener; Asphalt driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Underground utilities
• Home design: Single-family residence (townhome); Residential property
• Construction: Vinyl siding construction
• Exterior features: Asphalt roof; Vinyl siding; Private maintained road; 1400 SF lot (0.03 acre)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Cooktop; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central air; Ceiling fan(s); Natural gas forced air heating
• Interior features: Eat-in kitchen; Window coverings; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Gas water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-65 ($-776/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (13.9% below list).
• Recommended offer: $172k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.5% 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.
• Zoned schools: Rosa Parks Elementary (math 54% / reading 46%, grade D+, #417 of 857 statewide, top 49%, 434 students, 63% FRL); Prairie Winds Middle School (math 40% / reading 51%, grade D+, #106 of 258 statewide, top 43%, 954 students, 47% FRL); Mankato East Senior High (math 32% / reading 62%, grade D-, #166 of 471 statewide, top 39%, 1,293 students, 42% FRL) — zoned schools average 51% FRL vs 29% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.6%/yr); 359 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d 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

• It's been on market 15 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

Recommended offer $172,193 (13.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.86% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.9%
• Equity multiple: 0.51×
• Total profit: $-27,375
• Equity at exit: $29,821

10-year hold

• IRR: 2.5%
• Equity multiple: 1.22×
• Total profit: $12,490
• Equity at exit: $17,292

Cash invested: $56,000 (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 56001

• Rents YoY: 8.6%
• Active inventory: 359
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,722 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$83
• HOA: −$155
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-65

Break-even live

Break-even rent $1,804

Max offer price $188,577

Occupancy floor 99%

Sensitivity live

Price	-10% $49	-5% $-8	+0% $-65	+5% $-121	+10% $-178
Rent	-10% $-201	-5% $-133	+0% $-65	+5% $3	+10% $71
Rate	-1.0pp $36	-0.5pp $-14	base $-65	+0.5pp $-116	+1.0pp $-169

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Everglades Trl Mankato, MN	2.0–4.0	2.5	1453	$1,860	$1.28	45d	3	0.25mi
109 Willow Cascades Trl Unit 109 WCT Mankato, MN	3.0	2.5	1500	$1,850	$1.23	45d	1	0.28mi
701 S Victory Dr Unit 8 Mankato, MN	2.0	1.0	925	$1,349	$1.46	45d	1	0.51mi
50 Hilltop Ln Mankato, MN	1.0–2.0	1.0	760	$1,010	$1.33	45d	11	0.87mi
875 Heron Dr Mankato, MN	2.0	1.0	919	$1,098	$1.19	45d	1	0.91mi
200 Briargate Rd Mankato, MN	1.0–3.0	1.0–3.0	912	$1,799	$1.97	45d	32	1.12mi
140 Homestead Rd Mankato, MN	1.0–3.0	1.0	843	$1,313	$1.56	45d	8	1.12mi

HOA detail

• Monthly dues: $155 · $1,860/yr
• Likely covers: waterlandscapingsnow removalexterior maint.insurance

Listing history 13 events

1. 2026-06-18
   status $200,000 Pending 15 DOM
2. 2026-06-17
   days on market $200,000 Active Under Contract 15 DOM
3. 2026-06-16
   days on market $200,000 Active Under Contract 14 DOM
4. 2026-06-15
   days on market $200,000 Active Under Contract 13 DOM
5. 2026-06-14
   days on market $200,000 Active Under Contract 11 DOM
6. 2026-06-13
   statusdays on market $200,000 Active Under Contract 10 DOM
7. 2026-06-10
   days on market $200,000 Active 8 DOM
8. 2026-06-09
   days on market $200,000 Active 7 DOM
9. 2026-06-08
   days on market $200,000 Active 6 DOM
10. 2026-06-07
    days on market $200,000 Active 5 DOM
11. 2026-06-05
    days on market $200,000 Active 2 DOM
12. 2026-06-03
    remarks 699-char remark
13. 2026-06-03
    listed $200,000 Active 1 DOM

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $1,947 · $162/mo
• Expected delta: +$293/yr (+$24/mo · 17.7%)

ⓘ 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 3/10 Moderate
• 🌡 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: $20,663
• − Mortgage interest: −$11,203
• − Property taxes: −$1,654
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − HOA: −$1,860
• − Depreciation: −$5,818
• Taxable loss: −$4,178
• Est. tax savings @ 24.0%: +$1,003
• After-tax cash flow: $227/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

+60.1% since first listed

16 events — show timeline

• 2026-06-01 Listed $200,000 RASM
• 2022-06-16 Sold (Public Records) $180,000 Public Records
• 2022-06-10 Sold (MLS) $180,000 RASM
• 2022-04-22 Listed $180,000 RASM
• 2020-04-23 Sold (Public Records) $145,000 Public Records
• 2020-04-17 Sold (MLS) $145,000 RASM
• 2020-04-17 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-13 Listed $144,900 RASM
• 2020-03-12 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-26 Sold (Public Records) $125,000 Public Records
• 2017-07-21 Sold (MLS) $125,000 RASM
• 2017-07-21 Sold (MLS) $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-09 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-08 Listed $124,900 RASM

Property tax history

+3.9%/yr

Latest (2025): $1,654 · -4.8% YoY. Source: county tax records.