124 Park Ave SW · Silver Lake, MN 55381

$85,000

2 bd · 1.0 ba · 818 sqft · SingleFamily public records · 26 Days on market

Built 1890 8,842 sqft 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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits for those with vision! Bring your ideas —this property is ready for its next chapter. Corner lot in the heart of Silver Lake. Home features main floor bedroom, bath and laundry. Large kitchen. Peekaboo views of the lake. I & I complete. Forced air furnace. Window AC. Appliances included.

Key facts

• Large kitchen
• Bath and laundry
• Main floor bedroom

Tags

• CORNER LOT
• PEEKABOO VIEWS
• LARGE KITCHEN
• MAIN FLOOR BEDROOM
• BATH AND LAUNDRY

Property features AI

Finance

• Financial info: Annual taxes listed (see agent/broker for details)

Exterior

• Parking: Detached or attached 2-car garage (12x20; garage door 9' wide x 7' high)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential property; One and one-half stories; Main entry on main level
• Construction: Asphalt roof (older than 8 years); Other construction materials; Foundation: stone/other (32x24 foundation area)
• Exterior features: Enclosed rear porch; Screened porch; Rear porch; Wood exterior; Storage shed; Corner lot with 86x103 dimensions; City street frontage (publicly maintained)

Interior

• Kitchen: Range; Refrigerator; Kitchen window; Eat-in kitchen layout
• Bedrooms: 2 bedrooms (one on main level, one on upper level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Main floor full bathroom; Eat-in kitchen; Main floor bedroom; Main floor laundry; Water softener (rented)
• Laundry & utility: Washer and dryer hookups on main level; Electric water heater; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#381 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: health & safety D+, amenities F, commute F.
• Glencoe-Silver Lake School District (town): math 40% / reading 44% proficiency, ranked #200 of 301 in MN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 57 units permitted in McLeod County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McLeod County population projected at -20% 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $85k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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. 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?
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: 1.28% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.41%
• DSCR: 1.64
• GRM: 6.5

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: 4.8%
• Equity multiple: 1.19×
• Total profit: $4,437
• Equity at exit: $12,674

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $27,341
• Equity at exit: $7,349

Cash invested: $23,800 (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 55381

• Home prices YoY: -14.0%
• Active inventory: 12
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $286

Break-even live

Break-even rent $730

Max offer price $85,000

Occupancy floor 69%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-12
   status $85,000 Pending 26 DOM
2. 2026-06-09
   days on market $85,000 Active 26 DOM
3. 2026-06-09
   days on market $85,000 Active 25 DOM
4. 2026-06-07
   days on market $85,000 Active 24 DOM
5. 2026-06-07
   days on market $85,000 Active 23 DOM
6. 2026-06-04
   days on market $85,000 Active 20 DOM
7. 2026-06-02
   days on market $85,000 Active 19 DOM
8. 2026-06-01
   days on market $85,000 Active 18 DOM
9. 2026-05-31
   days on market $85,000 Active 17 DOM
10. 2026-05-31
    days on market $85,000 Active 16 DOM
11. 2026-05-14
    listed $85,000 Active 316-char remark
12. 2015-03-05
    soldstatus $25,000

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,148 · $96/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,103
• − Mortgage interest: −$4,761
• − Property taxes: −$1,148
• − Insurance: −$425
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,473
• Taxable income: $2,199
• Est. tax owed @ 24.0%: −$528
• After-tax cash flow: $2,901/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: Glencoe-Silver Lake School District
• NCES district ID: 2700128
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 44% ▼ -16.00%
• Median HH income: $57,999
• Composite: 36.91/100
• National rank: #4540
• State rank: #200 of 301 in MN

Livability — Silver Lake

• Score: 69/100
• State rank: #381
• US rank: #8952

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Silver Lake, MN
• Population (ZIP): 2,001

Population outlook (McLeod County) Hauer SSP2

• Today (2025): 34,517 people
• By 2030: 33,442 · -3.1%
• By 2040: 30,815 · -10.7%
• By 2050: 27,695 · -19.8%
• By 2075: 21,923 · -36.5%
• By 2100: 17,237 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 16% Portuguese 7% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · McLeod

• 2024 margin: Solid R (+38.0) · D 30.2% · R 68.1% · Other 1.7%
• 2008→2024 swing: -19.6pp toward R · 2008: -18.3pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+36.2 2016: R+38.4 2012: R+22.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.25%
• Current HPI: 247.9315
• 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

+240.0% since first listed

3 events — show timeline

• 2026-06-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-05 Sold (Public Records) $25,000 Public Records

Property tax history

+3.8%/yr

Latest (2026): $1,148 · +20.1% YoY. Source: county tax records.