55997 132nd St · Sterling, MN 56065

$89,900

4 bd · 1.0 ba · 1,804 sqft · SingleFamily public records · 339 Days on market

Built 1896 3.21 ac lot $50/sqft · 60% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3.21 acres with a 32x48 barn built in 1940. This lot has potential to be a future hobby farm. House will either need extensive work or will need to be torn down. Septic was installed in 2006. Well most likely will need repair or replacing. Power can be restored back to the building site. Property is being sold AS IS.

Key facts

• Septic installed
• 3.21 acres
• Hobby farm

Tags

• 3.21 ACRES
• 32X48 BARN
• HOBBY FARM
• SEPTIC INSTALLED
• POWER RESTORED

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Maple River School District (rural): math 58% / reading 57% proficiency, ranked #57 of 301 in MN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maple River West Elementary (math 72% / reading 67%); Maple River Secondary (math 52% / reading 55%, grade C-, #104 of 471 statewide, top 22%, 495 students, 37% FRL).
• Market conditions: 14 active listings in the ZIP; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 339 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 339 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 1896 — 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: 1.28% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.74%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

• ARV (median comp): $331,321
• List price: $89,900
• Delta: -72.87%
• 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: 7.9%
• Equity multiple: 1.31×
• Total profit: $7,773
• Equity at exit: $13,404

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $35,475
• Equity at exit: $7,773

Cash invested: $25,172 (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 56065

• Home prices YoY: -4.7%
• Active inventory: 14
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$49 /mo · $588/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $351

Break-even live

Break-even rent $706

Max offer price $89,900

Occupancy floor 64%

Sensitivity live

Price	-10% $402	-5% $377	+0% $351	+5% $326	+10% $300
Rent	-10% $260	-5% $306	+0% $351	+5% $397	+10% $442
Rate	-1.0pp $396	-0.5pp $374	base $351	+0.5pp $328	+1.0pp $304

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $89,900 Active 339 DOM
2. 2026-06-19
   days on market $89,900 Active 337 DOM
3. 2026-06-18
   days on market $89,900 Active 336 DOM
4. 2026-06-17
   days on market $89,900 Active 335 DOM
5. 2026-06-16
   days on market $89,900 Active 334 DOM
6. 2026-06-15
   days on market $89,900 Active 333 DOM
7. 2026-06-14
   days on market $89,900 Active 331 DOM
8. 2026-06-13
   days on market $89,900 Active 330 DOM
9. 2026-06-10
   days on market $89,900 Active 328 DOM
10. 2026-06-09
    days on market $89,900 Active 327 DOM
11. 2026-06-08
    days on market $89,900 Active 326 DOM
12. 2026-06-07
    days on market $89,900 Active 325 DOM
13. 2026-06-05
    days on market $89,900 Active 322 DOM
14. 2026-06-02
    days on market $89,900 Active 320 DOM
15. 2026-06-01
    days on market $89,900 Active 319 DOM
16. 2026-05-31
    days on market $89,900 Active 318 DOM
17. 2026-05-30
    days on market $89,900 Active 317 DOM
18. 2026-01-08
    status Active 320-char remark

    Show marketing remark (320 chars)

    3.21 acres with a 32x48 barn built in 1940. This lot has potential to be a future hobby farm. House will either need extensive work or will need to be torn down. Septic was installed in 2006. Well most likely will need repair or replacing. Power can be restored back to the building site. Property is being sold AS IS.

19. 2026-01-01
    historical 320-char remark

    Show marketing remark (320 chars)

    3.21 acres with a 32x48 barn built in 1940. This lot has potential to be a future hobby farm. House will either need extensive work or will need to be torn down. Septic was installed in 2006. Well most likely will need repair or replacing. Power can be restored back to the building site. Property is being sold AS IS.

20. 2025-07-09
    listed $89,900 Active 320-char remark

    Show marketing remark (320 chars)

    3.21 acres with a 32x48 barn built in 1940. This lot has potential to be a future hobby farm. House will either need extensive work or will need to be torn down. Septic was installed in 2006. Well most likely will need repair or replacing. Power can be restored back to the building site. Property is being sold AS IS.

ⓘ 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: $588 · $49/mo
• Projected year-2 tax: $797 · $66/mo
• Expected delta: +$209/yr (+$17/mo · 35.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,808
• − Mortgage interest: −$5,036
• − Property taxes: −$588
• − Insurance: −$450
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$2,615
• Taxable income: $2,910
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $3,515/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: Maple River School District
• NCES district ID: 2700006
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $54,953
• Composite: 49.49/100
• National rank: #1998
• State rank: #57 of 301 in MN

Livability — Sterling

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

Census & demographics

• Population (ZIP): 2,828

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 11% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 14% Iranian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.13%
• Current HPI: 207.3342
• 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

• 2026-01-08 Relisted — RASM
• 2026-01-01 Delisted — RASM
• 2025-07-09 Listed $89,900 RASM

Property tax history

+1.2%/yr

Latest (2025): $588 · -13.3% YoY. Source: county tax records.