803 E 3rd Street St · Blue Earth, MN 56013

$55,000

2 bd · 1.0 ba · 768 sqft · Other public records · 8 Days on market

Built 1905 4,792 sqft lot

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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 +15.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Why rent when you can own? This nicely maintained 2-3 bedroom features spacious kitchen and living room, bedroom, full bath, and laundry on the main floor. The upper level features a large bedroom, plus a landing area for additional living space.

Key facts

• 4,792 sq ft lot
• Built 1905
• Listed 8 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Metal siding; Full unfinished basement with sump pump
• Exterior features: Asphalt roof; Shed(s)

Interior

• Kitchen: Cooktop; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas heating with forced air
• Interior features: Cooktop, Range, Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $23 ($271/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($574 rent vs $55k).

Location & tenants

• Location reads 73/100 on livability (#259 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Blue Earth Area Public School (town): math 29% / reading 44% proficiency, ranked #245 of 301 in MN (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $6k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y 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 $19k; list at $55k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1905 — 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. 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: 1.04% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 8.0

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: 25.6%
• Equity multiple: 3.04×
• Total profit: $31,431
• Equity at exit: $49,548

10-year hold

• IRR: 22.5%
• Equity multiple: 6.94×
• Total profit: $91,509
• Equity at exit: $106,853

Cash invested: $15,400 (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 56013

• Home prices YoY: 6.7%
• Active inventory: 36
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $574 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$120 /mo · $1,434/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$121
• Net cashflow: $23

Break-even live

Break-even rent $545

Max offer price $55,000

Occupancy floor 91%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 E 5th St Unit 1 Blue Earth, MN	1.0	1.0	550	$550	$1.00	43d	1	0.16mi
528 N Grant St Blue Earth, MN	1.0	1.0	575	$724	$1.26	43d	1	1.02mi

Listing history 7 events

1. 2026-06-12
   statusdays on market $55,000 Pending 8 DOM
2. 2026-06-09
   days on market $55,000 Active 7 DOM
3. 2026-06-08
   days on market $55,000 Active 6 DOM
4. 2026-06-07
   days on market $55,000 Active 5 DOM
5. 2026-06-05
   days on market $55,000 Active 3 DOM
6. 2026-06-02
   remarks 288-char remark
7. 2026-06-02
   listed $55,000 Active 1 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: $1,434 · $120/mo
• Projected year-2 tax: $1,434 · $120/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 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: $6,887
• − Mortgage interest: −$3,081
• − Property taxes: −$1,434
• − Insurance: −$275
• − Repairs & maintenance: −$551
• − Management: −$551
• − Depreciation: −$1,600
• Taxable loss: −$605
• Est. tax savings @ 24.0%: +$145
• After-tax cash flow: $416/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: Blue Earth Area Public School
• NCES district ID: 2700130
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $44,434
• Composite: 31.0/100
• National rank: #6095
• State rank: #245 of 301 in MN

Livability — Blue Earth

• Score: 73/100
• State rank: #259
• US rank: #5617

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Earth, MN
• Population (ZIP): 4,534

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 23% Scottish 5% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 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: ▲ 15.36%
• Current HPI: 244.2912
• 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

+130.1% since first listed

3 events — show timeline

• 2026-06-02 Listed $55,000 RASM
• 2010-10-01 Sold (MLS) $18,750 NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-03 Listed $23,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+13.6%/yr

Latest (2025): $1,434 · +3.0% YoY. Source: county tax records.