1023 South St · Jackson, MN 56143

$45,000

4 bd · 2.0 ba · 2,224 sqft · SingleFamily public records · 128 Days on market

Built 1892 0.33 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Seller holds equitable interest in the property. Transaction may involve an assignment of contract.Discover the incredible potential of this charming residence situated on a spacious double lot in Jackson. Originally a duplex, this unique home offers significant flexibility with two kitchens—including an updated main kitchen—and two separate basement areas. The interior features a mix of hardwood, vinyl, and carpet, providing a solid foundation for your personal touch and fresh paint. Enjoy the freedom of a property with no HOA and plenty of room to grow. Whether you're looking for a large single-family home or a multi-generational setup, this is a must-see!

Key facts

• Two kitchens
• Double lot
• Updated main kitchen

Tags

• DOUBLE LOT
• TWO KITCHENS
• UPDATED MAIN KITCHEN
• TWO SEPARATE BASEMENT AREAS
• NO HOA

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#97 in MN, #2,166 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Jackson County Central School District (town): math 46% / reading 48% proficiency, ranked #160 of 301 in MN (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 4 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($311 loan paydown + $1k appreciation (2.6% local appreciation)).
• Jackson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1892 — 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. 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.
6. 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.
7. 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: 3.29% ✓
• Cap rate: 29.30%
• Cash-on-cash: 82.16%
• DSCR: 4.66
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.3%
• Equity multiple: 5.72×
• Total profit: $59,488
• Equity at exit: $19,283

10-year hold

• IRR: 86.1%
• Equity multiple: 11.79×
• Total profit: $135,935
• Equity at exit: $28,999

Cash invested: $12,600 (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 56143

• Home prices YoY: 1.1%
• Active inventory: 23
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $863

Break-even live

Break-even rent $387

Max offer price $45,000

Occupancy floor 37%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $45,000 Active 128 DOM
2. 2026-06-17
   days on market $45,000 Active 127 DOM
3. 2026-06-16
   days on market $45,000 Active 126 DOM
4. 2026-06-15
   days on market $45,000 Active 125 DOM
5. 2026-06-13
   days on market $45,000 Active 123 DOM
6. 2026-06-12
   days on market $45,000 Active 122 DOM
7. 2026-06-09
   days on market $45,000 Active 119 DOM
8. 2026-06-08
   days on market $45,000 Active 118 DOM
9. 2026-06-07
   days on market $45,000 Active 117 DOM
10. 2026-06-07
    days on market $45,000 Active 116 DOM
11. 2026-06-04
    days on market $45,000 Active 113 DOM
12. 2026-06-02
    days on market $45,000 Active 112 DOM
13. 2026-06-01
    days on market $45,000 Active 111 DOM
14. 2026-05-31
    days on market $45,000 Active 110 DOM
15. 2026-05-31
    days on market $45,000 Active 109 DOM
16. 2026-05-04
    price $45,000 678-char remark

    Show marketing remark (678 chars)

    Seller holds equitable interest in the property. Transaction may involve an assignment of contract.Discover the incredible potential of this charming residence situated on a spacious double lot in Jackson. Originally a duplex, this unique home offers significant flexibility with two kitchens—including an updated main kitchen—and two separate basement areas. The interior features a mix of hardwood, vinyl, and carpet, providing a solid foundation for your personal touch and fresh paint. Enjoy the freedom of a property with no HOA and plenty of room to grow. Whether you're looking for a large single-family home or a multi-generational setup, this is a must-see!

17. 2026-02-25
    price $55,000 678-char remark

    Show marketing remark (678 chars)

    Seller holds equitable interest in the property. Transaction may involve an assignment of contract.Discover the incredible potential of this charming residence situated on a spacious double lot in Jackson. Originally a duplex, this unique home offers significant flexibility with two kitchens—including an updated main kitchen—and two separate basement areas. The interior features a mix of hardwood, vinyl, and carpet, providing a solid foundation for your personal touch and fresh paint. Enjoy the freedom of a property with no HOA and plenty of room to grow. Whether you're looking for a large single-family home or a multi-generational setup, this is a must-see!

18. 2026-02-10
    listed $64,500 Active 678-char remark

    Show marketing remark (678 chars)

    Seller holds equitable interest in the property. Transaction may involve an assignment of contract.Discover the incredible potential of this charming residence situated on a spacious double lot in Jackson. Originally a duplex, this unique home offers significant flexibility with two kitchens—including an updated main kitchen—and two separate basement areas. The interior features a mix of hardwood, vinyl, and carpet, providing a solid foundation for your personal touch and fresh paint. Enjoy the freedom of a property with no HOA and plenty of room to grow. Whether you're looking for a large single-family home or a multi-generational setup, this is a must-see!

19. 2016-01-20
    soldstatus $50,100
20. 1993-10-14
    soldstatus $25,000

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $614 · $51/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $17,750
• − Mortgage interest: −$2,521
• − Property taxes: −$614
• − Insurance: −$225
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$1,309
• Taxable income: $10,241
• Est. tax owed @ 24.0%: −$2,458
• After-tax cash flow: $7,894/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: Jackson County Central School District
• NCES district ID: 2700231
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $48,654
• Composite: 40.17/100
• National rank: #3790
• State rank: #160 of 301 in MN

Livability — Jackson

• Score: 79/100
• State rank: #97
• US rank: #2166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, MN
• City population: 4,529
• Population (ZIP): 4,529

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 9,757 people
• By 2030: 9,560 · -2.0%
• By 2040: 9,130 · -6.4%
• By 2050: 8,699 · -10.8%
• By 2075: 8,113 · -16.8%
• By 2100: 7,471 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Asian 2% Black 1%
• Common ancestry: Portuguese 15% Iranian 4% Swiss 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.7%
• 2008→2024 swing: -37.8pp toward R · 2008: -4.3pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+37.9 2016: R+38.8 2012: R+14.3 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.62%
• Current HPI: 240.1057
• 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

+80.0% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-25 Price Changed $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-10 Listed $64,500 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-20 Sold (Public Records) $50,100 Public Records
• 1993-10-14 Sold (Public Records) $25,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $614 · -2.5% YoY. Source: county tax records.