821 3rd Ave · Madison, MN 56256

$109,900

3 bd · 1.0 ba · 1,141 sqft · Other · 364 Days on market

Built 1903 7,013 sqft 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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

Key facts

• Near hospital
• Century old home
• Open stair case

Tags

• CENTURY OLD HOME
• NEAR HOSPITAL
• FULLY FURNISHED
• HARD TO FIND WOOD WORK
• HARDWOOD FLOORS
• OPEN STAIR CASE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#175 in MN, #3,796 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Lac Qui Parle Valley School District (rural): math 44% / reading 44% proficiency, ranked #193 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Appleton Elementary (math 32% / reading 22%, grade F, #703 of 857 statewide, top 84%, 206 students, 72% FRL); Lac Qui Parle Valley Middle School (math 47% / reading 52%, grade C, #81 of 258 statewide, top 32%, 125 students, 62% FRL); Lac Qui Parle Valley Secondary (math 37% / reading 47%, grade F, #222 of 471 statewide, top 50%, 334 students, 52% FRL) — zoned schools average 62% FRL vs 30% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 9 units permitted in Lac qui Parle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lac qui Parle County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 364 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $40k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $110k implies a 450% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 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 1903 — 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: 1.04% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.0

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-8,852
• Equity at exit: $16,386

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $3,873
• Equity at exit: $9,502

Cash invested: $30,772 (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 56256

• Home prices YoY: -10.3%
• Active inventory: 17
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $140

Break-even live

Break-even rent $962

Max offer price $109,900

Occupancy floor 83%

Sensitivity live

Price	-10% $203	-5% $171	+0% $140	+5% $109	+10% $78
Rent	-10% $50	-5% $95	+0% $140	+5% $185	+10% $230
Rate	-1.0pp $196	-0.5pp $168	base $140	+0.5pp $112	+1.0pp $83

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-17
   days on market $109,900 Active 364 DOM
2. 2026-06-16
   days on market $109,900 Active 363 DOM
3. 2026-06-15
   days on market $109,900 Active 362 DOM
4. 2026-06-13
   days on market $109,900 Active 360 DOM
5. 2026-06-12
   days on market $109,900 Active 359 DOM
6. 2026-06-09
   days on market $109,900 Active 356 DOM
7. 2026-06-08
   days on market $109,900 Active 355 DOM
8. 2026-06-07
   days on market $109,900 Active 354 DOM
9. 2026-06-07
   days on market $109,900 Active 353 DOM
10. 2026-06-04
    days on market $109,900 Active 350 DOM
11. 2026-06-02
    days on market $109,900 Active 349 DOM
12. 2026-06-01
    days on market $109,900 Active 348 DOM
13. 2026-05-31
    days on market $109,900 Active 347 DOM
14. 2026-05-31
    days on market $109,900 Active 346 DOM
15. 2026-05-13
    price $109,900 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

16. 2026-03-11
    price $114,500 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

17. 2026-02-13
    price $119,900 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

18. 2025-12-12
    price $125,000 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

19. 2025-09-03
    price $127,900 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

20. 2025-07-29
    price $129,500 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

21. 2025-07-07
    price $139,900 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

22. 2025-06-17
    listed $149,900 Active 552-char remark

    Show marketing remark (552 chars)

    THIS IS A BEAUTIFUL CENTURY OLD HOME LOCATED NEAR HOSPITAL. THE HOME HAS SUCH BEAUTIFUL FEATURES IT IS CLEAN AND READY FOR YOU TO MAKE IT YOUR OWN! AS YOUR OWN HOME, INTERIOR FURNISHINGS WILL BE NEGOTIABLE, THIS HOME OFFERS 3 BEDROOMS AND 1 BATHROOM. BEAUTIFUL HARD TO FIND WOOD WORK!! HARDWOOD FLOORS UNDER CARPET. OPEN STAIR CASE. NEW WATER HEATER. OFFERS CENTRAL AIR AND FORCED AIR FURNACE. SUPER SWEET FRONT ENTRY PORCH THAT LETS IN THE LIGHT CAN BE USED 3 SEASONS. ALL WINDOWS UPSTAIRS ARE NEW AND CAN BE CLEANED FROM THE INTERIOR. CALL TO VIEW!

23. 2019-02-02
    historical 220-char remark

    Show marketing remark (220 chars)

    This well maintained home has so much character. Original woodwork throughout the home. Beautiful stained glass windows add to this classic home. Back yard is waiting for you to play or entertain or maybe add a garage.

24. 2017-12-01
    soldstatus $20,000 220-char remark

    Show marketing remark (220 chars)

    This well maintained home has so much character. Original woodwork throughout the home. Beautiful stained glass windows add to this classic home. Back yard is waiting for you to play or entertain or maybe add a garage.

25. 2017-06-27
    listed $29,900 220-char remark

    Show marketing remark (220 chars)

    This well maintained home has so much character. Original woodwork throughout the home. Beautiful stained glass windows add to this classic home. Back yard is waiting for you to play or entertain or maybe add a garage.

ⓘ 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: $1,650 · $138/mo
• Projected year-2 tax: $1,650 · $138/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $13,671
• − Mortgage interest: −$6,156
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$3,197
• Taxable loss: −$69
• Est. tax savings @ 24.0%: +$17
• After-tax cash flow: $1,701/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: Lac Qui Parle Valley School District
• NCES district ID: 2700125
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $44,760
• Composite: 37.32/100
• National rank: #4444
• State rank: #193 of 301 in MN

Livability — Madison

• Score: 76/100
• State rank: #175
• US rank: #3796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, MN
• Population (ZIP): 2,352

Population outlook (Lac qui Parle County) Hauer SSP2

• Today (2025): 6,291 people
• By 2030: 6,021 · -4.3%
• By 2040: 5,517 · -12.3%
• By 2050: 5,094 · -19.0%
• By 2075: 4,640 · -26.2%
• By 2100: 4,173 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97%
• Common ancestry: Portuguese 35% Iranian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Lac qui Parle

• 2024 margin: Solid R (+32.2) · D 32.9% · R 65.2% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: 5.9pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.8 2016: R+25.9 2012: D+0.9 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.74%
• Current HPI: 189.1868
• 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

+267.6% since first listed

11 events — show timeline

• 2026-05-13 Price Changed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $114,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-13 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-29 Price Changed $129,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-07 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-17 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-01 Sold (MLS) $20,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-27 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.4%/yr

Latest (2026): $1,650 · +4.3% YoY. Source: county tax records.