109 Cameo Ln · Mankato, MN 56001

$305,900

4 bd · 1.0 ba · 2,180 sqft · SingleFamily public records · 28 Days on market

Built 1985 9,583 sqft lot $140/sqft · 40% below area Est $517k · 41% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 2 bath split level with 4 season sun room with sliding glass doors leading to covered deck where you overlook private back yard and wildlife. Finished basement with large family room and game room. Recent updates include furnace, roof, & water heater. Nicely landscaped

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1985

Property features AI

Finance

• Other: Lot approximately 0.22 acres (80 x 120)

Exterior

• Parking: Attached garage with 2 spaces; Garage door opener; Concrete driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Wood siding construction; Finished below-grade living area
• Exterior features: Deck; Patio; Asphalt roof; Wood siding; Public maintained road

Interior

• Kitchen: Dishwasher; Cooktop; Range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Vaulted ceilings; Eat-in kitchen; Finished full basement; Fireplace in family room
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $306k.

Deal economics

• At list price, monthly cash flow is $-342 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (31.4% below list).
• Recommended offer: $210k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.5% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kennedy Elementary (math 57% / reading 47%, grade C-, #368 of 857 statewide, top 47%, 370 students, 52% FRL); Prairie Winds Middle School (math 40% / reading 51%, grade D+, #106 of 258 statewide, top 43%, 954 students, 47% FRL); Mankato East Senior High (math 32% / reading 62%, grade D-, #166 of 471 statewide, top 39%, 1,293 students, 42% FRL) — zoned schools average 47% FRL vs 29% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.6%/yr); 359 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• This rent runs 36% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $163k; list at $306k implies a 87% gain — meaningful room to come down on a strong offer.

Recommended offer $209,830 (31.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.79%
• DSCR: 0.79
• GRM: 12.1

CMA / ARV

• ARV (median comp): $516,682
• List price: $305,900
• Delta: -40.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Dancing Waters Cir	0.07mi	3/3.0 (-1)	2,149 (-1%)	7mo	$545,000	$254	76
105 Crystal Ln	0.20mi	3/2.0 (-1)	2,090 (-4%)	8mo	$560,000	$268	68
153 Creekside Dr	0.28mi	3/2.0 (-1)	2,028 (-7%)	1mo	$484,905	$239	65
331 Cardinal Dr	0.59mi	4/2.0	2,182 (+0%)	11mo	$339,900	$156	60
117 Dancing Waters Cir	0.11mi	3/2.0 (-1)	1,860 (-15%)	4mo	$550,000	$296	58
2508 Marwood Dr	0.44mi	4/2.0	2,048 (-6%)	9mo	$318,500	$156	58
105 Thro Ave	0.56mi	4/2.0	2,219 (+2%)	12mo	$360,000	$162	57
2637 E Main St	0.51mi	4/2.5	2,282 (+5%)	12mo	$322,500	$141	52
116 Turquoise Ct	0.28mi	3/2.0 (-1)	2,440 (+12%)	9mo	$625,000	$256	51
2005 Aster Ln	0.68mi	4/2.0	2,010 (-8%)	4mo	$379,500	$189	48
228 Amber Ct Ct	0.36mi	3/2.0 (-1)	1,892 (-13%)	7mo	$450,000	$238	46
327 Cardinal Dr	0.60mi	5/3.0 (+1)	2,466 (+13%)	8mo	$355,500	$144	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.30×
• Total profit: $-60,310
• Equity at exit: $45,611

10-year hold

• IRR: -4.5%
• Equity multiple: 0.65×
• Total profit: $-30,262
• Equity at exit: $26,449

Cash invested: $85,652 (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 56001

• Rents YoY: 8.6%
• Active inventory: 359
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,098 medium
• Mortgage (P&I): −$1,604
• Tax from tax record: −$268 /mo · $3,218/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-342

Break-even live

Break-even rent $2,531

Max offer price $245,459

Occupancy floor —

Sensitivity live

Price	-10% $-169	-5% $-256	+0% $-342	+5% $-429	+10% $-515
Rent	-10% $-508	-5% $-425	+0% $-342	+5% $-259	+10% $-176
Rate	-1.0pp $-188	-0.5pp $-264	base $-342	+0.5pp $-421	+1.0pp $-502

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: $76,475
• Closing costs: $9,177
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
103 Everglades Trl Mankato, MN	2.0–4.0	2.5	1453	$1,995	$1.37	45d	3	0.91mi
109 Willow Cascades Trl Unit 109 WCT Mankato, MN	3.0	2.5	1500	$1,850	$1.23	45d	1	0.92mi
1050 Marsh St Unit 326 Van Tol Mankato, MN	3.0	2.0	1461	$2,360	$1.62	45d	1	1.41mi

Listing history 20 events

1. 2026-06-05
   statusdays on market $305,900 Pending 28 DOM
2. 2026-06-03
   days on market $305,900 Active Under Contract 27 DOM
3. 2026-06-02
   days on market $305,900 Active Under Contract 26 DOM
4. 2026-06-01
   days on market $305,900 Active Under Contract 25 DOM
5. 2026-05-31
   days on market $305,900 Active Under Contract 24 DOM
6. 2026-05-30
   days on market $305,900 Active Under Contract 23 DOM
7. 2026-05-13
   price $319,900 829-char remark
8. 2026-05-07
   listed $324,900 Active 829-char remark
9. 2010-03-03
   soldstatus $163,205
10. 2010-02-26
    soldstatus $168,000 285-char remark

    Show marketing remark (285 chars)

    4 bedroom, 2 bath split level with 4 season sun room with sliding glass doors leading to covered deck where you overlook private back yard and wildlife. Finished basement with large family room and game room. Recent updates include furnace, roof, & water heater. Nicely landscaped

11. 2010-02-02
    soldstatus $173,000
12. 2010-01-15
    listed $169,500 285-char remark

    Show marketing remark (285 chars)

    4 bedroom, 2 bath split level with 4 season sun room with sliding glass doors leading to covered deck where you overlook private back yard and wildlife. Finished basement with large family room and game room. Recent updates include furnace, roof, & water heater. Nicely landscaped

13. 2009-10-13
    listed $174,500
14. 2005-12-14
    soldstatus $179,870
15. 2005-12-12
    soldstatus $179,870
16. 2005-10-26
    historical
17. 2005-09-14
    listed $187,700
18. 2001-12-17
    soldstatus $161,500
19. 1997-04-23
    soldstatus $131,500
20. 1991-01-02
    soldstatus $97,000

ⓘ 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: $3,218 · $268/mo
• Projected year-2 tax: $3,322 · $277/mo
• Expected delta: +$104/yr (+$9/mo · 3.2%)

ⓘ 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 · 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: $25,180
• − Mortgage interest: −$17,135
• − Property taxes: −$3,218
• − Insurance: −$1,530
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$8,899
• Taxable loss: −$9,631
• Est. tax savings @ 24.0%: +$2,311
• After-tax cash flow: $-1,794/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

+215.4% since first listed

18 events — show timeline

• 2026-06-04 Pending — RASM
• 2026-05-28 Contingent — RASM
• 2026-05-24 Price Changed $305,900 RASM
• 2026-05-20 Price Changed $314,900 RASM
• 2026-05-13 Price Changed $319,900 RASM
• 2026-05-07 Listed $324,900 RASM
• 2010-03-03 Sold (Public Records) $163,205 Public Records
• 2010-02-26 Sold (MLS) $168,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-02 Sold (Public Records) $173,000 Public Records
• 2010-01-15 Listed $169,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-13 Listed $174,500 NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-14 Sold (Public Records) $179,870 Public Records
• 2005-12-12 Sold (MLS) $179,870 NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-14 Listed $187,700 NORTHSTARMLS as Distributed by MLS Grid
• 2001-12-17 Sold (Public Records) $161,500 Public Records
• 1997-04-23 Sold (Public Records) $131,500 Public Records
• 1991-01-02 Sold (Public Records) $97,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,218 · -2.2% YoY. Source: county tax records.