323 4th St SE · Staples, MN 56479

$104,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 29 Days on market

Built 1900 9,278 sqft lot

---

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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this two bed, one bath property beautifully located in the heart of staples. This property is an investor's dream. A little bit of sweat equity will go a long way with this home. Property features an oversized corner lot, hardwood floors in the living room, and main level living. Schedule your showing today!

Key facts

• 9,278 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached or attached 1-car garage (16 x 22)
• Utilities: City water connected; City sewer connected; Electric and natural gas available
• Home design: Residential property; One level; All living facilities on one level
• Construction: Frame construction; Asphalt roof (over 8 years old); Poured concrete foundation; Crawl space basement (has basement)
• Exterior features: Wood exterior; Porch; Lot approximately 0.213 acres (75 x 124)

Interior

• Kitchen: Range; Refrigerator; Kitchen located on main level
• Bedrooms: 2 bedrooms (both on main level); Bedroom sizes include 10x11 and 8x11
• Flooring: Hardwood floors
• Bathrooms: One three-quarter bath; Main floor full bath
• Heating & cooling: Forced air heating; Window unit(s) for cooling
• Interior features: Ceiling fan(s); Hardwood floors; Kitchen window; Primary bedroom walk-in closet; Porch
• Laundry & utility: Washer and dryer located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#539 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools D, amenities F.
• Staples-Motley School District (rural): math 37% / reading 39% proficiency, ranked #238 of 301 in MN (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 167 units permitted in Todd County in 2024 (78 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Todd County population projected at -28% 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $89k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,326 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 D-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: 1.19% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.94%
• DSCR: 1.62
• GRM: 7.0

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $4,709
• Equity at exit: $15,641

10-year hold

• IRR: 13.6%
• Equity multiple: 2.09×
• Total profit: $31,969
• Equity at exit: $9,070

Cash invested: $29,372 (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 56479

• Home prices YoY: -6.1%
• Active inventory: 50
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$52 /mo · $630/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $341

Break-even live

Break-even rent $818

Max offer price $104,900

Occupancy floor 68%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $104,900 Active 29 DOM
2. 2026-06-17
   days on market $104,900 Active 28 DOM
3. 2026-06-16
   days on market $104,900 Active 27 DOM
4. 2026-06-15
   days on market $104,900 Active 26 DOM
5. 2026-06-13
   days on market $104,900 Active 24 DOM
6. 2026-06-12
   days on market $104,900 Active 23 DOM
7. 2026-06-09
   days on market $104,900 Active 20 DOM
8. 2026-06-09
   price $104,900 Active 19 DOM
9. 2026-06-08
   days on market $109,900 Active 19 DOM
10. 2026-06-07
    days on market $109,900 Active 18 DOM
11. 2026-06-07
    days on market $109,900 Active 17 DOM
12. 2026-06-04
    days on market $109,900 Active 14 DOM
13. 2026-06-02
    days on market $109,900 Active 13 DOM
14. 2026-06-01
    days on market $109,900 Active 12 DOM
15. 2026-05-31
    days on market $109,900 Active 11 DOM
16. 2026-05-31
    days on market $109,900 Active 10 DOM
17. 2026-05-15
    historical $109,900 1183-char remark
18. 2023-08-14
    soldstatus $89,000
19. 2023-08-11
    soldstatus $89,000 Sold 320-char remark

    Show marketing remark (320 chars)

    Don't miss this two bed, one bath property beautifully located in the heart of staples. This property is an investor's dream. A little bit of sweat equity will go a long way with this home. Property features an oversized corner lot, hardwood floors in the living room, and main level living. Schedule your showing today!

20. 2023-06-15
    status Pending 320-char remark

    Show marketing remark (320 chars)

    Don't miss this two bed, one bath property beautifully located in the heart of staples. This property is an investor's dream. A little bit of sweat equity will go a long way with this home. Property features an oversized corner lot, hardwood floors in the living room, and main level living. Schedule your showing today!

21. 2023-05-26
    listed $89,000 Active 320-char remark

    Show marketing remark (320 chars)

    Don't miss this two bed, one bath property beautifully located in the heart of staples. This property is an investor's dream. A little bit of sweat equity will go a long way with this home. Property features an oversized corner lot, hardwood floors in the living room, and main level living. Schedule your showing today!

22. 2023-05-23
    historical $89,000 320-char remark

    Show marketing remark (320 chars)

    Don't miss this two bed, one bath property beautifully located in the heart of staples. This property is an investor's dream. A little bit of sweat equity will go a long way with this home. Property features an oversized corner lot, hardwood floors in the living room, and main level living. Schedule your showing today!

23. 2017-03-10
    soldstatus $37,000 Sold

    Show marketing remark (398 chars)

    Enjoy main floor living in well maintained home with cobblestone drive leading insulated garage and screened porch. This well kept home is nestled among mature trees on corner lot with southern exposure. Features include oak hardwood floors; newer roof and windows; 3-season porch off of kitchen; insulated garage with attached storage sheds; and private patio. Home is vacant and ready to move in!

24. 2017-02-28
    status Pending

    Show marketing remark (398 chars)

    Enjoy main floor living in well maintained home with cobblestone drive leading insulated garage and screened porch. This well kept home is nestled among mature trees on corner lot with southern exposure. Features include oak hardwood floors; newer roof and windows; 3-season porch off of kitchen; insulated garage with attached storage sheds; and private patio. Home is vacant and ready to move in!

25. 2016-08-31
    listed $40,000 Active

    Show marketing remark (398 chars)

    Enjoy main floor living in well maintained home with cobblestone drive leading insulated garage and screened porch. This well kept home is nestled among mature trees on corner lot with southern exposure. Features include oak hardwood floors; newer roof and windows; 3-season porch off of kitchen; insulated garage with attached storage sheds; and private patio. Home is vacant and ready to move in!

26. 2016-08-04
    historical
27. 2016-06-07
    price $48,900
28. 2016-01-20
    price $49,900
29. 2015-10-05
    price $52,500
30. 2015-09-01
    price $53,900
31. 2015-08-14
    price $54,900
32. 2015-08-04
    listed $56,500 Active
33. 2015-08-01
    historical
34. 2015-06-27
    status Active
35. 2015-06-26
    historical
36. 2015-03-09
    price $56,500
37. 2015-03-09
    price $56,500
38. 2014-09-09
    price $57,500
39. 2014-09-09
    price $57,500
40. 2014-06-24
    listed $59,900 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: $630 · $52/mo
• Projected year-2 tax: $902 · $75/mo
• Expected delta: +$272/yr (+$23/mo · 43.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,001
• − Mortgage interest: −$5,876
• − Property taxes: −$630
• − Insurance: −$524
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,052
• Taxable income: $2,519
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $3,491/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: Staples-Motley School District
• NCES district ID: 2733900
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $41,979
• Composite: 32.07/100
• National rank: #5816
• State rank: #238 of 301 in MN

Livability — Staples

• Score: 65/100
• State rank: #539
• US rank: #12983

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Staples, MN
• Population (ZIP): 5,018

Population outlook (Todd County) Hauer SSP2

• Today (2025): 22,202 people
• By 2030: 20,962 · -5.6%
• By 2040: 18,352 · -17.3%
• By 2050: 15,904 · -28.4%
• By 2075: 11,348 · -48.9%
• By 2100: 7,801 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Portuguese 16% Romanian 4% Lithuanian 3%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Todd

• 2024 margin: Solid R (+53.5) · D 22.5% · R 76.0% · Other 1.5%
• 2008→2024 swing: -42.4pp toward R · 2008: -11.1pp · 2024: -53.5pp
• All cycles: 2024: R+53.5 2020: R+48.8 2016: R+47.7 2012: R+16.1 2008: R+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.71%
• Current HPI: 194.5854
• 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

+75.1% since first listed

26 events — show timeline

• 2026-06-08 Price Changed $104,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Coming Soon $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-08-14 Sold (Public Records) $89,000 Public Records
• 2023-08-11 Sold (MLS) $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-26 Listed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-23 Coming Soon $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-03-10 Sold (MLS) $37,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-02-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-31 Listed $40,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-08-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-06-07 Price Changed $48,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-01-20 Price Changed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-05 Price Changed $52,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-09-01 Price Changed $53,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-14 Price Changed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-04 Listed $56,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-08-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-27 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-09 Price Changed $56,500 NORTHSTARMLS as Distributed by MLS Grid
• 2015-03-09 Price Changed $56,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-09 Price Changed $57,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-09 Price Changed $57,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-24 Listed $59,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2026): $630 · -2.5% YoY. Source: county tax records.