508 Main St W · Nevis, MN 56467

$124,900

1 bd · 1.0 ba · 661 sqft · SingleFamily public records · 9 Days on market

Built 1916 6,969 sqft lot

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.3/10.0

Listing remarks MLS

Situated on a corner lot, this one-bedroom home offers a sizable kitchen, fenced in yard, spacious living room and four-season porch. Walking distance to downtown, schools and park.

Key facts

• In town location
• Storage shed
• Corner lot

Tags

• IN TOWN LOCATION
• CORNER LOT
• STORAGE SHED

Property features AI

Exterior

• Parking: No on-site parking
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; One story; Main level entry
• Construction: Frame construction; Stone foundation
• Exterior features: Storage shed; City street frontage, public maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level (approx. 7.5 x 13.3)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; No central air
• Interior features: All living facilities on one level; Living/Dining room
• Laundry & utility: Washer and Dryer on the main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (36.5% below list).
• Recommended offer: $79k (36.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#377 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: crime C-, health & safety C-, employment D+.
• Nevis Public School District (rural): math 50% / reading 62% proficiency, ranked #66 of 301 in MN (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 56 active listings in the ZIP; 27 units permitted in Hubbard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Hubbard County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $44k; list at $125k implies a 187% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,299 (36.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1916 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.63% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.04%
• DSCR: 0.73
• GRM: 13.1

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: 20.0%
• Equity multiple: 2.62×
• Total profit: $56,795
• Equity at exit: $112,520

10-year hold

• IRR: 18.3%
• Equity multiple: 6.03×
• Total profit: $176,012
• Equity at exit: $242,653

Cash invested: $34,972 (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 56467

• Home prices YoY: 10.1%
• Active inventory: 56
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $793 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$95 /mo · $1,144/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $-176

Break-even live

Break-even rent $1,016

Max offer price $93,826

Occupancy floor —

Sensitivity live

Price	-10% $-105	-5% $-141	+0% $-176	+5% $-211	+10% $-247
Rent	-10% $-239	-5% $-207	+0% $-176	+5% $-145	+10% $-113
Rate	-1.0pp $-113	-0.5pp $-144	base $-176	+0.5pp $-208	+1.0pp $-241

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $124,900 Active 9 DOM
2. 2026-06-17
   days on market $124,900 Active 8 DOM
3. 2026-06-16
   days on market $124,900 Active 7 DOM
4. 2026-06-15
   days on market $124,900 Active 6 DOM
5. 2026-06-13
   days on market $124,900 Active 4 DOM
6. 2026-06-12
   days on market $124,900 Active 3 DOM
7. 2026-06-09
   remarks 397-char remark
8. 2026-06-09
   listed $124,900 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: $1,144 · $95/mo
• Projected year-2 tax: $1,271 · $106/mo
• Expected delta: +$127/yr (+$11/mo · 11.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,516
• − Mortgage interest: −$6,996
• − Property taxes: −$1,144
• − Insurance: −$624
• − Repairs & maintenance: −$761
• − Management: −$761
• − Depreciation: −$3,633
• Taxable loss: −$4,405
• Est. tax savings @ 24.0%: +$1,057
• After-tax cash flow: $-1,054/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: Nevis Public School District
• NCES district ID: 2723370
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 62% ▼ -6.00%
• Median HH income: $47,293
• Composite: 47.46/100
• National rank: #2281
• State rank: #66 of 301 in MN

Livability — Nevis

• Score: 69/100
• State rank: #377
• US rank: #8830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nevis, MN
• Population (ZIP): 2,750

Population outlook (Hubbard County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 20,275 · -1.2%
• By 2040: 19,429 · -5.3%
• By 2050: 18,093 · -11.8%
• By 2075: 14,903 · -27.3%
• By 2100: 10,994 · -46.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Native American 2%
• Common ancestry: Portuguese 14% Scottish 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Arabic 1% Spanish 0%

Political lean MEDSL · Hubbard

• 2024 margin: Solid R (+31.5) · D 33.4% · R 64.9% · Other 1.7%
• 2008→2024 swing: -17.0pp toward R · 2008: -14.5pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+28.8 2016: R+33.6 2012: R+16.9 2008: R+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.93%
• Current HPI: 293.3438
• 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

+262.0% since first listed

5 events — show timeline

• 2026-06-08 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-12-15 Sold (MLS) $43,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-11-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-18 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-09-19 Sold (Public Records) $34,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,144 · +2.1% YoY. Source: county tax records.