109 Main St E · Spring Hill, MN 56352

$169,000

4 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 57 Days on market

Built 1940 0.26 ac lot

---

Why this score? — see what drove the C 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 +17.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 1.5-story in the heart of Spring Hill! This move-in ready property offers 4 bedrooms, 1 full bath + a 1-car garage, perfectly situated on a great lot with peaceful field views! Inside, you’ll find an open + bright main level with hardwood floors throughout, a beautifully updated kitchen with granite counters, stainless steel appliances + updated cabinets. The upper level boasts brand new carpet in the bedrooms along with new LVP flooring in the upper hallway + laundry room for a fresh, modern feel. Enjoy small-town living in this home that is move in ready!

Key facts

• Open main level
• Updated kitchen
• Peaceful field views

Tags

• PEACEFUL FIELD VIEWS
• OPEN MAIN LEVEL
• HARDWOOD FLOORS
• UPDATED KITCHEN
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/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 $147k (13.1% below list).
• Recommended offer: $147k (13.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#563 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D+, schools F, amenities F.
• Melrose Public School District (rural): math 45% / reading 50% proficiency, ranked #142 of 301 in MN (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 661 units permitted in Stearns County in 2024 (291 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Stearns County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $95k; list at $169k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,856 (13.1% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.8%
• Equity multiple: 3.13×
• Total profit: $100,732
• Equity at exit: $152,249

10-year hold

• IRR: 23.4%
• Equity multiple: 7.12×
• Total profit: $289,618
• Equity at exit: $328,330

Cash invested: $47,320 (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 56352

• Home prices YoY: 6.1%
• Active inventory: 31
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,469 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$66 /mo · $792/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $137

Break-even live

Break-even rent $1,295

Max offer price $169,000

Occupancy floor 86%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $169,000 Active 57 DOM
2. 2026-06-17
   days on market $169,000 Active 56 DOM
3. 2026-06-16
   days on market $169,000 Active 55 DOM
4. 2026-06-15
   days on market $169,000 Active 54 DOM
5. 2026-06-13
   days on market $169,000 Active 52 DOM
6. 2026-06-12
   days on market $169,000 Active 51 DOM
7. 2026-06-09
   days on market $169,000 Active 48 DOM
8. 2026-06-08
   days on market $169,000 Active 47 DOM
9. 2026-06-07
   days on market $169,000 Active 46 DOM
10. 2026-06-07
    days on market $169,000 Active 45 DOM
11. 2026-06-04
    days on market $169,000 Active 42 DOM
12. 2026-06-02
    days on market $169,000 Active 41 DOM
13. 2026-06-01
    days on market $169,000 Active 40 DOM
14. 2026-05-31
    days on market $169,000 Active 39 DOM
15. 2026-05-31
    days on market $169,000 Active 38 DOM
16. 2026-04-22
    listed $169,000 Active 578-char remark

    Show marketing remark (578 chars)

    Charming 1.5-story in the heart of Spring Hill! This move-in ready property offers 4 bedrooms, 1 full bath + a 1-car garage, perfectly situated on a great lot with peaceful field views! Inside, you’ll find an open + bright main level with hardwood floors throughout, a beautifully updated kitchen with granite counters, stainless steel appliances + updated cabinets. The upper level boasts brand new carpet in the bedrooms along with new LVP flooring in the upper hallway + laundry room for a fresh, modern feel. Enjoy small-town living in this home that is move in ready!

17. 2026-02-16
    historical
18. 2025-10-31
    price $175,000
19. 2025-08-20
    listed $185,000 Active
20. 2020-03-27
    soldstatus $95,000
21. 2010-07-23
    soldstatus $27,300
22. 2010-07-07
    historical
23. 2010-05-10
    listed $37,900
24. 2010-02-18
    listed $44,900
25. 2010-02-18
    listed $44,900
26. 2009-10-01
    historical
27. 2008-07-24
    listed $84,900
28. 2007-11-15
    soldstatus $81,450
29. 2007-10-30
    soldstatus $81,450
30. 2007-10-11
    historical
31. 2007-05-22
    listed $79,900
32. 2001-12-07
    soldstatus $40,000

ⓘ 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: $792 · $66/mo
• Projected year-2 tax: $1,342 · $112/mo
• Expected delta: +$550/yr (+$46/mo · 69.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,623
• − Mortgage interest: −$9,467
• − Property taxes: −$792
• − Insurance: −$845
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$4,916
• Taxable loss: −$1,217
• Est. tax savings @ 24.0%: +$292
• After-tax cash flow: $1,942/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: Melrose Public School District
• NCES district ID: 2720550
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $55,833
• Composite: 41.26/100
• National rank: #3525
• State rank: #142 of 301 in MN

Livability — Spring Hill

• Score: 65/100
• State rank: #563
• US rank: #13559

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: Spring Hill, MN
• Population (ZIP): 5,955

Population outlook (Stearns County) Hauer SSP2

• Today (2025): 162,629 people
• By 2030: 166,495 · +2.4%
• By 2040: 172,661 · +6.2%
• By 2050: 177,480 · +9.1%
• By 2075: 192,907 · +18.6%
• By 2100: 206,274 · +26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 12% Two or more races 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 4% Romanian 4% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 1%

Political lean MEDSL · Stearns

• 2024 margin: Strong R (+26.8) · D 35.7% · R 62.5% · Other 1.9%
• 2008→2024 swing: -19.8pp toward R · 2008: -7.0pp · 2024: -26.8pp
• All cycles: 2024: R+26.8 2020: R+22.5 2016: R+27.9 2012: R+12.1 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.62%
• Current HPI: 410.59
• 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

+322.5% since first listed

17 events — show timeline

• 2026-04-22 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-31 Price Changed $175,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-20 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-27 Sold (Public Records) $95,000 Public Records
• 2010-07-23 Sold (MLS) $27,300 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-05-10 Listed $37,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-18 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-18 Listed $44,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-24 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-11-15 Sold (Public Records) $81,450 Public Records
• 2007-10-30 Sold (MLS) $81,450 NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-05-22 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2001-12-07 Sold (Public Records) $40,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $792 · -2.9% YoY. Source: county tax records.