1108 N North Ave · Fairmont, MN 56031

$99,900

2 bd · 2.0 ba · 945 sqft · SingleFamily public records · 30 Days on market

Built 1946 6,970 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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, cozy, and very affordable! This 3 BR Cape Cod home offers main floor bedroom and bath plus two upper level bedrooms, hardwood flooring, new doors and windows, new water heater 2024 and new furnace 2020. Single detached garage, deck and patio overlooking back yard, great location close to park!

Key facts

• Hardwood flooring
• New furnace
• New doors

Tags

• MAIN FLOOR BEDROOM
• HARDWOOD FLOORING
• NEW DOORS
• NEW WINDOWS
• NEW WATER HEATER
• NEW FURNACE

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Above-grade finished area 945
• Exterior features: Deck; Patio; Asphalt roof; Publicly maintained road

Interior

• Kitchen: Cooktop; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air; Window unit(s)
• Interior features: Unfinished full basement; Hardwood flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.4% in Fairmont — 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 68/100 on livability (#407 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Fairmont Area School District (town): math 45% / reading 51% proficiency, ranked #148 of 301 in MN (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $78k; 28% 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 $98,401 (1.5% 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 8.1

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-4,325
• Equity at exit: $14,895

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $11,446
• Equity at exit: $8,638

Cash invested: $27,972 (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 56031

• Active inventory: 94
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $187

Break-even live

Break-even rent $794

Max offer price $99,900

Occupancy floor 77%

Sensitivity live

Price	-10% $243	-5% $215	+0% $187	+5% $158	+10% $130
Rent	-10% $105	-5% $146	+0% $187	+5% $227	+10% $268
Rate	-1.0pp $237	-0.5pp $212	base $187	+0.5pp $161	+1.0pp $134

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $99,900 Active 30 DOM
2. 2026-06-21
   days on market $99,900 Active 29 DOM
3. 2026-06-18
   days on market $99,900 Active 27 DOM
4. 2026-06-17
   days on market $99,900 Active 26 DOM
5. 2026-06-16
   days on market $99,900 Active 25 DOM
6. 2026-06-15
   days on market $99,900 Active 24 DOM
7. 2026-06-13
   days on market $99,900 Active 22 DOM
8. 2026-06-12
   days on market $99,900 Active 21 DOM
9. 2026-06-09
   days on market $99,900 Active 18 DOM
10. 2026-06-08
    days on market $99,900 Active 17 DOM
11. 2026-06-07
    days on market $99,900 Active 16 DOM
12. 2026-06-05
    days on market $99,900 Active 14 DOM
13. 2026-06-04
    days on market $99,900 Active 12 DOM
14. 2026-06-02
    days on market $99,900 Active 11 DOM
15. 2026-06-01
    days on market $99,900 Active 10 DOM
16. 2026-05-31
    days on market $99,900 Active 9 DOM
17. 2026-05-31
    days on market $99,900 Active 8 DOM
18. 2026-05-21
    listed $99,900 Active

    Show marketing remark (301 chars)

    Cute, cozy, and very affordable! This 3 BR Cape Cod home offers main floor bedroom and bath plus two upper level bedrooms, hardwood flooring, new doors and windows, new water heater 2024 and new furnace 2020. Single detached garage, deck and patio overlooking back yard, great location close to park!

19. 2026-05-21
    listed $99,900 Active 301-char remark

    Show marketing remark (301 chars)

    Cute, cozy, and very affordable! This 3 BR Cape Cod home offers main floor bedroom and bath plus two upper level bedrooms, hardwood flooring, new doors and windows, new water heater 2024 and new furnace 2020. Single detached garage, deck and patio overlooking back yard, great location close to park!

20. 2024-06-07
    soldstatus $78,000
21. 2024-05-29
    soldstatus $78,000 Sold 738-char remark

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

22. 2024-05-29
    soldstatus $78,000 Closed

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

23. 2024-05-07
    status Pending 738-char remark

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

24. 2024-05-06
    status Pending
25. 2024-04-27
    historical Contingent - Inspection 738-char remark

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

26. 2024-04-27
    historical Active Under Contract

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

27. 2024-04-26
    listed $77,500 Active

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

28. 2024-04-26
    listed $77,500 Active 738-char remark

    Show marketing remark (738 chars)

    Welcome to this charming 2 bedroom, 2 bathroom home in Fairmont, MN. Featuring refinished wood floors, classic built-ins in the living room, and a spacious deck, this property offers both character and functionality. The main floor boasts a bedroom and bathroom, while upstairs, you'll find another bedroom and a large bonus room perfect for a walk-in closet, office, or entertainment area. With a single stall detached garage and 1177 finished square feet, this home offers ample space and potential. The basement includes a bathroom and potential bedroom, adding even more flexibility. Whether you're looking for a great investment opportunity or a cozy residence, don't miss out on this fantastic property. Schedule your showing today!

29. 2020-09-22
    soldstatus $62,500 Sold
30. 2020-09-22
    soldstatus $62,500
31. 2020-08-18
    status Pending
32. 2020-04-10
    price $64,900
33. 2020-02-08
    listed $69,900 Active
34. 2014-08-04
    soldstatus $50,000

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $929 · $77/mo
• Expected delta: +$189/yr (+$16/mo · 25.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,362
• − Mortgage interest: −$5,596
• − Property taxes: −$740
• − Insurance: −$500
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,906
• Taxable income: $642
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $2,085/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: Fairmont Area School District
• NCES district ID: 2700124
• Math proficiency: 45% ▼ -13.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $46,280
• Composite: 40.76/100
• National rank: #3648
• State rank: #148 of 301 in MN

Livability — Fairmont

• Score: 68/100
• State rank: #407
• US rank: #9480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, MN
• City population: 11,800
• Population (ZIP): 11,800

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 11% Romanian 6% Italian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.34%
• Current HPI: 191.514
• 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

+99.8% since first listed

17 events — show timeline

• 2026-05-21 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Listed $99,900 RASM
• 2024-06-07 Sold (Public Records) $78,000 Public Records
• 2024-05-29 Sold (MLS) $78,000 RASM
• 2024-05-29 Sold (MLS) $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-06 Pending — RASM
• 2024-04-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-27 Contingent — RASM
• 2024-04-26 Listed $77,500 RASM
• 2024-04-26 Listed $77,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-22 Sold (Public Records) $62,500 Public Records
• 2020-09-22 Sold (MLS) $62,500 NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-10 Price Changed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-02-08 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-04 Sold (Public Records) $50,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $740 · -23.9% YoY. Source: county tax records.