129 S Main St · Sherburn, MN 56171

$87,000

4 bd · 2.0 ba · 1,568 sqft · SingleFamily public records · 319 Days on market

Built 1910 0.25 ac lot $55/sqft · 45% below area Est $157k · 45% 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 +9.5/10.0
• Schools +3.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

Key facts

• Good-sized lot
• Main-level bedroom
• Main floor laundry

Tags

• MAIN-LEVEL BEDROOM
• MAIN FLOOR LAUNDRY
• GOOD-SIZED LOT
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#286 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety D+, amenities F, commute F.
• Martin County West School District (rural): math 38% / reading 50% proficiency, ranked #187 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Trimont Elementary (math 42% / reading 52%, grade D-, #492 of 857 statewide, top 61%, 185 students, 48% FRL); Martin County West Junior High (math 27% / reading 37%, grade F, #188 of 258 statewide, top 73%, 95 students, 47% FRL); Martin County West Senior High (math 44% / reading 64%, grade C-, #87 of 471 statewide, top 22%, 224 students, 48% FRL) — zoned schools average 48% FRL vs 28% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 18 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 319 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $21k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 319 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
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: 1.45% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.53%
• DSCR: 1.87
• GRM: 5.8

CMA / ARV

• ARV (median comp): $157,194
• List price: $87,000
• Delta: -44.65%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.6%
• Equity multiple: 1.46×
• Total profit: $11,165
• Equity at exit: $12,972

10-year hold

• IRR: 20.6%
• Equity multiple: 2.74×
• Total profit: $42,297
• Equity at exit: $7,522

Cash invested: $24,360 (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 56171

• Home prices YoY: -6.4%
• Active inventory: 18
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $396

Break-even live

Break-even rent $756

Max offer price $87,000

Occupancy floor 63%

Sensitivity live

Price	-10% $446	-5% $421	+0% $396	+5% $372	+10% $347
Rent	-10% $297	-5% $347	+0% $396	+5% $446	+10% $496
Rate	-1.0pp $440	-0.5pp $419	base $396	+0.5pp $374	+1.0pp $351

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $87,000 Active 319 DOM
2. 2026-06-21
   days on market $87,000 Active 318 DOM
3. 2026-06-18
   days on market $87,000 Active 316 DOM
4. 2026-06-17
   days on market $87,000 Active 315 DOM
5. 2026-06-16
   days on market $87,000 Active 314 DOM
6. 2026-06-15
   days on market $87,000 Active 313 DOM
7. 2026-06-13
   days on market $87,000 Active 311 DOM
8. 2026-06-12
   days on market $87,000 Active 310 DOM
9. 2026-06-09
   days on market $87,000 Active 307 DOM
10. 2026-06-08
    days on market $87,000 Active 306 DOM
11. 2026-06-07
    days on market $87,000 Active 305 DOM
12. 2026-06-05
    days on market $87,000 Active 303 DOM
13. 2026-06-04
    days on market $87,000 Active 301 DOM
14. 2026-06-02
    days on market $87,000 Active 300 DOM
15. 2026-06-01
    days on market $87,000 Active 299 DOM
16. 2026-05-31
    days on market $87,000 Active 298 DOM
17. 2026-05-31
    days on market $87,000 Active 297 DOM
18. 2026-04-23
    price $87,000 357-char remark

    Show marketing remark (357 chars)

    Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

19. 2025-09-28
    price $97,000 357-char remark

    Show marketing remark (357 chars)

    Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

20. 2025-08-19
    price $99,500 357-char remark

    Show marketing remark (357 chars)

    Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

21. 2025-08-12
    price $103,000 357-char remark

    Show marketing remark (357 chars)

    Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

22. 2025-08-06
    listed $108,000 Active 357-char remark

    Show marketing remark (357 chars)

    Looking for a home with good space and location? This 2-story, 4-bedroom has a main-level bedroom, main floor laundry, and a good-sized lot for all your outdoor activities. The 3 upper-level bedrooms provide plenty of room for family or a home office. Plus, you're just minutes from downtown! Schedule a tour today and see why this home is perfect for you!

23. 2022-03-31
    soldstatus $78,252
24. 2022-03-02
    soldstatus $78,250 Sold 403-char remark

    Show marketing remark (403 chars)

    Traditional 2 story home, loaded with character, wood floors, 4 large bedrooms, 2 baths, formal dining, nice size rooms with 9 foot ceilings, newer siding, windows and roof, 100 amp service breakers, beautiful large shaded lot. The improvements make this property very affordable, average Gas Expense is $50.00 per month, average Electricity Expense is $20.00 per month, average Water Expense is $60.00.

25. 2022-02-17
    status Pending 403-char remark

    Show marketing remark (403 chars)

    Traditional 2 story home, loaded with character, wood floors, 4 large bedrooms, 2 baths, formal dining, nice size rooms with 9 foot ceilings, newer siding, windows and roof, 100 amp service breakers, beautiful large shaded lot. The improvements make this property very affordable, average Gas Expense is $50.00 per month, average Electricity Expense is $20.00 per month, average Water Expense is $60.00.

26. 2022-02-08
    price $75,900 403-char remark

    Show marketing remark (403 chars)

    Traditional 2 story home, loaded with character, wood floors, 4 large bedrooms, 2 baths, formal dining, nice size rooms with 9 foot ceilings, newer siding, windows and roof, 100 amp service breakers, beautiful large shaded lot. The improvements make this property very affordable, average Gas Expense is $50.00 per month, average Electricity Expense is $20.00 per month, average Water Expense is $60.00.

27. 2022-01-31
    price $92,500 403-char remark

    Show marketing remark (403 chars)

    Traditional 2 story home, loaded with character, wood floors, 4 large bedrooms, 2 baths, formal dining, nice size rooms with 9 foot ceilings, newer siding, windows and roof, 100 amp service breakers, beautiful large shaded lot. The improvements make this property very affordable, average Gas Expense is $50.00 per month, average Electricity Expense is $20.00 per month, average Water Expense is $60.00.

28. 2021-12-05
    listed $95,000 Active 403-char remark

    Show marketing remark (403 chars)

    Traditional 2 story home, loaded with character, wood floors, 4 large bedrooms, 2 baths, formal dining, nice size rooms with 9 foot ceilings, newer siding, windows and roof, 100 amp service breakers, beautiful large shaded lot. The improvements make this property very affordable, average Gas Expense is $50.00 per month, average Electricity Expense is $20.00 per month, average Water Expense is $60.00.

29. 2019-06-27
    soldstatus $44,500
30. 2019-06-26
    soldstatus $44,500 Sold
31. 2019-04-19
    status Pending
32. 2018-08-14
    listed $47,500 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: $1,260 · $105/mo
• Projected year-2 tax: $1,260 · $105/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $15,097
• − Mortgage interest: −$4,873
• − Property taxes: −$1,260
• − Insurance: −$435
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$2,531
• Taxable income: $3,582
• Est. tax owed @ 24.0%: −$860
• After-tax cash flow: $3,897/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: Martin County West School District
• NCES district ID: 2718960
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 50% ▼ -8.00%
• Median HH income: $48,825
• Composite: 37.66/100
• National rank: #4369
• State rank: #187 of 301 in MN

Livability — Sherburn

• Score: 72/100
• State rank: #286
• US rank: #6254

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherburn, MN
• Population (ZIP): 1,527

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 11% Romanian 4% Italian 3%
• Foreign-born: 0%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.11%
• Current HPI: 235.6561
• 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

+83.2% since first listed

15 events — show timeline

• 2026-04-23 Price Changed $87,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-28 Price Changed $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-19 Price Changed $99,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $103,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-06 Listed $108,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-31 Sold (Public Records) $78,252 Public Records
• 2022-03-02 Sold (MLS) $78,250 NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-02-08 Price Changed $75,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-31 Price Changed $92,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-05 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-27 Sold (Public Records) $44,500 Public Records
• 2019-06-26 Sold (MLS) $44,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-14 Listed $47,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,260 · +37.9% YoY. Source: county tax records.