712 8th Ave SE · Rochester, MN 55904

$221,999

3 bd · 2.0 ba · 816 sqft · MultiFamily public records · 27 Days on market

Built 1920 6,577 sqft lot

---

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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex located in a quiet residential area. New windows, doors, vinyl siding, insulation, furnance, and water heater in 1989. New garage doors in 1998. Enclosed front porch. Roof is 1 yr old, windows are up to code. Renter pays electric.

Key facts

• Turnkey duplex
• Separate laundry
• Updated bathrooms

Tags

• TURNKEY DUPLEX
• STRONG RENTAL HISTORY
• ORIGINAL HARDWOOD FLOORS
• UPDATED KITCHENS
• UPDATED BATHROOMS
• SEPARATE LAUNDRY

Property features AI

Finance

• Financial info: Property configured as 2 units; Gross income reported at $25,380; Owner pays water and sewer; Insurance expense listed at $1,400; Maintenance expense listed at $1,250; Other expense listed at $1,250; Water/sewer expense listed at $780; Tenants pay electricity, gas, lawn care, snow removal, and trash collection

Exterior

• Parking: Detached or attached 2-car garage
• Utilities: City water; City sewer; Electric and natural gas service
• Home design: Residential income property — duplex (up and down); Two-story
• Construction: Stone foundation; Foundation area about 612
• Exterior features: Lot approximately 0.151 acres (50 x 132); Above-grade finished living area about 1,428; Below-grade area about 612; Total building area about 2,040; Stone foundation

Interior

• Bedrooms: 4 total bedrooms; Each unit includes 2 bedrooms
• Bathrooms: 2 full bathrooms (one in each unit)
• Heating & cooling: Baseboard heating; Forced air heating
• Interior features: Unfinished basement; Two levels

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $222k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $222k).
• Recommended offer: $219k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.5% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Riverside Central Elementary (math 12% / reading 22%, grade F, #771 of 857 statewide, top 91%, 417 students, 79% FRL); Mayo Senior High (math 42% / reading 65%, grade C-, #104 of 471 statewide, top 22%, 1,862 students, 31% FRL) — zoned schools average 55% FRL vs 31% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 149 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).
• This rent runs 44% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $37k; list at $222k implies a 502% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,669 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.39%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.1% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $2,468
• Equity at exit: $33,101

10-year hold

• IRR: 9.8%
• Equity multiple: 1.72×
• Total profit: $44,929
• Equity at exit: $19,194

Cash invested: $62,160 (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 55904

• Rents YoY: 2.1%
• Active inventory: 149
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,806 medium
• Mortgage (P&I): −$1,164
• Tax from tax record: −$318 /mo · $3,816/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $642

Break-even live

Break-even rent $1,993

Max offer price $221,999

Occupancy floor 72%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,806
Total (2 units)			$2,806

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: $55,500
• Closing costs: $6,660
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 13th Ave SE Rochester, MN	2.0	1.0	850	$1,550	$1.82	43d	1	0.28mi
524 10th St SE Rochester, MN	2.0	1.0	850	$1,475	$1.74	43d	1	0.41mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	13d	40	0.59mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	43d	1	0.62mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	13d	91	0.65mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,795	$2.77	13d	26	0.79mi
1902 8 1/2 St SE Unit Andover 1902-D Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	0.84mi
2016 8 1/2 St SE Unit Andover 2016-A Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	0.88mi
504 14th St SE #6 Rochester, MN	2.0	1.0	725	$995	$1.37	43d	1	0.90mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	13d	22	0.96mi
400 1st Ave NW Rochester, MN	1.0–2.0	1.0–2.0	819	$1,510	$1.84	13d	7	1.01mi
1537 6th Ave SE Unit 1523-D Rochester, MN	2.0	1.0	800	$975	$1.22	13d	1	1.06mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,295	$2.53	13d	3	1.07mi
28 7th St NE Rochester, MN	2.0	1.0–2.0	789	$2,750	$3.49	21d	18	1.08mi
625 3rd St SW Rochester, MN	1.0–2.0	1.0	612	$1,395	$2.28	13d	3	1.09mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,400	$1.94	13d	4	1.10mi
2041 14th St SE Rochester, MN	2.0	1.0	1012	$1,700	$1.68	21d	1	1.21mi
1505 Marion Rd SE Rochester, MN	1.0–3.0	1.0–2.0	864	$1,630	$1.89	13d	1	1.25mi
1732 2nd Ave SE Rochester, MN	2.0	1.0	780	$1,450	$1.86	13d	1	1.38mi

Listing history 28 events

1. 2026-06-19
   days on market $221,999 Active 27 DOM
2. 2026-06-18
   days on market $221,999 Active 26 DOM
3. 2026-06-17
   days on market $221,999 Active 25 DOM
4. 2026-06-16
   days on market $221,999 Active 24 DOM
5. 2026-06-15
   days on market $221,999 Active 23 DOM
6. 2026-06-14
   days on market $221,999 Active 21 DOM
7. 2026-06-13
   days on market $221,999 Active 20 DOM
8. 2026-06-10
   days on market $221,999 Active 18 DOM
9. 2026-06-09
   days on market $221,999 Active 17 DOM
10. 2026-06-08
    days on market $221,999 Active 16 DOM
11. 2026-06-07
    days on market $221,999 Active 15 DOM
12. 2026-06-05
    days on market $221,999 Active 12 DOM
13. 2026-06-03
    days on market $221,999 Active 11 DOM
14. 2026-06-02
    days on market $221,999 Active 10 DOM
15. 2026-06-01
    days on market $221,999 Active 9 DOM
16. 2026-05-31
    days on market $221,999 Active 8 DOM
17. 2026-05-30
    days on market $221,999 Active 7 DOM
18. 2026-05-23
    listed $221,999 Active
19. 2025-05-05
    historical
20. 2025-04-28
    price $217,999
21. 2025-04-03
    listed $237,450 Active
22. 2020-07-29
    soldstatus $36,903
23. 2002-12-03
    soldstatus $93,900 238-char remark

    Show marketing remark (238 chars)

    Duplex located in a quiet residential area. New windows, doors, vinyl siding, insulation, furnance, and water heater in 1989. New garage doors in 1998. Enclosed front porch. Roof is 1 yr old, windows are up to code. Renter pays electric.

24. 2002-12-03
    soldstatus $93,900

    Show marketing remark (238 chars)

    Duplex located in a quiet residential area. New windows, doors, vinyl siding, insulation, furnance, and water heater in 1989. New garage doors in 1998. Enclosed front porch. Roof is 1 yr old, windows are up to code. Renter pays electric.

25. 2002-11-07
    historical 238-char remark

    Show marketing remark (238 chars)

    Duplex located in a quiet residential area. New windows, doors, vinyl siding, insulation, furnance, and water heater in 1989. New garage doors in 1998. Enclosed front porch. Roof is 1 yr old, windows are up to code. Renter pays electric.

26. 2002-09-25
    listed $93,900 238-char remark

    Show marketing remark (238 chars)

    Duplex located in a quiet residential area. New windows, doors, vinyl siding, insulation, furnance, and water heater in 1989. New garage doors in 1998. Enclosed front porch. Roof is 1 yr old, windows are up to code. Renter pays electric.

27. 2001-07-27
    listed $83,500
28. 2001-07-27
    historical

ⓘ 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: $3,816 · $318/mo
• Projected year-2 tax: $3,816 · $318/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 ≥98°F today · 15 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: $33,672
• − Mortgage interest: −$12,435
• − Property taxes: −$3,816
• − Insurance: −$1,110
• − Repairs & maintenance: −$2,694
• − Management: −$2,694
• − Depreciation: −$6,458
• Taxable income: $4,465
• Est. tax owed @ 24.0%: −$1,072
• After-tax cash flow: $6,633/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 29,639
• Household income: $77,016
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 864.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 11% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.04%
• Current HPI: 267.168
• Rent YoY: ▲ 2.10%
• Metro: Rochester, MN
• 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

+165.9% since first listed

11 events — show timeline

• 2026-05-23 Listed $221,999 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-28 Price Changed $217,999 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-03 Listed $237,450 NORTHSTARMLS as Distributed by MLS Grid
• 2020-07-29 Sold (Public Records) $36,903 Public Records
• 2002-12-03 Sold (Public Records) $93,900 Public Records
• 2002-12-03 Sold (MLS) $93,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-11-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-09-25 Listed $93,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-27 Listed $83,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $3,816 · +4.9% YoY. Source: county tax records.