215 3rd Ave NE · St. Cloud, MN 56304

$159,000

4 bd · 3.0 ba · 1,930 sqft · Other · 24 Days on market

Built 1902 7,361 sqft lot

---

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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cash Flow! This Duplex is reasonably priced and allows for instant cash flow. Unit 1 features main level living 2 bedrooms, 1 bathroom and over 1,000 square feet. Unit 2 is an upper level unit that offers 2 bedroom, 2 bathrooms, gas fireplace and just under 1000 square feet. Don't miss out on this great opportunity!

Key facts

• Generous lot
• Front porch
• Two stall garage

Tags

• DUPLEX CONFIGURATION
• FRONT PORCH
• TWO STALL GARAGE
• GENEROUS LOT

Property features AI

Finance

• Financial info: Property type is residential income with 2 total units; Gross income: $22,560; Net operating income: $16,820; Owner pays insurance, repairs, and taxes; Tenant pays electricity, fuel, lawn care, and snow removal; Water/sewer expense: $1,800; Insurance expense: $1,665; Maintenance expense: $1,200; Other annual assessment: $10
• HOA & community: Porch listed as an association amenity

Exterior

• Parking: Gravel parking; 2-car detached garage (28x28)
• Utilities: City water connected; City sewer connected; Natural gas; Electric service with circuit breakers
• Home design: Residential income duplex (up-and-down configuration); Two levels
• Construction: Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Enclosed porch; Metal exterior; City street frontage; Medium tree coverage; Public transit within about 6 blocks

Interior

• Kitchen: Each unit equipped with range and refrigerator
• Bedrooms: Total of 4 bedrooms (two 2-bedroom units)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom and 1 three-quarter bathroom
• Heating & cooling: Baseboard heating; Forced air
• Interior features: Full, unfinished basement; Common area laundry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $159k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.9% in St. Cloud — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St. Cloud Public School District (urban): math 27% / reading 38% proficiency, ranked #264 of 301 in MN (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 116 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Benton County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($58k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1902 — 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. 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.
4. 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.
5. 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: 1.19% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $987
• Equity at exit: $23,707

10-year hold

• IRR: 11.0%
• Equity multiple: 1.89×
• Total profit: $39,740
• Equity at exit: $13,747

Cash invested: $44,520 (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 56304

• Home prices YoY: -21.4%
• Rents YoY: 3.8%
• Active inventory: 116
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,888 high
• Mortgage (P&I): −$834
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $396

Break-even live

Break-even rent $1,387

Max offer price $159,000

Occupancy floor 74%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 5th Ave S Saint Cloud, MN	4.0	2.5	2300	$1,500	$0.65	43d	1	1.04mi
1540 State Highway 23 Saint Cloud, MN	1.0–3.0	1.0–2.0	1050	$1,325	$1.26	1d	10	1.25mi
801 15th Ave S Unit 1 St Cloud, MN	4.0	2.0	1525	$1,900	$1.25	43d	1	1.26mi
1205 11th St SE Saint Cloud, MN	4.0	2.0	1416	$2,450	$1.73	43d	1	1.32mi
1225 13th St SE Saint Cloud, MN	4.0	3.0	1500	$2,450	$1.63	43d	1	1.45mi
444 23rd Ave N Saint Cloud, MN	3.0	2.0	1373	$1,745	$1.27	43d	1	1.45mi
624 13th St S Unit US-201 St Cloud, MN	4.0	1.0	1250	$1,495	$1.20	43d	1	1.46mi

Listing history 15 events

1. 2026-05-17
   historical Contingent - Inspection 1104-char remark
2. 2026-04-30
   listed $159,000 Active 1104-char remark
3. 2020-03-02
   soldstatus $100,000
4. 2020-02-26
   soldstatus $100,000 Sold 321-char remark

   Show marketing remark (321 chars)

   Cash Flow! This Duplex is reasonably priced and allows for instant cash flow. Unit 1 features main level living 2 bedrooms, 1 bathroom and over 1,000 square feet. Unit 2 is an upper level unit that offers 2 bedroom, 2 bathrooms, gas fireplace and just under 1000 square feet. Don't miss out on this great opportunity!

5. 2020-01-09
   status Pending 321-char remark

   Show marketing remark (321 chars)

   Cash Flow! This Duplex is reasonably priced and allows for instant cash flow. Unit 1 features main level living 2 bedrooms, 1 bathroom and over 1,000 square feet. Unit 2 is an upper level unit that offers 2 bedroom, 2 bathrooms, gas fireplace and just under 1000 square feet. Don't miss out on this great opportunity!

6. 2019-11-29
   historical Contingent - Inspection 321-char remark

   Show marketing remark (321 chars)

   Cash Flow! This Duplex is reasonably priced and allows for instant cash flow. Unit 1 features main level living 2 bedrooms, 1 bathroom and over 1,000 square feet. Unit 2 is an upper level unit that offers 2 bedroom, 2 bathrooms, gas fireplace and just under 1000 square feet. Don't miss out on this great opportunity!

7. 2019-10-05
   listed $110,000 Active 321-char remark

   Show marketing remark (321 chars)

   Cash Flow! This Duplex is reasonably priced and allows for instant cash flow. Unit 1 features main level living 2 bedrooms, 1 bathroom and over 1,000 square feet. Unit 2 is an upper level unit that offers 2 bedroom, 2 bathrooms, gas fireplace and just under 1000 square feet. Don't miss out on this great opportunity!

8. 2014-01-10
   soldstatus $78,000
9. 2014-01-08
   soldstatus $78,000 Sold

   Show marketing remark (173 chars)

   Upper unit has new flooring & paint featuring 2BR/2BA. Main unit features hardwood floors, 2BR/1BA. FRONT PORCH. 2 WATER METERS, 2 ELEC METERS & BOXES, 2 GAS METERS.

10. 2013-11-28
    historical Contingent - Inspection

    Show marketing remark (173 chars)

    Upper unit has new flooring & paint featuring 2BR/2BA. Main unit features hardwood floors, 2BR/1BA. FRONT PORCH. 2 WATER METERS, 2 ELEC METERS & BOXES, 2 GAS METERS.

11. 2013-11-07
    status Active

    Show marketing remark (173 chars)

    Upper unit has new flooring & paint featuring 2BR/2BA. Main unit features hardwood floors, 2BR/1BA. FRONT PORCH. 2 WATER METERS, 2 ELEC METERS & BOXES, 2 GAS METERS.

12. 2013-10-17
    historical Contingent - Inspection

    Show marketing remark (173 chars)

    Upper unit has new flooring & paint featuring 2BR/2BA. Main unit features hardwood floors, 2BR/1BA. FRONT PORCH. 2 WATER METERS, 2 ELEC METERS & BOXES, 2 GAS METERS.

13. 2013-10-01
    listed $84,900 Active

    Show marketing remark (173 chars)

    Upper unit has new flooring & paint featuring 2BR/2BA. Main unit features hardwood floors, 2BR/1BA. FRONT PORCH. 2 WATER METERS, 2 ELEC METERS & BOXES, 2 GAS METERS.

14. 2002-07-08
    soldstatus $89,000
15. 2002-05-06
    listed $84,900

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $2,344 · $195/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,652
• − Mortgage interest: −$8,906
• − Property taxes: −$2,344
• − Insurance: −$795
• − Repairs & maintenance: −$1,812
• − Management: −$1,812
• − Depreciation: −$4,625
• Taxable income: $2,357
• Est. tax owed @ 24.0%: −$566
• After-tax cash flow: $4,185/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: St. Cloud Public School District
• NCES district ID: 2733510
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $46,638
• Composite: 27.91/100
• National rank: #6866
• State rank: #264 of 301 in MN

Livability — St. Cloud

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Cloud, MN
• County: Sherburne County · 120,363 people
• City population: 60,914
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• Population (ZIP): 17,473
• Household income: $58,148
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1175.0

Population outlook (Benton County) Hauer SSP2

• Today (2025): 41,796 people
• By 2030: 42,497 · +1.7%
• By 2040: 43,143 · +3.2%
• By 2050: 42,809 · +2.4%
• By 2075: 39,973 · -4.4%
• By 2100: 36,969 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 17% Two or more races 9% Asian 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Portuguese 6% Romanian 5% Slovak 3%
• Foreign-born: 10% · Vietnam, Canada, China
• Languages at home: 85% English-only · Spanish 3% Vietnamese 2% Other Asian/Pacific 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+35.9) · D 31.1% · R 67.0% · Other 1.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -9.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.9 2016: R+36.3 2012: R+13.7 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.11%
• Current HPI: 220.2539
• Rent YoY: ▲ 3.79%
• Metro: Minneapolis-St. Paul-Bloomington, MN-WI
• 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

+70.8% since first listed

17 events — show timeline

• 2026-06-15 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Listed $159,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-03-02 Sold (Public Records) $100,000 Public Records
• 2020-02-26 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-11-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2019-10-05 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-01-10 Sold (Public Records) $78,000 Public Records
• 2014-01-08 Sold (MLS) $78,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-07 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-01 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2002-07-08 Sold (MLS) $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-05-06 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $2,344 · +2.4% YoY. Source: county tax records.