431 S Milky Way St · Cosmos, MN 56228

$99,000

4 bd · 2.0 ba · 962 sqft · SingleFamily public records · 167 Days on market

Built 1926 0.26 ac 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 +24.8/30.0
• Appreciation +9.1/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This little Craftsman style bungalow could be the fixer upper you have been looking for! Property includes 2 parcel numbers and goes all the way to the corner. Could be a nice lot for a walk out basement! Or, fix up the existing home. There is a lot of discoloration present, so be aware, and maybe wear a mask. Note: driveway & shed to the South are not in this property.

Key facts

• New furnace
• New roof
• 0.26 acre lot

Tags

• NEW ROOF
• NEW FURNACE

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Detached or attached 1-car garage (approx. 12 x 122); Garage area about 264 square feet
• Security:
• Utilities: City water connected; City sewer connected; Natural gas fuel; Circuit breaker electrical
• Home design: Residential property; One story; Entry on main level
• Construction: Block foundation; Roof older than 8 years
• Exterior features: Stone and wood exterior; Corner lot; Paved streets with public maintenance

Interior

• Kitchen:
• Bedrooms: 4 bedrooms
• Flooring:
• Bathrooms: 2 full bathrooms (including a main floor full bath)
• Heating & cooling: Forced air heating; No central air
• Interior features: Living/dining room combination; Full, unfinished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#363 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D, amenities F.
• A.C.G.C. Public School District (rural): math 36% / reading 47% proficiency, ranked #209 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: A.C.G.C. Elementary (math 57% / reading 42%, grade D, #423 of 857 statewide, top 55%, 344 students, 54% FRL); Acgc Elementary Grades 5 And 6 (math 22% / reading 52%, grade F, #163 of 258 statewide, top 65%, 128 students, 63% FRL); A.C.G.C. Secondary (math 32% / reading 47%, grade F, #246 of 471 statewide, top 59%, 379 students, 51% FRL) — zoned schools average 56% FRL vs 32% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 73 units permitted in Meeker County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($684 loan paydown + $8k appreciation (8.2% local appreciation)).
• Meeker County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 167 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $14k; list at $99k implies a 583% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.99×
• Total profit: $55,197
• Equity at exit: $76,495

10-year hold

• IRR: 24.4%
• Equity multiple: 6.42×
• Total profit: $150,260
• Equity at exit: $153,080

Cash invested: $27,720 (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 56228

• Home prices YoY: 4.2%
• Active inventory: 3
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$22 /mo · $258/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $208

Break-even live

Break-even rent $737

Max offer price $99,000

Occupancy floor 74%

Sensitivity live

Price	-10% $264	-5% $236	+0% $208	+5% $180	+10% $152
Rent	-10% $129	-5% $169	+0% $208	+5% $248	+10% $287
Rate	-1.0pp $258	-0.5pp $233	base $208	+0.5pp $183	+1.0pp $156

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $99,000 Active 167 DOM
2. 2026-06-21
   days on market $99,000 Active 166 DOM
3. 2026-06-18
   days on market $99,000 Active 164 DOM
4. 2026-06-17
   days on market $99,000 Active 163 DOM
5. 2026-06-16
   days on market $99,000 Active 162 DOM
6. 2026-06-15
   days on market $99,000 Active 161 DOM
7. 2026-06-13
   days on market $99,000 Active 159 DOM
8. 2026-06-12
   days on market $99,000 Active 158 DOM
9. 2026-06-09
   days on market $99,000 Active 155 DOM
10. 2026-06-08
    days on market $99,000 Active 154 DOM
11. 2026-06-07
    days on market $99,000 Active 153 DOM
12. 2026-06-05
    days on market $99,000 Active 151 DOM
13. 2026-06-04
    days on market $99,000 Active 149 DOM
14. 2026-06-02
    days on market $99,000 Active 148 DOM
15. 2026-06-01
    days on market $99,000 Active 147 DOM
16. 2026-05-31
    days on market $99,000 Active 146 DOM
17. 2026-05-31
    days on market $99,000 Active 145 DOM
18. 2026-01-05
    listed $99,000 Active
19. 2025-07-31
    historical
20. 2025-01-30
    status Active
21. 2025-01-30
    listed $99,000 Active
22. 2019-07-09
    soldstatus $14,500
23. 2019-07-02
    soldstatus $14,500 Sold 376-char remark

    Show marketing remark (376 chars)

    This little Craftsman style bungalow could be the fixer upper you have been looking for! Property includes 2 parcel numbers and goes all the way to the corner. Could be a nice lot for a walk out basement! Or, fix up the existing home. There is a lot of discoloration present, so be aware, and maybe wear a mask. Note: driveway & shed to the South are not in this property.

24. 2019-06-17
    status Pending 376-char remark

    Show marketing remark (376 chars)

    This little Craftsman style bungalow could be the fixer upper you have been looking for! Property includes 2 parcel numbers and goes all the way to the corner. Could be a nice lot for a walk out basement! Or, fix up the existing home. There is a lot of discoloration present, so be aware, and maybe wear a mask. Note: driveway & shed to the South are not in this property.

25. 2019-06-17
    historical Contingent - Other 376-char remark

    Show marketing remark (376 chars)

    This little Craftsman style bungalow could be the fixer upper you have been looking for! Property includes 2 parcel numbers and goes all the way to the corner. Could be a nice lot for a walk out basement! Or, fix up the existing home. There is a lot of discoloration present, so be aware, and maybe wear a mask. Note: driveway & shed to the South are not in this property.

26. 2019-06-11
    listed $19,000 Active 376-char remark

    Show marketing remark (376 chars)

    This little Craftsman style bungalow could be the fixer upper you have been looking for! Property includes 2 parcel numbers and goes all the way to the corner. Could be a nice lot for a walk out basement! Or, fix up the existing home. There is a lot of discoloration present, so be aware, and maybe wear a mask. Note: driveway & shed to the South are not in this property.

27. 2018-09-24
    soldstatus $6,000 Sold
28. 2018-08-30
    status Pending
29. 2018-08-23
    historical
30. 2018-07-12
    listed $15,000 Active
31. 2012-12-27
    historical
32. 2012-06-27
    listed $26,000

ⓘ 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: $258 · $22/mo
• Projected year-2 tax: $683 · $57/mo
• Expected delta: +$425/yr (+$35/mo · 164.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,001
• − Mortgage interest: −$5,546
• − Property taxes: −$258
• − Insurance: −$495
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,880
• Taxable income: $902
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,281/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: A.C.G.C. Public School District
• NCES district ID: 2700106
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $54,013
• Composite: 36.08/100
• National rank: #4761
• State rank: #209 of 301 in MN

Livability — Cosmos

• Score: 69/100
• State rank: #363
• US rank: #8489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cosmos, MN
• Population (ZIP): 905

Population outlook (Meeker County) Hauer SSP2

• Today (2025): 22,292 people
• By 2030: 21,631 · -3.0%
• By 2040: 20,070 · -10.0%
• By 2050: 18,413 · -17.4%
• By 2075: 15,145 · -32.1%
• By 2100: 11,698 · -47.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 6% Romanian 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Meeker

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -32.0pp toward R · 2008: -10.8pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.6 2016: R+40.3 2012: R+16.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.19%
• Current HPI: 202.5522
• 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

+280.8% since first listed

15 events — show timeline

• 2026-01-05 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-30 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-30 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-09 Sold (Public Records) $14,500 Public Records
• 2019-07-02 Sold (MLS) $14,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-11 Listed $19,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-24 Sold (MLS) $6,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-12 Listed $15,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-12-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-27 Listed $26,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-7.2%/yr

Latest (2025): $258 · -1.5% YoY. Source: county tax records.