116 N 6th St · Kiester, MN 56051

$125,000

3 bd · 2.0 ba · 1,260 sqft · Other public records · 3 Days on market

Built 1934 0.29 ac lot

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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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• 1% rule +5.8/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This beautiful brick home features 4 bedrooms, 2 bathrooms, oak floors, charming character, arched doorways and much more. Two stall detached garage plus a large yard are an added bonus.

Key facts

• Serene environment
• Spacious lot
• Outdoor space

Tags

• SPACIOUS LOT
• OUTDOOR SPACE
• POTENTIAL FOR CUSTOMIZATION
• FUNCTIONAL LIVING SPACE
• SERENE ENVIRONMENT

Property features AI

Exterior

• Parking: Asphalt driveway; 2-car garage
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; Two-story; Above-grade finished area and main level living area present
• Construction: Built on block foundation; Foundation area about 1,008
• Exterior features: Stone exterior; Lot approximately 0.29 acres (90 x 140)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (multiple on main level)
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; Block foundation; Two levels

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

Location & tenants

• Location reads 62/100 on livability (#710 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime D-.
• United South Central School District (rural): math 46% / reading 53% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($864 loan paydown + $3k appreciation (2.1% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y 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.
• Current owner paid $60k; list at $125k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1934 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 1.08% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.71×
• Total profit: $24,680
• Equity at exit: $50,221

10-year hold

• IRR: 15.6%
• Equity multiple: 3.11×
• Total profit: $73,753
• Equity at exit: $73,031

Cash invested: $35,000 (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 56051

• Home prices YoY: 0.9%
• Active inventory: 8
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$118 /mo · $1,414/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $239

Break-even live

Break-even rent $1,045

Max offer price $125,000

Occupancy floor 77%

Sensitivity live

Price	-10% $310	-5% $275	+0% $239	+5% $204	+10% $169
Rent	-10% $133	-5% $186	+0% $239	+5% $293	+10% $346
Rate	-1.0pp $302	-0.5pp $271	base $239	+0.5pp $207	+1.0pp $174

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $125,000 Active 3 DOM
2. 2026-06-18
   days on market $125,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $125,000 Active 1 DOM

ⓘ 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: $1,414 · $118/mo
• Projected year-2 tax: $1,414 · $118/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $16,175
• − Mortgage interest: −$7,002
• − Property taxes: −$1,414
• − Insurance: −$625
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,636
• Taxable income: $910
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $2,655/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: United South Central School District
• NCES district ID: 2700005
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $46,722
• Composite: 42.03/100
• National rank: #3330
• State rank: #130 of 301 in MN

Livability — Kiester

• Score: 62/100
• State rank: #710
• US rank: #17133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kiester, MN
• City population: 648
• Population (ZIP): 648

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 29% Serbian 6% Scottish 5%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.13%
• Current HPI: 231.8589
• 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

+155.1% since first listed

23 events — show timeline

• 2026-06-16 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-21 Sold (Public Records) $59,900 Public Records
• 2024-02-15 Sold (MLS) $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-15 Sold (MLS) $59,900 RASM
• 2024-01-24 Pending — RASM
• 2024-01-21 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-15 Contingent — RASM
• 2024-01-12 Listed $59,900 RASM
• 2024-01-12 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-17 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-12 Sold (Public Records) $100,000 Public Records
• 2022-10-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-02 Listed $107,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-29 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-29 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-12 Listed $49,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-12 Listed $49,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.0%/yr

Latest (2025): $1,414 · -0.8% YoY. Source: county tax records.