308 22nd St NW · Stewartville, MN 55976

$115,000

3 bd · 2.0 ba · 1,440 sqft · Other public records · 18 Days on market

Built 2022 Good condition 827 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Condition / age +4.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

For Sale: 2023 Champion 4-Bedroom Mobile Home in Prime Stewartville Location 308 22nd St NW, Stewartville, MN This beautiful 2023 Champion manufactured home is move-in ready and situated in a fantastic location! Home Specs: Size: 24' x 60' (1,440 sq ft) Bedrooms: 4 spacious bedrooms with walk-in closets Bathrooms: 2 full baths Year: 2022 (like-new condition) Manufacturer: Champion Homes This home offers a modern layout with plenty of natural light, generous room sizes, and the quality construction Champion is known for. Perfect for families or anyone wanting extra space without the hassle of a traditional home. Community & Location Highlights: Located right next to the clubhouse, poo

Key facts

• Move-in ready
• Excellent amenities
• Modern layout

Tags

• MOVE-IN READY
• MODERN LAYOUT
• NATURAL LIGHT
• WALK-IN CLOSETS
• EXCELLENT AMENITIES

Property features AI

Finance

• Other: Lot approximately 0.019 acres (50 x 100)
• Financial info: Mortgage type: Other
• HOA & community: Land is leased (land lease fee $895)

Exterior

• Parking: Asphalt parking
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers (People’s Energy Cooperative)
• Home design: Residential manufactured home; One level; Primary bedroom with walk-in closet
• Construction: Other construction materials; Roof age 8 years or less; Foundation approximately 24x60
• Exterior features: Vinyl exterior; Paved streets; Private maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 4 bedrooms (main floor primary and additional main floor bedrooms)
• Bathrooms: 2 full bathrooms (including a private primary and a main floor full bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor primary bedroom; Main floor bedroom; Main floor laundry; Eat-in kitchen; Private primary bathroom
• Laundry & utility: Dedicated laundry room with washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 2.5% in Stewartville — 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 85/100 on livability (#18 in MN, #527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F.
• Stewartville Public School District (town): math 46% / reading 52% proficiency, ranked #120 of 301 in MN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.34% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.20%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.2%
• Equity multiple: 1.28×
• Total profit: $9,075
• Equity at exit: $17,147

10-year hold

• IRR: 16.5%
• Equity multiple: 2.36×
• Total profit: $43,633
• Equity at exit: $9,943

Cash invested: $32,200 (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 55976

• Home prices YoY: -27.8%
• Active inventory: 66
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,545 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$135 /mo · $1,618/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $435

Break-even live

Break-even rent $995

Max offer price $115,000

Occupancy floor 67%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Lark Ln NW Unit 200 Stewartville, MN	3.0	2.0	1056	$1,449	$1.37	21d	1	0.22mi
2028 Mockingbird Pl NW Unit 14 Stewartville, MN	3.0	2.0	1216	$1,459	$1.20	44d	1	0.28mi
2216 Osprey Pl NW Unit 470 Stewartville, MN	3.0	2.0	1568	$1,779	$1.13	13d	1	0.38mi
1821 Daniel Ln NE Stewartville, MN	2.0	1.5	1080	$1,550	$1.44	44d	1	0.52mi

Listing history 13 events

1. 2026-06-19
   days on market $115,000 Active 18 DOM
2. 2026-06-18
   days on market $115,000 Active 17 DOM
3. 2026-06-17
   days on market $115,000 Active 16 DOM
4. 2026-06-16
   days on market $115,000 Active 15 DOM
5. 2026-06-15
   days on market $115,000 Active 14 DOM
6. 2026-06-14
   days on market $115,000 Active 12 DOM
7. 2026-06-13
   days on market $115,000 Active 11 DOM
8. 2026-06-10
   days on market $115,000 Active 9 DOM
9. 2026-06-09
   days on market $115,000 Active 8 DOM
10. 2026-06-08
    days on market $115,000 Active 7 DOM
11. 2026-06-07
    days on market $115,000 Active 6 DOM
12. 2026-06-01
    remarks 695-char remark
13. 2026-06-01
    listed $115,000 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: $1,618 · $135/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $18,541
• − Mortgage interest: −$6,442
• − Property taxes: −$1,618
• − Insurance: −$575
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$3,345
• Taxable income: $3,594
• Est. tax owed @ 24.0%: −$863
• After-tax cash flow: $4,355/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.

Condition & rehab AI · 12 photos

Good 85/100 None rehab

This move-in ready 2023 Champion mobile home is in excellent condition with modern amenities and a prime location. It offers a good investment opportunity for both resale and rental markets.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Add a small front porch — A small front porch can enhance the curb appeal and provide a welcoming entrance for potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Add a small front porch — A small front porch can enhance the curb appeal and provide a welcoming entrance for potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Stewartville Public School District
• NCES district ID: 2738160
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $58,649
• Composite: 42.76/100
• National rank: #3156
• State rank: #120 of 301 in MN

Livability — Stewartville

• Score: 85/100
• State rank: #18
• US rank: #527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stewartville, MN
• City population: 8,542
• Population (ZIP): 8,542

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 (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 20% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -103.02%
• Current HPI: 267.7547
• 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

1 event — show timeline

• 2026-05-31 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2025): $1,618 · +3.6% YoY. Source: county tax records.