2028 Mockingbird Pl NW · Stewartville, MN 55976

$50,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 37 Days on market

Built 2026

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 3 Bed 2 Bath Home in Southern Hills Dont miss this well cared for 3 bedroom 2 bathroom home located in the welcoming Southern Hills community Step inside to an inviting open floor plan featuring a spacious living area and a large eat in island perfect for everyday living and entertaining Highlights include Generous primary bedroom with private bath and walk in closet Hard surface flooring throughout main living areas Carpeted bedrooms Nice deck for outdoor enjoyment Conveniently located just 20 minutes from downtown Rochester and Mayo Clinic with easy access to parks shopping and local amenities This home is a rare find in a desirable community and is available to all qualifi

Key facts

• Open floor plan
• Private bath
• Nice deck

Tags

• OPEN FLOOR PLAN
• LARGE EAT IN ISLAND
• HARD SURFACE FLOORING
• PRIVATE BATH
• WALK IN CLOSET
• NICE DECK

Property features AI

Finance

• Other: Address: 2028 Mockingbird Pl NW, Stewartville MN 55976
• Financial info: List price $50,900

Exterior

• Home design: Single section, 3-bedroom 2-bath plan; Spec/new construction
• Construction: Living area approximately 1,216; Built/listed in 2026

Interior

• Kitchen: Includes dishwasher, disposal, refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; Disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $51k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• Recommended offer: $49k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.2% vs local median 2.5% in Stewartville — 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 85/100 on livability (#18 in MN, #527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F.
• Stewartville Public School District (town): math 46% / reading 52% proficiency, ranked #120 of 301 in MN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 66 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $352 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Recommended offer $49,373 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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. 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: 2.87% ✓
• Cap rate: 25.19%
• Cash-on-cash: 67.48%
• DSCR: 4.00
• GRM: 2.9

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: 66.8%
• Equity multiple: 4.00×
• Total profit: $42,821
• Equity at exit: $7,589

10-year hold

• IRR: 71.1%
• Equity multiple: 8.23×
• Total profit: $103,109
• Equity at exit: $4,401

Cash invested: $14,252 (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 55976

• Home prices YoY: -27.8%
• Active inventory: 66
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,460 medium
• Mortgage (P&I): −$267
• Tax est. 1.5%: −$64 /mo · $764/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $801

Break-even live

Break-even rent $445

Max offer price $50,900

Occupancy floor 40%

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: $12,725
• Closing costs: $1,527
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2028 Mockingbird Pl NW Unit 14 Stewartville, MN	3.0	2.0	1216	$1,459	$1.20	44d	1	0.02mi
2020 Lark Ln NW Unit 200 Stewartville, MN	3.0	2.0	1056	$1,449	$1.37	21d	1	0.09mi
1821 Daniel Ln NE Stewartville, MN	2.0	1.5	1080	$1,550	$1.44	44d	1	0.79mi

Listing history 16 events

1. 2026-06-19
   days on market $50,900 Active 37 DOM
2. 2026-06-18
   days on market $50,900 Active 36 DOM
3. 2026-06-17
   days on market $50,900 Active 35 DOM
4. 2026-06-16
   days on market $50,900 Active 34 DOM
5. 2026-06-15
   days on market $50,900 Active 33 DOM
6. 2026-06-14
   days on market $50,900 Active 31 DOM
7. 2026-06-13
   days on market $50,900 Active 30 DOM
8. 2026-06-10
   days on market $50,900 Active 28 DOM
9. 2026-06-09
   days on market $50,900 Active 27 DOM
10. 2026-06-08
    days on market $50,900 Active 26 DOM
11. 2026-06-07
    days on market $50,900 Active 25 DOM
12. 2026-06-02
    days on market $50,900 Active 20 DOM
13. 2026-06-01
    days on market $50,900 Active 19 DOM
14. 2026-05-31
    days on market $50,900 Active 18 DOM
15. 2026-05-30
    days on market $50,900 Active 17 DOM
16. 2026-05-14
    listed $50,900 Active 783-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 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: $17,518
• − Mortgage interest: −$2,851
• − Property taxes: −$764
• − Insurance: −$254
• − Repairs & maintenance: −$1,401
• − Management: −$1,401
• − Depreciation: −$1,481
• Taxable income: $9,365
• Est. tax owed @ 24.0%: −$2,248
• After-tax cash flow: $7,370/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: Stewartville Public School District
• NCES district ID: 2738160
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $58,649
• Composite: 42.76/100
• National rank: #3156
• State rank: #120 of 301 in MN

Livability — Stewartville

• Score: 85/100
• State rank: #18
• US rank: #527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stewartville, MN
• City population: 8,542
• Population (ZIP): 8,542

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 20% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.02%
• Current HPI: 267.7547
• 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