1501 7th Ave NW · Austin, MN 55912

$115,900

2 bd · 2.0 ba · 1,184 sqft · SingleFamily public records · 21 Days on market

Built 1946 6,054 sqft lot

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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).

• Cash flow +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

Key facts

• Main floor laundry
• Finished basement
• Vinyl siding

Tags

• FINISHED BASEMENT
• MODERN KITCHEN
• MAIN FLOOR LAUNDRY
• CENTRAL AIR
• VINYL SIDING

Property features AI

Exterior

• Parking: Detached/attached 2-car garage (20 x 22, ~440 sq ft)
• Utilities: City water connected; City sewer connected; Electric with circuit breakers (100 amp service); Natural gas
• Home design: Residential property; One and one-half levels; Above-grade finished area 803; Below-grade finished area 409
• Construction: Frame construction; Asphalt roof; Poured concrete foundation (foundation area 560; foundation dimensions 20 x 28); Built on a poured concrete foundation
• Exterior features: Vinyl exterior; Lot approximately 0.139 acres (45 x 134)

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Two bedrooms (one on main level, one on upper level)
• Bathrooms: Two full bathrooms (one on main level, one in lower level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Informal dining area; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/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 $110k (5.5% below list).
• Recommended offer: $110k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.5% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $801 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $99k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,563 (5.5% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.95% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.4%
• Equity multiple: 0.79×
• Total profit: $-6,829
• Equity at exit: $17,281

10-year hold

• IRR: 9.3%
• Equity multiple: 1.87×
• Total profit: $28,332
• Equity at exit: $10,021

Cash invested: $32,452 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 188
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,096 high
• Mortgage (P&I): −$608
• Tax from tax record: −$113 /mo · $1,352/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $97

Break-even live

Break-even rent $973

Max offer price $115,900

Occupancy floor 86%

Sensitivity live

Price	-10% $162	-5% $130	+0% $97	+5% $64	+10% $31
Rent	-10% $10	-5% $54	+0% $97	+5% $140	+10% $183
Rate	-1.0pp $155	-0.5pp $126	base $97	+0.5pp $67	+1.0pp $36

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 14th St NW Austin, MN	2.0	1.0	518	$1,050	$2.03	44d	18	0.12mi
600 14th St NW Apt 6 Austin, MN	2.0	1.0	700	$995	$1.42	44d	1	0.12mi
609 11th St NW Austin, MN	2.0	2.0	925	$1,300	$1.41	44d	1	0.27mi
1105 3rd St NW Austin, MN	1.0	1.0	720	$925	$1.28	44d	2	0.80mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	44d	96	0.90mi
202 11th Ave NW Unit 602 Austin, MN	2.0	1.0	1000	$950	$0.95	44d	1	0.94mi
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	44d	1	0.97mi
1310 21st Ave NW Austin, MN	2.0	1.0	685	$1,467	$2.14	44d	5	1.12mi
203 31st St SW Austin, MN	1.0–3.0	1.0–2.0	915	$995	$1.09	44d	10	1.35mi
201 31st St SW Unit 3 Austin, MN	2.0	1.0	902	$795	$0.88	44d	1	1.38mi
201 31st St SW Unit 1 Austin, MN	3.0	2.0	1096	$1,195	$1.09	44d	1	1.38mi
201 31st St SW Unit 35 Austin, MN	2.0	1.0	902	$1,045	$1.16	44d	1	1.38mi

Listing history 38 events

1. 2026-06-19
   days on market $115,900 Active 21 DOM
2. 2026-06-18
   days on market $115,900 Active 20 DOM
3. 2026-06-17
   days on market $115,900 Active 19 DOM
4. 2026-06-16
   days on market $115,900 Active 18 DOM
5. 2026-06-15
   days on market $115,900 Active 17 DOM
6. 2026-06-14
   days on market $115,900 Active 15 DOM
7. 2026-06-12
   days on market $115,900 Active 14 DOM
8. 2026-06-09
   days on market $115,900 Active 11 DOM
9. 2026-06-08
   days on market $115,900 Active 10 DOM
10. 2026-06-07
    pricedays on market $115,900 Active 9 DOM
11. 2026-06-05
    days on market $120,000 Active 6 DOM
12. 2026-06-02
    pricedays on market $120,000 Active 4 DOM
13. 2026-06-01
    days on market $125,001 Active 3 DOM
14. 2026-05-31
    days on market $125,001 Active 2 DOM
15. 2026-05-20
    listed $125,000 Active
16. 2025-05-12
    historical $1,000
17. 2025-04-12
    price $1,000
18. 2025-04-11
    price $1,050
19. 2025-02-14
    listed $1,100
20. 2023-12-03
    historical $1,050
21. 2023-11-23
    price $1,050
22. 2023-10-26
    listed $1,100
23. 2023-10-20
    soldstatus $99,000 Sold 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

24. 2023-09-15
    status Pending 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

25. 2023-09-12
    price $105,000 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

26. 2023-09-07
    status Active 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

27. 2023-08-30
    status Pending 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

28. 2023-08-25
    historical Contingent - Inspection 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

29. 2023-08-23
    listed $112,000 Active 391-char remark

    Show marketing remark (391 chars)

    The home that celebrates the power of twos! 2 bedrooms, 2 full bathrooms, 2 stall garage, plus a finished basement. The bonus space upstairs is ready to adapt to your lifestyle as an additional bedroom, home office, playroom, exercise room - the list goes on. Enjoy main floor laundry, central A/C, recently serviced furnace, and maintenance free exterior – all at an affordable price.

30. 2018-12-10
    historical 21-char remark

    Show marketing remark (21 chars)

    Listed, pended, sold.

31. 2018-12-10
    historical

    Show marketing remark (21 chars)

    Listed, pended, sold.

32. 2017-12-05
    soldstatus $47,000
33. 2015-10-06
    listed $54,500
34. 2015-08-06
    soldstatus $44,000 21-char remark

    Show marketing remark (21 chars)

    Listed, pended, sold.

35. 2015-07-02
    listed $55,000 21-char remark

    Show marketing remark (21 chars)

    Listed, pended, sold.

36. 2007-01-19
    soldstatus $17,000
37. 2007-01-12
    soldstatus $17,000
38. 2006-11-20
    listed $39,900

ⓘ 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: $1,352 · $113/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥98°F today · 16 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: $13,148
• − Mortgage interest: −$6,492
• − Property taxes: −$1,352
• − Insurance: −$580
• − Repairs & maintenance: −$1,052
• − Management: −$1,052
• − Depreciation: −$3,372
• Taxable loss: −$751
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $1,342/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

Amenities A- Commute F 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: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+213.3% since first listed

24 events — show timeline

• 2026-05-20 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-12 Rental Removed $1,000 APPFOLIO
• 2025-04-12 Price Changed $1,000 APPFOLIO
• 2025-04-11 Price Changed $1,050 APPFOLIO
• 2025-02-14 Listed for Rent $1,100 APPFOLIO
• 2023-12-03 Rental Removed $1,050 APPFOLIO
• 2023-11-23 Price Changed $1,050 APPFOLIO
• 2023-10-26 Listed for Rent $1,100 APPFOLIO
• 2023-10-20 Sold (MLS) $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-12 Price Changed $105,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-23 Listed $112,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-05 Sold (Public Records) $47,000 Public Records
• 2015-10-06 Listed $54,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-06 Sold (MLS) $44,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-02 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-01-19 Sold (Public Records) $17,000 Public Records
• 2007-01-12 Sold (MLS) $17,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-20 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.3%/yr

Latest (2025): $1,352 · +42.3% YoY. Source: county tax records.