121 2nd St N · Kiester, MN 56051

$59,900

1 bd · 2.0 ba · 948 sqft · Other public records · 7 Days on market

Built 1910 6,969 sqft lot

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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
• Appreciation +6.1/10.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this cute and cozy home on a nice corner lot in Kiester walkable to uptown. One level living with 2 bedrooms, full bath and laundry all on the main level. Call to schedule your private showing!

Key facts

• 6,969 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Attached garage with garage door opener (1-car garage)
• Utilities: City water connected; City sewer connected; Electric with circuit breakers; Propane fuel
• Home design: Residential one-level home; Walk-up attic
• Construction: Asphalt roof (age over 8 years); Brick/mortar foundation; Partial unfinished basement with sump pump
• Exterior features: Deck; Medium tree coverage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (one main-level bedroom listed at 10x11; second bedroom 7x8)
• Bathrooms: One full bathroom on main level; One three-quarter bathroom in basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Exhaust fan; Kitchen window; Walk-up attic
• Laundry & utility: Main-level laundry room; Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($914 rent vs $60k).

Location & tenants

• Location reads 62/100 on livability (#710 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime D-.
• United South Central School District (rural): math 46% / reading 53% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (2.1% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $15k; list at $60k implies a 299% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.53% ✓
• Cap rate: 11.39%
• Cash-on-cash: 18.20%
• DSCR: 1.81
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 2.24×
• Total profit: $20,765
• Equity at exit: $24,066

10-year hold

• IRR: 24.6%
• Equity multiple: 4.27×
• Total profit: $54,769
• Equity at exit: $34,997

Cash invested: $16,772 (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 56051

• Home prices YoY: 0.9%
• Active inventory: 8
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $914 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$128 /mo · $1,542/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $254

Break-even live

Break-even rent $592

Max offer price $59,900

Occupancy floor 67%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-12
   statusdays on market $59,900 Pending 7 DOM
2. 2026-06-09
   days on market $59,900 Active 5 DOM
3. 2026-06-08
   days on market $59,900 Active 4 DOM
4. 2026-06-07
   days on market $59,900 Active 3 DOM
5. 2026-06-07
   remarks 204-char remark
6. 2026-06-07
   listed $59,900 Active 2 DOM

ⓘ 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: $1,542 · $128/mo
• Projected year-2 tax: $1,542 · $128/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 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: $10,966
• − Mortgage interest: −$3,355
• − Property taxes: −$1,542
• − Insurance: −$300
• − Repairs & maintenance: −$877
• − Management: −$877
• − Depreciation: −$1,743
• Taxable income: $2,272
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $2,507/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: United South Central School District
• NCES district ID: 2700005
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $46,722
• Composite: 42.03/100
• National rank: #3330
• State rank: #130 of 301 in MN

Livability — Kiester

• Score: 62/100
• State rank: #710
• US rank: #17133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kiester, MN
• City population: 648
• Population (ZIP): 648

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 29% Serbian 6% Scottish 5%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.13%
• Current HPI: 231.8589
• 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

+299.3% since first listed

2 events — show timeline

• 2026-06-04 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 1994-08-17 Sold (Public Records) $15,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,542 · +8.7% YoY. Source: county tax records.