629 2nd St · Hancock, MN 56244

$110,000

3 bd · 3.0 ba · 1,342 sqft · SingleFamily · 74 Days on market

Built 1920 6,969 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.0/10.0
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

Key facts

• 6,969 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#238 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Hancock Public School District (rural): math 62% / reading 57% proficiency, ranked #44 of 301 in MN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 25 active listings in the ZIP; 5 units permitted in Stevens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Stevens County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $85k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 7.6

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-6,909
• Equity at exit: $16,401

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $8,126
• Equity at exit: $9,511

Cash invested: $30,800 (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 56244

• Home prices YoY: -31.4%
• Active inventory: 25
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $171

Break-even live

Break-even rent $989

Max offer price $110,000

Occupancy floor 81%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-02-02
   status Pending
2. 2025-11-20
   listed $110,000 Active
3. 2021-05-14
   soldstatus $85,000 Sold 296-char remark

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

4. 2021-05-14
   soldstatus $85,000

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

5. 2021-03-31
   status Pending 296-char remark

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

6. 2021-03-19
   historical Contingent - Inspection 296-char remark

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

7. 2021-03-10
   price $82,500 296-char remark

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

8. 2021-02-09
   listed $85,000 Active 296-char remark

   Show marketing remark (296 chars)

   2-3 bedroom house in Hancock located near the school. Has 3 bedrooms and a huge 2 stall garage to fit all your vehicles and toys. Great floor plan with many updates including flooring, electrical panel, water heater and laundry room. Come see this house before it sells in the hot Hancock market!

9. 2015-01-07
   soldstatus $42,000
10. 2012-06-07
    soldstatus $42,000 336-char remark

    Show marketing remark (336 chars)

    Super cute single family home on the heart of Hancock. Nice corner lot, right across the street from the highschool. Steps to down town, very large main floor laundry. Beautiful oak cabinets in kitchen, large entry, new 2 car garage built in 2000. A must see today for your first time buyers, retirees, or for an investment opportunity.

11. 2012-06-07
    soldstatus $42,000

    Show marketing remark (336 chars)

    Super cute single family home on the heart of Hancock. Nice corner lot, right across the street from the highschool. Steps to down town, very large main floor laundry. Beautiful oak cabinets in kitchen, large entry, new 2 car garage built in 2000. A must see today for your first time buyers, retirees, or for an investment opportunity.

12. 2012-03-29
    listed $49,900 336-char remark

    Show marketing remark (336 chars)

    Super cute single family home on the heart of Hancock. Nice corner lot, right across the street from the highschool. Steps to down town, very large main floor laundry. Beautiful oak cabinets in kitchen, large entry, new 2 car garage built in 2000. A must see today for your first time buyers, retirees, or for an investment opportunity.

13. 2012-03-29
    listed $49,900

    Show marketing remark (336 chars)

    Super cute single family home on the heart of Hancock. Nice corner lot, right across the street from the highschool. Steps to down town, very large main floor laundry. Beautiful oak cabinets in kitchen, large entry, new 2 car garage built in 2000. A must see today for your first time buyers, retirees, or for an investment opportunity.

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $1,900 · $158/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,460
• − Mortgage interest: −$6,162
• − Property taxes: −$1,900
• − Insurance: −$550
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,200
• Taxable income: $334
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $1,971/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: Hancock Public School District
• NCES district ID: 2713380
• Math proficiency: 62% ▼ -3.00%
• Reading proficiency: 57% ▼ -8.00%
• Median HH income: $53,650
• Composite: 51.04/100
• National rank: #1771
• State rank: #44 of 301 in MN

Livability — Hancock

• Score: 73/100
• State rank: #238
• US rank: #5097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hancock, MN
• Population (ZIP): 1,739

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 9,907 people
• By 2030: 9,987 · +0.8%
• By 2040: 10,214 · +3.1%
• By 2050: 10,642 · +7.4%
• By 2075: 12,546 · +26.6%
• By 2100: 14,065 · +42.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Portuguese 21% Iranian 3% Italian 3%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Stevens

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.7% · Other 1.6%
• 2008→2024 swing: -28.3pp toward R · 2008: 1.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.1 2016: R+12.8 2012: R+0.4 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.03%
• Current HPI: 135.275
• 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

+120.4% since first listed

13 events — show timeline

• 2026-02-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-20 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-05-14 Sold (Public Records) $85,000 Public Records
• 2021-05-14 Sold (MLS) $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-31 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-03-10 Price Changed $82,500 NORTHSTARMLS as Distributed by MLS Grid
• 2021-02-09 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-01-07 Sold (Public Records) $42,000 Public Records
• 2012-06-07 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-07 Sold (MLS) $42,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-03-29 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-03-29 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2026): $1,900 · -10.0% YoY. Source: county tax records.