180 6th St · Walnut Grove, MN 56180

$120,000

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 113 Days on market

Built 1977 0.32 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 +21.0/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 3-Bedroom, 2-Bath Home on a Spacious Corner Lot in Walnut Grove Welcome to this 3-bedroom, 2-bath home located on a desirable corner lot in Walnut Grove. The property features a 2-stall attached garage plus a large backyard shed, offering plenty of space for vehicles, tools, and hobbies. Inside, you’ll find a full basement with 8-foot ceilings—perfect for future expansion. Whether you’re looking to add additional bedrooms, create a recreation space, or enjoy ample storage, the possibilities are endless. With generous outdoor space, flexible living areas, and incredible potential, this home is truly a must-see for anyone looking for opportunity and room to grow

Key facts

• Full basement
• Large backyard shed
• 8-foot ceilings

Tags

• CORNER LOT
• LARGE BACKYARD SHED
• FULL BASEMENT
• 8-FOOT CEILINGS
• FLEXIBLE LIVING AREAS
• GENEROUS OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (3.3% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#66 in MN, #1,651 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Westbrook-Walnut Grove Schools (rural): math 42% / reading 42% proficiency, ranked #213 of 301 in MN (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($830 loan paydown + $6k appreciation (5.2% local appreciation)).
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $120k implies a 200% gain — meaningful room to come down on a strong offer.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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: 0.97% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.05%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.19×
• Total profit: $40,002
• Equity at exit: $69,683

10-year hold

• IRR: 18.4%
• Equity multiple: 4.30×
• Total profit: $110,833
• Equity at exit: $121,676

Cash invested: $33,600 (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 56180

• Home prices YoY: 2.5%
• Active inventory: 11
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,161 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $170

Break-even live

Break-even rent $946

Max offer price $120,000

Occupancy floor 80%

Sensitivity live

Price	-10% $237	-5% $203	+0% $170	+5% $136	+10% $102
Rent	-10% $78	-5% $124	+0% $170	+5% $215	+10% $261
Rate	-1.0pp $230	-0.5pp $200	base $170	+0.5pp $138	+1.0pp $107

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-15
   status Pending
2. 2025-12-22
   listed $120,000 Active
3. 2009-04-20
   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: $818 · $68/mo
• Projected year-2 tax: $1,081 · $90/mo
• Expected delta: +$263/yr (+$22/mo · 32.2%)

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

Taxation est. · year 1

• Rental income: $13,929
• − Mortgage interest: −$6,722
• − Property taxes: −$818
• − Insurance: −$600
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$3,491
• Taxable income: $69
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $2,018/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: Westbrook-Walnut Grove Schools
• NCES district ID: 2700183
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 42% ▼ -8.00%
• Median HH income: $43,672
• Composite: 35.55/100
• National rank: #4906
• State rank: #213 of 301 in MN

Livability — Walnut Grove

• Score: 80/100
• State rank: #66
• US rank: #1651

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walnut Grove, MN
• Population (ZIP): 1,203

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Asian 29% Two or more races 9% Hispanic / Latino 4% Native American 3%
• Common ancestry: Portuguese 14% English 4% Scottish 2%
• Foreign-born: 17% · Philippines, Canada
• Languages at home: 74% English-only · Other Asian/Pacific 22% Spanish 3%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 210.5411
• 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

+200.0% since first listed

3 events — show timeline

• 2026-04-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-22 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-20 Sold (Public Records) $40,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $818 · -24.7% YoY. Source: county tax records.