225 E 5th St · Red Wing, MN 55066

$209,900

3 bd · 1.0 ba · 1,328 sqft · SingleFamily public records · 15 Days on market

Built 1880 4,356 sqft lot $158/sqft · 10% above area Est $246k · 15% under

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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).

• Cash flow +14.5/30.0
• ARV discount +14.0/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated home offering a perfect blend of charm and modern updates. Features include a new everything! brand-new kitchen with breakfast bar, a newly added bathroom, and new front and back porches ideal for relaxing or entertaining. Enjoy comfort year-round with a new furnace and A/C, all new kitchen appliances, not forgetting some new windows plus cozy up by the fireplace in the living area flooring and laundry. Move-in ready with stylish finishes throughout—this is a must-see property. home offers a prime location nestled between the scenic beauty of Barn Bluff and the vibrant charm of downtown. Just a short walk east leads to trailheads for He Mni Can/Barn Bluff, perfect for

Key facts

• New furnace
• New kitchen
• Newly added bathroom

Tags

• NEW KITCHEN
• NEWLY ADDED BATHROOM
• NEW FRONT AND BACK PORCHES
• NEW FURNACE
• NEW A/C
• NEW KITCHEN APPLIANCES

Property features AI

Exterior

• Parking: 2-car garage (36 x 24 x 12)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-and-one-half story; Facing direction not specified; Entry level details not specified
• Construction: Frame construction; Asphalt roof; Stone foundation; Foundation area approximately 384
• Exterior features: Wood exterior; City street frontage; Lot approximately 0.1 acre (131 x 47)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (1 on main level, 2 on upper level)
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Hot water heating; No central air
• Interior features: Main floor bedroom; Main floor laundry; Unfinished basement
• Laundry & utility: Laundry room in basement; Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $48 ($576/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (18.1% below list).
• Recommended offer: $172k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.6% in Red Wing — 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 81/100 on livability (#64 in MN, #1,570 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D.
• Red Wing Public School District (rural): math 36% / reading 44% proficiency, ranked #220 of 301 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 86 units permitted in Goodhue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Goodhue County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $80k; list at $210k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,843 (18.1% below list)

Questions for the listing agent

1. Built in 1880 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (median comp): $245,617
• List price: $209,900
• Delta: -10.47%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-31,015
• Equity at exit: $31,297

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-23,315
• Equity at exit: $18,148

Cash invested: $58,772 (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 55066

• Home prices YoY: -28.1%
• Active inventory: 143
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,718 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$121 /mo · $1,456/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $48

Break-even live

Break-even rent $1,658

Max offer price $209,900

Occupancy floor 92%

Sensitivity live

Price	-10% $167	-5% $107	+0% $48	+5% $-11	+10% $-71
Rent	-10% $-88	-5% $-20	+0% $48	+5% $116	+10% $184
Rate	-1.0pp $154	-0.5pp $101	base $48	+0.5pp $-6	+1.0pp $-62

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 Bush St Unit 111 Red Wing, MN	2.0	1.0	998	$1,895	$1.90	44d	1	0.38mi
222 Bush St Unit 12 Red Wing, MN	2.0	1.0	1007	$1,900	$1.89	44d	1	0.38mi
222 Bush St Unit 115 Red Wing, MN	2.0	1.0	948	$1,800	$1.90	44d	1	0.38mi
821 W 5th St Apt 5 Red Wing, MN	2.0	1.0	950	$1,300	$1.37	0d	1	0.66mi
821 W 5th St Unit 2 Red Wing, MN	2.0	1.0	950	$1,150	$1.21	13d	1	0.66mi

Listing history 27 events

1. 2026-06-18
   days on market $209,900 Active 15 DOM
2. 2026-06-17
   days on market $209,900 Active 14 DOM
3. 2026-06-16
   days on market $209,900 Active 13 DOM
4. 2026-06-15
   days on market $209,900 Active 12 DOM
5. 2026-06-13
   days on market $209,900 Active 10 DOM
6. 2026-06-09
   days on market $209,900 Active 6 DOM
7. 2026-06-08
   days on market $209,900 Active 5 DOM
8. 2026-06-07
   days on market $209,900 Active 4 DOM
9. 2026-06-03
   pricedays on marketlisting id $209,900 Active 1 DOM
10. 2026-05-31
    days on market $219,900 Active 101 DOM
11. 2026-04-22
    price $219,900 1078-char remark
12. 2026-02-21
    price $227,900 1078-char remark
13. 2026-02-19
    listed $229,900 Active 1078-char remark
14. 2026-02-16
    historical
15. 2025-11-19
    price $229,900
16. 2025-10-30
    price $239,900
17. 2025-10-16
    listed $244,400 Active
18. 2025-08-28
    status Active
19. 2025-08-28
    historical
20. 2025-08-23
    historical
21. 2025-08-22
    historical
22. 2025-08-16
    historical
23. 2025-03-05
    soldstatus $80,000
24. 2025-02-28
    soldstatus $80,000 Sold
25. 2024-12-20
    status Pending
26. 2024-12-10
    listed $80,000 Active
27. 1994-05-01
    soldstatus $33,000

ⓘ 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: $1,456 · $121/mo
• Projected year-2 tax: $1,903 · $159/mo
• Expected delta: +$447/yr (+$37/mo · 30.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 48% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $20,621
• − Mortgage interest: −$11,758
• − Property taxes: −$1,456
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$6,106
• Taxable loss: −$3,048
• Est. tax savings @ 24.0%: +$731
• After-tax cash flow: $1,308/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: Red Wing Public School District
• NCES district ID: 2730480
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $53,206
• Composite: 34.77/100
• National rank: #5122
• State rank: #220 of 301 in MN

Livability — Red Wing

• Score: 81/100
• State rank: #64
• US rank: #1570

Category grades

Amenities D Commute C+ 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: Red Wing, MN
• County: Goodhue County · 19,226 people
• City population: 19,226
• Metro: Red Wing, MN
• Population (ZIP): 19,226
• Household income: $73,584
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 504.0

Population outlook (Goodhue County) Hauer SSP2

• Today (2025): 46,532 people
• By 2030: 46,185 · -0.7%
• By 2040: 44,531 · -4.3%
• By 2050: 41,532 · -10.7%
• By 2075: 33,745 · -27.5%
• By 2100: 23,716 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 14% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Goodhue

• 2024 margin: R (+16.4) · D 40.8% · R 57.3% · Other 1.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -1.4pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+14.8 2016: R+18.0 2012: R+3.0 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.16%
• Current HPI: 247.9899
• Rent YoY: —
• Metro: Red Wing, 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

+536.1% since first listed

19 events — show timeline

• 2026-06-03 Listed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-22 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-21 Price Changed $227,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-19 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-19 Price Changed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-16 Listed $244,400 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-28 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-23 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-16 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-05 Sold (Public Records) $80,000 Public Records
• 2025-02-28 Sold (MLS) $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-10 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 1994-05-01 Sold (Public Records) $33,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,456 · -80.5% YoY. Source: county tax records.