710 6th St SW · Wells, MN 56097

$145,000

3 bd · 1.0 ba · 1,296 sqft · Other public records · 5 Days on market

Built 1959 10,454 sqft lot

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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).

• Cash flow +10.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

Key facts

• Decks on the front
• Extra deep garage
• Decks on the back

Tags

• WATER PURIFICATION SYSTEM
• FULL LAUNDRY HOOK UPS
• EXTRA DEEP GARAGE
• DECKS ON THE BACK
• DECKS ON THE FRONT

Property features AI

Exterior

• Parking: Concrete driveway; Multiple garages, 3 garage spaces
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One level
• Construction: Block foundation
• Exterior features: Vinyl exterior; Lot approximately 0.24 acres (75 x 139)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (main level: bedroom, bedroom 2, bedroom 3); Bedroom 4
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement with block foundation; Family room
• Laundry & utility: Two utility rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (20.0% below list).
• Recommended offer: $116k (20.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#149 in MN, #3,328 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities D, employment D, commute F.
• United South Central School District (rural): math 46% / reading 53% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: United South Central Elementary (math 57% / reading 59%, grade C+, #258 of 857 statewide, top 30%, 445 students, 55% FRL); United South Central High School (math 32% / reading 47%, grade F, #246 of 471 statewide, top 59%, 333 students, 51% FRL) — zoned schools average 53% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 28 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,065 (20.0% 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 1959 — 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. 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?
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: 0.80% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 10.4

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: 22.5%
• Equity multiple: 2.81×
• Total profit: $73,565
• Equity at exit: $130,627

10-year hold

• IRR: 20.2%
• Equity multiple: 6.44×
• Total profit: $220,937
• Equity at exit: $281,703

Cash invested: $40,600 (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 56097

• Home prices YoY: 4.6%
• Active inventory: 28
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,161 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $-85

Break-even live

Break-even rent $1,268

Max offer price $132,679

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-35	+0% $-85	+5% $-135	+10% $-185
Rent	-10% $-177	-5% $-131	+0% $-85	+5% $-39	+10% $7
Rate	-1.0pp $-12	-0.5pp $-48	base $-85	+0.5pp $-123	+1.0pp $-161

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-07
   status Pending 652-char remark
2. 2026-05-01
   listed $145,000 Active 652-char remark
3. 2019-07-08
   soldstatus $115,000
4. 2009-03-05
   soldstatus $22,500 101-char remark

   Show marketing remark (102 chars)

   3 bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

5. 2009-03-05
   soldstatus $22,500

   Show marketing remark (102 chars)

   3 bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

6. 2009-01-27
   historical 101-char remark

   Show marketing remark (101 chars)

   3bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

7. 2009-01-12
   listed $22,500 101-char remark

   Show marketing remark (102 chars)

   3 bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

8. 2009-01-12
   listed $22,500

   Show marketing remark (102 chars)

   3 bedroom, 1bath rambler. Needs some TLC. Lots of potential here. Great location, big garage and deck.

9. 1996-12-30
   soldstatus $35,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,928
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$4,218
• Taxable loss: −$3,541
• Est. tax savings @ 24.0%: +$850
• After-tax cash flow: $-172/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: United South Central School District
• NCES district ID: 2700005
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $46,722
• Composite: 42.03/100
• National rank: #3330
• State rank: #130 of 301 in MN

Livability — Wells

• Score: 76/100
• State rank: #149
• US rank: #3328

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wells, MN
• Population (ZIP): 3,593

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 13% Romanian 7% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.75%
• Current HPI: 267.13
• 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

+328.6% since first listed

11 events — show timeline

• 2026-06-04 Sold (Public Records) $150,000 Public Records
• 2026-05-28 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-08 Sold (Public Records) $115,000 Public Records
• 2009-03-05 Sold (MLS) $22,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-03-05 Sold (MLS) $22,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-12 Listed $22,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-01-12 Listed $22,500 NORTHSTARMLS as Distributed by MLS Grid
• 1996-12-30 Sold (Public Records) $35,000 Public Records

Property tax history

-18.4%/yr

Latest (2025): $69 · +0.0% YoY. Source: county tax records.