141 Garner Cir · Montrose, MN 55363

$262,500

4 bd · 1.0 ba · 1,714 sqft · Townhouse public records · 1 Days on market

Built 2004 5,662 sqft lot $150/mo HOA · 7% of rent

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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 +9.3/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Appreciation +4.0/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great detached townhome finished up and down. Low association fee so you can enjoy low maintenance living! Nice location - easy access for commuting!

Key facts

• $150 HOA
• 2 garage spots
• Built 2004

Property features AI

Finance

• Financial info: Conventional financing available
• HOA & community: Member of the Verve association; Monthly association fee of $150 covering lawn care, professional management and snow removal

Exterior

• Parking: Attached garage with garage door opener; Two garage spaces; Asphalt driveway
• Utilities: City water connected; City sewer connected; Natural gas fuel; 200+ amp electric service with circuit breakers
• Home design: Residential property; One level (main level living) with finished basement; Main entry and primary bedroom on the main floor; Level topography
• Construction: Block and frame construction; Block foundation; Roof replaced/installed within last 8 years; Built with an approximate foundation area of 894 and below-grade finished area
• Exterior features: Vinyl exterior; Patio; Tree coverage - light; Underground utilities; City street with curbs and paved streets; Street lights and storm sewer; Roads maintained by association and public

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Kitchen window
• Bedrooms: Four bedrooms total; Main level bedroom(s) and lower level bedroom(s)
• Bathrooms: One full bathroom on the main floor; One three-quarter bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement with daylight/lookout windows, egress window(s), drain tile, sump pump and storage space; Natural woodwork; In-ground sprinkler; Breakfast area / eat-in kitchen / informal dining; Main floor primary bedroom and main floor bedroom
• Laundry & utility: Washer and dryer hookups (lower level / basement); Electric dryer hookup; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $262k.

Deal economics

• At list price, monthly cash flow is $-191 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (20.2% below list).
• Recommended offer: $210k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.9% in Montrose — 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 65/100 on livability (#522 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• Buffalo-Hanover-Montrose Public Schools (town): math 52% / reading 56% proficiency, ranked #63 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,260 units permitted in Wright County in 2024 (180 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wright County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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 $80k; list at $262k implies a 228% gain — meaningful room to come down on a strong offer.

Recommended offer $209,500 (20.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.80% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.40×
• Total profit: $-44,047
• Equity at exit: $50,446

10-year hold

• IRR: -8.0%
• Equity multiple: 0.40×
• Total profit: $-44,387
• Equity at exit: $42,602

Cash invested: $73,500 (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 55363

• Home prices YoY: -0.7%
• Active inventory: 48
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$1,377
• Tax from tax record: −$210 /mo · $2,526/yr
• Insurance: −$109
• HOA: −$150
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-191

Break-even live

Break-even rent $2,337

Max offer price $228,688

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-117	+0% $-191	+5% $-266	+10% $-340
Rent	-10% $-357	-5% $-274	+0% $-191	+5% $-109	+10% $-26
Rate	-1.0pp $-59	-0.5pp $-125	base $-191	+0.5pp $-259	+1.0pp $-329

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: $65,625
• Closing costs: $7,875
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 61st St SW Waverly, MN	3.0	1.0	1600	$2,095	$1.31	11d	1	1.23mi

HOA detail

• Monthly dues: $150 · $1,800/yr

Listing history 2 events

1. 2026-06-10
   remarks 407-char remark
2. 2026-06-10
   listed $262,500 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: $2,526 · $210/mo
• Projected year-2 tax: $2,733 · $228/mo
• Expected delta: +$207/yr (+$17/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 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: $25,140
• − Mortgage interest: −$14,704
• − Property taxes: −$2,526
• − Insurance: −$1,312
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − HOA: −$1,800
• − Depreciation: −$7,636
• Taxable loss: −$6,861
• Est. tax savings @ 24.0%: +$1,647
• After-tax cash flow: $-650/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: Buffalo-Hanover-Montrose Public Schools
• NCES district ID: 2707200
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 56% ▼ -9.00%
• Median HH income: $72,549
• Composite: 48.25/100
• National rank: #2159
• State rank: #63 of 301 in MN

Livability — Montrose

• Score: 65/100
• State rank: #522
• US rank: #12593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montrose, MN
• Population (ZIP): 5,664

Population outlook (Wright County) Hauer SSP2

• Today (2025): 142,526 people
• By 2030: 146,915 · +3.1%
• By 2040: 153,625 · +7.8%
• By 2050: 155,416 · +9.0%
• By 2075: 150,352 · +5.5%
• By 2100: 130,631 · -8.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 16% Hispanic / Latino 11% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 11% Romanian 6% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · Wright

• 2024 margin: Strong R (+29.4) · D 34.4% · R 63.8% · Other 1.8%
• 2008→2024 swing: -11.9pp toward R · 2008: -17.4pp · 2024: -29.4pp
• All cycles: 2024: R+29.4 2020: R+28.6 2016: R+33.2 2012: R+21.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.05%
• Current HPI: 280.9111
• 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

+57.2% since first listed

9 events — show timeline

• 2026-06-09 Listed $262,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-30 Sold (MLS) $79,950 NORTHSTARMLS as Distributed by MLS Grid
• 2011-08-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-21 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-12-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-02 Listed $158,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-01 Sold (MLS) $149,500 NORTHSTARMLS as Distributed by MLS Grid
• 2006-07-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-06-12 Listed $167,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $2,526 · -13.5% YoY. Source: county tax records.