215 Front St E · Redwood Falls, MN 56283

$119,500

2 bd · 1.0 ba · 788 sqft · SingleFamily public records · 154 Days on market

Built 1911

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why keep renting when you can start building equity in a home that offers small-town charm in North Redwood? This property sits on an expansive lot comprised of five combined parcels and includes a rare insulated 36' x 24' garage/shop with 200-amp electrical service—perfect for hobbies, storage, or extra workspace—plus a 10' x 12' shed. Inside, you’ll find nice kitchen cabinetry and flooring, a remodeled bathroom, a dedicated dining room, and a versatile bonus room with new carpet that can adapt to your needs. Enjoy additional living space in the updated three-season porch. A unique opportunity with room to live, work, and grow—schedule your private showing today.

Key facts

• 4 garage spots
• Built 1911
• Listed 153 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $160 ($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 $119k (0.5% below list).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 6.0% in Redwood Falls — 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 76/100 on livability (#169 in MN, #3,642 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Redwood Area School District (town): math 39% / reading 46% proficiency, ranked #207 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $120k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1911 — 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. 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: 0.99% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.75%
• DSCR: 1.26
• GRM: 8.4

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,159
• Equity at exit: $17,818

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $5,135
• Equity at exit: $10,332

Cash invested: $33,460 (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 56283

• Home prices YoY: -15.6%
• Active inventory: 46
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,188 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$102 /mo · $1,224/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $160

Break-even live

Break-even rent $985

Max offer price $119,500

Occupancy floor 82%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $119,500 Active 154 DOM
2. 2026-06-17
   days on market $119,500 Active 153 DOM
3. 2026-06-16
   days on market $119,500 Active 152 DOM
4. 2026-06-15
   days on market $119,500 Active 151 DOM
5. 2026-06-13
   days on market $119,500 Active 149 DOM
6. 2026-06-12
   days on market $119,500 Active 148 DOM
7. 2026-06-09
   days on market $119,500 Active 145 DOM
8. 2026-06-08
   days on market $119,500 Active 144 DOM
9. 2026-06-07
   days on market $119,500 Active 143 DOM
10. 2026-06-05
    days on market $119,500 Active 141 DOM
11. 2026-06-04
    days on market $119,500 Active 139 DOM
12. 2026-06-02
    days on market $119,500 Active 138 DOM
13. 2026-06-01
    days on market $119,500 Active 137 DOM
14. 2026-05-31
    days on market $119,500 Active 136 DOM
15. 2026-05-31
    days on market $119,500 Active 135 DOM
16. 2026-04-27
    price $119,500 696-char remark

    Show marketing remark (696 chars)

    Why keep renting when you can start building equity in a home that offers small-town charm in North Redwood? This property sits on an expansive lot comprised of five combined parcels and includes a rare insulated 36' x 24' garage/shop with 200-amp electrical service—perfect for hobbies, storage, or extra workspace—plus a 10' x 12' shed. Inside, you’ll find nice kitchen cabinetry and flooring, a remodeled bathroom, a dedicated dining room, and a versatile bonus room with new carpet that can adapt to your needs. Enjoy additional living space in the updated three-season porch. A unique opportunity with room to live, work, and grow—schedule your private showing today.

17. 2026-03-14
    price $129,900 696-char remark

    Show marketing remark (696 chars)

    Why keep renting when you can start building equity in a home that offers small-town charm in North Redwood? This property sits on an expansive lot comprised of five combined parcels and includes a rare insulated 36' x 24' garage/shop with 200-amp electrical service—perfect for hobbies, storage, or extra workspace—plus a 10' x 12' shed. Inside, you’ll find nice kitchen cabinetry and flooring, a remodeled bathroom, a dedicated dining room, and a versatile bonus room with new carpet that can adapt to your needs. Enjoy additional living space in the updated three-season porch. A unique opportunity with room to live, work, and grow—schedule your private showing today.

18. 2026-01-16
    listed $150,000 Active 696-char remark

    Show marketing remark (696 chars)

    Why keep renting when you can start building equity in a home that offers small-town charm in North Redwood? This property sits on an expansive lot comprised of five combined parcels and includes a rare insulated 36' x 24' garage/shop with 200-amp electrical service—perfect for hobbies, storage, or extra workspace—plus a 10' x 12' shed. Inside, you’ll find nice kitchen cabinetry and flooring, a remodeled bathroom, a dedicated dining room, and a versatile bonus room with new carpet that can adapt to your needs. Enjoy additional living space in the updated three-season porch. A unique opportunity with room to live, work, and grow—schedule your private showing today.

19. 2026-01-07
    historical $150,000 696-char remark

    Show marketing remark (696 chars)

    Why keep renting when you can start building equity in a home that offers small-town charm in North Redwood? This property sits on an expansive lot comprised of five combined parcels and includes a rare insulated 36' x 24' garage/shop with 200-amp electrical service—perfect for hobbies, storage, or extra workspace—plus a 10' x 12' shed. Inside, you’ll find nice kitchen cabinetry and flooring, a remodeled bathroom, a dedicated dining room, and a versatile bonus room with new carpet that can adapt to your needs. Enjoy additional living space in the updated three-season porch. A unique opportunity with room to live, work, and grow—schedule your private showing today.

20. 2022-05-25
    historical
21. 2022-04-21
    price $79,000
22. 2022-03-19
    status Active
23. 2022-03-03
    listed $83,900 Active
24. 2020-06-15
    soldstatus $75,000 Sold
25. 2020-06-15
    soldstatus $75,000
26. 2019-11-07
    status Pending
27. 2019-05-16
    listed $75,000 Active
28. 2019-05-13
    historical $75,000
29. 2007-04-01
    soldstatus $46,500

ⓘ 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: $1,224 · $102/mo
• Projected year-2 tax: $1,281 · $107/mo
• Expected delta: +$57/yr (+$5/mo · 4.7%)

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

Taxation est. · year 1

• Rental income: $14,261
• − Mortgage interest: −$6,694
• − Property taxes: −$1,224
• − Insurance: −$598
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$3,476
• Taxable loss: −$12
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $1,928/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: Redwood Area School District
• NCES district ID: 2700182
• Math proficiency: 39% ▼ -14.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $45,326
• Composite: 36.1/100
• National rank: #4756
• State rank: #207 of 301 in MN

Livability — Redwood Falls

• Score: 76/100
• State rank: #169
• US rank: #3642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redwood Falls, MN
• Population (ZIP): 6,469

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 4% Native American 3%
• Common ancestry: Portuguese 12% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.40%
• Current HPI: 213.8535
• 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

+157.0% since first listed

14 events — show timeline

• 2026-04-27 Price Changed $119,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-14 Price Changed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-16 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-07 Coming Soon $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-21 Price Changed $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-03 Listed $83,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-06-15 Sold (Public Records) $75,000 Public Records
• 2020-06-15 Sold (MLS) $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-16 Listed $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-13 Coming Soon $75,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-04-01 Sold (Public Records) $46,500 Public Records

Property tax history

+15.7%/yr

Latest (2025): $1,224 · +23.1% YoY. Source: county tax records.