306 10th Ave NE · Rochester, MN 55906

$220,000

3 bd · 2.0 ba · 754 sqft · MultiFamily public records · 42 Days on market

Built 1920 5,880 sqft lot

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.3/10.0
• Rent growth +4.8/5.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

Key facts

• Up down duplex
• Built in stability
• Strong location

Tags

• UP DOWN DUPLEX
• PRIVATE BASEMENT ACCESS
• IMMEDIATE RENTAL INCOME
• STRONG LOCATION
• BUILT IN STABILITY

Property features AI

Finance

• Other: Standard rental license in place; rental license required/active; Tenants pay electricity and gas
• Financial info: Two total units; Gross income reported as $21,600; Net operating income reported as $13,220; Owner pays grounds care, snow removal, and trash collection; Expenses listed: trash $480; insurance $2,500; maintenance $1,800; management $1,800; other $1,800
• HOA & community: No HOA information provided

Exterior

• Parking: No carport spaces
• Security: No security details provided
• Utilities: City water; City sewer; Natural gas
• Home design: Residential income property — duplex (up and down); One-and-a-half levels; Not owner-occupied
• Construction: Foundation area of 754; Below-ground area present (basement)
• Exterior features: Vinyl exterior

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two bedrooms (one unit with 2 bedrooms)
• Flooring: No flooring details provided
• Bathrooms: One full bathroom (in the 2-bedroom unit)
• Heating & cooling: Forced air heating
• Interior features: Full basement
• Laundry & utility: No laundry or utility location details provided

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive. Per door: $151/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Zoned schools: Jefferson Elementary (math 61% / reading 70%, grade B+, #123 of 857 statewide, top 15%, 525 students, 36% FRL); Century Senior High (math 37% / reading 67%, grade D+, #111 of 471 statewide, top 26%, 1,698 students, 31% FRL) — zoned schools at 34% FRL track the district average.
• Zoned-school proficiency averages 59% at this address vs 46% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Rochester Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+9.2%/yr); 218 active listings in the ZIP; 18 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 $2k of loan paydown is wiped out by about $7k 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 + 8.0% rent growth), your $62k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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.
• Current owner paid $145k; list at $220k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $213,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-4,425
• Equity at exit: $32,803

10-year hold

• IRR: 12.6%
• Equity multiple: 2.22×
• Total profit: $75,440
• Equity at exit: $19,022

Cash invested: $61,600 (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 55906

• Home prices YoY: -33.0%
• Rents YoY: 9.2%
• Active inventory: 218
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $2,264 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$241 /mo · $2,892/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $302

Break-even live

Break-even rent $1,881

Max offer price $220,000

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,209
1× unit	1	1	$1,055
Total (2 units)			$2,264

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	13d	40	0.39mi
28 7th St NE Rochester, MN	2.0	1.0–2.0	789	$2,750	$3.49	21d	18	0.61mi
513 13th Ave SE Rochester, MN	2.0	1.0	850	$1,550	$1.82	43d	1	0.67mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	13d	22	0.68mi
400 1st Ave NW Rochester, MN	1.0–2.0	1.0–2.0	819	$1,510	$1.84	13d	7	0.70mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	43d	1	0.75mi
204 13th St NW Rochester, MN	2.0	1.0	705	$1,208	$1.71	13d	4	1.01mi
226 13th St NW Unit 27 Rochester, MN	2.0	1.0	705	$1,120	$1.59	21d	1	1.05mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	13d	91	1.09mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,795	$2.77	13d	26	1.10mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,295	$2.53	13d	3	1.10mi
1902 8 1/2 St SE Unit Andover 1902-D Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	1.15mi
524 10th St SE Rochester, MN	2.0	1.0	850	$1,475	$1.74	43d	1	1.17mi
2016 8 1/2 St SE Unit Andover 2016-A Rochester, MN	3.0	2.0	1100	$1,250	$1.14	43d	1	1.19mi
625 3rd St SW Rochester, MN	1.0–2.0	1.0	612	$1,395	$2.28	13d	3	1.21mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,400	$1.94	13d	4	1.35mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,734	$1.82	13d	6	1.44mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,695	$1.38	13d	8	1.47mi

Listing history 38 events

1. 2026-06-19
   days on market $220,000 Active 42 DOM
2. 2026-06-18
   days on market $220,000 Active 41 DOM
3. 2026-06-17
   days on market $220,000 Active 40 DOM
4. 2026-06-16
   days on market $220,000 Active 39 DOM
5. 2026-06-15
   days on market $220,000 Active 38 DOM
6. 2026-06-14
   days on market $220,000 Active 36 DOM
7. 2026-06-13
   days on market $220,000 Active 35 DOM
8. 2026-06-10
   days on market $220,000 Active 33 DOM
9. 2026-06-09
   days on market $220,000 Active 32 DOM
10. 2026-06-08
    days on market $220,000 Active 31 DOM
11. 2026-06-07
    days on market $220,000 Active 30 DOM
12. 2026-06-05
    days on market $220,000 Active 27 DOM
13. 2026-06-03
    days on market $220,000 Active 26 DOM
14. 2026-06-02
    days on market $220,000 Active 25 DOM
15. 2026-06-01
    days on market $220,000 Active 24 DOM
16. 2026-05-31
    days on market $220,000 Active 23 DOM
17. 2026-05-30
    days on market $220,000 Active 22 DOM
18. 2026-05-07
    listed $220,000 Active 1079-char remark
19. 2025-08-17
    historical
20. 2025-06-19
    price $234,900
21. 2025-04-02
    listed $239,900 Active
22. 2024-04-12
    historical $950
23. 2024-04-10
    listed $950
24. 2024-04-10
    historical $950
25. 2024-03-20
    price $950
26. 2024-03-13
    price $975
27. 2023-10-26
    listed $1,000
28. 2019-11-01
    soldstatus $145,000 Sold

    Show marketing remark (244 chars)

    Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

29. 2019-10-31
    soldstatus $145,000
30. 2019-09-12
    status Pending

    Show marketing remark (244 chars)

    Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

31. 2019-09-10
    historical Contingent - Inspection

    Show marketing remark (244 chars)

    Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

32. 2019-09-10
    historical

    Show marketing remark (244 chars)

    Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

33. 2019-09-10
    listed $145,000

    Show marketing remark (244 chars)

    Up/down duplex style home on a quiet street close to city bus line & everything Rochester has to offer. Long term tenants and a great location make this a great first time investor property or cash flows to add value to a diverse portfolio.

34. 2003-09-04
    soldstatus $99,800
35. 2003-08-08
    soldstatus $96,000
36. 2003-07-31
    soldstatus $96,000
37. 2003-06-05
    listed $99,800
38. 2000-09-07
    soldstatus $42,900

ⓘ 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: $2,892 · $241/mo
• Projected year-2 tax: $2,892 · $241/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 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: $27,168
• − Mortgage interest: −$12,323
• − Property taxes: −$2,892
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$6,400
• Taxable income: $106
• Est. tax owed @ 24.0%: −$25
• After-tax cash flow: $3,601/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

+412.8% since first listed

21 events — show timeline

• 2026-05-07 Listed $220,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-19 Price Changed $234,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-02 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-12 Rental Removed $950 APPFOLIO
• 2024-04-10 Listed for Rent $950 APPFOLIO
• 2024-04-10 Rental Removed $950 APPFOLIO
• 2024-03-20 Price Changed $950 APPFOLIO
• 2024-03-13 Price Changed $975 APPFOLIO
• 2023-10-26 Listed for Rent $1,000 APPFOLIO
• 2019-11-01 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-31 Sold (Public Records) $145,000 Public Records
• 2019-09-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-10 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2003-09-04 Sold (MLS) $99,800 NORTHSTARMLS as Distributed by MLS Grid
• 2003-08-08 Sold (Public Records) $96,000 Public Records
• 2003-07-31 Sold (Public Records) $96,000 Public Records
• 2003-06-05 Listed $99,800 NORTHSTARMLS as Distributed by MLS Grid
• 2000-09-07 Sold (Public Records) $42,900 Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,892 · +11.5% YoY. Source: county tax records.