511 3rd St NE · St. Cloud, MN 56304

$159,000

3 bd · 1.0 ba · 1,240 sqft · SingleFamily · 78 Days on market

Built 1910 2,265 sqft lot

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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 +16.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A must see, very well maintained on the inside. Could use a little outside TLC, but overall this house is move in ready. Entering the home you will find an entry to hang up your coats & take off your shoes. Through the entry you will find enough room to have a Dinning Room & a wide open Kitchen space you could even add an Island. To the right of the Kitchen you have a hall way to 2 bedrooms, the bathroom or you can go out the backdoor. To the left of entering the front door you will find the large enough to entertain Living Room. From the living room there is a choose your space double Bedroom, use the loft for a bedroom or private office, workout room, or just an amazing game room, or you can have the loft as the bedroom & the lower area for the office, and so on. Fenced in Backyard.

Key facts

• 2,265 sq ft lot
• Built 1910
• Listed 78 days

Property features AI

Finance

• Financial info: Annual property tax around $1,088 (2026)

Exterior

• Parking: Gravel driveway; Driveway with other non-standard surface
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Entry on a one and one-half story home
• Construction: Foundation area approximately 1,040
• Exterior features: Vinyl exterior; Lot roughly 68 x 46 x 45 x 40 feet

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Partial basement; One and one-half levels

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $91 ($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 $136k (14.6% below list).
• Recommended offer: $136k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.9% in St. Cloud — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary (math 9% / reading 17%, grade F, #799 of 857 statewide, top 93%, 396 students, 92% FRL); North Junior High (math 17% / reading 32%, grade F, #219 of 258 statewide, top 86%, 708 students, 77% FRL); Apollo Senior High (math 27% / reading 47%, grade F, #282 of 471 statewide, top 63%, 1,225 students, 67% FRL) — zoned schools average 79% FRL vs 48% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.8%/yr); 116 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Benton County in 2024 (0 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,820 (14.6% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.45%
• DSCR: 1.11
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.57×
• Total profit: $-18,938
• Equity at exit: $23,707

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-4,706
• Equity at exit: $13,747

Cash invested: $44,520 (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 56304

• Home prices YoY: -21.4%
• Rents YoY: 3.8%
• Active inventory: 116
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$834
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $91

Break-even live

Break-even rent $1,243

Max offer price $159,000

Occupancy floor 88%

Sensitivity live

Price	-10% $181	-5% $136	+0% $91	+5% $46	+10% $1
Rent	-10% $-16	-5% $37	+0% $91	+5% $145	+10% $198
Rate	-1.0pp $171	-0.5pp $131	base $91	+0.5pp $50	+1.0pp $8

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 5th Ave S St Cloud, MN	1.0–4.0	1.0–4.0	692	$1,080	$1.56	45d	23	0.77mi
1244 E Saint Germain St Saint Cloud, MN	2.0	1.0	875	$830	$0.95	26d	1	0.87mi
1015 7th St N Apt 2 St Cloud, MN	2.0	1.0	850	$1,100	$1.29	45d	1	0.88mi
1570 E St Germain St St Cloud, MN	1.0–2.0	1.0	787	$1,055	$1.34	1d	17	0.96mi
200 14th Ave SE Saint Cloud, MN	2.0	1.0	850	$1,025	$1.21	3d	3	0.96mi
503 15th Ave SE Unit 305 St Cloud, MN	2.0	1.0	832	$925	$1.11	45d	1	1.09mi
825 9th Ave S Saint Cloud, MN	1.0–2.0	1.0	843	$1,000	$1.19	45d	2	1.31mi
1205 11th St SE Saint Cloud, MN	4.0	2.0	1416	$2,450	$1.73	45d	1	1.32mi
801 15th Ave S Unit 2 St Cloud, MN	2.0	1.0	1100	$1,175	$1.07	45d	1	1.45mi
1225 13th St SE Saint Cloud, MN	4.0	3.0	1500	$2,450	$1.63	45d	1	1.45mi
1310 15th St N St Cloud, MN	1.0–2.0	1.0	825	$1,090	$1.32	45d	18	1.47mi
1277 15th St NE Sauk Rapids, MN	1.0–3.0	1.0–2.0	933	$1,235	$1.32	26d	1	1.48mi
800 11th St S Saint Cloud, MN	2.0–4.0	2.0	1000	$1,389	$1.39	45d	3	1.48mi

Listing history 22 events

1. 2026-04-29
   status Pending
2. 2026-04-24
   historical Contingent - Inspection
3. 2026-03-22
   price $159,000
4. 2026-03-21
   status Active
5. 2026-03-14
   historical Contingent - Inspection
6. 2026-03-03
   price $165,000
7. 2026-02-09
   listed $168,000 Active
8. 2025-08-06
   soldstatus $155,000
9. 2025-07-23
   soldstatus $155,000 Sold 807-char remark

   Show marketing remark (807 chars)

   A must see, very well maintained on the inside. Could use a little outside TLC, but overall this house is move in ready. Entering the home you will find an entry to hang up your coats & take off your shoes. Through the entry you will find enough room to have a Dinning Room & a wide open Kitchen space you could even add an Island. To the right of the Kitchen you have a hall way to 2 bedrooms, the bathroom or you can go out the backdoor. To the left of entering the front door you will find the large enough to entertain Living Room. From the living room there is a choose your space double Bedroom, use the loft for a bedroom or private office, workout room, or just an amazing game room, or you can have the loft as the bedroom & the lower area for the office, and so on. Fenced in Backyard.

10. 2025-06-27
    status Pending 807-char remark

    Show marketing remark (807 chars)

    A must see, very well maintained on the inside. Could use a little outside TLC, but overall this house is move in ready. Entering the home you will find an entry to hang up your coats & take off your shoes. Through the entry you will find enough room to have a Dinning Room & a wide open Kitchen space you could even add an Island. To the right of the Kitchen you have a hall way to 2 bedrooms, the bathroom or you can go out the backdoor. To the left of entering the front door you will find the large enough to entertain Living Room. From the living room there is a choose your space double Bedroom, use the loft for a bedroom or private office, workout room, or just an amazing game room, or you can have the loft as the bedroom & the lower area for the office, and so on. Fenced in Backyard.

11. 2025-06-24
    listed $150,000 Active 807-char remark

    Show marketing remark (807 chars)

    A must see, very well maintained on the inside. Could use a little outside TLC, but overall this house is move in ready. Entering the home you will find an entry to hang up your coats & take off your shoes. Through the entry you will find enough room to have a Dinning Room & a wide open Kitchen space you could even add an Island. To the right of the Kitchen you have a hall way to 2 bedrooms, the bathroom or you can go out the backdoor. To the left of entering the front door you will find the large enough to entertain Living Room. From the living room there is a choose your space double Bedroom, use the loft for a bedroom or private office, workout room, or just an amazing game room, or you can have the loft as the bedroom & the lower area for the office, and so on. Fenced in Backyard.

12. 2025-06-17
    historical $150,000 807-char remark

    Show marketing remark (807 chars)

    A must see, very well maintained on the inside. Could use a little outside TLC, but overall this house is move in ready. Entering the home you will find an entry to hang up your coats & take off your shoes. Through the entry you will find enough room to have a Dinning Room & a wide open Kitchen space you could even add an Island. To the right of the Kitchen you have a hall way to 2 bedrooms, the bathroom or you can go out the backdoor. To the left of entering the front door you will find the large enough to entertain Living Room. From the living room there is a choose your space double Bedroom, use the loft for a bedroom or private office, workout room, or just an amazing game room, or you can have the loft as the bedroom & the lower area for the office, and so on. Fenced in Backyard.

13. 2022-09-23
    soldstatus $130,000
14. 2022-09-19
    soldstatus $130,000 Sold 368-char remark

    Show marketing remark (368 chars)

    Step inside this newly renovated and very unique home! Renovations include new floors throughout, a remodeled bathroom, updated electrical and exterior, new kitchen appliances, and more! Another property highlight is the vaulted ceiling that allows for so much natural light! This property would also be a great one to consider for someone wanting to get into rentals.

15. 2022-08-13
    status Pending 368-char remark

    Show marketing remark (368 chars)

    Step inside this newly renovated and very unique home! Renovations include new floors throughout, a remodeled bathroom, updated electrical and exterior, new kitchen appliances, and more! Another property highlight is the vaulted ceiling that allows for so much natural light! This property would also be a great one to consider for someone wanting to get into rentals.

16. 2022-08-05
    historical Contingent - Inspection 368-char remark

    Show marketing remark (368 chars)

    Step inside this newly renovated and very unique home! Renovations include new floors throughout, a remodeled bathroom, updated electrical and exterior, new kitchen appliances, and more! Another property highlight is the vaulted ceiling that allows for so much natural light! This property would also be a great one to consider for someone wanting to get into rentals.

17. 2022-08-01
    listed $130,000 Active 368-char remark

    Show marketing remark (368 chars)

    Step inside this newly renovated and very unique home! Renovations include new floors throughout, a remodeled bathroom, updated electrical and exterior, new kitchen appliances, and more! Another property highlight is the vaulted ceiling that allows for so much natural light! This property would also be a great one to consider for someone wanting to get into rentals.

18. 2008-08-22
    soldstatus $64,425
19. 2008-07-22
    historical
20. 2008-04-08
    listed $64,900
21. 2007-06-27
    historical
22. 2007-05-24
    listed $69,900

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,382 · $115/mo
• Expected delta: +$398/yr (+$33/mo · 40.5%)

ⓘ 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 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,298
• − Mortgage interest: −$8,906
• − Property taxes: −$984
• − Insurance: −$795
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$4,625
• Taxable loss: −$1,620
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $1,480/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: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, MN
• County: Sherburne County · 120,363 people
• City population: 60,914
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 17,473
• Household income: $58,148
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1175.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 41,796 people
• By 2030: 42,497 · +1.7%
• By 2040: 43,143 · +3.2%
• By 2050: 42,809 · +2.4%
• By 2075: 39,973 · -4.4%
• By 2100: 36,969 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 17% Two or more races 9% Asian 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 6% Romanian 5% Slovak 3%
• Foreign-born: 10% · Vietnam, Canada, China
• Languages at home: 85% English-only · Spanish 3% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+35.9) · D 31.1% · R 67.0% · Other 1.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -9.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.9 2016: R+36.3 2012: R+13.7 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 220.2539
• Rent YoY: ▲ 3.79%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+127.5% since first listed

22 events — show timeline

• 2026-04-29 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-22 Price Changed $159,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-21 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-03 Price Changed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Listed $168,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-06 Sold (Public Records) $155,000 Public Records
• 2025-07-23 Sold (MLS) $155,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-24 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-17 Coming Soon $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-23 Sold (Public Records) $130,000 Public Records
• 2022-09-19 Sold (MLS) $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-05 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-01 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-08-22 Sold (MLS) $64,425 NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-08 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-06-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-24 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $984 · -8.7% YoY. Source: county tax records.