65 Eldredge St E · Motley, MN 56466

$34,900

2 bd · 1.5 ba · 580 sqft · SingleFamily public records · 25 Days on market

Built 1940 6,795 sqft lot ↓ 30% since listing

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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
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.6/10.0

Listing remarks

This two bedroom, one bath home in Motley is perfect for a starter home or your next rental! The property features a porch, gravel driveway for parking, and close to all the amenities Motley has to offer! Don't miss out on this great opportunity, Schedule Your Showing Today!

Key facts

• 6,795 sq ft lot
• Built 1940
• Listed 25 days

Property features AI

Finance

• Other: Porch listed as an amenity

Exterior

• Parking: Gravel parking
• Utilities: City water (connected); City sewer (connected); Electric fuel
• Home design: Residential property; One-story; Main entry on main level
• Construction: Block and frame construction; Asphalt roof; Block foundation; Built on a foundation approximately 20x36
• Exterior features: Side porch; Wood exterior; Light tree coverage on the lot; City street frontage; Public maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms on the main level; Bedroom sizes approximately 9x8 and 8x11
• Bathrooms: One full bathroom on the main level (approx. 8x6)
• Heating & cooling: Baseboard heating; No cooling
• Interior features: Main floor full bathroom; Kitchen/Dining room layout; Foyer
• Laundry & utility: No laundry room (none listed)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#393 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools D, amenities F, commute F.
• Staples-Motley School District (rural): math 37% / reading 39% proficiency, ranked #238 of 301 in MN (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 47 active listings in the ZIP; 179 units permitted in Morrison County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morrison 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.30% ✓
• Cap rate: 19.19%
• Cash-on-cash: 46.06%
• DSCR: 3.05
• GRM: 3.6

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: 43.3%
• Equity multiple: 2.87×
• Total profit: $18,256
• Equity at exit: $5,204

10-year hold

• IRR: 49.4%
• Equity multiple: 5.78×
• Total profit: $46,749
• Equity at exit: $3,018

Cash invested: $9,772 (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 56466

• Home prices YoY: -3.8%
• Active inventory: 47
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $801 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $375

Break-even live

Break-even rent $326

Max offer price $34,900

Occupancy floor 48%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   status $34,900 Pending 25 DOM
2. 2026-06-08
   days on market $34,900 Active 25 DOM
3. 2026-06-07
   days on market $34,900 Active 24 DOM
4. 2026-06-07
   days on market $34,900 Active 23 DOM
5. 2026-06-04
   days on market $34,900 Active 20 DOM
6. 2026-06-02
   days on market $34,900 Active 19 DOM
7. 2026-06-01
   price $34,900 Active 18 DOM
8. 2026-06-01
   days on market $49,900 Active 18 DOM
9. 2026-05-31
   days on market $49,900 Active 17 DOM
10. 2026-05-31
    days on market $49,900 Active 16 DOM
11. 2026-05-14
    status Active 275-char remark
12. 2026-05-01
    status Pending 275-char remark
13. 2026-04-29
    historical $49,900 275-char remark

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $722 · $60/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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 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: $9,612
• − Mortgage interest: −$1,955
• − Property taxes: −$722
• − Insurance: −$174
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$1,015
• Taxable income: $4,208
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $3,491/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: Staples-Motley School District
• NCES district ID: 2733900
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $41,979
• Composite: 32.07/100
• National rank: #5816
• State rank: #238 of 301 in MN

Livability — Motley

• Score: 68/100
• State rank: #393
• US rank: #9317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Motley, MN
• Population (ZIP): 3,126

Population outlook (Morrison County) Hauer SSP2

• Today (2025): 31,479 people
• By 2030: 30,414 · -3.4%
• By 2040: 27,935 · -11.3%
• By 2050: 25,229 · -19.9%
• By 2075: 20,093 · -36.2%
• By 2100: 16,173 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Portuguese 14% Romanian 4% Scottish 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Morrison

• 2024 margin: Solid R (+56.0) · D 21.2% · R 77.3% · Other 1.5%
• 2008→2024 swing: -37.0pp toward R · 2008: -19.0pp · 2024: -56.0pp
• All cycles: 2024: R+56.0 2020: R+53.5 2016: R+53.0 2012: R+24.0 2008: R+19.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.77%
• Current HPI: 223.5756
• 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

-30.1% since first listed

5 events — show timeline

• 2026-06-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Coming Soon $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $722 · -5.2% YoY. Source: county tax records.