30 3rd Ave W · Echo, MN 56237

$140,000

4 bd · 2.0 ba · 1,100 sqft · SingleFamily public records · 30 Days on market

Built 1966 5,227 sqft lot

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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 +12.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• DSCR +3.6/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Are you looking for a one level home you can make your own? This convenient rambler right in town Echo has an attached garage, large kitchen, huge living room, 2 bathrooms, hardwood floors, new siding, some updated windows, and 4 bedrooms! This home has so much potential and just needs some TLC! The basement bedrooms are ready to go with egress windows, just need flooring and ceiling as well as the large family room space in the basement. The possibilities are endless! Call today to view this property!!

Key facts

• Updated appliances
• New flooring
• Updated countertops

Tags

• UPDATED COUNTERTOPS
• UPDATED APPLIANCES
• LARGE UTILITY LAUNDRY AREA
• UTILITY SINK
• WALK IN SHOWER
• NEW FLOORING

Property features AI

Exterior

• Parking: Attached concrete garage (1-car, approximately 24 x 14)
• Utilities: City water connected; City sewer connected; 200+ amp electric service with circuit breakers; Fuel: Electric and natural gas
• Home design: Residential single-level (one level with lower/finished basement); Main floor primary bedroom
• Construction: Block foundation; Asphalt roof (8 years old or newer)
• Exterior features: Vinyl exterior; City-maintained streets with curbs and sidewalks; Lot dimensions approximately 70 x 85

Interior

• Kitchen: Kitchen window; Range; Dishwasher; Refrigerator
• Bedrooms: 4 bedrooms (main and lower levels)
• Bathrooms: One full bath on the main level; One 3/4 bath in the basement
• Heating & cooling: Forced air and baseboard heating; Window cooling units
• Interior features: Partially finished basement with daylight/lookout and egress windows; Eat-in kitchen; Electric water heater
• Laundry & utility: Washer and dryer included; Laundry in basement with utility sink; Utility room in lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-30 ($-364/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (23.6% below list).
• Recommended offer: $107k (23.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#542 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools C-, employment D+, crime D-.
• Yellow Medicine East (town): math 31% / reading 47% proficiency, ranked #227 of 301 in MN (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 7 units permitted in Yellow Medicine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($968 loan paydown + $6k appreciation (4.1% local appreciation)).
• Yellow Medicine County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $62k; list at $140k implies a 126% gain — meaningful room to come down on a strong offer.

Recommended offer $106,943 (23.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.12% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.60×
• Total profit: $23,366
• Equity at exit: $71,964

10-year hold

• IRR: 11.6%
• Equity multiple: 2.94×
• Total profit: $75,881
• Equity at exit: $118,493

Cash invested: $39,200 (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 56237

• Home prices YoY: 3.8%
• Active inventory: 2
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-30

Break-even live

Break-even rent $1,108

Max offer price $134,643

Occupancy floor 98%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $140,000 Active 30 DOM
2. 2026-06-17
   days on market $140,000 Active 29 DOM
3. 2026-06-16
   days on market $140,000 Active 28 DOM
4. 2026-06-15
   days on market $140,000 Active 27 DOM
5. 2026-06-13
   days on market $140,000 Active 25 DOM
6. 2026-06-12
   days on market $140,000 Active 24 DOM
7. 2026-06-09
   days on market $140,000 Active 21 DOM
8. 2026-06-08
   days on market $140,000 Active 20 DOM
9. 2026-06-07
   days on market $140,000 Active 19 DOM
10. 2026-06-05
    pricedays on market $140,000 Active 17 DOM
11. 2026-06-04
    days on market $145,000 Active 15 DOM
12. 2026-06-02
    days on market $145,000 Active 14 DOM
13. 2026-06-01
    days on market $145,000 Active 13 DOM
14. 2026-05-31
    days on market $145,000 Active 12 DOM
15. 2026-05-19
    listed $145,000 Active
16. 2023-04-07
    soldstatus $62,000
17. 2023-04-07
    soldstatus $62,000
18. 2023-04-06
    soldstatus $62,000 Sold 512-char remark

    Show marketing remark (512 chars)

    Are you looking for a one level home you can make your own? This convenient rambler right in town Echo has an attached garage, large kitchen, huge living room, 2 bathrooms, hardwood floors, new siding, some updated windows, and 4 bedrooms! This home has so much potential and just needs some TLC! The basement bedrooms are ready to go with egress windows, just need flooring and ceiling as well as the large family room space in the basement. The possibilities are endless! Call today to view this property!!

19. 2023-03-16
    status Pending 512-char remark

    Show marketing remark (512 chars)

    Are you looking for a one level home you can make your own? This convenient rambler right in town Echo has an attached garage, large kitchen, huge living room, 2 bathrooms, hardwood floors, new siding, some updated windows, and 4 bedrooms! This home has so much potential and just needs some TLC! The basement bedrooms are ready to go with egress windows, just need flooring and ceiling as well as the large family room space in the basement. The possibilities are endless! Call today to view this property!!

20. 2023-01-24
    listed $69,000 Active 512-char remark

    Show marketing remark (512 chars)

    Are you looking for a one level home you can make your own? This convenient rambler right in town Echo has an attached garage, large kitchen, huge living room, 2 bathrooms, hardwood floors, new siding, some updated windows, and 4 bedrooms! This home has so much potential and just needs some TLC! The basement bedrooms are ready to go with egress windows, just need flooring and ceiling as well as the large family room space in the basement. The possibilities are endless! Call today to view this property!!

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $1,280 · $107/mo
• Expected delta: +$288/yr (+$24/mo · 29.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 14 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: $12,833
• − Mortgage interest: −$7,842
• − Property taxes: −$992
• − Insurance: −$700
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$4,073
• Taxable loss: −$2,827
• Est. tax savings @ 24.0%: +$678
• After-tax cash flow: $315/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: Yellow Medicine East
• NCES district ID: 2700099
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 47% ▼ -7.00%
• Median HH income: $51,457
• Composite: 33.74/100
• National rank: #5369
• State rank: #227 of 301 in MN

Livability — Echo

• Score: 65/100
• State rank: #542
• US rank: #13081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Echo, MN
• Population (ZIP): 535

Population outlook (Yellow Medicine County) Hauer SSP2

• Today (2025): 8,959 people
• By 2030: 8,451 · -5.7%
• By 2040: 7,514 · -16.1%
• By 2050: 6,650 · -25.8%
• By 2075: 5,306 · -40.8%
• By 2100: 4,453 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Native American 2%
• Common ancestry: Portuguese 27% English 9% Iranian 5%
• Foreign-born: 1% · South Korea

Political lean MEDSL · Yellow Medicine

• 2024 margin: Solid R (+40.6) · D 28.7% · R 69.3% · Other 1.9%
• 2008→2024 swing: -44.9pp toward R · 2008: 4.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+37.0 2016: R+35.4 2012: R+6.3 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.12%
• Current HPI: 113.2738
• 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

+110.1% since first listed

6 events — show timeline

• 2026-05-19 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-07 Sold (Public Records) $62,000 Public Records
• 2023-04-07 Sold (Public Records) $62,000 Public Records
• 2023-04-06 Sold (MLS) $62,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-24 Listed $69,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $992 · +16.2% YoY. Source: county tax records.