10 Park St N · Fairfax, MN 55332

$155,000

3 bd · 2.0 ba · 826 sqft · SingleFamily public records · 22 Days on market

Built 1905 0.45 ac lot

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0
• 1% rule +0.2/10.0

Listing remarks

Check out this masterfully updated home in the heart of Fairfax! Featuring stunning granite countertops and new flooring in the kitchen and bathrooms, this home has modern features with a classic two story design. The original hardwood floors throughout the home have been refinished to highlight the beauty of the original construction. The home features a two stall detached garage and a double lot with plenty of room for everyone! It is conveniently located near Casey's gas station, the local grocery store and Sweet Spot Bakery! Call today for a showing!

Key facts

• New flooring
• Double lot
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• NEW FLOORING
• HARDWOOD FLOORS
• TWO STALL DETACHED GARAGE
• DOUBLE LOT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached 2-car garage (approx. 24 x 26)
• Utilities: City water (in street); City sewer (in street); Oil fuel
• Home design: Residential property; Two levels
• Construction: Asphalt roof; Foundation: block, slab, stone; Foundation area listed as 808
• Exterior features: Vinyl exterior; Enclosed porch; Corner lot; Lot dimensions approximately 136 x 145

Interior

• Kitchen: Range; Refrigerator; Freezer
• Bedrooms: 3 bedrooms (includes bedrooms on upper level and main level as listed)
• Bathrooms: 1 full bathroom (upper level); 1 half bathroom (main level)
• Heating & cooling: Boiler heating; Window air conditioning units
• Interior features: Enclosed porch (four-season); Unfinished basement; Exhaust fan
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (34.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (47.7% below list).
• Recommended offer: $81k (47.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#261 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• G.F.W. (rural): math 40% / reading 48% proficiency, ranked #186 of 301 in MN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Renville County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Renville County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $155k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,100 (47.7% 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 1905 — 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. 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?
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: 0.52% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 15.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.50×
• Total profit: $64,986
• Equity at exit: $139,636

10-year hold

• IRR: 17.1%
• Equity multiple: 5.76×
• Total profit: $206,471
• Equity at exit: $301,131

Cash invested: $43,400 (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 55332

• Home prices YoY: 5.2%
• Active inventory: 13
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $811 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $-304

Break-even live

Break-even rent $1,196

Max offer price $101,286

Occupancy floor —

Sensitivity live

Price	-10% $-216	-5% $-260	+0% $-304	+5% $-348	+10% $-392
Rent	-10% $-368	-5% $-336	+0% $-304	+5% $-272	+10% $-240
Rate	-1.0pp $-226	-0.5pp $-265	base $-304	+0.5pp $-344	+1.0pp $-385

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Park St N Fairfax, MN	2.0	1.0	700	$811	$1.16	45d	1	0.07mi

Listing history 17 events

1. 2026-06-21
   pricedays on market $155,000 Active 22 DOM
2. 2026-06-18
   days on market $172,000 Active 20 DOM
3. 2026-06-17
   days on market $172,000 Active 19 DOM
4. 2026-06-16
   days on market $172,000 Active 18 DOM
5. 2026-06-15
   days on market $172,000 Active 17 DOM
6. 2026-06-13
   days on market $172,000 Active 15 DOM
7. 2026-06-12
   days on market $172,000 Active 14 DOM
8. 2026-06-09
   days on market $172,000 Active 11 DOM
9. 2026-06-08
   days on market $172,000 Active 10 DOM
10. 2026-06-07
    days on market $172,000 Active 9 DOM
11. 2026-06-07
    days on market $172,000 Active 8 DOM
12. 2026-06-04
    days on market $172,000 Active 5 DOM
13. 2026-06-02
    days on market $172,000 Active 4 DOM
14. 2026-06-01
    days on market $172,000 Active 3 DOM
15. 2026-05-31
    days on market $172,000 Active 2 DOM
16. 2026-05-29
    listed $172,000 Active
17. 2026-02-06
    soldstatus $57,500

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $1,272 · $106/mo
• Expected delta: +$464/yr (+$39/mo · 57.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $9,732
• − Mortgage interest: −$8,682
• − Property taxes: −$808
• − Insurance: −$775
• − Repairs & maintenance: −$779
• − Management: −$779
• − Depreciation: −$4,509
• Taxable loss: −$6,600
• Est. tax savings @ 24.0%: +$1,584
• After-tax cash flow: $-2,065/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: G.F.W.
• NCES district ID: 2712580
• Math proficiency: 40% ▼ -12.00%
• Reading proficiency: 48% ▼ -13.00%
• Median HH income: $50,233
• Composite: 37.81/100
• National rank: #4335
• State rank: #186 of 301 in MN

Livability — Fairfax

• Score: 73/100
• State rank: #261
• US rank: #5692

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfax, MN
• Population (ZIP): 1,714

Population outlook (Renville County) Hauer SSP2

• Today (2025): 13,251 people
• By 2030: 12,443 · -6.1%
• By 2040: 10,946 · -17.4%
• By 2050: 9,598 · -27.6%
• By 2075: 7,411 · -44.1%
• By 2100: 5,768 · -56.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 17% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 15% Cuban 2%
• Common ancestry: Portuguese 12% Italian 4% Scottish 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 12% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Renville

• 2024 margin: Solid R (+41.4) · D 28.4% · R 69.8% · Other 1.9%
• 2008→2024 swing: -40.8pp toward R · 2008: -0.6pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+36.5 2016: R+36.7 2012: R+9.8 2008: R+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.54%
• Current HPI: 252.2828
• 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

+199.1% since first listed

2 events — show timeline

• 2026-05-29 Listed $172,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-06 Sold (Public Records) $57,500 Public Records

Property tax history

+1.5%/yr

Latest (2026): $808 · +8.6% YoY. Source: county tax records.