719 N Spring St · New Ulm, MN 56073

$99,900

2 bd · 1.0 ba · 1,598 sqft · SingleFamily public records · 2 Days on market

Built 1948 0.35 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this solid home offering a functional layout and endless potential. The home features 3 bedrooms, full bathroom, spacious living areas, and a large patio perfect for entertaining or relaxing outdoors. A generous 2-stall, attached garage provides plenty of storage and workspace. Furnace (2020), water heater (2025), all windows replaced within the last 10-11 years. Whether you’re looking to build sweat equity, start your rental portfolio, or take on your next flip project, this property is packed with possibilities at an affordable price point. Bring your vision and make it your own! Property is being sold AS IS.

Key facts

• Water heater 2025
• Attached garage
• Large patio

Tags

• FUNCTIONAL LAYOUT
• LARGE PATIO
• ATTACHED GARAGE
• FURNACE 2020
• WATER HEATER 2025
• ALL WINDOWS REPLACED

Property features AI

Exterior

• Parking: Attached garage with automatic garage door opener; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Stucco construction
• Exterior features: Asphalt roof

Interior

• Kitchen: Cooktop; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Wood-burning fireplace; Cooktop and range; Gas water heater
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 14.6% vs local median 4.1% in New Ulm — 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 82/100 on livability (#39 in MN, #1,102 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• New Ulm Public School District (town): math 51% / reading 51% proficiency, ranked #104 of 301 in MN (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 41 units permitted in Brown County in 2024 (18 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Brown County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1948 — 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 B-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?
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: 1.80% ✓
• Cap rate: 14.61%
• Cash-on-cash: 29.69%
• DSCR: 2.32
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $209,338
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
719 N Spring St	0.00mi	3/1.0 (+1)	1,598 (0%)	1mo	$96,000	$60	94
1011 N 6th St	0.60mi	2/1.5	1,564 (-2%)	13mo	$245,000	$157	56
1020 N Minnesota St	0.29mi	3/1.5 (+1)	1,813 (+14%)	3mo	$215,000	$119	55
304 N Washington St	0.51mi	3/1.5 (+1)	1,505 (-6%)	6mo	$227,000	$151	54
1006 State Street North St	0.37mi	3/2.0 (+1)	1,785 (+12%)	1mo	$220,000	$123	54
1526 N State St	0.74mi	2/1.0	1,500 (-6%)	6mo	$105,000	$70	50
327 N Washington St	0.50mi	3/2.0 (+1)	1,701 (+6%)	16mo	$90,000	$53	44
122 N Washington St	0.60mi	3/2.0 (+1)	1,694 (+6%)	12mo	$240,000	$142	42
815 N 6th St	0.45mi	3/2.0 (+1)	1,796 (+12%)	10mo	$208,000	$116	41
414 N Payne St	0.67mi	3/1.5 (+1)	1,752 (+10%)	6mo	$284,900	$163	41
806 N Payne St	0.62mi	2/2.0	1,382 (-14%)	7mo	$181,000	$131	39
622 N Garden St	0.70mi	3/1.0 (+1)	1,382 (-14%)	11mo	$240,000	$174	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 24.2%
• Equity multiple: 2.00×
• Total profit: $27,947
• Equity at exit: $14,895

10-year hold

• IRR: 32.1%
• Equity multiple: 3.91×
• Total profit: $81,310
• Equity at exit: $8,638

Cash invested: $27,972 (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 56073

• Active inventory: 85
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$164 /mo · $1,972/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $692

Break-even live

Break-even rent $924

Max offer price $99,900

Occupancy floor 57%

Sensitivity live

Price	-10% $749	-5% $720	+0% $692	+5% $664	+10% $636
Rent	-10% $550	-5% $621	+0% $692	+5% $763	+10% $834
Rate	-1.0pp $742	-0.5pp $718	base $692	+0.5pp $666	+1.0pp $640

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Center St New Ulm, MN	3.0	2.0	1606	$1,800	$1.12	44d	1	0.78mi

Listing history 2 events

1. 2026-05-14
   status Pending
2. 2026-05-11
   listed $99,900 Active

ⓘ 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: $1,972 · $164/mo
• Projected year-2 tax: $1,972 · $164/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $21,600
• − Mortgage interest: −$5,596
• − Property taxes: −$1,972
• − Insurance: −$500
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$2,906
• Taxable income: $7,170
• Est. tax owed @ 24.0%: −$1,721
• After-tax cash flow: $6,585/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: New Ulm Public School District
• NCES district ID: 2723490
• Math proficiency: 51% ▼ -3.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $53,171
• Composite: 43.93/100
• National rank: #2906
• State rank: #104 of 301 in MN

Livability — New Ulm

• Score: 82/100
• State rank: #39
• US rank: #1102

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Ulm, MN
• City population: 17,325
• Population (ZIP): 17,325

Population outlook (Brown County) Hauer SSP2

• Today (2025): 24,403 people
• By 2030: 23,790 · -2.5%
• By 2040: 22,309 · -8.6%
• By 2050: 20,948 · -14.2%
• By 2075: 19,038 · -22.0%
• By 2100: 16,658 · -31.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Portuguese 9% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+35.2) · D 31.5% · R 66.7% · Other 1.8%
• 2008→2024 swing: -23.1pp toward R · 2008: -12.1pp · 2024: -35.2pp
• All cycles: 2024: R+35.2 2020: R+32.8 2016: R+36.2 2012: R+16.6 2008: R+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -166.22%
• Current HPI: 192.7295
• 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

2 events — show timeline

• 2026-05-14 Pending — RASM
• 2026-05-11 Listed $99,900 RASM

Property tax history

+3.5%/yr

Latest (2025): $1,972 · +7.3% YoY. Source: county tax records.