513 N Main St · Sanborn, MN 56083

$67,000

3 bd · 2.0 ba · 1,540 sqft · SingleFamily · 8 Days on market

Built 1992 0.29 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 +6.9/10.0
• Schools +5.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bedroom, 2 bath home offers main level living and has a spacious layout with a large living room, family room, and kitchen with ample storage space, which is connected to the dining room with lots of windows and natural light. The primary bedroom has an adjoining bathroom. There is another full bathroom located next to the other two bedrooms. Gas forced air furnace and central A/C. The detached garage is conveniently located right out of the back door in the laundry/back entry room. There is also a storage shed on the property that is included.

Key facts

• Ample storage space
• Main level living
• Large living room

Tags

• MAIN LEVEL LIVING
• LARGE LIVING ROOM
• FAMILY ROOM
• KITCHEN WITH CENTER ISLAND
• AMPLE STORAGE SPACE
• LOTS OF WINDOWS

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: City water (connected); City sewer (connected); Electric with circuit breakers; Natural gas
• Home design: Residential single-level home (one story); Manufactured home: Yes; Entry level: Main level
• Construction: Asphalt roof; Foundation: crawl space; Above-grade finished area 1,540; Building/foundation area listed as 1,540
• Exterior features: Vinyl exterior; Porch; Storage shed on property; City street frontage (public maintained road); Lot dimensions approximately 90 x 145

Interior

• Kitchen: Kitchen with center island; Kitchen window; Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Main floor full bath with separate tub and shower; Eat-in kitchen and informal/kitchen dining area; Crawl space basement
• Laundry & utility: Main level laundry; Washer and dryer present (washer/dryer hookup)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).

Location & tenants

• Location reads 60/100 on livability (#779 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: employment D+, health & safety D+, crime D.
• Red Rock Central School District (rural): math 63% / reading 69% proficiency, ranked #86 of 467 in MN (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($463 loan paydown + $3k appreciation (3.9% local appreciation)).
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 2y 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 $50k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $67,000

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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.89% ✓
• Cap rate: 16.54%
• Cash-on-cash: 36.59%
• DSCR: 2.63
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 3.54×
• Total profit: $47,597
• Equity at exit: $33,419

10-year hold

• IRR: 42.5%
• Equity multiple: 7.11×
• Total profit: $114,698
• Equity at exit: $54,225

Cash invested: $18,760 (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 56083

• Home prices YoY: 2.3%
• Active inventory: 6
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$49 /mo · $588/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $572

Break-even live

Break-even rent $542

Max offer price $67,000

Occupancy floor 50%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-21
   listed $67,000 Active
2. 2026-02-27
   historical
3. 2025-12-05
   status Active
4. 2025-12-05
   price $65,000
5. 2025-07-27
   status Pending
6. 2025-05-20
   status Active
7. 2025-04-17
   status Pending
8. 2025-04-09
   listed $67,000 Active
9. 2024-12-05
   soldstatus $50,000 Sold 557-char remark

   Show marketing remark (557 chars)

   This 3 bedroom, 2 bath home offers main level living and has a spacious layout with a large living room, family room, and kitchen with ample storage space, which is connected to the dining room with lots of windows and natural light. The primary bedroom has an adjoining bathroom. There is another full bathroom located next to the other two bedrooms. Gas forced air furnace and central A/C. The detached garage is conveniently located right out of the back door in the laundry/back entry room. There is also a storage shed on the property that is included.

10. 2024-11-27
    status Pending 557-char remark

    Show marketing remark (557 chars)

    This 3 bedroom, 2 bath home offers main level living and has a spacious layout with a large living room, family room, and kitchen with ample storage space, which is connected to the dining room with lots of windows and natural light. The primary bedroom has an adjoining bathroom. There is another full bathroom located next to the other two bedrooms. Gas forced air furnace and central A/C. The detached garage is conveniently located right out of the back door in the laundry/back entry room. There is also a storage shed on the property that is included.

11. 2024-11-22
    historical Contingent - Inspection 557-char remark

    Show marketing remark (557 chars)

    This 3 bedroom, 2 bath home offers main level living and has a spacious layout with a large living room, family room, and kitchen with ample storage space, which is connected to the dining room with lots of windows and natural light. The primary bedroom has an adjoining bathroom. There is another full bathroom located next to the other two bedrooms. Gas forced air furnace and central A/C. The detached garage is conveniently located right out of the back door in the laundry/back entry room. There is also a storage shed on the property that is included.

12. 2024-11-07
    listed $55,000 Active 557-char remark

    Show marketing remark (557 chars)

    This 3 bedroom, 2 bath home offers main level living and has a spacious layout with a large living room, family room, and kitchen with ample storage space, which is connected to the dining room with lots of windows and natural light. The primary bedroom has an adjoining bathroom. There is another full bathroom located next to the other two bedrooms. Gas forced air furnace and central A/C. The detached garage is conveniently located right out of the back door in the laundry/back entry room. There is also a storage shed on the property that is included.

ⓘ 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: $588 · $49/mo
• Projected year-2 tax: $669 · $56/mo
• Expected delta: +$81/yr (+$7/mo · 13.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,194
• − Mortgage interest: −$3,753
• − Property taxes: −$588
• − Insurance: −$335
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$1,949
• Taxable income: $6,138
• Est. tax owed @ 24.0%: −$1,473
• After-tax cash flow: $5,391/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: Red Rock Central School District
• NCES district ID: 2700132
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 69% ▼ -1.00%
• Median HH income: $48,743
• Composite: 57.29/100
• National rank: #2301
• State rank: #86 of 467 in MN

Livability — Sanborn

• Score: 60/100
• State rank: #779
• US rank: #19559

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanborn, MN
• City population: 825
• Population (ZIP): 825

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 7% Romanian 3% Lithuanian 1%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.86%
• Current HPI: 171.8429
• 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

+21.8% since first listed

12 events — show timeline

• 2026-05-21 Listed $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-27 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-05 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-05 Price Changed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-20 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-09 Listed $67,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-05 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-07 Listed $55,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $588 · +12.6% YoY. Source: county tax records.