1433 1st Ave NE · Glenwood, MN 56334

$99,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 2 Days on market

Built 1896 7,492 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Appreciation +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investment Opportunity with Dual Living Spaces! Unlock the potential of this unique property featuring two separate living spaces on one parcel. The main home offers 3 bedrooms and 1 bathroom, providing comfortable living space for a family or tenant. The second unit features 1 bedroom, 1 bathroom, and a large attached garage, making it ideal as a guest house, rental unit, home business space, or private living quarters. Whether you're looking for an income-producing property, a multi-generational living arrangement, or the opportunity to live in one unit while renting out the other, this property offers flexibility to fit a variety of needs. While the property will benefit from some updat

Key facts

• Dual living spaces
• 7,492 sq ft lot
• Garage

Tags

• DUAL LIVING SPACES
• TWO SEPARATE LIVING SPACES
• LARGE ATTACHED GARAGE
• INCOME-PRODUCING PROPERTY
• STRONG INVESTMENT POTENTIAL

Property features AI

Exterior

• Parking: Attached garage (1 stall); Garage dimensions 22 x 40; Garage door 8' wide x 7' high
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One and one half levels; Above-grade finished area 1,044 sq ft; Below-grade area 720 sq ft; Total building area 1,764 sq ft
• Construction: Built on block foundation; Foundation dimensions 30 x 24
• Exterior features: Vinyl exterior; Lot approximately 0.172 acres (dimensions: 50 x 150 x 50 x 150)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Boiler heating; Forced air heating; No central air
• Interior features: Unfinished basement; Block foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $770 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 15.6% vs local median 4.6% in Glenwood — 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 70/100 on livability (#336 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety D+, amenities F.
• Minnewaska School District (rural): math 55% / reading 51% proficiency, ranked #87 of 301 in MN (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 54 active listings in the ZIP; 41 units permitted in Pope County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.9%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pope County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1896 — 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: 1.83% ✓
• Cap rate: 15.63%
• Cash-on-cash: 33.34%
• DSCR: 2.48
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 2.20×
• Total profit: $33,266
• Equity at exit: $15,024

10-year hold

• IRR: 36.0%
• Equity multiple: 4.33×
• Total profit: $92,381
• Equity at exit: $9,013

Cash invested: $27,720 (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 56334

• Home prices YoY: -0.9%
• Active inventory: 54
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,807 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$97 /mo · $1,166/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $770

Break-even live

Break-even rent $832

Max offer price $99,000

Occupancy floor 52%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $99,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $99,000 Active 1 DOM

ⓘ 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: $1,166 · $97/mo
• Projected year-2 tax: $1,166 · $97/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 ≥97°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: $21,687
• − Mortgage interest: −$5,546
• − Property taxes: −$1,166
• − Insurance: −$495
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$2,880
• Taxable income: $8,130
• Est. tax owed @ 24.0%: −$1,951
• After-tax cash flow: $7,290/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: Minnewaska School District
• NCES district ID: 2700019
• Math proficiency: 55% ▼ -6.00%
• Reading proficiency: 51% ▼ -10.00%
• Median HH income: $51,589
• Composite: 45.45/100
• National rank: #2617
• State rank: #87 of 301 in MN

Livability — Glenwood

• Score: 70/100
• State rank: #336
• US rank: #7740

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenwood, MN
• Population (ZIP): 5,791

Population outlook (Pope County) Hauer SSP2

• Today (2025): 10,898 people
• By 2030: 10,765 · -1.2%
• By 2040: 10,369 · -4.9%
• By 2050: 9,818 · -9.9%
• By 2075: 8,532 · -21.7%
• By 2100: 6,700 · -38.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 30% Lithuanian 3% Iranian 3%
• Foreign-born: 1% · Vietnam
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Pope

• 2024 margin: Solid R (+31.7) · D 33.4% · R 65.0% · Other 1.6%
• 2008→2024 swing: -35.5pp toward R · 2008: 3.8pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+27.6 2016: R+26.8 2012: R+2.6 2008: D+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.94%
• Current HPI: 333.52
• 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

1 event — show timeline

• 2026-06-17 Listed $99,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2026): $1,166 · +13.4% YoY. Source: county tax records.