112 Bluff St E · Lake Benton, MN 56149

$29,900

3 bd · 2.0 ba · 2,000 sqft · Other · 181 Days on market

Built 1960 10,628 sqft lot ↓ 12% since listing

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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 +6.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in one of the most sought-after spots in Lake Benton, this promising fixer upper offers stunning surroundings with the lake embracing the area, perfect for attracting renters or savvy buyers. A bit of tender loving care will reveal its true potential. Act fast to claim this rare opportunity and transform it into a profitable gem right in the vibrant heart of Lake Benton! Selling AS IS

Key facts

• 0.24 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $719 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#389 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime D+, employment D+, amenities F.
• Lake Benton Public School District (rural): math 65% / reading 75% proficiency, ranked #49 of 467 in MN (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 18 active listings in the ZIP; 13 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Lincoln County population projected at -18% 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $10k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.99% ✓
• Cap rate: 35.16%
• Cash-on-cash: 103.10%
• DSCR: 5.59
• GRM: 2.1

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: —
• Equity multiple: 5.90×
• Total profit: $40,997
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 12.32×
• Total profit: $94,806
• Equity at exit: $2,585

Cash invested: $8,372 (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 56149

• Home prices YoY: -15.7%
• Active inventory: 18
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,193 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $719

Break-even live

Break-even rent $282

Max offer price $29,900

Occupancy floor 35%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $29,900 Active 181 DOM
2. 2026-06-17
   days on market $29,900 Active 180 DOM
3. 2026-06-16
   days on market $29,900 Active 179 DOM
4. 2026-06-15
   days on market $29,900 Active 178 DOM
5. 2026-06-13
   days on market $29,900 Active 176 DOM
6. 2026-06-12
   days on market $29,900 Active 175 DOM
7. 2026-06-09
   days on market $29,900 Active 172 DOM
8. 2026-06-08
   days on market $29,900 Active 171 DOM
9. 2026-06-07
   days on market $29,900 Active 170 DOM
10. 2026-06-05
    days on market $29,900 Active 168 DOM
11. 2026-06-04
    days on market $29,900 Active 166 DOM
12. 2026-06-02
    days on market $29,900 Active 165 DOM
13. 2026-06-01
    days on market $29,900 Active 164 DOM
14. 2026-05-31
    days on market $29,900 Active 163 DOM
15. 2026-05-31
    days on market $29,900 Active 162 DOM
16. 2026-05-07
    price $29,900 395-char remark

    Show marketing remark (395 chars)

    Nestled in one of the most sought-after spots in Lake Benton, this promising fixer upper offers stunning surroundings with the lake embracing the area, perfect for attracting renters or savvy buyers. A bit of tender loving care will reveal its true potential. Act fast to claim this rare opportunity and transform it into a profitable gem right in the vibrant heart of Lake Benton! Selling AS IS

17. 2026-04-13
    price $34,900 395-char remark

    Show marketing remark (395 chars)

    Nestled in one of the most sought-after spots in Lake Benton, this promising fixer upper offers stunning surroundings with the lake embracing the area, perfect for attracting renters or savvy buyers. A bit of tender loving care will reveal its true potential. Act fast to claim this rare opportunity and transform it into a profitable gem right in the vibrant heart of Lake Benton! Selling AS IS

18. 2025-12-19
    listed $39,900 Active 395-char remark

    Show marketing remark (395 chars)

    Nestled in one of the most sought-after spots in Lake Benton, this promising fixer upper offers stunning surroundings with the lake embracing the area, perfect for attracting renters or savvy buyers. A bit of tender loving care will reveal its true potential. Act fast to claim this rare opportunity and transform it into a profitable gem right in the vibrant heart of Lake Benton! Selling AS IS

19. 2025-03-14
    listed $50,000 Active
20. 2023-10-17
    price $50,000
21. 2023-10-04
    listed $65,000 Active
22. 2021-07-02
    soldstatus $23,000 Sold
23. 2021-06-24
    status Pending
24. 2021-06-12
    listed $27,000 Active
25. 2020-10-19
    soldstatus $15,000 Sold
26. 2020-09-23
    status Pending
27. 2020-08-28
    price $28,000
28. 2020-05-11
    listed $34,000 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: $646 · $54/mo
• Projected year-2 tax: $646 · $54/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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 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: $14,315
• − Mortgage interest: −$1,675
• − Property taxes: −$646
• − Insurance: −$150
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$870
• Taxable income: $8,684
• Est. tax owed @ 24.0%: −$2,084
• After-tax cash flow: $6,548/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: Lake Benton Public School District
• NCES district ID: 2717460
• Math proficiency: 65% ▼ -5.00%
• Reading proficiency: 75% ▲ 10.00%
• Median HH income: $45,501
• Composite: 60.12/100
• National rank: #1773
• State rank: #49 of 467 in MN

Livability — Lake Benton

• Score: 68/100
• State rank: #389
• US rank: #9234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Benton, MN
• Population (ZIP): 1,205

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 5,433 people
• By 2030: 5,215 · -4.0%
• By 2040: 4,828 · -11.1%
• By 2050: 4,445 · -18.2%
• By 2075: 3,678 · -32.3%
• By 2100: 2,762 · -49.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Iranian 13% Portuguese 10% Scottish 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+37.8) · D 30.1% · R 67.9% · Other 2.0%
• 2008→2024 swing: -38.6pp toward R · 2008: 0.8pp · 2024: -37.8pp
• All cycles: 2024: R+37.8 2020: R+38.0 2016: R+35.6 2012: R+5.3 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.85%
• Current HPI: 170.7115
• 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

-12.1% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-19 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-14 Listed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-17 Price Changed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-04 Listed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-02 Sold (MLS) $23,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-12 Listed $27,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-10-19 Sold (MLS) $15,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2020-08-28 Price Changed $28,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-05-11 Listed $34,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2026): $646 · -65.1% YoY. Source: county tax records.