93 Riverside Ter · Watertown, MN 55388

$125,000

4 bd · 2.0 ba · 2,030 sqft · SingleFamily · 6 Days on market

Built 2000 Fair condition 8,712 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 8,712 sq ft lot
• Built 2000
• Listed 6 days

Property features AI

Finance

• Financial info: Land is leased; land lease fee $500

Exterior

• Parking: 2-space carport; On-street parking available
• Utilities: Well water; Compliant shared septic system; Electric service
• Home design: Residential property; Manufactured home (yes); One story
• Construction: Frame construction; Asphalt roof; Other foundation
• Exterior features: Vinyl exterior; Light tree coverage; Private road frontage; Association-maintained road

Interior

• Kitchen: Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 4 bedrooms (all on the main level); 3 bedrooms on one level
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms (including a full primary and a main floor full bath)
• Heating & cooling: Forced air heating; Wall unit(s) for cooling
• Interior features: Hardwood floors; Eat-in kitchen; No basement
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 20.7% vs local median 3.5% in Watertown — 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 73/100 on livability (#251 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Watertown-Mayer Public School District (rural): math 43% / reading 54% proficiency, ranked #106 of 301 in MN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 682 units permitted in Carver County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Carver County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $125,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 2.40% ✓
• Cap rate: 20.71%
• Cash-on-cash: 51.50%
• DSCR: 3.29
• GRM: 3.5

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: 49.4%
• Equity multiple: 3.16×
• Total profit: $75,466
• Equity at exit: $18,638

10-year hold

• IRR: 54.9%
• Equity multiple: 6.40×
• Total profit: $189,096
• Equity at exit: $10,808

Cash invested: $35,000 (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 55388

• Home prices YoY: -18.8%
• Active inventory: 54
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,995 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $1,502

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 45%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1190 Landings Ln Watertown, MN	4.0	3.0	2387	$2,995	$1.25	2d	1	1.23mi

Listing history 5 events

1. 2026-06-18
   days on market $125,000 Active 6 DOM
2. 2026-06-17
   days on market $125,000 Active 5 DOM
3. 2026-06-16
   days on market $125,000 Active 4 DOM
4. 2026-06-15
   days on market $125,000 Active 3 DOM
5. 2026-06-13
   listed $125,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $35,940
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,875
• − Management: −$2,875
• − Depreciation: −$3,636
• Taxable income: $17,051
• Est. tax owed @ 24.0%: −$4,092
• After-tax cash flow: $13,934/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

A fair condition home with moderate rehab needs, offering good potential for updates to increase its value.

Repairs flagged

• Minor Landscaping — Some areas need trimming
• Moderate Exterior paint — Some discoloration on siding

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Both Replace dated kitchen appliances — Modern appliances improve functionality and aesthetics
• Resale Update bathroom fixtures — Modern fixtures increase appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Some areas need trimming	Minor	$500–3,000
Exterior paint · Some discoloration on siding	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Both Replace dated kitchen appliances — Modern appliances improve functionality and aesthetics ↑
• Resale Update bathroom fixtures — Modern fixtures increase appeal and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Watertown-Mayer Public School District
• NCES district ID: 2741910
• Math proficiency: 43% ▼ -20.00%
• Reading proficiency: 54% ▼ -10.00%
• Median HH income: $74,803
• Composite: 43.87/100
• National rank: #2921
• State rank: #106 of 301 in MN

Livability — Watertown

• Score: 73/100
• State rank: #251
• US rank: #5405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, MN
• City population: 5,974
• Population (ZIP): 5,974

Population outlook (Carver County) Hauer SSP2

• Today (2025): 115,077 people
• By 2030: 122,880 · +6.8%
• By 2040: 137,210 · +19.2%
• By 2050: 148,524 · +29.1%
• By 2075: 174,624 · +51.7%
• By 2100: 185,806 · +61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 19% Romanian 3% Lithuanian 2%
• Foreign-born: 1% · South Korea, China

Political lean MEDSL · Carver

• 2024 margin: Lean R (+5.4) · D 46.3% · R 51.7% · Other 2.0%
• 2008→2024 swing: +9.7pp toward D · 2008: -15.1pp · 2024: -5.4pp
• All cycles: 2024: R+5.4 2020: R+4.9 2016: R+13.7 2012: R+19.7 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -55.87%
• Current HPI: 241.5369
• 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

1 event — show timeline

• 2026-06-12 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid