409 N Silver St · Wykoff, MN 55990

$160,000

3 bd · 2.0 ba · 1,120 sqft · SingleFamily · 36 Days on market

Built 2020 0.31 ac lot

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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).

• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks

This is a newer manufactured home built by Schult Homes, sitting on its own large private city lot. The home offers updated finishes, a large primary bedroom with a private primary bath and walk-in closet. The lot borders a farm field with pretty views and has ample green space.

Key facts

• Private city lot
• Ample green space
• Walk-in closet

Tags

• PRIVATE CITY LOT
• WALK-IN CLOSET
• BORDERS A FARM FIELD
• AMPLE GREEN SPACE

Property features AI

Finance

• Other: Lot approximately 0.309 acres (dimensions ~90 x 150)

Exterior

• Parking: Gravel parking
• Utilities: City water (connected); City sewer (connected); Electric and natural gas service
• Home design: Residential manufactured home; One level; Entry level: One; Pillar/post/pier foundation
• Construction: Asphalt roof (age 8 years or less); Built on a 14x80 foundation footprint
• Exterior features: Vinyl exterior; Road frontage on a city street; Publicly maintained road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Three bedrooms (all on one level; primary suite on main floor)
• Bathrooms: Two full bathrooms (including a full main-floor primary bath and a private primary bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Microwave; Range; Refrigerator; All living facilities on one level; Main floor primary bedroom suite; Main floor full bath; Private primary bathroom
• Laundry & utility: Main level laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (19.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (29.7% below list).
• Recommended offer: $113k (29.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#492 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, amenities F, commute F.
• Kingsland Public School District (rural): math 34% / reading 56% proficiency, ranked #178 of 301 in MN (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 65 units permitted in Fillmore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $9k appreciation (5.9% local appreciation)).
• Fillmore County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,545 (29.7% 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. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.70% ✗
• Cap rate: 4.67%
• Cash-on-cash: -5.80%
• DSCR: 0.74
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.70×
• Total profit: $31,203
• Equity at exit: $99,293

10-year hold

• IRR: 11.5%
• Equity multiple: 3.30×
• Total profit: $102,946
• Equity at exit: $178,959

Cash invested: $44,800 (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 55990

• Home prices YoY: 2.5%
• Active inventory: 8
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-217

Break-even live

Break-even rent $1,400

Max offer price $128,655

Occupancy floor —

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-09
   statusdays on market $160,000 Pending 36 DOM
2. 2026-06-08
   days on market $160,000 Contingent - Inspection 35 DOM
3. 2026-06-07
   days on market $160,000 Contingent - Inspection 34 DOM
4. 2026-06-07
   days on market $160,000 Contingent - Inspection 33 DOM
5. 2026-06-04
   days on market $160,000 Contingent - Inspection 30 DOM
6. 2026-06-02
   days on market $160,000 Contingent - Inspection 29 DOM
7. 2026-06-01
   status $160,000 Contingent - Inspection 28 DOM
8. 2026-06-01
   days on market $160,000 Active 28 DOM
9. 2026-05-31
   days on market $160,000 Active 27 DOM
10. 2026-05-31
    days on market $160,000 Active 26 DOM
11. 2026-05-04
    listed $160,000 Active 281-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,505
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$4,655
• Taxable loss: −$5,472
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $-1,286/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: Kingsland Public School District
• NCES district ID: 2700007
• Math proficiency: 34% ▼ -14.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $51,955
• Composite: 38.74/100
• National rank: #4126
• State rank: #178 of 301 in MN

Livability — Wykoff

• Score: 66/100
• State rank: #492
• US rank: #11898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wykoff, MN
• Population (ZIP): 895

Population outlook (Fillmore County) Hauer SSP2

• Today (2025): 20,318 people
• By 2030: 19,765 · -2.7%
• By 2040: 18,559 · -8.7%
• By 2050: 17,194 · -15.4%
• By 2075: 14,253 · -29.9%
• By 2100: 10,645 · -47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Portuguese 24% Iranian 6% Slovak 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Fillmore

• 2024 margin: Strong R (+25.5) · D 36.4% · R 61.9% · Other 1.7%
• 2008→2024 swing: -33.8pp toward R · 2008: 8.3pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.7 2016: R+21.9 2012: D+7.4 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.87%
• Current HPI: 244.4669
• 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

3 events — show timeline

• 2026-06-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid