209 Guyer St · Taconite, MN 55709

$119,000

2 bd · 1.5 ba · 764 sqft · Other public records · 30 Days on market

Built 1930

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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 +20.9/30.0
• Appreciation +9.4/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

CHARMING 2 BD W/ FOUNDATION TO ADD ON A very motivated seller with some updates finished. New kitchen cabinets and back splash, new trim, paint and more. Bathroom remodel, fresh paint in bedrooms and bathroom. Dream garage 2 car wide and deep. Shed for your yard machines and tools. 3 lots to run in. Appraisal done September 2022 came in at $125,000.

Key facts

• Dream garage
• 3 lots
• Bathroom remodel

Tags

• NEW KITCHEN CABINETS
• BATHROOM REMODEL
• DREAM GARAGE
• SHED FOR YARD MACHINES
• 3 LOTS

Property features AI

Exterior

• Parking: 4-car garage

Interior

• Bathrooms: 1 full bath; 1 quarter bath
• Interior features: One full bathroom; One quarter bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#685 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D, schools F.
• Greenway Public School District (rural): math 40% / reading 47% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($823 loan paydown + $11k appreciation (8.9% local appreciation)).
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k 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 ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.01% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.99×
• Total profit: $66,218
• Equity at exit: $97,477

10-year hold

• IRR: 23.4%
• Equity multiple: 6.55×
• Total profit: $184,917
• Equity at exit: $200,654

Cash invested: $33,320 (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 55709

• Home prices YoY: 3.4%
• Active inventory: 28
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $166

Break-even live

Break-even rent $997

Max offer price $119,000

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $119,000 Active 30 DOM
2. 2026-06-17
   days on market $119,000 Active 29 DOM
3. 2026-06-16
   days on market $119,000 Active 28 DOM
4. 2026-06-15
   days on market $119,000 Active 27 DOM
5. 2026-06-13
   days on market $119,000 Active 25 DOM
6. 2026-06-12
   days on market $119,000 Active 24 DOM
7. 2026-06-09
   days on market $119,000 Active 21 DOM
8. 2026-06-08
   days on market $119,000 Active 20 DOM
9. 2026-06-07
   days on market $119,000 Active 19 DOM
10. 2026-06-07
    days on market $119,000 Active 18 DOM
11. 2026-06-04
    days on market $119,000 Active 15 DOM
12. 2026-06-02
    days on market $119,000 Active 14 DOM
13. 2026-06-01
    days on market $119,000 Active 13 DOM
14. 2026-05-31
    days on market $119,000 Active 12 DOM
15. 2026-05-31
    days on market $119,000 Active 11 DOM
16. 2026-05-16
    listed $119,000 Active 351-char remark

    Show marketing remark (351 chars)

    CHARMING 2 BD W/ FOUNDATION TO ADD ON A very motivated seller with some updates finished. New kitchen cabinets and back splash, new trim, paint and more. Bathroom remodel, fresh paint in bedrooms and bathroom. Dream garage 2 car wide and deep. Shed for your yard machines and tools. 3 lots to run in. Appraisal done September 2022 came in at $125,000.

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,368 · $114/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 D · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,481
• − Mortgage interest: −$6,666
• − Property taxes: −$1,368
• − Insurance: −$595
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$3,462
• Taxable income: $73
• Est. tax owed @ 24.0%: −$18
• 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: Greenway Public School District
• NCES district ID: 2709480
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $46,178
• Composite: 37.01/100
• National rank: #4520
• State rank: #196 of 301 in MN

Livability — Taconite

• Score: 62/100
• State rank: #685
• US rank: #16565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taconite, MN
• City population: 118
• Population (ZIP): 4,314

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5%
• Common ancestry: Portuguese 14% Lithuanian 4% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.86%
• Current HPI: 270.88
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-18 Listed $119,000 Fizber.com
• 2026-05-16 Listed $119,000 FSBO.com

Property tax history

+9.3%/yr

Latest (2026): $1,368 · +13.8% YoY. Source: county tax records.