303 W Church St · St. Leo, MN 56264

$119,900

3 bd · 1.0 ba · 1,494 sqft · SingleFamily public records · 23 Days on market

Built 1956 0.47 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this spacious 3-bedroom, 1-bath rambler offering an impressive 2,655 sq. ft. of living space. Situated on a large lot, this property provides plenty of room both inside and out for comfortable living and entertaining. Conveniently located between Marshall, Granite Falls, and Canby, this home offers small-town charm with easy access to surrounding communities. Whether you're looking for your first home, more space for a growing family, or a place to make lasting memories, this property is ready for its next chapter. Don't miss the opportunity to make this wonderful property your next home!

Key facts

• 0.47 acre lot
• Garage
• Built 1956

Property features AI

Exterior

• Parking: Attached garage (1 car) — approximately 13x22
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential single-story home; Main entry on the one level
• Construction: Block foundation; Asphalt roof (over 8 years old)
• Exterior features: Vinyl exterior; Chain-link fencing; Cleared lot with light tree coverage

Interior

• Kitchen: Main-level kitchen (12x12)
• Bedrooms: Three bedrooms on the main level (sizes: 12x17, 12x14, 12x14)
• Bathrooms: One full bathroom on the main level (5x14)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main-level living with one level of living space; Unfinished block basement with storage space and sump pump
• Laundry & utility: Main-level laundry room (6x19)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Canby Public School District (rural): math 52% / reading 52% proficiency, ranked #99 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canby Elementary (math 67% / reading 62%, grade B, #130 of 857 statewide, top 18%, 304 students, 49% FRL); Canby Secondary (math 37% / reading 42%, grade F, #246 of 471 statewide, top 59%, 303 students, 43% FRL) — zoned schools average 46% FRL vs 22% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 6 active listings in the ZIP; 7 units permitted in Yellow Medicine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Yellow Medicine County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $120k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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: 1.02% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,289
• Equity at exit: $17,877

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $13,501
• Equity at exit: $10,367

Cash invested: $33,572 (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 56264

• Home prices YoY: -24.8%
• Active inventory: 6
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $223

Break-even live

Break-even rent $937

Max offer price $119,900

Occupancy floor 77%

Sensitivity live

Price	-10% $290	-5% $257	+0% $223	+5% $189	+10% $155
Rent	-10% $126	-5% $174	+0% $223	+5% $271	+10% $319
Rate	-1.0pp $283	-0.5pp $253	base $223	+0.5pp $192	+1.0pp $160

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $119,900 Active 23 DOM
2. 2026-06-21
   days on market $119,900 Active 22 DOM
3. 2026-06-18
   days on market $119,900 Active 20 DOM
4. 2026-06-17
   days on market $119,900 Active 19 DOM
5. 2026-06-16
   days on market $119,900 Active 18 DOM
6. 2026-06-15
   days on market $119,900 Active 17 DOM
7. 2026-06-13
   days on market $119,900 Active 15 DOM
8. 2026-06-12
   days on market $119,900 Active 14 DOM
9. 2026-06-09
   days on market $119,900 Active 11 DOM
10. 2026-06-08
    days on market $119,900 Active 10 DOM
11. 2026-06-07
    days on market $119,900 Active 9 DOM
12. 2026-06-05
    days on market $119,900 Active 7 DOM
13. 2026-06-04
    days on market $119,900 Active 5 DOM
14. 2026-06-02
    days on market $119,900 Active 4 DOM
15. 2026-06-01
    days on market $119,900 Active 3 DOM
16. 2026-05-31
    days on market $119,900 Active 2 DOM
17. 2026-05-29
    listed $119,900 Active
18. 2019-04-26
    soldstatus $32,000

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $1,039 · $87/mo
• Expected delta: +$303/yr (+$25/mo · 41.2%)

ⓘ 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: $14,622
• − Mortgage interest: −$6,716
• − Property taxes: −$736
• − Insurance: −$600
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$3,488
• Taxable income: $743
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $2,493/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: Canby Public School District
• NCES district ID: 2707470
• Math proficiency: 52% ▼ -11.00%
• Reading proficiency: 52% ▼ -16.00%
• Median HH income: $48,782
• Composite: 44.34/100
• National rank: #2823
• State rank: #99 of 301 in MN

Livability — St. Leo

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

Census & demographics

• Census place: St. Leo, MN
• Population (ZIP): 2,185

Population outlook (Yellow Medicine County) Hauer SSP2

• Today (2025): 8,959 people
• By 2030: 8,451 · -5.7%
• By 2040: 7,514 · -16.1%
• By 2050: 6,650 · -25.8%
• By 2075: 5,306 · -40.8%
• By 2100: 4,453 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 24% English 15% Romanian 4%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Yellow Medicine

• 2024 margin: Solid R (+40.6) · D 28.7% · R 69.3% · Other 1.9%
• 2008→2024 swing: -44.9pp toward R · 2008: 4.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+37.0 2016: R+35.4 2012: R+6.3 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.69%
• Current HPI: 153.4077
• 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

+274.7% since first listed

2 events — show timeline

• 2026-05-29 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-26 Sold (Public Records) $32,000 Public Records

Property tax history

+6.0%/yr

Latest (2026): $736 · +8.9% YoY. Source: county tax records.