2011 Bluebird Ter NW · Stewartville, MN 55976

$15,000

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 1 Days on market

Built 1973

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 3-bedroom mobile home located in Southern Hills Trailer Park off Hwy 63. Situated on a spacious lot, this home offers great potential for someone looking for a budget-friendly place to make their own. Built with solid older construction and classic 1970s character, this home has good bones and room for improvement. Approx. 1,000 sq ft (estimated) Lot rent: $895/month Buyer must be approved by park management Home Features: & acirc; & euro; & cent; Large living room with unique layout and 6 additional vent windows & acirc; & euro; & cent; Spacious kitchen with built-in corner cabinet & acirc; & euro; & cent; Refrigerator and dishwasher (appr

Key facts

• Spacious kitchen
• Large living room
• Newer water heater

Tags

• LARGE LIVING ROOM
• SPACIOUS KITCHEN
• BUILT-IN CORNER CABINET
• WASHER AND DRYER INCLUDED
• BUILT-IN BENCH SEATING
• NEWER WATER HEATER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $15k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Cap rate 93.1% 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; 2 comparable units currently listed for rent nearby; 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 $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $15,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 9.96% ✓
• Cap rate: 93.15%
• Cash-on-cash: 310.20%
• DSCR: 14.80
• GRM: 0.8

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: —
• Equity multiple: 16.89×
• Total profit: $66,735
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 36.05×
• Total profit: $147,221
• Equity at exit: $1,297

Cash invested: $4,200 (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: 0.8×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$10 /mo · $114/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $1,086

Break-even live

Break-even rent $120

Max offer price $15,000

Occupancy floor 22%

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

Rent comps 2 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	20d	1	0.32mi
1821 Daniel Ln NE Stewartville, MN	2.0	1.5	1080	$1,550	$1.44	43d	1	0.39mi

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $114 · $10/mo
• Projected year-2 tax: $141 · $12/mo
• Expected delta: +$27/yr (+$2/mo · 23.7%)

ⓘ 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 1/10 Low 7 d/yr ≥97°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: $17,926
• − Mortgage interest: −$840
• − Property taxes: −$114
• − Insurance: −$75
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$436
• Taxable income: $13,592
• Est. tax owed @ 24.0%: −$3,262
• After-tax cash flow: $9,766/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: 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

Property tax history

+4.4%/yr

Latest (2025): $114 · +3.6% YoY. Source: county tax records.