919 N Washington St · New Ulm, MN 56073

$204,900

3 bd · 2.0 ba · 1,354 sqft · SingleFamily public records · 156 Days on market

Built 1913 8,250 sqft lot Est $195k · 5% over

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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 +15.1/30.0
• ARV discount +5.2/15.0
• DSCR +4.6/10.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Character and Style! Well Loved Home with hardwood floors, open floor plan- newer kitchen, full bath, three-same floor bedrooms. Room to finish in basement, 3/4 bath already there. New stamped patio and full backyard. Call and See - Today!

Key facts

• Open floor plan
• Full back yard
• 3 season porch

Tags

• 3 SEASON PORCH
• HARDWOOD FLOORS
• OPEN FLOOR PLAN
• UPDATED KITCHEN
• FULL BACK YARD
• STAMPED PATIO

Property features AI

Exterior

• Parking: 2-car garage with garage door opener; Concrete driveway/area
• Utilities: Public water; Public sewer
• Home design: Single-family residential; Residential property
• Construction: Stucco exterior; Asphalt roof
• Exterior features: Patio; Public maintained road

Interior

• Kitchen: Dishwasher; Microwave; Cooktop; Range; Refrigerator; Kitchen island
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Kitchen island; Unfinished full basement
• Laundry & utility: Washer; Dryer; Gas water heater; Water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $69 ($827/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 $180k (12.2% below list).
• Recommended offer: $180k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.2% in New Ulm — 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 82/100 on livability (#39 in MN, #1,102 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• New Ulm Public School District (town): math 51% / reading 51% proficiency, ranked #104 of 301 in MN (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary (math 47% / reading 39%, grade F, #574 of 857 statewide, top 67%, 619 students, 40% FRL); Washington Learning Center (188 students, 47% FRL); New Ulm High School (math 67% / reading 67%, grade B, #19 of 471 statewide, top 4%, 706 students, 29% FRL) — zoned schools average 39% FRL vs 21% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 41 units permitted in Brown County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Brown County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $118k; list at $205k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000 (12.2% below list)

Questions for the listing agent

1. It's been on market 156 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 1913 — 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 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?
6. 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?
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: 0.88% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $194,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 N Washington St	0.00mi	3/2.5	1,354 (0%)	1mo	$195,000	$144	97
1100 N Garden St	0.33mi	2/1.5 (-1)	1,328 (-2%)	0mo	$180,000	$136	74
806 N Payne St	0.25mi	2/2.0 (-1)	1,382 (+2%)	7mo	$181,000	$131	74
1001 N Jefferson St	0.17mi	2/1.0 (-1)	1,324 (-2%)	8mo	$155,000	$117	73
727 N Minnesota St	0.29mi	3/1.5	1,320 (-2%)	12mo	$198,000	$150	70
622 N Garden St	0.38mi	3/1.0	1,382 (+2%)	11mo	$240,000	$174	66
617 N Jefferson St	0.30mi	3/2.0	1,170 (-14%)	1mo	$229,900	$196	62
917 N Valley St	0.49mi	3/3.0	1,260 (-7%)	9mo	$182,000	$144	54
304 N Washington St	0.52mi	3/1.5	1,505 (+11%)	6mo	$227,000	$151	50
1526 N State St	0.52mi	2/1.0 (-1)	1,500 (+11%)	6mo	$105,000	$70	43
119 N Jefferson St	0.68mi	2/1.0 (-1)	1,215 (-10%)	3mo	$167,200	$138	40
1442 N 7th St	0.72mi	2/1.5 (-1)	1,208 (-11%)	4mo	$247,000	$204	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-28,823
• Equity at exit: $30,551

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-19,492
• Equity at exit: $17,716

Cash invested: $57,372 (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 56073

• Active inventory: 85
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$193 /mo · $2,318/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $69

Break-even live

Break-even rent $1,713

Max offer price $204,900

Occupancy floor 91%

Sensitivity live

Price	-10% $185	-5% $127	+0% $69	+5% $11	+10% $-47
Rent	-10% $-73	-5% $-2	+0% $69	+5% $140	+10% $211
Rate	-1.0pp $172	-0.5pp $121	base $69	+0.5pp $16	+1.0pp $-38

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Center St New Ulm, MN	3.0	2.0	1606	$1,800	$1.12	45d	1	0.82mi

Listing history 14 events

1. 2026-05-08
   status Pending
2. 2026-05-01
   historical Active Under Contract
3. 2026-04-04
   status Active
4. 2026-03-22
   historical Active Under Contract
5. 2026-03-03
   price $204,900
6. 2026-02-04
   price $209,900
7. 2025-12-03
   listed $214,900 Active
8. 2016-02-09
   soldstatus $117,500 240-char remark

   Show marketing remark (240 chars)

   Character and Style! Well Loved Home with hardwood floors, open floor plan- newer kitchen, full bath, three-same floor bedrooms. Room to finish in basement, 3/4 bath already there. New stamped patio and full backyard. Call and See - Today!

9. 2016-02-09
   soldstatus $117,500

   Show marketing remark (240 chars)

   Character and Style! Well Loved Home with hardwood floors, open floor plan- newer kitchen, full bath, three-same floor bedrooms. Room to finish in basement, 3/4 bath already there. New stamped patio and full backyard. Call and See - Today!

10. 2015-09-30
    listed $118,500 240-char remark

    Show marketing remark (240 chars)

    Character and Style! Well Loved Home with hardwood floors, open floor plan- newer kitchen, full bath, three-same floor bedrooms. Room to finish in basement, 3/4 bath already there. New stamped patio and full backyard. Call and See - Today!

11. 2012-07-02
    soldstatus $107,500
12. 2008-07-01
    soldstatus $104,900

    Show marketing remark (211 chars)

    Classic traditions with a fresh look!!! Renovated throughout!. Original maple wood floors, new maple cabinets with island and 8.5x5.7 walk-in pantry. Full lot in a great neighborhood, close to parks and schools.

13. 2008-07-01
    soldstatus $104,900 211-char remark

    Show marketing remark (211 chars)

    Classic traditions with a fresh look!!! Renovated throughout!. Original maple wood floors, new maple cabinets with island and 8.5x5.7 walk-in pantry. Full lot in a great neighborhood, close to parks and schools.

14. 2008-05-13
    listed $99,900 211-char remark

    Show marketing remark (211 chars)

    Classic traditions with a fresh look!!! Renovated throughout!. Original maple wood floors, new maple cabinets with island and 8.5x5.7 walk-in pantry. Full lot in a great neighborhood, close to parks and schools.

ⓘ 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: $2,318 · $193/mo
• Projected year-2 tax: $2,318 · $193/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 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $21,600
• − Mortgage interest: −$11,478
• − Property taxes: −$2,318
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,961
• Taxable loss: −$2,637
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $1,460/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: New Ulm Public School District
• NCES district ID: 2723490
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $53,171
• Composite: 43.93/100
• National rank: #2906
• State rank: #104 of 301 in MN

Livability — New Ulm

• Score: 82/100
• State rank: #39
• US rank: #1102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Ulm, MN
• City population: 17,325
• Population (ZIP): 17,325

Population outlook (Brown County) Hauer SSP2

• Today (2025): 24,403 people
• By 2030: 23,790 · -2.5%
• By 2040: 22,309 · -8.6%
• By 2050: 20,948 · -14.2%
• By 2075: 19,038 · -22.0%
• By 2100: 16,658 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 9% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+35.2) · D 31.5% · R 66.7% · Other 1.8%
• 2008→2024 swing: -23.1pp toward R · 2008: -12.1pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+32.8 2016: R+36.2 2012: R+16.6 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -166.22%
• Current HPI: 192.7295
• 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

+105.1% since first listed

14 events — show timeline

• 2026-05-08 Pending — RASM
• 2026-05-01 Contingent — RASM
• 2026-04-04 Relisted — RASM
• 2026-03-22 Contingent — RASM
• 2026-03-03 Price Changed $204,900 RASM
• 2026-02-04 Price Changed $209,900 RASM
• 2025-12-03 Listed $214,900 RASM
• 2016-02-09 Sold (Public Records) $117,500 Public Records
• 2016-02-09 Sold (MLS) $117,500 RASM
• 2015-09-30 Listed $118,500 RASM
• 2012-07-02 Sold (Public Records) $107,500 Public Records
• 2008-07-01 Sold (Public Records) $104,900 Public Records
• 2008-07-01 Sold (MLS) $104,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-05-13 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2025): $2,318 · -1.4% YoY. Source: county tax records.