145 Milwaukee Ave SW · Hutchinson, MN 55350

$239,900

6 bd · 3.0 ba · 918 sqft · Other public records · 34 Days on market

Built 1890 8,712 sqft lot

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Why this score? — see what drove the F 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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

Key facts

• Basement access
• Full kitchen
• Private entrance

Tags

• CORNER LOT
• PRIVATE ENTRANCE
• BASEMENT ACCESS
• FULL KITCHEN

Property features AI

Finance

• Other: Total of 2 rental units
• Financial info: FHA mortgage type indicated; Gross rental income reported at $10,200
• HOA & community: No association amenities

Exterior

• Parking: Concrete parking; Detached (or attached) 2-car garage with 24 x 24 dimensions
• Utilities: City water connected; City sewer connected; Electric service with 100 Amp and 200+ Amp options; Electric and natural gas fuel
• Home design: Duplex (up and down); Residential income property; Two levels; Owner-occupied
• Construction: Asphalt roof; Block and other foundation
• Exterior features: Wood exterior; Deck; Corner lot; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Five bedrooms total; Main-floor primary bedroom (unit amenities indicate a main floor primary)
• Bathrooms: Multiple full and three-quarter bathrooms across units
• Heating & cooling: Baseboard heating; Forced air heating; Window cooling units
• Interior features: Finished basement with egress windows; Level interior topography
• Laundry & utility: In-unit washer and dryer in each unit; Washer/dryer hookups available

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath other listed at $240k.

Deal economics

• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (34.8% below list).
• Recommended offer: $156k (34.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.1% in Hutchinson — 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 80/100 on livability (#72 in MN, #1,744 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Hutchinson Public School District (town): math 56% / reading 56% proficiency, ranked #62 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 105 active listings in the ZIP; 57 units permitted in McLeod County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• McLeod County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 34y 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,480 (34.8% 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 34 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.65% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.08%
• DSCR: 0.77
• GRM: 12.8

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: -25.0%
• Equity multiple: 0.15×
• Total profit: $-57,033
• Equity at exit: $35,770

10-year hold

• IRR: -21.0%
• Equity multiple: -0.09×
• Total profit: $-73,216
• Equity at exit: $20,742

Cash invested: $67,172 (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 55350

• Home prices YoY: -30.6%
• Active inventory: 105
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$162 /mo · $1,948/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $-284

Break-even live

Break-even rent $1,924

Max offer price $189,702

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $239,900 Active 34 DOM
2. 2026-06-17
   days on market $239,900 Active 33 DOM
3. 2026-06-16
   days on market $239,900 Active 32 DOM
4. 2026-06-15
   days on market $239,900 Active 31 DOM
5. 2026-06-13
   days on market $239,900 Active 29 DOM
6. 2026-06-12
   days on market $239,900 Active 28 DOM
7. 2026-06-09
   days on market $239,900 Active 25 DOM
8. 2026-06-08
   days on market $239,900 Active 24 DOM
9. 2026-06-07
   days on market $239,900 Active 23 DOM
10. 2026-06-07
    days on market $239,900 Active 22 DOM
11. 2026-06-04
    days on market $239,900 Active 19 DOM
12. 2026-06-02
    days on market $239,900 Active 18 DOM
13. 2026-06-01
    days on market $239,900 Active 17 DOM
14. 2026-05-31
    days on market $239,900 Active 16 DOM
15. 2026-05-31
    days on market $239,900 Active 15 DOM
16. 2026-05-14
    listed $239,900 Active 787-char remark
17. 2026-05-05
    historical
18. 2025-11-17
    listed $245,000 Active
19. 2023-06-20
    soldstatus $233,580 Sold

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

20. 2023-06-20
    soldstatus $233,580

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

21. 2023-05-24
    status Pending

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

22. 2023-05-19
    historical Contingent - Inspection

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

23. 2023-05-12
    status Active

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

24. 2023-03-14
    listed $229,000 Active

    Show marketing remark (269 chars)

    Well maintained duplex located in SW Hutchinson features a main floor 3 bedroom unit with lower level family room and laundry. Upper level 2 bedroom unit also has laundry. Double detached garage and deck overlooking nice corner lot. Let renters help make your payment!

25. 2015-04-29
    soldstatus $9,020
26. 2015-04-29
    soldstatus $9,020
27. 2015-04-29
    soldstatus $9,020
28. 2015-02-04
    listed $9,020
29. 2015-02-04
    listed $9,020
30. 2010-09-26
    historical
31. 2009-09-28
    listed $80,000
32. 2007-08-08
    historical
33. 2006-02-06
    listed $120,000
34. 2004-05-21
    soldstatus $90,000
35. 2004-04-14
    historical
36. 2004-03-08
    listed $97,900
37. 1992-12-15
    historical
38. 1992-07-30
    listed $67,500

ⓘ 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: $1,948 · $162/mo
• Projected year-2 tax: $2,317 · $193/mo
• Expected delta: +$369/yr (+$31/mo · 19.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $18,778
• − Mortgage interest: −$13,438
• − Property taxes: −$1,948
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − Depreciation: −$6,979
• Taxable loss: −$7,791
• Est. tax savings @ 24.0%: +$1,870
• After-tax cash flow: $-1,540/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: Hutchinson Public School District
• NCES district ID: 2714970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 56% ▼ -10.00%
• Median HH income: $56,261
• Composite: 48.36/100
• National rank: #2143
• State rank: #62 of 301 in MN

Livability — Hutchinson

• Score: 80/100
• State rank: #72
• US rank: #1744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hutchinson, MN
• City population: 18,567
• Population (ZIP): 18,567

Population outlook (McLeod County) Hauer SSP2

• Today (2025): 34,517 people
• By 2030: 33,442 · -3.1%
• By 2040: 30,815 · -10.7%
• By 2050: 27,695 · -19.8%
• By 2075: 21,923 · -36.5%
• By 2100: 17,237 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Portuguese 13% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · McLeod

• 2024 margin: Solid R (+38.0) · D 30.2% · R 68.1% · Other 1.7%
• 2008→2024 swing: -19.6pp toward R · 2008: -18.3pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+36.2 2016: R+38.4 2012: R+22.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.48%
• Current HPI: 203.0298
• 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

+255.4% since first listed

23 events — show timeline

• 2026-05-14 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-17 Listed $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-20 Sold (Public Records) $233,580 Public Records
• 2023-06-20 Sold (MLS) $233,580 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-14 Listed $229,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-29 Sold (Public Records) $9,020 Public Records
• 2015-04-29 Sold (MLS) $9,020 RASM
• 2015-04-29 Sold (MLS) $9,020 LSAR
• 2015-02-04 Listed $9,020 RASM
• 2015-02-04 Listed $9,020 LSAR
• 2010-09-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-28 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-08-08 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-02-06 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-21 Sold (MLS) $90,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-04-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-03-08 Listed $97,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-12-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 1992-07-30 Listed $67,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2026): $1,948 · -0.7% YoY. Source: county tax records.