304 Sanderson St · Red Wing, MN 55066

$105,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 57 Days on market

Built 1870 2,613 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity or single family home! Renter occupied. Current lease ends on September 30th, 2026. Located on a dead end street across from Barn Bluff. The main level has a large living room, galley kitchen, 2 bedrooms and a full bath with a tile surround. Washer, dryer and utilities in basement. Detached oversized 1 car garage behind the home. The large tree by the garage was cut down and removed. May of 2026. Within close proximity to downtown Red Wing.

Key facts

• Tile surround
• Galley kitchen
• Dead end street

Tags

• INVESTMENT OPPORTUNITY
• RENTER OCCUPIED
• DEAD END STREET
• GALLEY KITCHEN
• FULL BATH
• TILE SURROUND

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.6% in Red Wing — 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 81/100 on livability (#64 in MN, #1,570 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D.
• Red Wing Public School District (rural): math 36% / reading 44% proficiency, ranked #220 of 301 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 86 units permitted in Goodhue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Goodhue County population projected at -11% 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask is 17% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $67k; list at $105k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 6.3

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: 9.0%
• Equity multiple: 1.35×
• Total profit: $10,437
• Equity at exit: $15,656

10-year hold

• IRR: 18.2%
• Equity multiple: 2.51×
• Total profit: $44,403
• Equity at exit: $9,078

Cash invested: $29,400 (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 55066

• Home prices YoY: -28.1%
• Active inventory: 143
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,397 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $431

Break-even live

Break-even rent $851

Max offer price $105,000

Occupancy floor 64%

Sensitivity live

Price	-10% $491	-5% $461	+0% $431	+5% $401	+10% $372
Rent	-10% $321	-5% $376	+0% $431	+5% $486	+10% $542
Rate	-1.0pp $484	-0.5pp $458	base $431	+0.5pp $404	+1.0pp $376

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Bush St Unit 112 Red Wing, MN	1.0	1.0	570	$1,490	$2.61	44d	1	0.38mi
222 Bush St Unit 207 Red Wing, MN	1.0	1.0	435	$1,290	$2.97	44d	1	0.38mi

Listing history 13 events

1. 2026-06-01
   statusdays on market $105,000 Pending 57 DOM
2. 2026-05-31
   days on market $105,000 Contingent - Inspection 56 DOM
3. 2026-05-13
   status Active 479-char remark

   Show marketing remark (479 chars)

   Great investment opportunity or single family home! Renter occupied. Current lease ends on September 30th, 2026. Located on a dead end street across from Barn Bluff. The main level has a large living room, galley kitchen, 2 bedrooms and a full bath with a tile surround. Washer, dryer and utilities in basement. Detached oversized 1 car garage behind the home. The large tree by the garage was cut down and removed. May of 2026. Within close proximity to downtown Red Wing.

4. 2026-05-13
   price $105,000 479-char remark

   Show marketing remark (479 chars)

   Great investment opportunity or single family home! Renter occupied. Current lease ends on September 30th, 2026. Located on a dead end street across from Barn Bluff. The main level has a large living room, galley kitchen, 2 bedrooms and a full bath with a tile surround. Washer, dryer and utilities in basement. Detached oversized 1 car garage behind the home. The large tree by the garage was cut down and removed. May of 2026. Within close proximity to downtown Red Wing.

5. 2026-01-04
   listed $90,000 Active 479-char remark

   Show marketing remark (479 chars)

   Great investment opportunity or single family home! Renter occupied. Current lease ends on September 30th, 2026. Located on a dead end street across from Barn Bluff. The main level has a large living room, galley kitchen, 2 bedrooms and a full bath with a tile surround. Washer, dryer and utilities in basement. Detached oversized 1 car garage behind the home. The large tree by the garage was cut down and removed. May of 2026. Within close proximity to downtown Red Wing.

6. 2019-06-20
   soldstatus $67,000
7. 2019-06-17
   soldstatus $67,000 Sold 195-char remark

   Show marketing remark (195 chars)

   Rental potential or perfect starter home. 2 Bedroom, 1 Bath, 1 car garage, located on a corner lot, newer water heater, windows and metal roof (2010) within walking distance to downtown shopping.

8. 2019-05-27
   status Pending 195-char remark

   Show marketing remark (195 chars)

   Rental potential or perfect starter home. 2 Bedroom, 1 Bath, 1 car garage, located on a corner lot, newer water heater, windows and metal roof (2010) within walking distance to downtown shopping.

9. 2019-04-15
   price $65,000 195-char remark

   Show marketing remark (195 chars)

   Rental potential or perfect starter home. 2 Bedroom, 1 Bath, 1 car garage, located on a corner lot, newer water heater, windows and metal roof (2010) within walking distance to downtown shopping.

10. 2019-01-13
    listed $79,900 Active 195-char remark

    Show marketing remark (195 chars)

    Rental potential or perfect starter home. 2 Bedroom, 1 Bath, 1 car garage, located on a corner lot, newer water heater, windows and metal roof (2010) within walking distance to downtown shopping.

11. 2009-04-06
    historical
12. 2008-11-11
    listed $29,850
13. 2004-05-27
    soldstatus $40,000

ⓘ 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: $934 · $78/mo
• Projected year-2 tax: $1,055 · $88/mo
• Expected delta: +$121/yr (+$10/mo · 13.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $16,761
• − Mortgage interest: −$5,882
• − Property taxes: −$934
• − Insurance: −$525
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,055
• Taxable income: $3,684
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,290/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: Red Wing Public School District
• NCES district ID: 2730480
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $53,206
• Composite: 34.77/100
• National rank: #5122
• State rank: #220 of 301 in MN

Livability — Red Wing

• Score: 81/100
• State rank: #64
• US rank: #1570

Category grades

Amenities D Commute C+ 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: Red Wing, MN
• County: Goodhue County · 19,226 people
• City population: 19,226
• Metro: Red Wing, MN
• Population (ZIP): 19,226
• Household income: $73,584
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 504.0

Population outlook (Goodhue County) Hauer SSP2

• Today (2025): 46,532 people
• By 2030: 46,185 · -0.7%
• By 2040: 44,531 · -4.3%
• By 2050: 41,532 · -10.7%
• By 2075: 33,745 · -27.5%
• By 2100: 23,716 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 14% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Goodhue

• 2024 margin: R (+16.4) · D 40.8% · R 57.3% · Other 1.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -1.4pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+14.8 2016: R+18.0 2012: R+3.0 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.16%
• Current HPI: 247.9899
• Rent YoY: —
• Metro: Red Wing, 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

+162.5% since first listed

11 events — show timeline

• 2026-05-13 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Price Changed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-04 Listed $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-20 Sold (Public Records) $67,000 Public Records
• 2019-06-17 Sold (MLS) $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-15 Price Changed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-13 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-11 Listed $29,850 NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-27 Sold (Public Records) $40,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $934 · +2.6% YoY. Source: county tax records.