517 12th St NW · Willmar, MN 56201

$93,898

2 bd · 1.0 ba · 647 sqft · SingleFamily public records · 2 Days on market

Built 1890 7,840 sqft lot $145/sqft · 21% above area Est $112k · 16% under

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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 +19.6/30.0
• ARV discount +14.8/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and cozy 2 bedroom, 1 full bathroom home that’s truly move in ready! This nicely updated property is ideally situated across the street from a park, offering easy access to outdoor recreation. Inside, you’ll find newer flooring throughout the main level, clad windows, and fresh paint that creates a bright and inviting feel. Additional updates include a new roof on the garage for added peace of mind. Enjoy year round comfort with forced air heating and central air conditioning. A wonderful opportunity to own a well-maintained home and to be able to call it your own instead of renting. A must see!

Key facts

• 7,840 sq ft lot
• Garage
• Built 1890

Property features AI

Exterior

• Parking: Attached garage (1 stalled); Garage roughly 20 x 12
• Utilities: City water (connected); City sewer (connected); Natural gas; 100 amp electric service with circuit breakers
• Home design: Residential property; One level; Main level finished area present
• Construction: Block foundation
• Exterior features: Stucco exterior; Lot approximately 0.18 acres (53 x 150)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bath (main floor)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partially finished basement with egress window(s); Dining room; Living room; Utility room
• Laundry & utility: Washer; Dryer; Laundry located in basement; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $94k).
• Cap rate 7.7% vs local median 3.2% in Willmar — 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 73/100 on livability (#233 in MN, #4,984 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Willmar Public School District (town): math 34% / reading 38% proficiency, ranked #246 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 161 active listings in the ZIP; 8 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; 196 units permitted in Kandiyohi County in 2024 (118 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,898

Questions for the listing agent

1. Built in 1890 — 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. 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?
4. 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?
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: 1.02% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $112,111
• List price: $93,898
• Delta: -16.25%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-8,285
• Equity at exit: $14,000

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $1,749
• Equity at exit: $8,119

Cash invested: $26,291 (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 56201

• Active inventory: 161
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $959 high
• Mortgage (P&I): −$492
• Tax est. 1.5%: −$117 /mo · $1,408/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $109

Break-even live

Break-even rent $821

Max offer price $93,898

Occupancy floor 84%

Sensitivity live

Price	-10% $173	-5% $141	+0% $109	+5% $76	+10% $44
Rent	-10% $33	-5% $71	+0% $109	+5% $146	+10% $184
Rate	-1.0pp $156	-0.5pp $132	base $109	+0.5pp $84	+1.0pp $59

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: $23,474
• Closing costs: $2,817
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 12th St NW Unit 2 Willmar, MN	2.0	1.0	620	$950	$1.53	44d	1	0.12mi
718 Litchfield Ave SW Unit A4 Willmar, MN	1.0	1.0	420	$735	$1.75	44d	1	0.51mi
515 Benson Ave SW Unit 7 Willmar, MN	1.0	1.0	350	$750	$2.14	44d	1	0.61mi
103 3rd St SW Willmar, MN	1.0	1.0	683	$1,120	$1.64	44d	3	0.76mi
410 30th St NW Willmar, MN	1.0–2.0	1.0	725	$960	$1.32	44d	1	1.07mi
2601 15th Ave NW Willmar, MN	1.0–3.0	1.0–2.0	723	$1,060	$1.47	44d	8	1.27mi
1001 30th St NW Willmar, MN	1.0–2.0	1.0	796	$1,395	$1.75	44d	1	1.28mi
1116 2nd St SE Unit 3 Willmar, MN	1.0	1.0	700	$949	$1.36	44d	1	1.37mi

Listing history 5 events

1. 2026-05-08
   status Pending 623-char remark
2. 2026-05-06
   listed $93,898 Active 623-char remark
3. 2026-04-30
   historical $93,898 623-char remark
4. 2022-01-18
   soldstatus $67,000
5. 2009-05-19
   soldstatus $45,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 14 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: $11,506
• − Mortgage interest: −$5,260
• − Property taxes: −$1,408
• − Insurance: −$469
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$2,732
• Taxable loss: −$204
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $1,352/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: Willmar Public School District
• NCES district ID: 2742720
• Math proficiency: 34% ▼ -14.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $46,727
• Composite: 30.85/100
• National rank: #6128
• State rank: #246 of 301 in MN

Livability — Willmar

• Score: 73/100
• State rank: #233
• US rank: #4984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willmar, MN
• City population: 24,860
• Population (ZIP): 24,860

Population outlook (Kandiyohi County) Hauer SSP2

• Today (2025): 42,956 people
• By 2030: 42,825 · -0.3%
• By 2040: 42,343 · -1.4%
• By 2050: 42,124 · -1.9%
• By 2075: 43,726 · +1.8%
• By 2100: 45,974 · +7.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 22% Black 10% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Portuguese 15% Iranian 3% Scottish 2%
• Foreign-born: 15% · Canada, Philippines
• Languages at home: 78% English-only · Spanish 14% Other Asian/Pacific 2%

Political lean MEDSL · Kandiyohi

• 2024 margin: Solid R (+31.0) · D 33.7% · R 64.7% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -5.5pp · 2024: -31.0pp
• All cycles: 2024: R+31.0 2020: R+25.7 2016: R+25.5 2012: R+6.7 2008: R+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.48%
• Current HPI: 161.1663
• 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

+110.0% since first listed

6 events — show timeline

• 2026-06-01 Sold (MLS) $94,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Listed $93,898 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $93,898 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-18 Sold (Public Records) $67,000 Public Records
• 2009-05-19 Sold (Public Records) $45,000 Public Records

Property tax history

-16.1%/yr

Latest (2025): $50 · +0.0% YoY. Source: county tax records.