818 Park Avenue North · St. James, MN 56081

$80,000

2 bd · 1.0 ba · 894 sqft · SingleFamily public records · 10 Days on market

Built 1910 0.25 ac lot Est $91k · 12% under

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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 +23.6/30.0
• ARV discount +13.0/15.0
• Appreciation +9.5/10.0
• DSCR +7.6/10.0
• 1% rule +5.3/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This home features a spacious kitchen & eating area, nice sized living room, two bedrooms, remodeled 3/4 bathroom, first floor utility, partial basement, Amana forced air furnace, updated 100-amp CB electrical service, some newer Thermopane windows, and vinyl siding. This home is located on a very large 108' x 150' lot and is priced to sell with payments similar to rent. Must see to appreciate!

Key facts

• First floor utility
• Spacious kitchen
• Partial basement

Tags

• SPACIOUS KITCHEN
• REMODELED 3/4 BATHROOM
• FIRST FLOOR UTILITY
• PARTIAL BASEMENT
• AMANA FORCED AIR FURNACE
• NEWER THERMOPANE WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($825 rent vs $80k).
• Cap rate 8.5% vs local median 3.5% in St. James — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. James Public School District (town): math 36% / reading 43% proficiency, ranked #226 of 301 in MN (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Watonwan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($553 loan paydown + $7k appreciation (9.0% local appreciation)).
• Watonwan County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $13k; list at $80k implies a 515% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.06%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $91,188
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 Park Avenue North	0.00mi	2/1.0	864 (-3%)	1mo	$81,500	$94	94
910 N 5th St	0.58mi	3/1.0 (+1)	934 (+4%)	1mo	$114,900	$123	59
913 N Weston Ave	0.29mi	2/1.0	1,028 (+15%)	4mo	$105,000	$102	58
1215 N 9th Avenue Ave	0.08mi	2/1.0	1,006 (+12%)	23mo	$95,000	$94	56
217 S 4th Street St	0.73mi	2/1.0	940 (+5%)	14mo	$95,200	$101	46
809 N 9th Avenue Ave	0.35mi	3/2.0 (+1)	812 (-9%)	21mo	$130,000	$160	42
1003 5th Avenue South Ave	0.52mi	2/—	1,012 (+13%)	22mo	$120,000	$119	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.14×
• Total profit: $47,938
• Equity at exit: $66,548

10-year hold

• IRR: 24.9%
• Equity multiple: 6.92×
• Total profit: $132,524
• Equity at exit: $138,015

Cash invested: $22,400 (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 56081

• Home prices YoY: 3.2%
• Active inventory: 32
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $825 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $150

Break-even live

Break-even rent $635

Max offer price $80,000

Occupancy floor 77%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1212 Heckman Ct Unit 1 St James, MN	1.0	1.0	1100	$825	$0.75	44d	1	1.23mi

Listing history 4 events

1. 2026-03-30
   status Pending
2. 2026-03-20
   listed $80,000 Active
3. 2003-07-16
   soldstatus $13,000
4. 1992-05-13
   soldstatus $11,265

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $739 · $62/mo
• Expected delta: +$157/yr (+$13/mo · 27.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $9,900
• − Mortgage interest: −$4,481
• − Property taxes: −$582
• − Insurance: −$400
• − Repairs & maintenance: −$792
• − Management: −$792
• − Depreciation: −$2,327
• Taxable income: $525
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $1,679/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: St. James Public School District
• NCES district ID: 2733600
• Math proficiency: 36% ▼ -20.00%
• Reading proficiency: 43% ▼ -14.00%
• Median HH income: $48,256
• Composite: 33.89/100
• National rank: #5345
• State rank: #226 of 301 in MN

Livability — St. James

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

Census & demographics

• Census place: St. James, MN
• City population: 6,092
• Population (ZIP): 6,092

Population outlook (Watonwan County) Hauer SSP2

• Today (2025): 10,579 people
• By 2030: 10,354 · -2.1%
• By 2040: 9,923 · -6.2%
• By 2050: 9,558 · -9.7%
• By 2075: 9,236 · -12.7%
• By 2100: 8,812 · -16.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 35% Two or more races 9%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Portuguese 15% Italian 1% Romanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 71% English-only · Spanish 29%

Political lean MEDSL · Watonwan

• 2024 margin: Strong R (+27.8) · D 35.1% · R 62.9% · Other 2.0%
• 2008→2024 swing: -28.5pp toward R · 2008: 0.7pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+21.5 2016: R+19.2 2012: R+0.5 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.04%
• Current HPI: 292.2265
• 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

+610.2% since first listed

4 events — show timeline

• 2026-03-30 Pending — RASM
• 2026-03-20 Listed $80,000 RASM
• 2003-07-16 Sold (Public Records) $13,000 Public Records
• 1992-05-13 Sold (Public Records) $11,265 Public Records

Property tax history

+7.2%/yr

Latest (2025): $582 · +8.6% YoY. Source: county tax records.