301 S Oak St · Hendricks, MN 56136

$175,000

3 bd · 2.0 ba · 1,543 sqft · SingleFamily · 21 Days on market

Built 1949 0.31 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +8.4/10.0
• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.8/10.0

Listing remarks

Welcome to this charming and well-updated home in the heart of Hendricks! Situated on a spacious corner lot just blocks from the school, hospital, and downtown, this property offers both convenience and comfortable living. The main level features a functional and inviting layout, including a bright & spacious living room, formal dining room, kitchen, main floor bedroom, and main floor 1/2 bathroom. You’ll also love the bright and sunny back porch, complete with main floor laundry and direct access to a brand-new concrete patio. .. perfect for relaxing evenings, entertaining guests, or keeping an eye on outdoor activities in the generous backyard. Upstairs, you’ll find two

Key facts

• Finished bonus room
• Updated kitchen
• Bright back porch

Tags

• CORNER LOT
• BRIGHT BACK PORCH
• BRAND NEW CONCRETE PATIO
• FINISHED BONUS ROOM
• HARDWOOD FLOORS
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Attached garage with storage and garage door opener; Concrete driveway; Electric in garage; 1-car garage (approximately 14' x 20')
• Utilities: City water connected; City sewer connected; Natural gas; 200+ amp electrical service with circuit breakers
• Home design: Residential property; One and one-half stories; Main floor primary bedroom
• Construction: Frame construction; Block foundation; Full basement
• Exterior features: Rear patio and porch; Wood exterior; Corner lot; Storage shed; 86 x 140 lot dimensions; City street with paved frontage; Publicly maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (main floor primary bedroom; other bedrooms on upper level)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on upper level; One half bathroom on main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Hardwood floors; Kitchen window; Main floor primary bedroom; Patio; Porch; Washer/dryer hookup; Water softener (owned); Partially finished basement with storage space; Separate/formal dining room
• Laundry & utility: Main level laundry room; Washer and dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (18.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (32.2% below list).
• Recommended offer: $119k (32.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#151 in MN, #3,376 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, employment D, commute F.
• Hendricks Public School District (rural): math 50% / reading 70% proficiency, ranked #153 of 467 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hendricks Elementary (math 54% / reading 54%, grade C, #320 of 857 statewide, top 41%, 98 students, 50% FRL); Hendricks Senior High (math 75% / reading 75%, grade A-, #6 of 471 statewide, top 2%, 47 students, 51% FRL) — zoned schools average 51% FRL vs 34% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 10 active listings in the ZIP; 13 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.8% local appreciation)).
• Lincoln County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $124k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,730 (32.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.68% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.40%
• DSCR: 0.80
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.97×
• Total profit: $47,666
• Equity at exit: $119,194

10-year hold

• IRR: 14.0%
• Equity multiple: 4.01×
• Total profit: $147,259
• Equity at exit: $224,560

Cash invested: $49,000 (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 56136

• Home prices YoY: 3.3%
• Active inventory: 10
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$127 /mo · $1,526/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-180

Break-even live

Break-even rent $1,415

Max offer price $143,231

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-130	+0% $-180	+5% $-229	+10% $-279
Rent	-10% $-274	-5% $-227	+0% $-180	+5% $-133	+10% $-86
Rate	-1.0pp $-92	-0.5pp $-135	base $-180	+0.5pp $-225	+1.0pp $-271

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-01
   status Pending
2. 2026-04-25
   historical Contingent - Inspection
3. 2026-04-10
   listed $175,000 Active
4. 2024-06-14
   soldstatus $123,700

ⓘ 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: $1,526 · $127/mo
• Projected year-2 tax: $1,743 · $145/mo
• Expected delta: +$217/yr (+$18/mo · 14.2%)

ⓘ 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 1/10 Low 7 d/yr ≥96°F today · 14 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: $14,248
• − Mortgage interest: −$9,803
• − Property taxes: −$1,526
• − Insurance: −$875
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$5,091
• Taxable loss: −$5,327
• Est. tax savings @ 24.0%: +$1,278
• After-tax cash flow: $-880/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: Hendricks Public School District
• NCES district ID: 2713680
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 70% ▲ 10.00%
• Median HH income: $45,562
• Composite: 52.23/100
• National rank: #3466
• State rank: #153 of 467 in MN

Livability — Hendricks

• Score: 76/100
• State rank: #151
• US rank: #3376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hendricks, MN
• Population (ZIP): 1,231

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 5,433 people
• By 2030: 5,215 · -4.0%
• By 2040: 4,828 · -11.1%
• By 2050: 4,445 · -18.2%
• By 2075: 3,678 · -32.3%
• By 2100: 2,762 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Portuguese 25% Romanian 6% Iranian 5%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+37.8) · D 30.1% · R 67.9% · Other 2.0%
• 2008→2024 swing: -38.6pp toward R · 2008: 0.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+38.0 2016: R+35.6 2012: R+5.3 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.82%
• Current HPI: 214.4647
• 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

+41.5% since first listed

4 events — show timeline

• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Listed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-14 Sold (Public Records) $123,700 Public Records

Property tax history

+4.7%/yr

Latest (2026): $1,526 · +5.0% YoY. Source: county tax records.