1761 8th Ave · Newport, MN 55055

$139,900

3 bd · 1.0 ba · 936 sqft · Condo public records · 104 Days on market

Built 1983 $250/mo HOA · 14% of rent

---

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 +20.0/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this cozy 3-bedroom 1 bath condo in Newport! It’s great for a turn-key lifestyle and is more affordable than renting. Enjoy this lower unit one level living that has an open floor plan. Updates include: New vinyl flooring and some fresh paint. This move in ready home is in a quiet building and conveniently located close to parks, restaurants, bus line, freeway & highway access, and more!

Key facts

• Water heater
• Completely renovated
• Brand-new appliances

Tags

• CONVENIENTLY LOCATED
• COMPLETELY RENOVATED
• NEW WINDOWS AND DOORS
• MODERN LIGHTING
• BRAND-NEW APPLIANCES
• WATER HEATER

Property features AI

Finance

• Other: Common lot dimensions; Not a fractional ownership
• HOA & community: Self-managed association (contact: Steve Gardner); Monthly association fee of $250; Association covers hazard insurance, lawn care, parking, sewer, shared amenities, snow removal and water; Laundry listed as an association amenity

Exterior

• Parking: Shared driveway with asphalt surface; Detached garage (1 car) — approximately 10x21
• Utilities: City water (connected); City sewer (connected); Natural gas; Circuit breaker electrical
• Home design: Attached residential property; One story; All living facilities on one level
• Construction: Block foundation; Roof older than 8 years
• Exterior features: Vinyl exterior; Medium tree coverage; City streets with paved frontage; No fencing

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms (all on the main level); Main floor primary bedroom
• Bathrooms: One full bathroom with double sinks (main floor)
• Heating & cooling: Forced air heating; Wall unit(s) for cooling
• Interior features: Paneled doors; Living/Dining room layout; ENERGY STAR qualified appliances; Exhaust fan
• Laundry & utility: Laundry provided (association amenity); Laundry features: Other

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.9% in Newport — 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 78/100 on livability (#111 in MN, #2,533 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: commute C-, amenities F.
• South Washington County School District (suburban): math 52% / reading 61% proficiency, ranked #40 of 301 in MN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Nuevas Fronteras Spanish Immersion (math 47% / reading 47%, grade D-, #492 of 857 statewide, top 61%, 499 students, 16% FRL); Oltman Middle School (math 36% / reading 54%, grade D, #113 of 258 statewide, top 45%, 969 students, 36% FRL); East Ridge High School (math 67% / reading 77%, grade B+, #13 of 471 statewide, top 3%, 2,021 students, 15% FRL).
• Market conditions: 41 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 1,405 units permitted in Washington County in 2024 (121 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask is 7263% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $103k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.25% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 6.7

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-11,628
• Equity at exit: $20,860

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $4,588
• Equity at exit: $12,096

Cash invested: $39,172 (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 55055

• Home prices YoY: -24.6%
• Active inventory: 41
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,753 high
• Mortgage (P&I): −$734
• Tax from tax record: −$172 /mo · $2,064/yr
• Insurance: −$58
• HOA: −$250
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $171

Break-even live

Break-even rent $1,537

Max offer price $139,900

Occupancy floor 85%

Sensitivity live

Price	-10% $250	-5% $210	+0% $171	+5% $131	+10% $91
Rent	-10% $32	-5% $101	+0% $171	+5% $240	+10% $309
Rate	-1.0pp $241	-0.5pp $206	base $171	+0.5pp $134	+1.0pp $97

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1761 8th Ave Newport, MN	3.0	1.0	900	$1,900	$2.11	19d	1	0.03mi
1743 8th Ave Unit 1 Newport, MN	3.0	1.0	1100	$1,850	$1.68	45d	1	0.03mi
1650 10th Ave Newport, MN	1.0–2.0	1.0	700	$1,425	$2.04	3d	4	0.25mi
1624 10th Ave Newport, MN	2.0	1.0	750	$1,425	$1.90	19d	1	0.28mi
275 Red Rock Xing Newport, MN	1.0–3.0	1.0–2.0	965	$2,000	$2.07	0d	39	0.46mi
1340 8th Ave Unit 3 Newport, MN	2.0	1.0	700	$1,100	$1.57	6d	1	0.59mi
630 7th Ave Newport, MN	3.0	1.0	1100	$1,700	$1.55	25d	1	1.06mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-05-10
   listed $1,900
2. 2026-05-07
   status Pending
3. 2026-04-24
   historical Contingent - Subject to Statutory Rescission
4. 2026-04-13
   price $139,900
5. 2026-03-19
   status Active
6. 2026-03-13
   status Pending
7. 2026-01-16
   listed $149,900 Active
8. 2026-01-16
   historical
9. 2025-10-01
   listed $160,000 Active
10. 2025-09-24
    historical
11. 2024-10-11
    historical $1,650
12. 2024-08-01
    listed $1,650
13. 2023-07-31
    historical
14. 2019-09-11
    soldstatus $103,000
15. 2019-09-09
    soldstatus $103,000 Sold 417-char remark

    Show marketing remark (417 chars)

    Welcome home to this cozy 3-bedroom 1 bath condo in Newport! It’s great for a turn-key lifestyle and is more affordable than renting. Enjoy this lower unit one level living that has an open floor plan. Updates include: New vinyl flooring and some fresh paint. This move in ready home is in a quiet building and conveniently located close to parks, restaurants, bus line, freeway & highway access, and more!

16. 2019-08-05
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Welcome home to this cozy 3-bedroom 1 bath condo in Newport! It’s great for a turn-key lifestyle and is more affordable than renting. Enjoy this lower unit one level living that has an open floor plan. Updates include: New vinyl flooring and some fresh paint. This move in ready home is in a quiet building and conveniently located close to parks, restaurants, bus line, freeway & highway access, and more!

17. 2019-07-25
    historical 417-char remark

    Show marketing remark (417 chars)

    Welcome home to this cozy 3-bedroom 1 bath condo in Newport! It’s great for a turn-key lifestyle and is more affordable than renting. Enjoy this lower unit one level living that has an open floor plan. Updates include: New vinyl flooring and some fresh paint. This move in ready home is in a quiet building and conveniently located close to parks, restaurants, bus line, freeway & highway access, and more!

18. 2019-07-22
    listed $109,900 Active 417-char remark

    Show marketing remark (417 chars)

    Welcome home to this cozy 3-bedroom 1 bath condo in Newport! It’s great for a turn-key lifestyle and is more affordable than renting. Enjoy this lower unit one level living that has an open floor plan. Updates include: New vinyl flooring and some fresh paint. This move in ready home is in a quiet building and conveniently located close to parks, restaurants, bus line, freeway & highway access, and more!

19. 2008-02-14
    soldstatus $106,900
20. 2008-02-07
    soldstatus $106,900
21. 2007-12-20
    historical
22. 2007-12-11
    listed $109,900
23. 2007-07-20
    soldstatus $80,000
24. 2007-07-20
    soldstatus $85,000
25. 1996-12-10
    soldstatus $130,000

ⓘ 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: $2,064 · $172/mo
• Projected year-2 tax: $2,064 · $172/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $21,031
• − Mortgage interest: −$7,837
• − Property taxes: −$2,064
• − Insurance: −$700
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − HOA: −$3,000
• − Depreciation: −$4,070
• Taxable loss: −$4
• Est. tax savings @ 24.0%: +$1
• After-tax cash flow: $2,048/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: South Washington County School District
• NCES district ID: 2733810
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $88,285
• Composite: 51.8/100
• National rank: #1670
• State rank: #40 of 301 in MN

Livability — Newport

• Score: 78/100
• State rank: #111
• US rank: #2533

Category grades

Amenities F Commute C- Cost of living B 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: Newport, MN
• City population: 4,460
• Population (ZIP): 4,460

Population outlook (Washington County) Hauer SSP2

• Today (2025): 278,554 people
• By 2030: 290,465 · +4.3%
• By 2040: 310,014 · +11.3%
• By 2050: 324,118 · +16.4%
• By 2075: 362,697 · +30.2%
• By 2100: 381,491 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 12% Asian 9% Two or more races 6% Black 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 12% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Dominican Republic, United Kingdom
• Languages at home: 88% English-only · Other Asian/Pacific 7% Spanish 4%

Political lean MEDSL · Washington

• 2024 margin: Lean D (+8.9) · D 53.5% · R 44.6% · Other 1.9%
• 2008→2024 swing: +4.6pp toward D · 2008: 4.3pp · 2024: 8.9pp
• All cycles: 2024: D+8.9 2020: D+9.2 2016: D+1.9 2012: D+0.8 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.66%
• Current HPI: 220.2825
• 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

-98.5% since first listed

25 events — show timeline

• 2026-05-10 Listed for Rent $1,900 BUILDIUM
• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-16 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-01 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-24 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-11 Rental Removed $1,650 APPFOLIO
• 2024-08-01 Listed for Rent $1,650 APPFOLIO
• 2023-07-31 Rental Removed — APPFOLIO
• 2019-09-11 Sold (Public Records) $103,000 Public Records
• 2019-09-09 Sold (MLS) $103,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-22 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-02-14 Sold (Public Records) $106,900 Public Records
• 2008-02-07 Sold (MLS) $106,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-12-11 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-20 Sold (Public Records) $85,000 Public Records
• 2007-07-20 Sold (Public Records) $80,000 Public Records
• 1996-12-10 Sold (Public Records) $130,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,064 · +17.5% YoY. Source: county tax records.