151 7th St N · Albany, MN 56307

$75,000

2 bd · 1.0 ba · 4,352 sqft · SingleFamily · 50 Days on market

Built 1950 6,969 sqft lot

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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 +9.2/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to invest in a unique and affordable property! This former commercial building is finished on both levels with open-concept layouts, offering endless potential—perfect for starting a business, creating residential space, or developing rental units. Building has been vacant for a while, there is a musty smell.

Key facts

• Open-concept layouts
• Endless potential
• 6,969 sq ft lot

Tags

• FORMER COMMERCIAL BUILDING
• OPEN-CONCEPT LAYOUTS
• ENDLESS POTENTIAL

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: City water (connected); City sewer (connected); Natural gas
• Home design: Residential property; One story; Entry level: Main; Flat roof
• Construction: Poured concrete foundation
• Exterior features: Stucco exterior; Corner lot; City street frontage

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: One half bath on main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Main floor half bath; Living room on main level; Lower-level family room; Utility room on lower level
• Laundry & utility: Lower-level utility room (17x16)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#208 in MN, #4,381 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Albany Public School District (rural): math 57% / reading 58% proficiency, ranked #51 of 301 in MN (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 22 active listings in the ZIP; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.42% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.60%
• DSCR: 1.83
• GRM: 5.9

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: 10.4%
• Equity multiple: 1.41×
• Total profit: $8,594
• Equity at exit: $11,183

10-year hold

• IRR: 19.5%
• Equity multiple: 2.63×
• Total profit: $34,244
• Equity at exit: $6,485

Cash invested: $21,000 (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 56307

• Home prices YoY: -7.5%
• Active inventory: 22
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $325

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 65%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $75,000 Active 50 DOM
2. 2026-06-17
   days on market $75,000 Active 49 DOM
3. 2026-06-16
   days on market $75,000 Active 48 DOM
4. 2026-06-15
   days on market $75,000 Active 47 DOM
5. 2026-06-13
   days on market $75,000 Active 45 DOM
6. 2026-06-12
   days on market $75,000 Active 44 DOM
7. 2026-06-09
   days on market $75,000 Active 41 DOM
8. 2026-06-08
   days on market $75,000 Active 40 DOM
9. 2026-06-07
   days on market $75,000 Active 39 DOM
10. 2026-06-05
    days on market $75,000 Active 37 DOM
11. 2026-06-04
    days on market $75,000 Active 35 DOM
12. 2026-06-02
    days on market $75,000 Active 34 DOM
13. 2026-06-01
    days on market $75,000 Active 33 DOM
14. 2026-05-31
    days on market $75,000 Active 32 DOM
15. 2026-05-31
    days on market $75,000 Active 31 DOM
16. 2026-04-28
    listed $75,000 Active 334-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,817
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$2,182
• Taxable income: $2,884
• Est. tax owed @ 24.0%: −$692
• After-tax cash flow: $3,214/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: Albany Public School District
• NCES district ID: 2702930
• Math proficiency: 57% ▼ -14.00%
• Reading proficiency: 58% ▼ -11.00%
• Median HH income: $63,768
• Composite: 50.32/100
• National rank: #1881
• State rank: #51 of 301 in MN

Livability — Albany

• Score: 74/100
• State rank: #208
• US rank: #4381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albany, MN
• Population (ZIP): 5,227

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 8% Romanian 7% Iranian 3%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 1% Korean 1% German/W. Germanic 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.29%
• Current HPI: 400.87
• 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

1 event — show timeline

• 2026-04-28 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid