204 11th St SE · Rochester, MN 55904

$239,900

3 bd · 1.0 ba · 1,024 sqft · SingleFamily public records · 13 Days on market

Built 1938 4,748 sqft lot

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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 +8.8/30.0
• ARV discount +7.5/15.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this super cute, 1.5 story home close to downtown! Home has private backyard and a large deck for your enjoyment. Inside features include white cabinets, stainless steel appliances, subway tile backsplash, stone countertops, updated bath, original hardwood floors. The family room in the lower level is another great feature of this era home.

Key facts

• Quartz countertops
• Newer roof
• Updated kitchen

Tags

• ORIGINAL HARDWOOD FLOORS
• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• SUBWAY TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES
• NEWER ROOF

Property features AI

Exterior

• Parking: 1-car garage (approx. 18 x 10); Asphalt parking; 2 carport spaces
• Utilities: City water (connected); City sewer (connected); Natural gas; 100 Amp electric service (Rochester Public Utilities)
• Home design: Residential property; One and one-half stories; Patio
• Construction: Frame construction; Block foundation; Roof replaced within last 8 years; Built with foundation dimensions approximately 24 x 26
• Exterior features: City street frontage with sidewalks; Common lot dimensions

Interior

• Kitchen: Cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (two on main level, one on upper level)
• Bathrooms: 1 full bath (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement (block foundation); Patio
• Laundry & utility: Washer; Dryer; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (28.4% below list).
• Recommended offer: $172k (28.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.6% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln K-8 District-Wide School (math 60% / reading 64%, grade B, #180 of 857 statewide, top 23%, 469 students, 14% FRL); Willow Creek Middle (math 19% / reading 36%, grade F, #213 of 258 statewide, top 82%, 890 students, 45% FRL); Mayo Senior High (math 42% / reading 65%, grade C-, #104 of 471 statewide, top 22%, 1,862 students, 31% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: Rents rising (+2.1%/yr); 151 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,874 (28.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1938 — 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. Schools are A-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?
5. 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?
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: 0.72% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.51%
• DSCR: 0.84
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.1% rent growth · sell at horizon

5-year hold

• IRR: -23.1%
• Equity multiple: 0.21×
• Total profit: $-52,973
• Equity at exit: $35,770

10-year hold

• IRR: -20.1%
• Equity multiple: -0.02×
• Total profit: $-68,617
• Equity at exit: $20,742

Cash invested: $67,172 (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 55904

• Rents YoY: 2.1%
• Active inventory: 151
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$196 /mo · $2,356/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-197

Break-even live

Break-even rent $1,968

Max offer price $205,179

Occupancy floor —

Sensitivity live

Price	-10% $-61	-5% $-129	+0% $-197	+5% $-264	+10% $-332
Rent	-10% $-332	-5% $-264	+0% $-197	+5% $-129	+10% $-61
Rate	-1.0pp $-76	-0.5pp $-136	base $-197	+0.5pp $-259	+1.0pp $-322

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 10th St SE Rochester, MN	2.0	1.0	850	$1,475	$1.74	45d	1	0.29mi
504 14th St SE #6 Rochester, MN	2.0	1.0	725	$995	$1.37	45d	1	0.38mi
1537 6th Ave SE Unit 1523-D Rochester, MN	2.0	1.0	800	$975	$1.22	15d	1	0.57mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	15d	91	0.58mi
814 7th Ave SW Unit back Rochester, MN	3.0	1.0	1400	$3,000	$2.14	45d	1	0.76mi
1732 2nd Ave SE Rochester, MN	2.0	1.0	780	$1,450	$1.86	15d	1	0.76mi
511 3rd Ave SW Rochester, MN	2.0	1.0	647	$1,795	$2.77	15d	26	0.77mi
204 18th St SW Unit 5 Rochester, MN	2.0	1.5	1036	$1,545	$1.49	23d	1	0.87mi
220 Broadway Ave S #911 Rochester, MN	2.0	2.0	1078	$1,750	$1.62	45d	1	0.90mi
513 13th Ave SE Rochester, MN	2.0	1.0	850	$1,550	$1.82	45d	1	0.93mi
897 16th Ave SE Rochester, MN	4.0	1.5	1200	$1,395	$1.16	15d	1	0.98mi
718 5th St SW Rochester, MN	2.0	1.0	722	$1,400	$1.94	15d	4	0.98mi
207 5th Ave SW Rochester, MN	3.0	2.0	1500	$2,100	$1.40	45d	1	1.05mi
123 11th Ave SE Unit 2 Rochester, MN	2.0	1.0	1150	$950	$0.83	23d	1	1.09mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	15d	40	1.11mi
603 1st St SW Rochester, MN	2.0	1.0	512	$1,295	$2.53	15d	3	1.17mi
1505 Marion Rd SE Rochester, MN	1.0–3.0	1.0–2.0	864	$1,630	$1.89	15d	1	1.23mi
2041 14th St SE Rochester, MN	2.0	1.0	1012	$1,700	$1.68	23d	1	1.27mi
1902 8 1/2 St SE Unit Andover 1902-D Rochester, MN	3.0	2.0	1100	$1,250	$1.14	45d	1	1.30mi
2016 8 1/2 St SE Unit Andover 2016-A Rochester, MN	3.0	2.0	1100	$1,250	$1.14	45d	1	1.33mi
401 Broadway Ave N Rochester, MN	2.0	1.0–2.0	799	$1,977	$2.47	15d	22	1.33mi
619 2nd St NW Unit 2 Rochester, MN	3.0	1.5	1435	$1,575	$1.10	15d	1	1.35mi
400 1st Ave NW Rochester, MN	1.0–2.0	1.0–2.0	819	$1,510	$1.84	15d	7	1.38mi
826 21st Ave SE Rochester, MN	4.0	2.0	1250	$1,508	$1.21	15d	11	1.45mi
2094 11th Ave SE Unit D Rochester, MN	2.0	1.0	827	$1,350	$1.63	15d	1	1.46mi

Listing history 24 events

1. 2026-05-05
   status Pending
2. 2026-04-25
   historical Contingent - Inspection
3. 2026-04-22
   listed $239,900 Active
4. 2025-11-12
   historical
5. 2025-10-15
   status Active
6. 2025-10-14
   historical
7. 2025-10-08
   price $239,900
8. 2025-09-26
   listed $250,000 Active
9. 2024-04-12
   soldstatus $230,000
10. 2024-04-10
    soldstatus $230,000 Sold 352-char remark

    Show marketing remark (352 chars)

    Check out this super cute, 1.5 story home close to downtown! Home has private backyard and a large deck for your enjoyment. Inside features include white cabinets, stainless steel appliances, subway tile backsplash, stone countertops, updated bath, original hardwood floors. The family room in the lower level is another great feature of this era home.

11. 2024-03-14
    status Pending 352-char remark

    Show marketing remark (352 chars)

    Check out this super cute, 1.5 story home close to downtown! Home has private backyard and a large deck for your enjoyment. Inside features include white cabinets, stainless steel appliances, subway tile backsplash, stone countertops, updated bath, original hardwood floors. The family room in the lower level is another great feature of this era home.

12. 2024-03-07
    listed $230,000 Active 352-char remark

    Show marketing remark (352 chars)

    Check out this super cute, 1.5 story home close to downtown! Home has private backyard and a large deck for your enjoyment. Inside features include white cabinets, stainless steel appliances, subway tile backsplash, stone countertops, updated bath, original hardwood floors. The family room in the lower level is another great feature of this era home.

13. 2022-11-22
    soldstatus $185,000
14. 2022-11-14
    soldstatus $185,000 Sold
15. 2022-11-04
    status Pending
16. 2022-11-01
    historical Contingent - Inspection
17. 2022-10-18
    price $194,900
18. 2022-10-04
    price $199,900
19. 2022-10-03
    price $204,900
20. 2022-09-19
    listed $209,900 Active
21. 2018-12-10
    historical
22. 2018-09-29
    soldstatus $150,000
23. 2018-09-28
    soldstatus $150,000
24. 2018-08-02
    listed $149,900

ⓘ 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: $2,356 · $196/mo
• Projected year-2 tax: $2,521 · $210/mo
• Expected delta: +$165/yr (+$14/mo · 7.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $20,625
• − Mortgage interest: −$13,438
• − Property taxes: −$2,356
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$6,979
• Taxable loss: −$6,648
• Est. tax savings @ 24.0%: +$1,595
• After-tax cash flow: $-763/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 29,639
• Household income: $77,016
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 864.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 11% Lithuanian 2% Italian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 5% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.04%
• Current HPI: 267.168
• Rent YoY: ▲ 2.10%
• Metro: Rochester, 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

+60.0% since first listed

24 events — show timeline

• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-15 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-08 Price Changed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-26 Listed $250,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-12 Sold (Public Records) $230,000 Public Records
• 2024-04-10 Sold (MLS) $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-07 Listed $230,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-22 Sold (Public Records) $185,000 Public Records
• 2022-11-14 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-18 Price Changed $194,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-04 Price Changed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-03 Price Changed $204,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-19 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-29 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-28 Sold (Public Records) $150,000 Public Records
• 2018-08-02 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2025): $2,356 · -0.5% YoY. Source: county tax records.