16 10th St NE · Rochester, MN 55906

$175,000

2 bd · 2.0 ba · 756 sqft · SingleFamily public records · 160 Days on market

Built 1900 6,229 sqft lot $231/sqft · at area comps Est $270k · 35% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Rent growth +4.8/5.0
• DSCR +4.6/10.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

Key facts

• Close to mayo clinic
• Heart of downtown
• 6,229 sq ft lot

Tags

• PRIME BUSINESS LOCATION
• CLOSE TO MAYO CLINIC
• WALKING DISTANCE TO SHOPPING
• HEART OF DOWNTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $54 ($651/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 $156k (11.0% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.5% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.2%/yr); 218 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $175k implies a 379% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 0.89% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $270,099
• List price: $175,000
• Delta: -35.21%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
916 12th Ave NE	0.74mi	2/1.0	700 (-7%)	18mo	$120,000	$171	34

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.66×
• Total profit: $-16,668
• Equity at exit: $26,093

10-year hold

• IRR: 6.2%
• Equity multiple: 1.56×
• Total profit: $27,403
• Equity at exit: $15,131

Cash invested: $49,000 (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 55906

• Home prices YoY: -33.0%
• Rents YoY: 9.2%
• Active inventory: 218
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$918
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $54

Break-even live

Break-even rent $1,488

Max offer price $175,000

Occupancy floor 92%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 7th St NE Rochester, MN	2.0	1.0–2.0	789	$2,750	$3.49	20d	18	0.20mi
204 13th St NW Rochester, MN	2.0	1.0	705	$1,208	$1.71	13d	4	0.28mi
226 13th St NW Unit 27 Rochester, MN	2.0	1.0	705	$1,120	$1.59	20d	1	0.32mi
400 1st Ave NW Rochester, MN	1.0–2.0	1.0–2.0	819	$1,510	$1.84	13d	7	0.38mi
538 4th Ave NW Rochester, MN	1.0	1.0	940	$1,450	$1.54	13d	1	0.39mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	13d	22	0.41mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$2,670	$2.29	13d	40	0.69mi
504 E Center St Unit 2 Rochester, MN	1.0	1.0	675	$800	$1.19	43d	1	0.73mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,430	$1.50	13d	6	0.79mi
28 6th Ave SE Unit 3 Rochester, MN	1.0	1.0	650	$1,050	$1.62	20d	1	0.81mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,245	$1.02	13d	8	0.83mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	43d	1	0.84mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,295	$2.53	13d	3	0.84mi
621 1st St SW Rochester, MN	1.0	1.0	525	$1,170	$2.23	13d	3	0.86mi
1931 Viking Dr NW #24 Rochester, MN	1.0	1.0	700	$1,200	$1.71	43d	1	0.89mi
223 8th Ave SE Unit 2 Rochester, MN	1.0	1.0	600	$975	$1.62	43d	1	0.95mi
625 3rd St SW Rochester, MN	1.0–2.0	1.0	612	$1,395	$2.28	13d	3	1.00mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,795	$2.77	13d	26	1.10mi
1119 2nd St SW Unit 33 Rochester, MN	1.0	1.0	668	$1,600	$2.40	43d	1	1.17mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,400	$1.94	13d	4	1.20mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,148	$2.77	13d	91	1.21mi
1617 4th St NW Rochester, MN	3.0	1.0	790	$1,048	$1.33	13d	1	1.25mi
1260 17th Ave NW Unit 12283 Rochester, MN	2.0	1.0	800	$1,325	$1.66	43d	1	1.26mi
1260 17th Ave NW Unit 12525 Rochester, MN	2.0	1.0	800	$1,395	$1.74	20d	1	1.26mi
1260 17th Ave NW Unit 12043 Rochester, MN	2.0	1.0	800	$1,325	$1.66	13d	1	1.26mi
1258 17th Ave NW Rochester, MN	1.0–2.0	1.0	712	$1,395	$1.96	20d	5	1.27mi
1309 1st St SW Unit 2 Rochester, MN	2.0	1.0	625	$1,800	$2.88	43d	1	1.30mi
513 13th Ave SE Rochester, MN	2.0	1.0	850	$1,550	$1.82	43d	1	1.30mi
2409 Highway 52 N Rochester, MN	2.0	1.0	650	$1,165	$1.79	13d	10	1.33mi
1418 1/2 1st St SW Apt 1 Rochester, MN	2.0	1.0	1000	$1,200	$1.20	13d	1	1.34mi
217 14th Ave SW Rochester, MN	3.0	1.0–2.0	1389	$3,215	$2.31	13d	35	1.38mi

Listing history 20 events

1. 2026-06-19
   days on market $175,000 Active 160 DOM
2. 2026-06-18
   days on market $175,000 Active 159 DOM
3. 2026-06-17
   days on market $175,000 Active 158 DOM
4. 2026-06-16
   days on market $175,000 Active 157 DOM
5. 2026-06-15
   days on market $175,000 Active 156 DOM
6. 2026-06-14
   days on market $175,000 Active 154 DOM
7. 2026-06-13
   days on market $175,000 Active 153 DOM
8. 2026-06-10
   days on market $175,000 Active 151 DOM
9. 2026-06-09
   days on market $175,000 Active 150 DOM
10. 2026-06-08
    days on market $175,000 Active 149 DOM
11. 2026-06-07
    days on market $175,000 Active 148 DOM
12. 2026-06-05
    days on market $175,000 Active 145 DOM
13. 2026-06-03
    days on market $175,000 Active 144 DOM
14. 2026-06-03
    pricedays on market $175,000 Active 143 DOM
15. 2026-05-04
    price $195,000 499-char remark

    Show marketing remark (499 chars)

    I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

16. 2026-04-02
    price $210,000 499-char remark

    Show marketing remark (499 chars)

    I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

17. 2026-02-25
    price $245,000 499-char remark

    Show marketing remark (499 chars)

    I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

18. 2026-01-22
    price $285,000 499-char remark

    Show marketing remark (499 chars)

    I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

19. 2026-01-06
    listed $315,000 Active 499-char remark

    Show marketing remark (499 chars)

    I am thrilled to show this fantastic investment opportunity to you all. This house is located in a prime business location, close to Mayo Clinic, Silver Lake and in the heart of downtown. With shopping and grocery stores within walking distance, this property is a dream for investors looking to capitalize on the bustling market. Don't miss out on this great chance to add a valuable asset to your portfolio. Contact us today to learn more about this amazing opportunity! "SOLD AS IS"

20. 1986-02-01
    soldstatus $36,500

ⓘ 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: $2,222 · $185/mo
• Projected year-2 tax: $2,222 · $185/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,685
• − Mortgage interest: −$9,803
• − Property taxes: −$2,222
• − Insurance: −$875
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$5,091
• Taxable loss: −$2,295
• Est. tax savings @ 24.0%: +$551
• After-tax cash flow: $1,202/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 20,437
• Household income: $93,685
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 438.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Asian 8% Black 6% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Portuguese 14% Romanian 3% Italian 2%
• Foreign-born: 11% · China, Canada
• Languages at home: 86% English-only · Spanish 3% Chinese 3% Other Asian/Pacific 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.46%
• Current HPI: 252.9003
• Rent YoY: ▲ 9.18%
• Metro: Rochester, MN
• 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

+434.2% since first listed

6 events — show timeline

• 2026-05-04 Price Changed $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-02 Price Changed $210,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-22 Price Changed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-06 Listed $315,000 NORTHSTARMLS as Distributed by MLS Grid
• 1986-02-01 Sold (Public Records) $36,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,222 · +9.4% YoY. Source: county tax records.