1804 10th Pl NE · Austin, MN 55912

$80,000

2 bd · 2.0 ba · 806 sqft · Other public records · 22 Days on market

Built 1930 10,062 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
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute one bedroom home in desired neighborhood. Nice city lot, near walking/bike paths. Call for showing today.

Key facts

• 0.23 acre lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.8% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 191 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $12k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $80k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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: 1.54% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.21%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.94×
• Total profit: $21,133
• Equity at exit: $11,928

10-year hold

• IRR: 32.9%
• Equity multiple: 4.73×
• Total profit: $83,542
• Equity at exit: $6,917

Cash invested: $22,400 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 191
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,230 high
• Mortgage (P&I): −$420
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $433

Break-even live

Break-even rent $681

Max offer price $80,000

Occupancy floor 60%

Sensitivity live

Price	-10% $478	-5% $456	+0% $433	+5% $411	+10% $388
Rent	-10% $336	-5% $385	+0% $433	+5% $482	+10% $530
Rate	-1.0pp $473	-0.5pp $454	base $433	+0.5pp $412	+1.0pp $391

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	45d	96	1.37mi
800 8th Ave SE Austin, MN	3.0	1.0	842	$1,600	$1.90	45d	1	1.37mi
202 11th Ave NW Unit 602 Austin, MN	2.0	1.0	1000	$950	$0.95	45d	1	1.37mi
711 1st Dr NW Apt A Austin, MN	2.0	1.0	696	$1,100	$1.58	45d	1	1.42mi
1105 3rd St NW Austin, MN	1.0	1.0	720	$925	$1.28	45d	2	1.50mi

Listing history 15 events

1. 2026-05-13
   status Pending 110-char remark

   Show marketing remark (110 chars)

   Cute one bedroom home in desired neighborhood. Nice city lot, near walking/bike paths. Call for showing today.

2. 2026-04-27
   price $80,000 110-char remark

   Show marketing remark (110 chars)

   Cute one bedroom home in desired neighborhood. Nice city lot, near walking/bike paths. Call for showing today.

3. 2026-04-20
   listed $92,500 Active 110-char remark

   Show marketing remark (110 chars)

   Cute one bedroom home in desired neighborhood. Nice city lot, near walking/bike paths. Call for showing today.

4. 2004-08-09
   soldstatus $32,000 85-char remark

   Show marketing remark (85 chars)

   One & half story home, one bedroom, new carpet & updated bath, large lot.

5. 2004-06-22
   soldstatus $38,000
6. 2004-02-27
   soldstatus $32,000
7. 2004-02-26
   soldstatus $32,000
8. 2004-02-26
   soldstatus $32,000
9. 2004-02-10
   historical
10. 2003-04-07
    listed $34,500

    Show marketing remark (85 chars)

    One & half story home, one bedroom, new carpet & updated bath, large lot.

11. 2003-04-07
    listed $34,500 85-char remark

    Show marketing remark (85 chars)

    One & half story home, one bedroom, new carpet & updated bath, large lot.

12. 2003-04-07
    listed $34,500

    Show marketing remark (85 chars)

    One & half story home, one bedroom, new carpet & updated bath, large lot.

13. 2002-01-17
    historical
14. 2001-07-30
    listed $38,500
15. 2001-07-17
    listed $38,500

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,024 · $85/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥98°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: $14,755
• − Mortgage interest: −$4,481
• − Property taxes: −$1,024
• − Insurance: −$400
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$2,327
• Taxable income: $4,162
• Est. tax owed @ 24.0%: −$999
• After-tax cash flow: $4,199/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+107.8% since first listed

15 events — show timeline

• 2026-05-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Listed $92,500 NORTHSTARMLS as Distributed by MLS Grid
• 2004-08-09 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-06-22 Sold (Public Records) $38,000 Public Records
• 2004-02-27 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-26 Sold (Public Records) $32,000 Public Records
• 2004-02-26 Sold (MLS) $32,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-02-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-07 Listed $34,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-07 Listed $34,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-04-07 Listed $34,500 NORTHSTARMLS as Distributed by MLS Grid
• 2002-01-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-30 Listed $38,500 NORTHSTARMLS as Distributed by MLS Grid
• 2001-07-17 Listed $38,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $1,024 · +7.3% YoY. Source: county tax records.