631 N Cedar St · Luverne, MN 56156

$127,900

4 bd · 2.0 ba · 784 sqft · SingleFamily public records · 114 Days on market

Built 1915 4,225 sqft lot $163/sqft · 16% above area Est $167k · 23% 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Schools +4.8/10.0
• Livability +4.3/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the spacious interior of this home that will pleasantly surprise you! It offers 4 bedrooms and 3 bathrooms thoughtfully arranged across 3 finished floors. Upstairs, there are 2 cozy bedrooms, while the main level includes a primary bedroom, a comfortable living room, a dining area, and a kitchen. The basement features a practical laundry room, a convenient three-quarter bath, and a fourth bedroom with legal egress, ideal for guests or family. The house is well-maintained with vinyl siding, a 100-amp breaker panel, an updated furnace and water heater, and fully insulated sills, providing comfort and peace of mind. It is within walking distance to local schools. The private fenced backyard is perfect for children or pets.

Key facts

• Finished floors
• Spacious interior
• 4,225 sq ft lot

Tags

• SPACIOUS INTERIOR
• FINISHED FLOORS
• PRACTICAL LAUNDRY ROOM
• PRIVATE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $62 ($739/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (12.0% below list).
• Recommended offer: $112k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.4% in Luverne — 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 86/100 on livability (#14 in MN, #455 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Luverne Public School District (rural): math 55% / reading 58% proficiency, ranked #64 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 66 units permitted in Rock County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $884 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Rock County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($116k) 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.
• Current owner paid $57k; list at $128k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,500 (12.0% below list)

Questions for the listing agent

1. It's been on market 114 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 1915 — 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. Schools are B-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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• GRM: 9.5

CMA / ARV

• ARV (median comp): $166,598
• List price: $127,900
• Delta: -23.23%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-16,822
• Equity at exit: $19,070

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-9,671
• Equity at exit: $11,058

Cash invested: $35,812 (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 56156

• Active inventory: 65
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$103 /mo · $1,238/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $62

Break-even live

Break-even rent $1,047

Max offer price $127,900

Occupancy floor 90%

Sensitivity live

Price	-10% $134	-5% $98	+0% $62	+5% $25	+10% $-11
Rent	-10% $-27	-5% $17	+0% $62	+5% $106	+10% $150
Rate	-1.0pp $126	-0.5pp $94	base $62	+0.5pp $28	+1.0pp $-5

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 E Luverne St #327 Luverne, MN	3.0	1.0	1019	$1,125	$1.10	45d	1	0.22mi
109 E Luverne St Luverne, MN	2.0–3.0	1.0	975	$1,125	$1.15	45d	3	0.22mi

Listing history 20 events

1. 2026-06-21
   days on market $127,900 Active 114 DOM
2. 2026-06-21
   days on market $127,900 Active 113 DOM
3. 2026-06-18
   days on market $127,900 Active 111 DOM
4. 2026-06-17
   days on market $127,900 Active 110 DOM
5. 2026-06-16
   days on market $127,900 Active 109 DOM
6. 2026-06-15
   days on market $127,900 Active 108 DOM
7. 2026-06-13
   days on market $127,900 Active 106 DOM
8. 2026-06-12
   days on market $127,900 Active 105 DOM
9. 2026-06-09
   days on market $127,900 Active 102 DOM
10. 2026-06-08
    days on market $127,900 Active 101 DOM
11. 2026-06-07
    days on market $127,900 Active 100 DOM
12. 2026-06-07
    days on market $127,900 Active 99 DOM
13. 2026-06-04
    days on market $127,900 Active 96 DOM
14. 2026-06-02
    days on market $127,900 Active 95 DOM
15. 2026-06-01
    days on market $127,900 Active 94 DOM
16. 2026-05-31
    days on market $127,900 Active 93 DOM
17. 2026-05-31
    days on market $127,900 Active 92 DOM
18. 2026-02-27
    listed $127,900 Active 738-char remark

    Show marketing remark (738 chars)

    Discover the spacious interior of this home that will pleasantly surprise you! It offers 4 bedrooms and 3 bathrooms thoughtfully arranged across 3 finished floors. Upstairs, there are 2 cozy bedrooms, while the main level includes a primary bedroom, a comfortable living room, a dining area, and a kitchen. The basement features a practical laundry room, a convenient three-quarter bath, and a fourth bedroom with legal egress, ideal for guests or family. The house is well-maintained with vinyl siding, a 100-amp breaker panel, an updated furnace and water heater, and fully insulated sills, providing comfort and peace of mind. It is within walking distance to local schools. The private fenced backyard is perfect for children or pets.

19. 2026-02-27
    listed $127,900 Active 738-char remark

    Show marketing remark (738 chars)

    Discover the spacious interior of this home that will pleasantly surprise you! It offers 4 bedrooms and 3 bathrooms thoughtfully arranged across 3 finished floors. Upstairs, there are 2 cozy bedrooms, while the main level includes a primary bedroom, a comfortable living room, a dining area, and a kitchen. The basement features a practical laundry room, a convenient three-quarter bath, and a fourth bedroom with legal egress, ideal for guests or family. The house is well-maintained with vinyl siding, a 100-amp breaker panel, an updated furnace and water heater, and fully insulated sills, providing comfort and peace of mind. It is within walking distance to local schools. The private fenced backyard is perfect for children or pets.

20. 2016-07-26
    soldstatus $57,000

ⓘ 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: $1,238 · $103/mo
• Projected year-2 tax: $1,335 · $111/mo
• Expected delta: +$97/yr (+$8/mo · 7.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 66% 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: $13,500
• − Mortgage interest: −$7,164
• − Property taxes: −$1,238
• − Insurance: −$640
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$3,721
• Taxable loss: −$1,423
• Est. tax savings @ 24.0%: +$341
• After-tax cash flow: $1,080/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: Luverne Public School District
• NCES district ID: 2718330
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $48,225
• Composite: 48.0/100
• National rank: #2198
• State rank: #64 of 301 in MN

Livability — Luverne

• Score: 86/100
• State rank: #14
• US rank: #455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Luverne, MN
• Population (ZIP): 6,398

Population outlook (Rock County) Hauer SSP2

• Today (2025): 9,476 people
• By 2030: 9,326 · -1.6%
• By 2040: 9,006 · -5.0%
• By 2050: 8,662 · -8.6%
• By 2075: 7,973 · -15.9%
• By 2100: 7,033 · -25.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 16% Iranian 14% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Rock

• 2024 margin: Solid R (+39.3) · D 29.6% · R 68.8% · Other 1.6%
• 2008→2024 swing: -25.3pp toward R · 2008: -14.0pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+38.7 2016: R+35.7 2012: R+17.9 2008: R+14.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -189.55%
• Current HPI: 211.0729
• 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

+124.4% since first listed

3 events — show timeline

• 2026-02-27 Listed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-27 Listed $127,900 REALTOR® Association of the Sioux Empire
• 2016-07-26 Sold (Public Records) $57,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,238 · +12.8% YoY. Source: county tax records.