319 3rd St SW · Clara City, MN 56222

$122,500

3 bd · 1.0 ba · 1,194 sqft · SingleFamily · 15 Days on market

Built 1957 0.25 ac 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 +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks MLS

Move right in to your new home with Anderson windows, maintenance free siding, new exterior doors, new shutters, & a new furnace and new hot water heater in 2013. Home features a beautiful deck that has just been stained, leaf guard gutters, newly finished landscaping, and maintenance free front deck! Inside there is new carpet, roll-outs in the kitchen cabinets, a lazy susan on the top and bottom, large walk-in closets in the upper level master suite, two main floor bedrooms and so much more! The lot is large enough to be able to build on the north & west sides of the house someday if desired!!! Property has been surveyed and corners are marked with posts.

Key facts

• 0.25 acre lot
• Garage
• Built 1957

Property features AI

Finance

• Financial info: Conventional mortgage type

Exterior

• Parking: Attached garage (1-car) with concrete floor; Garage approximately 12 x 22 with 7' high by 8' wide door
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers and 100 amp service
• Home design: Residential property; One story
• Construction: Frame construction; Asphalt roof (age 8 years or less); Block foundation
• Exterior features: Patio; Metal exterior; Storage shed; No fencing

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 3 bedrooms (primary bedroom on the main floor)
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Kitchen window; Patio; Water softener (owned); ENERGY STAR qualified appliances
• Laundry & utility: Main floor laundry; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $122k).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#244 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Maccray School District (rural): math 41% / reading 46% proficiency, ranked #188 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 13 units permitted in Chippewa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Chippewa County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $100k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,662 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — 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: 2.18% ✓
• Cap rate: 18.65%
• Cash-on-cash: 44.14%
• DSCR: 2.96
• GRM: 3.8

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: 41.1%
• Equity multiple: 2.76×
• Total profit: $60,538
• Equity at exit: $18,265

10-year hold

• IRR: 47.3%
• Equity multiple: 5.56×
• Total profit: $156,339
• Equity at exit: $10,592

Cash invested: $34,300 (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 56222

• Home prices YoY: -3.3%
• Active inventory: 7
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,668 medium
• Mortgage (P&I): −$642
• Tax from tax record: −$152 /mo · $1,828/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,262

Break-even live

Break-even rent $1,071

Max offer price $122,500

Occupancy floor 48%

Sensitivity live

Price	-10% $1,331	-5% $1,296	+0% $1,262	+5% $1,227	+10% $1,192
Rent	-10% $1,051	-5% $1,156	+0% $1,262	+5% $1,367	+10% $1,472
Rate	-1.0pp $1,323	-0.5pp $1,293	base $1,262	+0.5pp $1,230	+1.0pp $1,198

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-15
   status Pending 724-char remark
2. 2026-05-07
   historical Contingent - Inspection 724-char remark
3. 2026-04-30
   listed $122,500 Active 724-char remark
4. 2019-07-11
   soldstatus $100,000 Sold 676-char remark

   Show marketing remark (676 chars)

   Move right in to your new home with Anderson windows, maintenance free siding, new exterior doors, new shutters, & a new furnace and new hot water heater in 2013. Home features a beautiful deck that has just been stained, leaf guard gutters, newly finished landscaping, and maintenance free front deck! Inside there is new carpet, roll-outs in the kitchen cabinets, a lazy susan on the top and bottom, large walk-in closets in the upper level master suite, two main floor bedrooms and so much more! The lot is large enough to be able to build on the north & west sides of the house someday if desired!!! Property has been surveyed and corners are marked with posts.

5. 2019-06-07
   status Pending 676-char remark

   Show marketing remark (676 chars)

   Move right in to your new home with Anderson windows, maintenance free siding, new exterior doors, new shutters, & a new furnace and new hot water heater in 2013. Home features a beautiful deck that has just been stained, leaf guard gutters, newly finished landscaping, and maintenance free front deck! Inside there is new carpet, roll-outs in the kitchen cabinets, a lazy susan on the top and bottom, large walk-in closets in the upper level master suite, two main floor bedrooms and so much more! The lot is large enough to be able to build on the north & west sides of the house someday if desired!!! Property has been surveyed and corners are marked with posts.

6. 2019-05-21
   historical Contingent - Inspection 676-char remark

   Show marketing remark (676 chars)

   Move right in to your new home with Anderson windows, maintenance free siding, new exterior doors, new shutters, & a new furnace and new hot water heater in 2013. Home features a beautiful deck that has just been stained, leaf guard gutters, newly finished landscaping, and maintenance free front deck! Inside there is new carpet, roll-outs in the kitchen cabinets, a lazy susan on the top and bottom, large walk-in closets in the upper level master suite, two main floor bedrooms and so much more! The lot is large enough to be able to build on the north & west sides of the house someday if desired!!! Property has been surveyed and corners are marked with posts.

7. 2019-05-08
   listed $99,000 Active 676-char remark

   Show marketing remark (676 chars)

   Move right in to your new home with Anderson windows, maintenance free siding, new exterior doors, new shutters, & a new furnace and new hot water heater in 2013. Home features a beautiful deck that has just been stained, leaf guard gutters, newly finished landscaping, and maintenance free front deck! Inside there is new carpet, roll-outs in the kitchen cabinets, a lazy susan on the top and bottom, large walk-in closets in the upper level master suite, two main floor bedrooms and so much more! The lot is large enough to be able to build on the north & west sides of the house someday if desired!!! Property has been surveyed and corners are marked with posts.

8. 2019-02-02
   historical
9. 2019-02-02
   historical
10. 2019-02-02
    historical
11. 2018-08-21
    soldstatus $71,000
12. 2017-04-18
    listed $62,000
13. 2016-04-11
    listed $67,000
14. 2014-06-09
    historical
15. 2014-02-26
    listed $73,000 Active
16. 2012-08-30
    listed $78,000
17. 2008-03-21
    soldstatus $64,000

ⓘ 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: $1,828 · $152/mo
• Projected year-2 tax: $1,828 · $152/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,010
• − Mortgage interest: −$6,862
• − Property taxes: −$1,828
• − Insurance: −$612
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$3,564
• Taxable income: $14,022
• Est. tax owed @ 24.0%: −$3,365
• After-tax cash flow: $11,773/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: Maccray School District
• NCES district ID: 2700091
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $52,637
• Composite: 37.64/100
• National rank: #4374
• State rank: #188 of 301 in MN

Livability — Clara City

• Score: 73/100
• State rank: #244
• US rank: #5251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clara City, MN
• Population (ZIP): 2,012

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 11,593 people
• By 2030: 11,294 · -2.6%
• By 2040: 10,715 · -7.6%
• By 2050: 10,229 · -11.8%
• By 2075: 9,600 · -17.2%
• By 2100: 8,500 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 4% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 25% Iranian 12% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Chippewa

• 2024 margin: Solid R (+34.1) · D 32.2% · R 66.3% · Other 1.6%
• 2008→2024 swing: -40.0pp toward R · 2008: 5.9pp · 2024: -34.1pp
• All cycles: 2024: R+34.1 2020: R+30.6 2016: R+28.9 2012: D+1.9 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.61%
• Current HPI: 220.8934
• 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

+91.4% since first listed

17 events — show timeline

• 2026-05-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $122,500 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-11 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-06-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-21 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-08 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-08-21 Sold (Public Records) $71,000 Public Records
• 2017-04-18 Listed $62,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-04-11 Listed $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-26 Listed $73,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-30 Listed $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-03-21 Sold (Public Records) $64,000 Public Records

Property tax history

+6.9%/yr

Latest (2026): $1,828 · +2.9% YoY. Source: county tax records.