107 3rd Ave · Madison, MN 56256

$139,999

3 bd · 2.0 ba · 2,024 sqft · SingleFamily · 36 Days on market

Built 1973 8,276 sqft lot

---

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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just two blocks from downtown, this adorable 3 bedroom/2 bath home offers a wonderful open floor plan with large eat-in kitchen and spacious dining and living room area. The main floor also offers two bedrooms, full bath, a walkout deck, and direct access to the attached two car garage with a wonderful storage room! The lower level offers a wonderful family room, spacious 3 bedroom, 3/4 bath with shower, and a large laundry room that also gives access to the garage. Also enjoy the private back yard and the convenience of back alley access to the garage and extra parking. Schedule your showing today!

Key facts

• Open floor plan
• Large eat-in kitchen
• Private back yard

Tags

• OPEN FLOOR PLAN
• LARGE EAT-IN KITCHEN
• WALKOUT DECK
• PRIVATE BACK YARD
• BACK ALLEY ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/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 $137k (2.5% below list).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#175 in MN, #3,796 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Lac Qui Parle Valley School District (rural): math 44% / reading 44% proficiency, ranked #193 of 301 in MN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 9 units permitted in Lac qui Parle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lac qui Parle County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $85k; list at $140k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $135,799 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 8.5

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-13,760
• Equity at exit: $20,874

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-481
• Equity at exit: $12,105

Cash invested: $39,200 (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 56256

• Home prices YoY: -10.3%
• Active inventory: 16
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$146 /mo · $1,750/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $140

Break-even live

Break-even rent $1,188

Max offer price $139,999

Occupancy floor 85%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $139,999 Active 36 DOM
2. 2026-06-17
   days on market $139,999 Active 35 DOM
3. 2026-06-16
   days on market $139,999 Active 34 DOM
4. 2026-06-15
   days on market $139,999 Active 33 DOM
5. 2026-06-13
   statusdays on market $139,999 Active 31 DOM
6. 2026-05-19
   historical Contingent - Inspection 619-char remark

   Show marketing remark (619 chars)

   Located just two blocks from downtown, this adorable 3 bedroom/2 bath home offers a wonderful open floor plan with large eat-in kitchen and spacious dining and living room area. The main floor also offers two bedrooms, full bath, a walkout deck, and direct access to the attached two car garage with a wonderful storage room! The lower level offers a wonderful family room, spacious 3 bedroom, 3/4 bath with shower, and a large laundry room that also gives access to the garage. Also enjoy the private back yard and the convenience of back alley access to the garage and extra parking. Schedule your showing today!

7. 2026-04-17
   listed $139,999 Active 619-char remark

   Show marketing remark (619 chars)

   Located just two blocks from downtown, this adorable 3 bedroom/2 bath home offers a wonderful open floor plan with large eat-in kitchen and spacious dining and living room area. The main floor also offers two bedrooms, full bath, a walkout deck, and direct access to the attached two car garage with a wonderful storage room! The lower level offers a wonderful family room, spacious 3 bedroom, 3/4 bath with shower, and a large laundry room that also gives access to the garage. Also enjoy the private back yard and the convenience of back alley access to the garage and extra parking. Schedule your showing today!

8. 2019-02-02
   historical 667-char remark

   Show marketing remark (667 chars)

   THIS HOUSE IS SURE TO PLEASE!! MOVE IN SIT DOWN! THE FLOOR PLAN IS OPEN AND OFFERS 3 BEDROOMS AND 2 BATHROOMS, AND A FINISHED BASEMENT WITH FAMILY ROOM AND LARGE UTILITY ROOM. NEWER FURNACE AND CENTRAL AIR. STEEL SIDING AND NEWER SHINGLES! THE KITCHEN IS SPACIOUS WITH BEAUTIFUL CABINETS AND TILED FLOORS, LOTS OF COUNTER SPACE, A SEPARATE PANTRY ROOM IS SURE TO KEEP YOU ORGANIZED, AND THE KITCHEN WALKS OUT TO A RAISED DECK AREA FOR RELAXING IN THE EVENINGS! THERE IS A 2 STALL ATTACHED GARAGE THAT ENTERS THE HOUSE INTO EITHER THE BASEMENT OR THE KITCHEN. GARAGE OFFERS A SPACIOUS STORAGE ROOM. TASTEFULLY PAINTED, THIS HOME FLOWS NICELY AND IS MOVE IN READY!

9. 2019-02-02
   historical

   Show marketing remark (667 chars)

   THIS HOUSE IS SURE TO PLEASE!! MOVE IN SIT DOWN! THE FLOOR PLAN IS OPEN AND OFFERS 3 BEDROOMS AND 2 BATHROOMS, AND A FINISHED BASEMENT WITH FAMILY ROOM AND LARGE UTILITY ROOM. NEWER FURNACE AND CENTRAL AIR. STEEL SIDING AND NEWER SHINGLES! THE KITCHEN IS SPACIOUS WITH BEAUTIFUL CABINETS AND TILED FLOORS, LOTS OF COUNTER SPACE, A SEPARATE PANTRY ROOM IS SURE TO KEEP YOU ORGANIZED, AND THE KITCHEN WALKS OUT TO A RAISED DECK AREA FOR RELAXING IN THE EVENINGS! THERE IS A 2 STALL ATTACHED GARAGE THAT ENTERS THE HOUSE INTO EITHER THE BASEMENT OR THE KITCHEN. GARAGE OFFERS A SPACIOUS STORAGE ROOM. TASTEFULLY PAINTED, THIS HOME FLOWS NICELY AND IS MOVE IN READY!

10. 2016-10-24
    soldstatus $85,418
11. 2016-10-20
    soldstatus $85,417 667-char remark

    Show marketing remark (667 chars)

    THIS HOUSE IS SURE TO PLEASE!! MOVE IN SIT DOWN! THE FLOOR PLAN IS OPEN AND OFFERS 3 BEDROOMS AND 2 BATHROOMS, AND A FINISHED BASEMENT WITH FAMILY ROOM AND LARGE UTILITY ROOM. NEWER FURNACE AND CENTRAL AIR. STEEL SIDING AND NEWER SHINGLES! THE KITCHEN IS SPACIOUS WITH BEAUTIFUL CABINETS AND TILED FLOORS, LOTS OF COUNTER SPACE, A SEPARATE PANTRY ROOM IS SURE TO KEEP YOU ORGANIZED, AND THE KITCHEN WALKS OUT TO A RAISED DECK AREA FOR RELAXING IN THE EVENINGS! THERE IS A 2 STALL ATTACHED GARAGE THAT ENTERS THE HOUSE INTO EITHER THE BASEMENT OR THE KITCHEN. GARAGE OFFERS A SPACIOUS STORAGE ROOM. TASTEFULLY PAINTED, THIS HOME FLOWS NICELY AND IS MOVE IN READY!

12. 2016-06-15
    listed $92,500 667-char remark

    Show marketing remark (667 chars)

    THIS HOUSE IS SURE TO PLEASE!! MOVE IN SIT DOWN! THE FLOOR PLAN IS OPEN AND OFFERS 3 BEDROOMS AND 2 BATHROOMS, AND A FINISHED BASEMENT WITH FAMILY ROOM AND LARGE UTILITY ROOM. NEWER FURNACE AND CENTRAL AIR. STEEL SIDING AND NEWER SHINGLES! THE KITCHEN IS SPACIOUS WITH BEAUTIFUL CABINETS AND TILED FLOORS, LOTS OF COUNTER SPACE, A SEPARATE PANTRY ROOM IS SURE TO KEEP YOU ORGANIZED, AND THE KITCHEN WALKS OUT TO A RAISED DECK AREA FOR RELAXING IN THE EVENINGS! THERE IS A 2 STALL ATTACHED GARAGE THAT ENTERS THE HOUSE INTO EITHER THE BASEMENT OR THE KITCHEN. GARAGE OFFERS A SPACIOUS STORAGE ROOM. TASTEFULLY PAINTED, THIS HOME FLOWS NICELY AND IS MOVE IN READY!

13. 2013-08-01
    soldstatus $71,500
14. 2013-07-31
    soldstatus $71,500
15. 2013-07-31
    soldstatus $71,500
16. 2011-09-03
    listed $73,000
17. 2011-09-03
    listed $73,000

ⓘ 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: $1,750 · $146/mo
• Projected year-2 tax: $1,750 · $146/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 ≥101°F today · 13 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: $16,381
• − Mortgage interest: −$7,842
• − Property taxes: −$1,750
• − Insurance: −$700
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − Depreciation: −$4,073
• Taxable loss: −$605
• Est. tax savings @ 24.0%: +$145
• After-tax cash flow: $1,826/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: Lac Qui Parle Valley School District
• NCES district ID: 2700125
• Math proficiency: 44% ▼ -14.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $44,760
• Composite: 37.32/100
• National rank: #4444
• State rank: #193 of 301 in MN

Livability — Madison

• Score: 76/100
• State rank: #175
• US rank: #3796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, MN
• Population (ZIP): 2,352

Population outlook (Lac qui Parle County) Hauer SSP2

• Today (2025): 6,291 people
• By 2030: 6,021 · -4.3%
• By 2040: 5,517 · -12.3%
• By 2050: 5,094 · -19.0%
• By 2075: 4,640 · -26.2%
• By 2100: 4,173 · -33.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97%
• Common ancestry: Portuguese 35% Iranian 2% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Lac qui Parle

• 2024 margin: Solid R (+32.2) · D 32.9% · R 65.2% · Other 1.9%
• 2008→2024 swing: -38.2pp toward R · 2008: 5.9pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.8 2016: R+25.9 2012: D+0.9 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.74%
• Current HPI: 189.1868
• 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

+91.8% since first listed

12 events — show timeline

• 2026-05-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Listed $139,999 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-10-24 Sold (Public Records) $85,418 Public Records
• 2016-10-20 Sold (MLS) $85,417 NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-15 Listed $92,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-01 Sold (Public Records) $71,500 Public Records
• 2013-07-31 Sold (MLS) $71,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-31 Sold (MLS) $71,500 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-03 Listed $73,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-03 Listed $73,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2026): $1,750 · +3.7% YoY. Source: county tax records.