807 Horizon Dr SE · New Prague, MN 56071

$195,000

2 bd · 2.0 ba · 802 sqft · Townhouse public records · 13 Days on market

Built 2004 784 sqft lot $340/mo HOA · 15% of rent

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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 +19.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +6.1/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This move in ready home is located in highly sought after New Prague Villas. New roof and vinyl siding. Great layout with 1/2 bath on the main floor. Open concept breakfast bar combined with living room that features a gas fireplace. Newer flooring and updated white woodwork and trim. Second floor laundry located between the two bedrooms takes the running out of doing laundry. Large master bedroom has a walk-in closet and walk-thru bathroom. Check this one out!

Key facts

• $340 HOA
• Garage
• Built 2004

Property features AI

Finance

• HOA & community: HOA managed by RowCal Management; Monthly HOA fee of $340; HOA covers hazard insurance, lawn care, grounds maintenance, professional management, and snow removal; Association-maintained road; No association amenities listed

Exterior

• Parking: Tuck-under garage with garage door opener; Asphalt parking; 1-car garage (9 x 22)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric service with circuit breakers
• Home design: Attached residential property; Two levels; Slab foundation; Pitched roof (age 8 years or less); Frame construction
• Construction: Frame construction; Pitched roof (age 8 years or less); Slab foundation
• Exterior features: Vinyl exterior; Patio; Zero lot line; Private road with association maintenance

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Exhaust fan; Eat-in kitchen
• Bedrooms: 2 bedrooms (primary and additional bedroom on upper level)
• Bathrooms: 1 full bath and 1 half bath; Primary bath with double sink and walk-through layout; Main floor half bath; upper-level full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Natural woodwork; Primary bedroom walk-in closet; Patio; No basement; Living/dining room layout; Eat-in kitchen; 2nd floor laundry
• Laundry & utility: Washer and dryer included; Laundry closet on upper level; Washer/Dryer hookup; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 7.6% vs local median 3.8% in New Prague — 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 80/100 on livability (#86 in MN, #1,971 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• New Prague Area Schools (town): math 57% / reading 60% proficiency, ranked #36 of 301 in MN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 60 units permitted in Le Sueur County in 2024 (0 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.
• Le Sueur County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $195,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 7.1

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-17,599
• Equity at exit: $29,075

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $3,228
• Equity at exit: $16,860

Cash invested: $54,600 (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 56071

• Home prices YoY: -26.3%
• Active inventory: 92
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$81
• HOA: −$340
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $217

Break-even live

Break-even rent $2,026

Max offer price $195,000

Occupancy floor 86%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Chalupsky Ave SE New Prague, MN	2.0	1.0–2.0	839	$2,300	$2.74	2d	1	0.10mi

HOA detail

• Monthly dues: $340 · $4,080/yr
• Likely covers: gas

Listing history 9 events

1. 2026-06-17
   status $195,000 Pending 13 DOM
2. 2026-06-17
   days on market $195,000 Contingent - Subject to Statutory Rescission 13 DOM
3. 2026-06-16
   days on market $195,000 Contingent - Subject to Statutory Rescission 12 DOM
4. 2026-06-15
   days on market $195,000 Contingent - Subject to Statutory Rescission 11 DOM
5. 2026-06-13
   days on market $195,000 Contingent - Subject to Statutory Rescission 9 DOM
6. 2026-06-13
   days on market $195,000 Contingent - Subject to Statutory Rescission 8 DOM
7. 2026-06-09
   days on market $195,000 Contingent - Subject to Statutory Rescission 5 DOM
8. 2026-06-08
   statusdays on market $195,000 Contingent - Subject to Statutory Rescission 4 DOM
9. 2026-06-07
   listed $195,000 Active 3 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: $1,876 · $156/mo
• Projected year-2 tax: $2,030 · $169/mo
• Expected delta: +$154/yr (+$13/mo · 8.2%)

ⓘ 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 ≥99°F today · 15 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: $27,600
• − Mortgage interest: −$10,923
• − Property taxes: −$1,876
• − Insurance: −$975
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − HOA: −$4,080
• − Depreciation: −$5,673
• Taxable loss: −$343
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $2,684/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: New Prague Area Schools
• NCES district ID: 2723430
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 60% ▼ -10.00%
• Median HH income: $80,742
• Composite: 52.77/100
• National rank: #1543
• State rank: #36 of 301 in MN

Livability — New Prague

• Score: 80/100
• State rank: #86
• US rank: #1971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Prague, MN
• City population: 13,015
• Population (ZIP): 13,015

Population outlook (Le Sueur County) Hauer SSP2

• Today (2025): 27,622 people
• By 2030: 27,346 · -1.0%
• By 2040: 26,451 · -4.2%
• By 2050: 25,299 · -8.4%
• By 2075: 23,188 · -16.1%
• By 2100: 21,103 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 10% Romanian 3% Scottish 2%
• Foreign-born: 2%
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Le Sueur

• 2024 margin: Solid R (+33.7) · D 32.4% · R 66.0% · Other 1.6%
• 2008→2024 swing: -29.4pp toward R · 2008: -4.3pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+30.3 2016: R+30.7 2012: R+6.5 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.45%
• Current HPI: 275.353
• 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

+56.1% since first listed

18 events — show timeline

• 2026-06-04 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-22 Listed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-16 Sold (Public Records) $176,000 Public Records
• 2022-09-16 Sold (MLS) $176,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-12 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-22 Sold (Public Records) $151,500 Public Records
• 2020-07-22 Sold (MLS) $151,500 RASM
• 2020-07-22 Sold (MLS) $151,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-05 Listed $150,000 RASM
• 2020-06-05 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-29 Sold (Public Records) $119,000 Public Records
• 2017-06-29 Sold (MLS) $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-13 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-07 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2025): $1,876 · -0.7% YoY. Source: county tax records.