605 N Columbia Ave · Fulda, MN 56131

$82,500

2 bd · 1.0 ba · 680 sqft · SingleFamily · 61 Days on market

Built 1946 8,058 sqft lot $121/sqft · 21% above area Est $68k · 21% over

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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 +23.6/30.0
• DSCR +7.6/10.0
• Appreciation +6.5/10.0
• 1% rule +6.0/10.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great opportunity to own an affordable 2 bedroom, 1 bath home with detached garage. This smaller home offers efficient living, low maintenance, and solid potential for homeowners or investors alike. Convenient layout, functional space, and room to add your personal touch. Hard-to-find price point makes this one worth a look!

Key facts

• 8,058 sq ft lot
• Garage
• Built 1946

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $82k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#121 in MN, #2,728 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Fulda Public School District (rural): math 55% / reading 55% proficiency, ranked #225 of 467 in MN (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 21 active listings in the ZIP; 21 units permitted in Murray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($570 loan paydown + $2k appreciation (3.0% local appreciation)).
• Murray County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $82k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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: 1.10% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 7.6

CMA / ARV

• ARV (median comp): $67,951
• List price: $82,500
• Delta: 21.41%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.86×
• Total profit: $19,865
• Equity at exit: $37,142

10-year hold

• IRR: 16.8%
• Equity multiple: 3.46×
• Total profit: $56,850
• Equity at exit: $57,276

Cash invested: $23,100 (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 56131

• Home prices YoY: 2.1%
• Active inventory: 21
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $907 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$95 /mo · $1,136/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $155

Break-even live

Break-even rent $711

Max offer price $82,500

Occupancy floor 78%

Sensitivity live

Price	-10% $202	-5% $178	+0% $155	+5% $132	+10% $108
Rent	-10% $83	-5% $119	+0% $155	+5% $191	+10% $227
Rate	-1.0pp $197	-0.5pp $176	base $155	+0.5pp $134	+1.0pp $112

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $82,500 Active 61 DOM
2. 2026-06-18
   days on market $82,500 Active 59 DOM
3. 2026-06-17
   days on market $82,500 Active 58 DOM
4. 2026-06-16
   days on market $82,500 Active 57 DOM
5. 2026-06-15
   days on market $82,500 Active 56 DOM
6. 2026-06-13
   statusdays on market $82,500 Active 54 DOM
7. 2026-06-12
   days on market $82,500 Contingent - Inspection 53 DOM
8. 2026-06-09
   days on market $82,500 Contingent - Inspection 50 DOM
9. 2026-06-08
   days on market $82,500 Contingent - Inspection 49 DOM
10. 2026-06-07
    statusdays on market $82,500 Contingent - Inspection 48 DOM
11. 2026-06-05
    days on market $82,500 Active 46 DOM
12. 2026-06-04
    days on market $82,500 Active 44 DOM
13. 2026-06-02
    days on market $82,500 Active 43 DOM
14. 2026-06-01
    days on market $82,500 Active 42 DOM
15. 2026-05-31
    days on market $82,500 Active 41 DOM
16. 2026-05-31
    days on market $82,500 Active 40 DOM
17. 2026-05-12
    price $85,000 326-char remark

    Show marketing remark (326 chars)

    Great opportunity to own an affordable 2 bedroom, 1 bath home with detached garage. This smaller home offers efficient living, low maintenance, and solid potential for homeowners or investors alike. Convenient layout, functional space, and room to add your personal touch. Hard-to-find price point makes this one worth a look!

18. 2026-04-20
    listed $89,900 Active 326-char remark

    Show marketing remark (326 chars)

    Great opportunity to own an affordable 2 bedroom, 1 bath home with detached garage. This smaller home offers efficient living, low maintenance, and solid potential for homeowners or investors alike. Convenient layout, functional space, and room to add your personal touch. Hard-to-find price point makes this one worth a look!

19. 2017-10-06
    soldstatus $34,600
20. 2017-10-06
    soldstatus $34,500

ⓘ 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: $1,136 · $95/mo
• Projected year-2 tax: $1,136 · $95/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 5/10 Major 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $10,887
• − Mortgage interest: −$4,621
• − Property taxes: −$1,136
• − Insurance: −$412
• − Repairs & maintenance: −$871
• − Management: −$871
• − Depreciation: −$2,400
• Taxable income: $575
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $1,722/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: Fulda Public School District
• NCES district ID: 2712480
• Math proficiency: 55% ▲ 5.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $49,351
• Composite: 48.68/100
• National rank: #4564
• State rank: #225 of 467 in MN

Livability — Fulda

• Score: 78/100
• State rank: #121
• US rank: #2728

Category grades

Amenities F 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: Fulda, MN
• Population (ZIP): 2,216

Population outlook (Murray County) Hauer SSP2

• Today (2025): 7,978 people
• By 2030: 7,715 · -3.3%
• By 2040: 7,213 · -9.6%
• By 2050: 6,820 · -14.5%
• By 2075: 6,371 · -20.1%
• By 2100: 5,729 · -28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 10% Iranian 6% Italian 3%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 4%

Political lean MEDSL · Murray

• 2024 margin: Solid R (+42.4) · D 27.9% · R 70.4% · Other 1.7%
• 2008→2024 swing: -42.9pp toward R · 2008: 0.5pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+39.1 2016: R+36.2 2012: R+7.2 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.01%
• Current HPI: 148.51
• 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

+145.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-06 Sold (Public Records) $34,500 Public Records
• 2017-10-06 Sold (Public Records) $34,600 Public Records

Property tax history

+8.3%/yr

Latest (2026): $1,136 · +23.5% YoY. Source: county tax records.