1009 5th Ave NW · Austin, MN 55912

$68,900

3 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 14 Days on market

Built 1921 6,098 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Duplex in NE Austin. Investment property. Live in one unit, rent out the other, or rent out both units.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1921

Property features AI

Finance

• Financial info: Tax amount approximately $1,725 (2025)

Exterior

• Parking: 1-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One and one-half stories; Main living on the main level; Above-grade finished area 1,015
• Construction: Other roof; Other foundation
• Exterior features: Other exterior features

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; Central air

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Cap rate 15.9% vs local median 4.5% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $476 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y ago 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 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,900

Questions for the listing agent

1. Built in 1921 — 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: 1.90% ✓
• Cap rate: 15.93%
• Cash-on-cash: 34.44%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 2.61×
• Total profit: $31,040
• Equity at exit: $10,273

10-year hold

• IRR: 44.8%
• Equity multiple: 6.39×
• Total profit: $104,030
• Equity at exit: $5,957

Cash invested: $19,292 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 188
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,310 high
• Mortgage (P&I): −$361
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $554

Break-even live

Break-even rent $609

Max offer price $68,900

Occupancy floor 53%

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 11th St NW Austin, MN	2.0	2.0	925	$1,300	$1.41	43d	1	0.11mi
600 14th St NW Apt 6 Austin, MN	2.0	1.0	700	$995	$1.42	43d	1	0.30mi
900 14th St NW Austin, MN	2.0	1.0	518	$1,050	$2.03	43d	18	0.39mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,514	$2.56	43d	96	0.56mi
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	43d	1	0.61mi
202 11th Ave NW Unit 602 Austin, MN	2.0	1.0	1000	$950	$0.95	43d	1	0.69mi
1310 21st Ave NW Austin, MN	2.0	1.0	685	$1,467	$2.14	43d	5	1.25mi
800 8th Ave SE Austin, MN	3.0	1.0	842	$1,600	$1.90	43d	1	1.35mi
1204 1st Ave NE Austin, MN	3.0	2.0	1200	$1,600	$1.33	43d	1	1.47mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $68,900 Pending 14 DOM
2. 2026-06-05
   days on market $68,900 Active 13 DOM
3. 2026-06-02
   days on market $68,900 Active 11 DOM
4. 2026-06-01
   days on market $68,900 Active 10 DOM
5. 2026-05-31
   days on market $68,900 Active 9 DOM
6. 2026-05-30
   days on market $68,900 Active 8 DOM
7. 2026-05-22
   listed $68,900 Active
8. 2007-03-30
   soldstatus $70,785 103-char remark

   Show marketing remark (103 chars)

   Duplex in NE Austin. Investment property. Live in one unit, rent out the other, or rent out both units.

9. 2006-11-22
   listed $70,535 103-char remark

   Show marketing remark (103 chars)

   Duplex in NE Austin. Investment property. Live in one unit, rent out the other, or rent out both units.

10. 2006-05-31
    soldstatus $56,500 164-char remark

    Show marketing remark (164 chars)

    Nice 3+ bedroom home, original oak woodwork with lead glass bookcases. Neat house with newer high efficiency forced air furnace and central air. Shower in basement.

11. 2006-05-26
    soldstatus $56,500
12. 2006-01-09
    listed $59,900 164-char remark

    Show marketing remark (164 chars)

    Nice 3+ bedroom home, original oak woodwork with lead glass bookcases. Neat house with newer high efficiency forced air furnace and central air. Shower in basement.

13. 2005-10-14
    listed $69,900
14. 1999-08-03
    soldstatus $47,000
15. 1999-04-19
    listed $49,900

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $1,094 · $91/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 1/10 Low 7 d/yr ≥98°F today · 16 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: $15,718
• − Mortgage interest: −$3,859
• − Property taxes: −$1,094
• − Insurance: −$344
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − Depreciation: −$2,004
• Taxable income: $5,901
• Est. tax owed @ 24.0%: −$1,416
• After-tax cash flow: $5,227/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, MN
• 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

+38.1% since first listed

9 events — show timeline

• 2026-05-22 Listed $68,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-30 Sold (MLS) $70,785 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-22 Listed $70,535 NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-31 Sold (MLS) $56,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-05-26 Sold (Public Records) $56,500 Public Records
• 2006-01-09 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-14 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 1999-08-03 Sold (MLS) $47,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-04-19 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.7%/yr

Latest (2025): $1,094 · +8.3% YoY. Source: county tax records.