475 W 1st St · Rush City, MN 55069

$239,999

2 bd · 2.0 ba · 1,322 sqft · SingleFamily public records · 63 Days on market

Built 1972 0.26 ac lot $182/sqft · 24% below area Est $317k · 24% under

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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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.6/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0

Listing remarks MLS

This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

Key facts

• Newer furnace
• Fresh paint
• Newer appliances

Tags

• NEWER WINDOWS
• NEWER FURNACE
• NEWER WATER HEATER
• NEWER APPLIANCES
• FRESH PAINT
• OVERSIZED LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#355 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, amenities F, commute F.
• Rush City Public School District (rural): math 37% / reading 47% proficiency, ranked #195 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 362 units permitted in Chisago County in 2024 (121 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Chisago County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $225,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 7.9

CMA / ARV

• ARV (median comp): $317,050
• List price: $239,999
• Delta: -24.30%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-11,211
• Equity at exit: $35,785

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $25,841
• Equity at exit: $20,751

Cash invested: $67,200 (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 55069

• Home prices YoY: -1.7%
• Active inventory: 49
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,543 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$216 /mo · $2,586/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $435

Break-even live

Break-even rent $1,993

Max offer price $239,999

Occupancy floor 78%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-16
   status $239,999 Pending 63 DOM
2. 2026-06-15
   days on market $239,999 Contingent - Inspection 63 DOM
3. 2026-06-13
   days on market $239,999 Contingent - Inspection 61 DOM
4. 2026-06-12
   days on market $239,999 Contingent - Inspection 60 DOM
5. 2026-06-09
   days on market $239,999 Contingent - Inspection 57 DOM
6. 2026-06-08
   statusdays on market $239,999 Contingent - Inspection 56 DOM
7. 2026-06-07
   days on market $239,999 Active 55 DOM
8. 2026-06-05
   days on market $239,999 Active 53 DOM
9. 2026-06-04
   days on market $239,999 Active 51 DOM
10. 2026-06-02
    days on market $239,999 Active 50 DOM
11. 2026-06-01
    days on market $239,999 Active 49 DOM
12. 2026-05-31
    days on market $239,999 Active 48 DOM
13. 2026-05-31
    days on market $239,999 Active 47 DOM
14. 2026-05-18
    price $239,999 676-char remark

    Show marketing remark (676 chars)

    This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

15. 2026-04-29
    status Active 676-char remark

    Show marketing remark (676 chars)

    This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

16. 2026-04-11
    status Pending 676-char remark

    Show marketing remark (676 chars)

    This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

17. 2026-04-05
    historical Contingent - Inspection 676-char remark

    Show marketing remark (676 chars)

    This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

18. 2026-03-26
    listed $249,900 Active 676-char remark

    Show marketing remark (676 chars)

    This charming 2-bedroom, 2-bathroom home is packed with updates and ready for you to move right in. Enjoy peace of mind with newer windows, furnace, water heater, and appliances, along with fresh paint throughout both the interior and exterior. The property features a spacious, oversized lot—perfect for relaxing evenings around a fire. A 14x12 storage shed in the backyard provides plenty of extra space for tools and outdoor equipment. Conveniently located near schools, parks, shopping, and a local swimming pool, this home also offers quick access to I-35, making it ideal for commuters. A new sewer line installed in fall 2021 adds even more value and reliability.

19. 2022-06-14
    historical 302-char remark

    Show marketing remark (302 chars)

    Enjoy evening fires in this oversized lot, close to schools and town. This home offers newer windows, newer water heater, all new appliances, new furnace. New sewer lines from the main to house in fall of 2021. Fresh paint throughout the inside and full exterior. A 14x12 storage shed in the back yard.

20. 2022-06-10
    soldstatus $220,000 Sold 302-char remark

    Show marketing remark (302 chars)

    Enjoy evening fires in this oversized lot, close to schools and town. This home offers newer windows, newer water heater, all new appliances, new furnace. New sewer lines from the main to house in fall of 2021. Fresh paint throughout the inside and full exterior. A 14x12 storage shed in the back yard.

21. 2022-06-10
    soldstatus $220,000

    Show marketing remark (302 chars)

    Enjoy evening fires in this oversized lot, close to schools and town. This home offers newer windows, newer water heater, all new appliances, new furnace. New sewer lines from the main to house in fall of 2021. Fresh paint throughout the inside and full exterior. A 14x12 storage shed in the back yard.

22. 2022-04-23
    status Pending 302-char remark

    Show marketing remark (302 chars)

    Enjoy evening fires in this oversized lot, close to schools and town. This home offers newer windows, newer water heater, all new appliances, new furnace. New sewer lines from the main to house in fall of 2021. Fresh paint throughout the inside and full exterior. A 14x12 storage shed in the back yard.

23. 2022-04-20
    listed $225,000 Active 302-char remark

    Show marketing remark (302 chars)

    Enjoy evening fires in this oversized lot, close to schools and town. This home offers newer windows, newer water heater, all new appliances, new furnace. New sewer lines from the main to house in fall of 2021. Fresh paint throughout the inside and full exterior. A 14x12 storage shed in the back yard.

24. 2019-10-22
    status Pending
25. 2019-10-17
    soldstatus $136,350 Sold
26. 2019-10-17
    soldstatus $136,350
27. 2019-09-17
    historical Contingent - Inspection
28. 2019-09-09
    listed $135,000 Active
29. 2005-08-23
    soldstatus $140,000
30. 2005-08-19
    soldstatus $140,000
31. 2005-07-12
    historical
32. 2005-06-27
    listed $180,000

ⓘ 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: $2,586 · $216/mo
• Projected year-2 tax: $2,637 · $220/mo
• Expected delta: +$51/yr (+$4/mo · 2.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,515
• − Mortgage interest: −$13,444
• − Property taxes: −$2,586
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,441
• − Management: −$2,441
• − Depreciation: −$6,982
• Taxable income: $1,421
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $4,877/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: Rush City Public School District
• NCES district ID: 2732550
• Math proficiency: 37% ▼ -26.00%
• Reading proficiency: 47% ▼ -20.00%
• Median HH income: $60,045
• Composite: 37.08/100
• National rank: #4499
• State rank: #195 of 301 in MN

Livability — Rush City

• Score: 69/100
• State rank: #355
• US rank: #8328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rush City, MN
• Population (ZIP): 5,936

Population outlook (Chisago County) Hauer SSP2

• Today (2025): 55,187 people
• By 2030: 55,036 · -0.3%
• By 2040: 53,293 · -3.4%
• By 2050: 49,157 · -10.9%
• By 2075: 38,399 · -30.4%
• By 2100: 24,646 · -55.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 3% Asian 2% Native American 1%
• Common ancestry: Portuguese 10% Romanian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Chisago

• 2024 margin: Solid R (+31.4) · D 33.5% · R 64.9% · Other 1.6%
• 2008→2024 swing: -21.2pp toward R · 2008: -10.3pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.2 2016: R+30.5 2012: R+12.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.49%
• Current HPI: 428.9296
• 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

+33.3% since first listed

19 events — show timeline

• 2026-05-18 Price Changed $239,999 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-10 Sold (Public Records) $220,000 Public Records
• 2022-06-10 Sold (MLS) $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-20 Listed $225,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-17 Sold (Public Records) $136,350 Public Records
• 2019-10-17 Sold (MLS) $136,350 NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-09 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-23 Sold (Public Records) $140,000 Public Records
• 2005-08-19 Sold (MLS) $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-27 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2025): $2,586 · +0.8% YoY. Source: county tax records.