405 Hoff Ave · Vining, MN 56588

$89,000

2 bd · 1.0 ba · 580 sqft · SingleFamily public records · 8 Days on market

Built 1930 7,492 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 +18.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +5.4/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Ideal lake cabin alternative. Fenced yard, new siding, Good shingles blacktopped streets, quiet neighborhood

Key facts

• Screened-in porch
• Fenced yard
• Outdoor entertaining

Tags

• UPDATED PLUMBING
• NEWER DRILLED WELL
• HOLDING TANK
• SCREENED-IN PORCH
• FENCED YARD
• OUTDOOR ENTERTAINING

Property features AI

Exterior

• Parking: Asphalt driveway; 1-car garage (approx. 20 x 24)
• Utilities: Drilled water source; Holding tank sewer; Propane fuel
• Home design: Residential property; One level; Porch
• Construction: Poured concrete foundation; Asphalt roof (over 8 years old)
• Exterior features: Vinyl exterior; Deck, enclosed porch, and porch; Chain link fencing; Light tree coverage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Water softener (owned); Fuel tank (rented)
• Laundry & utility: No laundry room (none indicated); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (9.9% below list).
• Recommended offer: $80k (9.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#630 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, crime D.
• Henning Public School District (rural): math 60% / reading 65% proficiency, ranked #128 of 467 in MN (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 5 active listings in the ZIP; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($615 loan paydown + $9k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $33k; list at $89k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,221 (9.9% below list)

Questions for the listing agent

1. Built in 1930 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.90% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 3.16×
• Total profit: $53,947
• Equity at exit: $80,178

10-year hold

• IRR: 23.8%
• Equity multiple: 7.20×
• Total profit: $154,478
• Equity at exit: $172,907

Cash invested: $24,920 (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 56588

• Home prices YoY: 7.8%
• Active inventory: 5
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $802 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $86

Break-even live

Break-even rent $693

Max offer price $89,000

Occupancy floor 84%

Sensitivity live

Price	-10% $137	-5% $112	+0% $86	+5% $61	+10% $36
Rent	-10% $23	-5% $55	+0% $86	+5% $118	+10% $150
Rate	-1.0pp $131	-0.5pp $109	base $86	+0.5pp $63	+1.0pp $40

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-15
   listed $89,000 Active 521-char remark
2. 2015-09-16
   soldstatus $32,700 108-char remark

   Show marketing remark (108 chars)

   Ideal lake cabin alternative. Fenced yard, new siding, Good shingles blacktopped streets, quiet neighborhood

3. 2015-07-10
   listed $34,900 108-char remark

   Show marketing remark (108 chars)

   Ideal lake cabin alternative. Fenced yard, new siding, Good shingles blacktopped streets, quiet neighborhood

4. 2009-07-29
   soldstatus $16,000

ⓘ 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: $522 · $44/mo
• Projected year-2 tax: $759 · $63/mo
• Expected delta: +$237/yr (+$20/mo · 45.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,627
• − Mortgage interest: −$4,985
• − Property taxes: −$522
• − Insurance: −$445
• − Repairs & maintenance: −$770
• − Management: −$770
• − Depreciation: −$2,589
• Taxable loss: −$455
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $1,146/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: Henning Public School District
• NCES district ID: 2713860
• Math proficiency: 60% ▲ 5.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $43,860
• Composite: 54.06/100
• National rank: #2990
• State rank: #128 of 467 in MN

Livability — Vining

• Score: 63/100
• State rank: #630
• US rank: #15043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vining, MN
• Population (ZIP): 458

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Portuguese 37% Romanian 9% Scottish 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.47%
• Current HPI: 158.06
• 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

+456.2% since first listed

5 events — show timeline

• 2026-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-16 Sold (MLS) $32,700 NORTHSTARMLS as Distributed by MLS Grid
• 2015-07-10 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-29 Sold (Public Records) $16,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $522 · -8.7% YoY. Source: county tax records.