1743 Reichert Ave · Red Wing, MN 55066

$223,000

3 bd · 1.0 ba · 1,694 sqft · SingleFamily public records · 38 Days on market

Built 1970 10,454 sqft lot $132/sqft · 9% below area Est $246k · 9% under

---

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).

• ARV discount +11.8/15.0
• Cash flow +10.8/30.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

Key facts

• Quiet street
• Large yard
• Mature trees

Tags

• LARGE YARD
• MATURE TREES
• QUIET STREET

Property features AI

Exterior

• Parking: Attached 2-car garage (approx. 20x24)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential split-entry (bi-level) home; Block foundation
• Construction: Block foundation
• Exterior features: Vinyl exterior

Interior

• Kitchen: Large kitchen (24x8)
• Bedrooms: 3 bedrooms (two on main level; one in lower level)
• Bathrooms: One full bathroom on main floor; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Natural woodwork; One fireplace
• Laundry & utility: Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $223k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (17.9% below list).
• Recommended offer: $183k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.5% in Red Wing — 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 81/100 on livability (#64 in MN, #1,570 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D.
• Red Wing Public School District (rural): math 36% / reading 44% proficiency, ranked #220 of 301 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Burnside Elementary (math 47% / reading 50%, grade D, #480 of 857 statewide, top 56%, 522 students, 42% FRL); Twin Bluff School (math 40% / reading 40%, grade F, #147 of 258 statewide, top 57%, 534 students, 37% FRL); Red Wing Senior High (math 31% / reading 44%, grade F, #280 of 471 statewide, top 59%, 866 students, 37% FRL).
• Market conditions: 141 active listings in the ZIP; 86 units permitted in Goodhue County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Goodhue County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $157k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $183,186 (17.9% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• GRM: 10.1

CMA / ARV

• ARV (median comp): $246,320
• List price: $223,000
• Delta: -9.47%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-42,590
• Equity at exit: $33,250

10-year hold

• IRR: -12.2%
• Equity multiple: 0.27×
• Total profit: $-45,307
• Equity at exit: $19,281

Cash invested: $62,440 (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 55066

• Home prices YoY: -28.1%
• Active inventory: 141
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,832 medium
• Mortgage (P&I): −$1,169
• Tax from tax record: −$287 /mo · $3,440/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-102

Break-even live

Break-even rent $1,961

Max offer price $205,008

Occupancy floor —

Sensitivity live

Price	-10% $24	-5% $-39	+0% $-102	+5% $-165	+10% $-228
Rent	-10% $-247	-5% $-174	+0% $-102	+5% $-29	+10% $43
Rate	-1.0pp $10	-0.5pp $-45	base $-102	+0.5pp $-160	+1.0pp $-218

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $223,000 Active 38 DOM
2. 2026-06-18
   days on market $223,000 Active 35 DOM
3. 2026-06-17
   days on market $223,000 Active 34 DOM
4. 2026-06-16
   days on market $223,000 Active 33 DOM
5. 2026-06-16
   price $223,000 Active 32 DOM
6. 2026-06-15
   days on market $237,000 Active 32 DOM
7. 2026-06-13
   days on market $237,000 Active 30 DOM
8. 2026-06-09
   days on market $237,000 Active 26 DOM
9. 2026-06-08
   days on market $237,000 Active 25 DOM
10. 2026-06-07
    days on market $237,000 Active 24 DOM
11. 2026-06-04
    days on market $237,000 Active 21 DOM
12. 2026-06-03
    days on market $237,000 Active 20 DOM
13. 2026-06-02
    days on market $237,000 Active 19 DOM
14. 2026-06-01
    days on market $237,000 Active 18 DOM
15. 2026-05-31
    days on market $237,000 Active 17 DOM
16. 2026-05-14
    listed $237,000 Active 190-char remark
17. 2016-05-27
    soldstatus $157,000
18. 2016-05-23
    soldstatus $157,000 Sold 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

19. 2016-05-11
    status Pending 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

20. 2016-03-30
    historical Contingent - Inspection 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

21. 2015-10-26
    status Active 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

22. 2015-10-02
    historical 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

23. 2015-10-02
    listed $160,000 103-char remark

    Show marketing remark (103 chars)

    Must see. Three Bedroom Family home on a quiet street. Walking distance from School. Amazing back yard.

24. 2002-06-18
    soldstatus $150,000
25. 2002-06-14
    soldstatus $150,000

    Show marketing remark (163 chars)

    Many recent updates - new windows, central air, water heater, floors, oak railing etc. Wonderful location for young children! Walk to elementary or middle schools

26. 2002-05-15
    historical

    Show marketing remark (163 chars)

    Many recent updates - new windows, central air, water heater, floors, oak railing etc. Wonderful location for young children! Walk to elementary or middle schools

27. 2002-03-19
    listed $149,850

    Show marketing remark (163 chars)

    Many recent updates - new windows, central air, water heater, floors, oak railing etc. Wonderful location for young children! Walk to elementary or middle schools

28. 2001-11-16
    historical
29. 2001-06-25
    listed $164,900

ⓘ 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: $3,440 · $287/mo
• Projected year-2 tax: $3,440 · $287/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 1/10 Low
• 🌡 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: $21,982
• − Mortgage interest: −$12,491
• − Property taxes: −$3,440
• − Insurance: −$1,115
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$6,487
• Taxable loss: −$5,069
• Est. tax savings @ 24.0%: +$1,216
• After-tax cash flow: $-6/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: Red Wing Public School District
• NCES district ID: 2730480
• Math proficiency: 36% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $53,206
• Composite: 34.77/100
• National rank: #5122
• State rank: #220 of 301 in MN

Livability — Red Wing

• Score: 81/100
• State rank: #64
• US rank: #1570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Wing, MN
• County: Goodhue County · 19,226 people
• City population: 19,226
• Metro: Red Wing, MN
• Population (ZIP): 19,226
• Household income: $73,584
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 504.0

Population outlook (Goodhue County) Hauer SSP2

• Today (2025): 46,532 people
• By 2030: 46,185 · -0.7%
• By 2040: 44,531 · -4.3%
• By 2050: 41,532 · -10.7%
• By 2075: 33,745 · -27.5%
• By 2100: 23,716 · -49.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 14% Romanian 3% Scottish 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Goodhue

• 2024 margin: R (+16.4) · D 40.8% · R 57.3% · Other 1.9%
• 2008→2024 swing: -15.1pp toward R · 2008: -1.4pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+14.8 2016: R+18.0 2012: R+3.0 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.16%
• Current HPI: 247.9899
• Rent YoY: —
• Metro: Red Wing, MN
• 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

+35.2% since first listed

15 events — show timeline

• 2026-06-15 Price Changed $223,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $237,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-27 Sold (Public Records) $157,000 Public Records
• 2016-05-23 Sold (MLS) $157,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2016-03-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-26 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-02 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-10-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-06-18 Sold (Public Records) $150,000 Public Records
• 2002-06-14 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2002-05-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2002-03-19 Listed $149,850 NORTHSTARMLS as Distributed by MLS Grid
• 2001-11-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2001-06-25 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $3,440 · +16.4% YoY. Source: county tax records.