313 1st St · Sandstone, MN 55072

$150,000

4 bd · 2.0 ba · 1,315 sqft · SingleFamily public records · 36 Days on market

Built 1900 7,405 sqft lot

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Why this score? — see what drove the C- 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 +16.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

4 bedroom, 2 bathroom home with a 2-car garage located in Sandstone. This property offers a great opportunity for someone looking to build equity, invest, or take on a renovation project. Exterior highlights include steel siding, a new roof in 2024, and a 9x15 deck. Inside, the kitchen and upstairs have fresh paint, giving the next owner a nice starting point. The home is in need of repairs and updating, but offers a functional layout, garage space, and room to add value. Bring your ideas and make this property your own.

Key facts

• Fresh paint
• Steel siding
• 9x15 deck

Tags

• STEEL SIDING
• NEW ROOF
• 9X15 DECK
• FRESH PAINT
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Parking: Gravel parking; 2-car detached garage (24x24)
• Utilities: City water; City sewer; Natural gas; Electric service with circuit breakers and 100 amp service; Power provided by Minnesota Power
• Home design: Residential property; Two levels; Main entry level present; Above-grade finished living area and additional lower level
• Construction: Block and frame construction; Block foundation; Roof age 8 years or less; Built with above- and below-grade areas
• Exterior features: Deck/patio; Irregular lot with medium tree coverage; City street frontage with curbs, paved streets, sidewalks and street lights

Interior

• Kitchen: Range; Microwave; Refrigerator; Exhaust fan
• Bedrooms: 4 bedrooms total; Main floor bedroom included; Upper-level bedrooms present
• Bathrooms: Main floor full bath; Upper-level 3/4 bath
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Natural woodwork; Main floor primary bedroom; Separate/formal dining room; Kitchen window; Deck
• Laundry & utility: Washer; Dryer; Washer/Dryer hookup; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $88 ($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 $138k (8.3% below list).
• Recommended offer: $138k (8.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#267 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools C-, employment D+, amenities D-.
• East Central School District (rural): math 33% / reading 40% proficiency, ranked #248 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 37 active listings in the ZIP; 116 units permitted in Pine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Pine County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; list at $150k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,509 (8.3% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.92% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.1%
• Equity multiple: 3.08×
• Total profit: $87,319
• Equity at exit: $135,132

10-year hold

• IRR: 22.9%
• Equity multiple: 7.02×
• Total profit: $252,709
• Equity at exit: $291,417

Cash invested: $42,000 (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 55072

• Home prices YoY: 12.9%
• Active inventory: 37
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$149 /mo · $1,786/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $88

Break-even live

Break-even rent $1,263

Max offer price $150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $173	-5% $131	+0% $88	+5% $46	+10% $3
Rent	-10% $-20	-5% $34	+0% $88	+5% $143	+10% $197
Rate	-1.0pp $164	-0.5pp $127	base $88	+0.5pp $50	+1.0pp $10

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-16
   days on market $150,000 Active 36 DOM
2. 2026-06-15
   days on market $150,000 Active 35 DOM
3. 2026-06-13
   days on market $150,000 Active 33 DOM
4. 2026-06-12
   days on market $150,000 Active 32 DOM
5. 2026-06-09
   days on market $150,000 Active 29 DOM
6. 2026-06-08
   days on market $150,000 Active 28 DOM
7. 2026-06-07
   days on market $150,000 Active 27 DOM
8. 2026-06-05
   days on market $150,000 Active 25 DOM
9. 2026-06-04
   days on market $150,000 Active 23 DOM
10. 2026-06-02
    pricedays on market $150,000 Active 22 DOM
11. 2026-06-01
    days on market $160,000 Active 21 DOM
12. 2026-05-31
    days on market $160,000 Active 20 DOM
13. 2026-05-31
    days on market $160,000 Active 19 DOM
14. 2026-05-11
    listed $160,000 Active 526-char remark
15. 2024-03-11
    soldstatus $70,645
16. 2009-10-02
    historical
17. 2009-07-10
    listed $129,900
18. 2009-07-10
    listed $129,900
19. 2009-05-07
    soldstatus $25,500
20. 2008-11-26
    listed $29,900
21. 2008-03-12
    historical
22. 2007-09-12
    listed $64,900
23. 2005-12-21
    soldstatus $91,900
24. 2005-12-21
    soldstatus $96,400
25. 2005-11-21
    historical
26. 2005-10-17
    listed $94,900

ⓘ 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: $1,786 · $149/mo
• Projected year-2 tax: $1,786 · $149/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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,501
• − Mortgage interest: −$8,402
• − Property taxes: −$1,786
• − Insurance: −$750
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,364
• Taxable loss: −$1,441
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $1,406/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: East Central School District
• NCES district ID: 2711085
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $41,790
• Composite: 30.78/100
• National rank: #6152
• State rank: #248 of 301 in MN

Livability — Sandstone

• Score: 72/100
• State rank: #267
• US rank: #5808

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandstone, MN
• Population (ZIP): 4,409

Population outlook (Pine County) Hauer SSP2

• Today (2025): 27,565 people
• By 2030: 26,567 · -3.6%
• By 2040: 23,878 · -13.4%
• By 2050: 20,931 · -24.1%
• By 2075: 15,372 · -44.2%
• By 2100: 11,032 · -60.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 7% Black 7% Two or more races 5% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Portuguese 8% Romanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Pine

• 2024 margin: Solid R (+35.2) · D 31.6% · R 66.8% · Other 1.6%
• 2008→2024 swing: -36.7pp toward R · 2008: 1.5pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+30.2 2016: R+26.3 2012: R+0.7 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.97%
• Current HPI: 253.85
• 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

+58.1% since first listed

15 events — show timeline

• 2026-06-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-11 Sold (Public Records) $70,645 Public Records
• 2009-10-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-10 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-10 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-07 Sold (MLS) $25,500 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-26 Listed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-12 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-12-21 Sold (Public Records) $96,400 Public Records
• 2005-12-21 Sold (MLS) $91,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-11-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-17 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2025): $1,786 · +14.0% YoY. Source: county tax records.