217 N Central Ave · Truman, MN 56088

$154,900

3 bd · 1.0 ba · 1,105 sqft · SingleFamily public records · 45 Days on market

Built 1925 0.26 ac lot Est $139k · 11% over

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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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• DSCR +2.2/10.0
• 1% rule +2.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

Key facts

• New flooring
• Central air
• Refreshed kitchen

Tags

• OPEN LIVING DINING SPACE
• REFRESHED KITCHEN
• DISTINCTIVE WINDOW FEATURE
• CENTRAL AIR
• NEW FLOORING
• PARTIAL ROOF REPLACEMENT

Property features AI

Finance

• Other: Lot approximately 0.258 acres (about 150 x 75); Above-grade finished area and living area listed as 1,027; Below-grade area about 645; Total building area about 1,672

Exterior

• Parking: 2-car garage (approx. 45 x 24)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; One and one-half story; Main level and upper level layout
• Construction: Asphalt roof; Block foundation; Foundation area about 645
• Exterior features: Stucco exterior; Deck

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (two on main level, one on upper level)
• Bathrooms: 1 full bath (main floor); 1 quarter bath; Basement shower only
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Kitchen window; Main floor primary bedroom
• Laundry & utility: Sump pump in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (29.7% below list).
• Recommended offer: $109k (29.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#150 in MN, #3,331 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Truman Public School District (rural): math 30% / reading 55% proficiency, ranked #343 of 467 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $65k; list at $155k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,870 (29.7% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.70% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.08%
• DSCR: 0.82
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $139,230
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 E 2nd Street South St	0.32mi	2/1.0 (-1)	1,149 (+4%)	4mo	$145,000	$126	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 21.4%
• Equity multiple: 2.73×
• Total profit: $74,939
• Equity at exit: $139,546

10-year hold

• IRR: 19.3%
• Equity multiple: 6.26×
• Total profit: $228,032
• Equity at exit: $300,937

Cash invested: $43,372 (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 56088

• Home prices YoY: 6.4%
• Active inventory: 16
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,089 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$131 /mo · $1,570/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-148

Break-even live

Break-even rent $1,276

Max offer price $128,823

Occupancy floor —

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-11
   status Pending 714-char remark

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

2. 2026-05-11
   status Pending

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

3. 2026-04-28
   historical Active Under Contract 714-char remark

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

4. 2026-04-28
   historical Contingent - Inspection

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

5. 2026-04-24
   price $154,900 714-char remark

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

6. 2026-04-24
   price $154,900

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

7. 2026-03-27
   listed $159,900 Active 714-char remark

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

8. 2026-03-27
   listed $159,900 Active

   Show marketing remark (714 chars)

   This 3-bedroom, 2-bath home blends character with recent updates. The main floor offers two bedrooms, a full bath, and an open living–dining space that flows into the refreshed kitchen. Upstairs you’ll find a large third bedroom with a distinctive window feature. Notable improvements include central air, new flooring throughout much of the home, a partial roof replacement, updated plumbing, all-new lighting and ceiling work, stainless-steel appliances, and a kitchen opened up for better flow. The property also includes a two-stall garage plus a welcoming front foyer entry and a good-sized yard. Move-in-ready updates plus classic curb appeal make this property easy to picture as your next home.

9. 2026-03-21
   historical
10. 2025-11-27
    price $159,900
11. 2025-11-27
    price $159,900
12. 2025-09-26
    listed $164,900 Active
13. 2025-06-18
    soldstatus $65,000 Sold
14. 2025-05-19
    status Pending
15. 2025-05-14
    listed $72,900 Active
16. 2000-02-23
    soldstatus $22,500
17. 1991-12-19
    soldstatus $22,500

ⓘ 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: $1,570 · $131/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$82/yr (+$7/mo · 5.3%)

ⓘ 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 ≥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: $13,064
• − Mortgage interest: −$8,677
• − Property taxes: −$1,570
• − Insurance: −$774
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$4,506
• Taxable loss: −$4,553
• Est. tax savings @ 24.0%: +$1,093
• After-tax cash flow: $-679/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: Truman Public School District
• NCES district ID: 2740680
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $51,077
• Composite: 38.94/100
• National rank: #8312
• State rank: #343 of 467 in MN

Livability — Truman

• Score: 76/100
• State rank: #150
• US rank: #3331

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Truman, MN
• Population (ZIP): 2,063

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 9% Romanian 5% Scottish 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.26%
• Current HPI: 271.5076
• 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

+588.4% since first listed

17 events — show timeline

• 2026-05-11 Pending — RASM
• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Contingent — RASM
• 2026-04-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Price Changed $154,900 RASM
• 2026-04-24 Price Changed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $159,900 RASM
• 2026-03-21 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-27 Price Changed $159,900 RASM
• 2025-11-27 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-18 Sold (MLS) $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-14 Listed $72,900 NORTHSTARMLS as Distributed by MLS Grid
• 2000-02-23 Sold (Public Records) $22,500 Public Records
• 1991-12-19 Sold (Public Records) $22,500 Public Records

Property tax history

+12.1%/yr

Latest (2025): $1,570 · +24.8% YoY. Source: county tax records.