717 N 5th St · New Ulm, MN 56073

$199,900

4 bd · 2.0 ba · 1,610 sqft · SingleFamily public records · 13 Days on market

Built 1947 7,841 sqft lot Est $217k · 8% under

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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 +14.4/30.0
• ARV discount +11.1/15.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Walk to School! Remodeled 4 bedroom, 3 bath home with 3 garage stalls. Beautiful hardwood floors, many new windows, new vinyl siding on the detached garage, abundant storage with walk-in closets, freshly painted exterior and interior, updated bathrooms, new gutters and downspouts, pear tree in the back yard- good for eating!

Key facts

• Close to parks
• Close to schools
• Fenced back yard

Tags

• HARDWOOD FLOORS
• OPEN-CONCEPT KITCHEN
• LARGE MUD ROOM
• FENCED BACK YARD
• CLOSE TO SCHOOLS
• CLOSE TO PARKS

Property features AI

Exterior

• Parking: 3-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Above-grade finished area: 1,610
• Exterior features: Asphalt roof; Publicly maintained road

Interior

• Kitchen: Dishwasher; Microwave; Cooktop; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Walk-in closet(s); Eat-in kitchen; Full, unfinished basement; Smoke detectors
• Laundry & utility: Washer; Dryer; Water softener

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $41 ($486/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 $180k (10.0% below list).
• Recommended offer: $180k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in New Ulm — 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 82/100 on livability (#39 in MN, #1,102 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• New Ulm Public School District (town): math 51% / reading 51% proficiency, ranked #104 of 301 in MN (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 41 units permitted in Brown County in 2024 (18 in 5+ unit buildings).

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.
• Brown County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y 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 $108k; list at $200k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,000 (10.0% below list)

Questions for the listing agent

1. Built in 1947 — 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. 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: 0.90% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.87%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $217,350
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 N State St	0.16mi	4/1.5	1,676 (+4%)	7mo	$205,000	$122	78
327 N Broadway St	0.13mi	4/1.5	1,766 (+10%)	1mo	$175,000	$99	74
304 N Washington St	0.13mi	3/1.5 (-1)	1,505 (-6%)	6mo	$227,000	$151	71
719 N Spring St	0.42mi	3/1.0 (-1)	1,598 (-1%)	1mo	$96,000	$60	70
117 N Payne St	0.40mi	3/2.5 (-1)	1,591 (-1%)	6mo	$250,000	$157	68
414 N Payne St	0.26mi	3/1.5 (-1)	1,752 (+9%)	6mo	$284,900	$163	61
217 S Jefferson St	0.64mi	3/2.0 (-1)	1,612 (+0%)	7mo	$231,000	$143	59
1006 State Street North St	0.45mi	3/2.0 (-1)	1,785 (+11%)	1mo	$220,000	$123	55
1020 N Minnesota St	0.54mi	3/1.5 (-1)	1,813 (+13%)	3mo	$215,000	$119	45
112 Jefferson St St S	0.56mi	3/2.0 (-1)	1,778 (+10%)	9mo	$240,000	$135	44
100 S Front St	0.72mi	4/2.0	1,400 (-13%)	3mo	$170,000	$121	42
11 N Payne St	0.48mi	3/1.5 (-1)	1,825 (+13%)	8mo	$254,900	$140	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-29,783
• Equity at exit: $29,806

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-22,500
• Equity at exit: $17,284

Cash invested: $55,972 (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 56073

• Active inventory: 85
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $41

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 93%

Sensitivity live

Price	-10% $179	-5% $110	+0% $41	+5% $-29	+10% $-98
Rent	-10% $-102	-5% $-31	+0% $41	+5% $112	+10% $183
Rate	-1.0pp $141	-0.5pp $91	base $41	+0.5pp $-11	+1.0pp $-64

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Center St New Ulm, MN	3.0	2.0	1606	$1,800	$1.12	44d	1	0.40mi

Listing history 29 events

1. 2026-06-12
   statusdays on market $199,900 Pending 13 DOM
2. 2026-06-09
   days on market $199,900 Active Under Contract 12 DOM
3. 2026-06-08
   days on market $199,900 Active Under Contract 11 DOM
4. 2026-06-07
   days on market $199,900 Active Under Contract 10 DOM
5. 2026-06-07
   days on market $199,900 Active Under Contract 9 DOM
6. 2026-06-04
   days on market $199,900 Active Under Contract 6 DOM
7. 2026-06-02
   statusdays on market $199,900 Active Under Contract 5 DOM
8. 2026-06-01
   days on market $199,900 Active 4 DOM
9. 2026-05-31
   days on market $199,900 Active 3 DOM
10. 2026-05-31
    days on market $199,900 Active 2 DOM
11. 2026-05-28
    listed $199,900 Active
12. 2016-11-11
    soldstatus $107,500 326-char remark

    Show marketing remark (326 chars)

    Walk to School! Remodeled 4 bedroom, 3 bath home with 3 garage stalls. Beautiful hardwood floors, many new windows, new vinyl siding on the detached garage, abundant storage with walk-in closets, freshly painted exterior and interior, updated bathrooms, new gutters and downspouts, pear tree in the back yard- good for eating!

13. 2016-08-25
    listed $125,500 326-char remark

    Show marketing remark (326 chars)

    Walk to School! Remodeled 4 bedroom, 3 bath home with 3 garage stalls. Beautiful hardwood floors, many new windows, new vinyl siding on the detached garage, abundant storage with walk-in closets, freshly painted exterior and interior, updated bathrooms, new gutters and downspouts, pear tree in the back yard- good for eating!

14. 2010-08-30
    soldstatus $52,500 154-char remark

    Show marketing remark (154 chars)

    This home has good space and hardwood floors on each floor. Tons of potential with some effort. One stall attached garage and a two stall detached garage.

15. 2010-08-30
    soldstatus $52,500

    Show marketing remark (154 chars)

    This home has good space and hardwood floors on each floor. Tons of potential with some effort. One stall attached garage and a two stall detached garage.

16. 2010-07-26
    historical 154-char remark

    Show marketing remark (154 chars)

    This home has good space and hardwood floors on each floor. Tons of potential with some effort. One stall attached garage and a two stall detached garage.

17. 2010-06-08
    listed $54,900 154-char remark

    Show marketing remark (154 chars)

    This home has good space and hardwood floors on each floor. Tons of potential with some effort. One stall attached garage and a two stall detached garage.

18. 2010-06-08
    listed $54,900

    Show marketing remark (154 chars)

    This home has good space and hardwood floors on each floor. Tons of potential with some effort. One stall attached garage and a two stall detached garage.

19. 2007-03-22
    soldstatus $110,000
20. 2007-03-14
    historical
21. 2007-02-22
    soldstatus $112,000
22. 2006-11-13
    historical
23. 2006-09-22
    listed $119,900
24. 2006-09-22
    listed $119,900
25. 2006-09-16
    historical
26. 2006-04-13
    listed $119,900
27. 2006-03-28
    historical
28. 2005-10-18
    listed $119,900
29. 1992-09-17
    soldstatus $59,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $21,600
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,815
• Taxable loss: −$2,867
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $1,174/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: New Ulm Public School District
• NCES district ID: 2723490
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $53,171
• Composite: 43.93/100
• National rank: #2906
• State rank: #104 of 301 in MN

Livability — New Ulm

• Score: 82/100
• State rank: #39
• US rank: #1102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Ulm, MN
• City population: 17,325
• Population (ZIP): 17,325

Population outlook (Brown County) Hauer SSP2

• Today (2025): 24,403 people
• By 2030: 23,790 · -2.5%
• By 2040: 22,309 · -8.6%
• By 2050: 20,948 · -14.2%
• By 2075: 19,038 · -22.0%
• By 2100: 16,658 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 9% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+35.2) · D 31.5% · R 66.7% · Other 1.8%
• 2008→2024 swing: -23.1pp toward R · 2008: -12.1pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+32.8 2016: R+36.2 2012: R+16.6 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -166.22%
• Current HPI: 192.7295
• 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

+236.0% since first listed

19 events — show timeline

• 2026-05-28 Listed $199,900 RASM
• 2016-11-11 Sold (MLS) $107,500 RASM
• 2016-08-25 Listed $125,500 RASM
• 2010-08-30 Sold (MLS) $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-30 Sold (MLS) $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-07-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-08 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-08 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-22 Sold (MLS) $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-03-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-02-22 Sold (Public Records) $112,000 Public Records
• 2006-11-13 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-22 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-22 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-13 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-03-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2005-10-18 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 1992-09-17 Sold (Public Records) $59,500 Public Records

Property tax history

-28.1%/yr

Latest (2025): $40 · +0.0% YoY. Source: county tax records.