48330 206th St · Lake Crystal, MN 56001

$134,000

5 bd · 1.0 ba · 1,488 sqft · SingleFamily public records · 222 Days on market

Built 1890 0.60 ac lot Est $134k · at est.

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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
• Schools +4.9/10.0
• Rent growth +4.6/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home offers great space in a country-like setting. Grab your tool belt and start packing! The main floor has a large kitchen with separate dining space, main floor bedroom and laundry, living room and full bath. Upstairs are 3 additional bedrooms and an office space. The basement is unfinished but has plenty of room for storage. The large shop is heated with 2 separate storage rooms. Separate propane for shop and home. Great opportunity to build sweat equity!

Key facts

• Unfinished basement
• Large kitchen
• Good ceiling height

Tags

• LARGE KITCHEN
• SEPARATE DINING SPACE
• UNFINISHED BASEMENT
• PLENTY OF ROOM FOR STORAGE
• GOOD CEILING HEIGHT
• PLENTY OF SPACE FOR GARDENING

Property features AI

Exterior

• Parking: 2-car garage; Gravel parking
• Utilities: Private water
• Home design: Single-family residential property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Asphalt roof; Irregular-shaped lot (0.6 acres)

Interior

• Kitchen: Dishwasher; Cooktop; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane forced-air heating; Central air; Window air conditioning units
• Interior features: Dishwasher; Dryer; Cooktop; Range; Refrigerator; Washer; Electric water heater; Water softener; Central air; Window AC units; Propane heating; Forced air heating; Full unfinished basement with sump pump
• Laundry & utility: Washer; Dryer; Electric water heater; Water softener

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#227 in MN, #4,821 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Lake Crystal-Wellcome Memorial (rural): math 57% / reading 55% proficiency, ranked #60 of 301 in MN (top 20%) — 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; 269 units permitted in Blue Earth County in 2024 (154 in 5+ unit buildings).
• This rent runs 39% 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 $926 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.67% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.65%
• DSCR: 2.32
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $133,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48330 206th St	0.00mi	5/1.0	1,488 (0%)	0mo	$134,000	$90	100

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: 29.5%
• Equity multiple: 2.31×
• Total profit: $49,114
• Equity at exit: $19,980

10-year hold

• IRR: 39.5%
• Equity multiple: 5.60×
• Total profit: $172,465
• Equity at exit: $11,586

Cash invested: $37,520 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,235 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$80 /mo · $962/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $927

Break-even live

Break-even rent $1,062

Max offer price $134,000

Occupancy floor 54%

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-15
   status Pending
2. 2026-04-11
   price $134,000
3. 2026-02-05
   price $144,000
4. 2025-10-03
   listed $149,000 Active
5. 2024-07-24
   soldstatus $125,000
6. 2024-07-19
   soldstatus $125,000 Closed 468-char remark

   Show marketing remark (468 chars)

   This home offers great space in a country-like setting. Grab your tool belt and start packing! The main floor has a large kitchen with separate dining space, main floor bedroom and laundry, living room and full bath. Upstairs are 3 additional bedrooms and an office space. The basement is unfinished but has plenty of room for storage. The large shop is heated with 2 separate storage rooms. Separate propane for shop and home. Great opportunity to build sweat equity!

7. 2024-06-27
   status Pending 468-char remark

   Show marketing remark (468 chars)

   This home offers great space in a country-like setting. Grab your tool belt and start packing! The main floor has a large kitchen with separate dining space, main floor bedroom and laundry, living room and full bath. Upstairs are 3 additional bedrooms and an office space. The basement is unfinished but has plenty of room for storage. The large shop is heated with 2 separate storage rooms. Separate propane for shop and home. Great opportunity to build sweat equity!

8. 2024-06-12
   listed $139,900 Active 468-char remark

   Show marketing remark (468 chars)

   This home offers great space in a country-like setting. Grab your tool belt and start packing! The main floor has a large kitchen with separate dining space, main floor bedroom and laundry, living room and full bath. Upstairs are 3 additional bedrooms and an office space. The basement is unfinished but has plenty of room for storage. The large shop is heated with 2 separate storage rooms. Separate propane for shop and home. Great opportunity to build sweat equity!

9. 2024-06-08
   historical $139,900 468-char remark

   Show marketing remark (468 chars)

   This home offers great space in a country-like setting. Grab your tool belt and start packing! The main floor has a large kitchen with separate dining space, main floor bedroom and laundry, living room and full bath. Upstairs are 3 additional bedrooms and an office space. The basement is unfinished but has plenty of room for storage. The large shop is heated with 2 separate storage rooms. Separate propane for shop and home. Great opportunity to build sweat equity!

10. 2010-10-21
    soldstatus $11,500 86-char remark

    Show marketing remark (86 chars)

    This property is now under auction terms. Terms are "cash, as is, where is".

11. 2010-10-06
    historical 86-char remark

    Show marketing remark (86 chars)

    This property is now under auction terms. Terms are "cash, as is, where is".

12. 2010-04-01
    listed $11,500 86-char remark

    Show marketing remark (86 chars)

    This property is now under auction terms. Terms are "cash, as is, where is".

13. 2009-04-08
    listed $69,900
14. 2006-08-24
    historical
15. 2006-04-24
    listed $99,900
16. 2004-06-25
    soldstatus $32,000
17. 1997-11-06
    soldstatus $20,000
18. 1991-06-28
    soldstatus $20,000

ⓘ 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: $962 · $80/mo
• Projected year-2 tax: $1,231 · $103/mo
• Expected delta: +$269/yr (+$22/mo · 28.0%)

ⓘ 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 1/10 Low
• 🌡 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: $26,820
• − Mortgage interest: −$7,506
• − Property taxes: −$962
• − Insurance: −$670
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − Depreciation: −$3,898
• Taxable income: $9,492
• Est. tax owed @ 24.0%: −$2,278
• After-tax cash flow: $8,845/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: Lake Crystal-Wellcome Memorial
• NCES district ID: 2791445
• Math proficiency: 57% ▲ 3.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $62,593
• Composite: 48.98/100
• National rank: #2071
• State rank: #60 of 301 in MN

Livability — Lake Crystal

• Score: 74/100
• State rank: #227
• US rank: #4821

Category grades

Amenities F 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

• County: Blue Earth County · 51,585 people
• 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

+570.0% since first listed

18 events — show timeline

• 2026-05-15 Pending — RASM
• 2026-04-11 Price Changed $134,000 RASM
• 2026-02-05 Price Changed $144,000 RASM
• 2025-10-03 Listed $149,000 RASM
• 2024-07-24 Sold (Public Records) $125,000 Public Records
• 2024-07-19 Sold (MLS) $125,000 RASM
• 2024-06-27 Pending — RASM
• 2024-06-12 Listed $139,900 RASM
• 2024-06-08 Coming Soon $139,900 RASM
• 2010-10-21 Sold (MLS) $11,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-01 Listed $11,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-08 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-08-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2006-04-24 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-25 Sold (Public Records) $32,000 Public Records
• 1997-11-06 Sold (Public Records) $20,000 Public Records
• 1991-06-28 Sold (Public Records) $20,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $962 · +8.1% YoY. Source: county tax records.