2118 Kansas Ave · Benson, MN 56215

$85,250

2 bd · 1.0 ba · 814 sqft · SingleFamily · 45 Days on market

Built 1949 10,120 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

Key facts

• 0.23 acre lot
• Garage
• Built 1949

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#189 in MN, #4,068 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Benson Public School District (town): math 37% / reading 41% proficiency, ranked #228 of 301 in MN (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 15 units permitted in Swift County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $590 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Swift County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.
• Current owner paid $47k; list at $85k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,692 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.15%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.8%
• Equity multiple: 1.38×
• Total profit: $9,177
• Equity at exit: $12,711

10-year hold

• IRR: 18.9%
• Equity multiple: 2.57×
• Total profit: $37,581
• Equity at exit: $7,371

Cash invested: $23,870 (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 56215

• Home prices YoY: -18.0%
• Active inventory: 32
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,156 medium
• Mortgage (P&I): −$447
• Tax from tax record: −$70 /mo · $840/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $361

Break-even live

Break-even rent $699

Max offer price $85,250

Occupancy floor 64%

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: $21,312
• Closing costs: $2,558
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1009 13th St N Benson, MN	2.0	1.5	964	$1,090	$1.13	43d	1	0.97mi
1027 13th St N Benson, MN	3.0	1.5	964	$1,240	$1.29	43d	1	0.98mi
1017 13th St N Benson, MN	2.0	1.5	964	$1,140	$1.18	43d	1	0.99mi

Listing history 9 events

1. 2026-05-12
   status Pending 387-char remark

   Show marketing remark (387 chars)

   Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

2. 2026-05-08
   historical Contingent - Inspection 387-char remark

   Show marketing remark (387 chars)

   Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

3. 2026-05-06
   status Active 387-char remark

   Show marketing remark (387 chars)

   Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

4. 2026-05-04
   historical 387-char remark

   Show marketing remark (387 chars)

   Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

5. 2026-03-26
   listed $85,250 Active 387-char remark

   Show marketing remark (387 chars)

   Great home for an investment opportunity! 2 Bed- 1 Bath and loaded with charm. This property has been updated with flooring, windows, furnace and appliances. Back yard offers a large patio and nicely landscaped yard. The storage shed offers an opportunity to keep the extras out of the garage but easy to access. This is and priced to sell. Call today to get your showing scheduled

6. 2019-07-03
   soldstatus $47,000 Sold 230-char remark

   Show marketing remark (230 chars)

   Updated Home or Investment Rental Opportunity! Cozy 2 bedroom 1 bathroom rambler slab home in quite neighborhood. Many recent updates (New Furnace, Siding, Shingles, Deck, Breakers, Windows, Doors & Flooring. Come take a look!

7. 2019-07-03
   soldstatus $47,000

   Show marketing remark (230 chars)

   Updated Home or Investment Rental Opportunity! Cozy 2 bedroom 1 bathroom rambler slab home in quite neighborhood. Many recent updates (New Furnace, Siding, Shingles, Deck, Breakers, Windows, Doors & Flooring. Come take a look!

8. 2019-05-14
   status Pending 230-char remark

   Show marketing remark (230 chars)

   Updated Home or Investment Rental Opportunity! Cozy 2 bedroom 1 bathroom rambler slab home in quite neighborhood. Many recent updates (New Furnace, Siding, Shingles, Deck, Breakers, Windows, Doors & Flooring. Come take a look!

9. 2019-04-16
   listed $49,900 Active 230-char remark

   Show marketing remark (230 chars)

   Updated Home or Investment Rental Opportunity! Cozy 2 bedroom 1 bathroom rambler slab home in quite neighborhood. Many recent updates (New Furnace, Siding, Shingles, Deck, Breakers, Windows, Doors & Flooring. Come take a look!

ⓘ 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: $840 · $70/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$57/yr (+$5/mo · 6.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,878
• − Mortgage interest: −$4,775
• − Property taxes: −$840
• − Insurance: −$426
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$2,480
• Taxable income: $3,136
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $3,580/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: Benson Public School District
• NCES district ID: 2704470
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 41% ▼ -9.00%
• Median HH income: $49,024
• Composite: 33.56/100
• National rank: #5423
• State rank: #228 of 301 in MN

Livability — Benson

• Score: 75/100
• State rank: #189
• US rank: #4068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benson, MN
• Population (ZIP): 4,701

Population outlook (Swift County) Hauer SSP2

• Today (2025): 8,635 people
• By 2030: 8,257 · -4.4%
• By 2040: 7,528 · -12.8%
• By 2050: 6,891 · -20.2%
• By 2075: 5,879 · -31.9%
• By 2100: 5,045 · -41.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 28% Italian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Swift

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -47.9pp toward R · 2008: 13.8pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+29.5 2016: R+25.8 2012: D+9.9 2008: D+13.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.08%
• Current HPI: 214.9157
• 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

+70.8% since first listed

9 events — show timeline

• 2026-05-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Listed $85,250 NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-03 Sold (Public Records) $47,000 Public Records
• 2019-07-03 Sold (MLS) $47,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-05-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-16 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $840 · +7.4% YoY. Source: county tax records.