2005 7th Ave · Mankato, MN 56001

$199,800

3 bd · 1.0 ba · 1,714 sqft · SingleFamily public records · 29 Days on market

Built 1881 7,013 sqft lot Est $240k · 17% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in Mankato! This duplex offers strong income potential and endless possibilities for the right buyer. Whether you're looking to expand your rental portfolio, live in one unit while renting the other, or renovate and increase value, this property is full of opportunity. Each unit provides functional living space with the chance to add your own updates and improvements. Conveniently located in Mankato near shopping, dining, parks, and schools, this property is a great chance to build equity and generate rental income. Don’t miss out on this versatile investment property with tons of potential!

Key facts

• Conveniently located
• 7,013 sq ft lot
• 2 garage spots

Tags

• INVESTMENT OPPORTUNITY
• STRONG INCOME POTENTIAL
• FUNCTIONAL LIVING SPACE
• CONVENIENTLY LOCATED
• GENERATE RENTAL INCOME

Property features AI

Finance

• Other: Total units: 2
• Financial info: Gross income reported: $20,880

Exterior

• Parking: Detached or attached 2-car garage
• Utilities: City water; City sewer; Natural gas
• Home design: Duplex (up and down); Two levels; Residential income property
• Construction: Frame construction; Asphalt roof; Block foundation; Built area: above grade 884 / below grade 830
• Exterior features: Vinyl exterior; City street frontage; Lot approximately 0.161 acres (50 x 140)

Interior

• Bedrooms: Total of 3 bedrooms (unit breakdown: one 1-bed unit, one 2-bed unit)
• Bathrooms: 2 full bathrooms and 1 three-quarter bathroom (one full in each unit; one unit also has a three-quarter bath)
• Heating & cooling: Forced air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.4% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.6%/yr); 352 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• This rent runs 36% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $121k; list at $200k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,803 (1.5% below list)

Questions for the listing agent

1. Built in 1881 — 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 B-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. 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: 1.03% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $239,960
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1931 5th Ave	0.18mi	3/1.0	1,597 (-7%)	14mo	$165,000	$103	69
332 Jefferson Ave	0.75mi	4/2.0 (+1)	1,719 (+0%)	18mo	$241,500	$140	40
906 Wall St	0.71mi	4/2.5 (+1)	1,772 (+3%)	22mo	$260,000	$147	32
923 Range St	0.70mi	2/2.0 (-1)	1,928 (+12%)	21mo	$235,000	$122	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-2,669
• Equity at exit: $29,791

10-year hold

• IRR: 13.1%
• Equity multiple: 2.28×
• Total profit: $71,487
• Equity at exit: $17,275

Cash invested: $55,944 (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 56001

• Rents YoY: 8.6%
• Active inventory: 352
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,061 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $295

Break-even live

Break-even rent $1,687

Max offer price $199,800

Occupancy floor 81%

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: $49,950
• Closing costs: $5,994
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1247 Range St Unit 116 Mankato, MN	2.0	1.0	1115	$1,500	$1.35	44d	1	0.61mi
320 E Lafayette St Mankato, MN	2.0	1.0	1122	$1,545	$1.38	44d	1	1.00mi
201 N Riverfront Dr Apt 501 Mankato, MN	2.0	2.0	2045	$3,725	$1.82	44d	1	1.28mi

Listing history 23 events

1. 2026-06-19
   days on market $199,800 Active 29 DOM
2. 2026-06-18
   days on market $199,800 Active 28 DOM
3. 2026-06-17
   days on market $199,800 Active 27 DOM
4. 2026-06-16
   days on market $199,800 Active 26 DOM
5. 2026-06-15
   days on market $199,800 Active 25 DOM
6. 2026-06-14
   days on market $199,800 Active 23 DOM
7. 2026-06-13
   days on market $199,800 Active 22 DOM
8. 2026-06-10
   days on market $199,800 Active 20 DOM
9. 2026-06-09
   days on market $199,800 Active 19 DOM
10. 2026-06-08
    days on market $199,800 Active 18 DOM
11. 2026-06-07
    days on market $199,800 Active 17 DOM
12. 2026-06-05
    days on market $199,800 Active 14 DOM
13. 2026-06-03
    days on market $199,800 Active 13 DOM
14. 2026-06-02
    days on market $199,800 Active 12 DOM
15. 2026-06-01
    days on market $199,800 Active 11 DOM
16. 2026-05-31
    days on market $199,800 Active 10 DOM
17. 2026-05-30
    days on market $199,800 Active 9 DOM
18. 2026-05-21
    listed $199,800 Active 627-char remark

    Show marketing remark (627 chars)

    Investment opportunity in Mankato! This duplex offers strong income potential and endless possibilities for the right buyer. Whether you're looking to expand your rental portfolio, live in one unit while renting the other, or renovate and increase value, this property is full of opportunity. Each unit provides functional living space with the chance to add your own updates and improvements. Conveniently located in Mankato near shopping, dining, parks, and schools, this property is a great chance to build equity and generate rental income. Don’t miss out on this versatile investment property with tons of potential!

19. 2026-05-21
    listed $199,800 Active

    Show marketing remark (627 chars)

    Investment opportunity in Mankato! This duplex offers strong income potential and endless possibilities for the right buyer. Whether you're looking to expand your rental portfolio, live in one unit while renting the other, or renovate and increase value, this property is full of opportunity. Each unit provides functional living space with the chance to add your own updates and improvements. Conveniently located in Mankato near shopping, dining, parks, and schools, this property is a great chance to build equity and generate rental income. Don’t miss out on this versatile investment property with tons of potential!

20. 2019-08-30
    soldstatus $121,000 147-char remark

    Show marketing remark (147 chars)

    Up/Down Duplex -- newer vinyl siding, fairly new roof. 26x41 shop with office. Tenants pay their own electric. Owner pays gas, water & sewer.

21. 2019-05-22
    listed $129,900 147-char remark

    Show marketing remark (147 chars)

    Up/Down Duplex -- newer vinyl siding, fairly new roof. 26x41 shop with office. Tenants pay their own electric. Owner pays gas, water & sewer.

22. 1987-02-01
    soldstatus $46,000
23. 1983-04-01
    soldstatus $46,000

ⓘ 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: $2,424 · $202/mo
• Projected year-2 tax: $2,424 · $202/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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $24,735
• − Mortgage interest: −$11,192
• − Property taxes: −$2,424
• − Insurance: −$999
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$5,812
• Taxable income: $350
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $3,460/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

+334.3% since first listed

6 events — show timeline

• 2026-05-21 Listed $199,800 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Listed $199,800 RASM
• 2019-08-30 Sold (MLS) $121,000 RASM
• 2019-05-22 Listed $129,900 RASM
• 1987-02-01 Sold (Public Records) $46,000 Public Records
• 1983-04-01 Sold (Public Records) $46,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,424 · -6.4% YoY. Source: county tax records.