517 Locust Ave · Marshall, MN 56258

$65,000

3 bd · 3.0 ba · 1,568 sqft · SingleFamily · 292 Days on market

Built 1995 1,742 sqft lot $41/sqft · 77% below area ↓ 19% 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
• Livability +4.1/5.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1995 Schult manufactured home is sure to catch your eye with its meticulously maintained interior and exterior, plus the perk of having everything on the main floor. This home is not able to remain on its current lot therefore, the buyer will need to move it to a new location. The home features three bedrooms and two bathrooms. There is a primary bedroom/bathroom with a walk-in closet. Both bathrooms have recently been tastefully remodeled. You get plenty of entertaining space with a living room AND family room space. A one-stall garage is included with this sale as well as a storage shed. Call today for your private showing!

Key facts

• 1,742 sq ft lot
• Garage
• Built 1995

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.2% vs local median 4.2% in Marshall — 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 (#47 in MN, #1,265 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, commute F.
• Marshall Public School District (town): math 46% / reading 48% proficiency, ranked #163 of 301 in MN (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Park Side Elementary (404 students, 65% FRL); Marshall Middle School (math 48% / reading 49%, grade C-, #87 of 258 statewide, top 34%, 732 students, 58% FRL); Marshall High School (math 52% / reading 58%, grade C, #83 of 471 statewide, top 18%, 876 students, 44% FRL) — zoned schools average 56% FRL vs 32% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 213 active listings in the ZIP; 91 units permitted in Lyon County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lyon County population projected at -12% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 292 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 292 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 2.21% ✓
• Cap rate: 20.19%
• Cash-on-cash: 49.62%
• DSCR: 3.21
• GRM: 3.8

CMA / ARV

• ARV (median comp): $277,882
• List price: $65,000
• Delta: -76.61%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 47.3%
• Equity multiple: 3.05×
• Total profit: $37,385
• Equity at exit: $9,692

10-year hold

• IRR: 52.9%
• Equity multiple: 6.18×
• Total profit: $94,203
• Equity at exit: $5,620

Cash invested: $18,200 (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 56258

• Home prices YoY: -33.1%
• Active inventory: 213
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,438 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$15 /mo · $184/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $753

Break-even live

Break-even rent $485

Max offer price $65,000

Occupancy floor 43%

Sensitivity live

Price	-10% $789	-5% $771	+0% $753	+5% $734	+10% $716
Rent	-10% $639	-5% $696	+0% $753	+5% $809	+10% $866
Rate	-1.0pp $785	-0.5pp $769	base $753	+0.5pp $736	+1.0pp $719

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-09
   statusdays on market $65,000 Pending 292 DOM
2. 2026-06-08
   days on market $65,000 Active 291 DOM
3. 2026-06-07
   days on market $65,000 Active 290 DOM
4. 2026-06-07
   days on market $65,000 Active 289 DOM
5. 2026-06-04
   days on market $65,000 Active 286 DOM
6. 2026-06-02
   days on market $65,000 Active 285 DOM
7. 2026-06-01
   days on market $65,000 Active 284 DOM
8. 2026-05-31
   days on market $65,000 Active 283 DOM
9. 2026-05-31
   days on market $65,000 Active 282 DOM
10. 2025-12-30
    price $65,000 638-char remark

    Show marketing remark (638 chars)

    This 1995 Schult manufactured home is sure to catch your eye with its meticulously maintained interior and exterior, plus the perk of having everything on the main floor. This home is not able to remain on its current lot therefore, the buyer will need to move it to a new location. The home features three bedrooms and two bathrooms. There is a primary bedroom/bathroom with a walk-in closet. Both bathrooms have recently been tastefully remodeled. You get plenty of entertaining space with a living room AND family room space. A one-stall garage is included with this sale as well as a storage shed. Call today for your private showing!

11. 2025-08-20
    listed $80,000 Active 638-char remark

    Show marketing remark (638 chars)

    This 1995 Schult manufactured home is sure to catch your eye with its meticulously maintained interior and exterior, plus the perk of having everything on the main floor. This home is not able to remain on its current lot therefore, the buyer will need to move it to a new location. The home features three bedrooms and two bathrooms. There is a primary bedroom/bathroom with a walk-in closet. Both bathrooms have recently been tastefully remodeled. You get plenty of entertaining space with a living room AND family room space. A one-stall garage is included with this sale as well as a storage shed. Call today for your private showing!

ⓘ 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: $184 · $15/mo
• Projected year-2 tax: $456 · $38/mo
• Expected delta: +$272/yr (+$23/mo · 147.8%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,255
• − Mortgage interest: −$3,641
• − Property taxes: −$184
• − Insurance: −$325
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$1,891
• Taxable income: $8,453
• Est. tax owed @ 24.0%: −$2,029
• After-tax cash flow: $7,003/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: Marshall Public School District
• NCES district ID: 2718940
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 48% ▼ -11.00%
• Median HH income: $47,798
• Composite: 40.09/100
• National rank: #3807
• State rank: #163 of 301 in MN

Livability — Marshall

• Score: 82/100
• State rank: #47
• US rank: #1265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshall, MN
• County: Lyon County · 15,888 people
• City population: 15,888
• Metro: Marshall, MN
• Population (ZIP): 15,888
• Household income: $72,731
• Rent vs Own: 34.2% rent · 65.8% own
• Severe rent burden: 483.0

Population outlook (Lyon County) Hauer SSP2

• Today (2025): 25,369 people
• By 2030: 24,890 · -1.9%
• By 2040: 23,599 · -7.0%
• By 2050: 22,383 · -11.8%
• By 2075: 20,076 · -20.9%
• By 2100: 18,901 · -25.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 7% Asian 6% Black 4% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 14% English 6% Lithuanian 6%
• Foreign-born: 8% · Canada, Philippines
• Languages at home: 88% English-only · Spanish 6% Other Asian/Pacific 4% Other Indo-European 1%

Political lean MEDSL · Lyon

• 2024 margin: Solid R (+31.8) · D 33.1% · R 64.9% · Other 2.0%
• 2008→2024 swing: -30.2pp toward R · 2008: -1.6pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+25.9 2016: R+28.3 2012: R+9.2 2008: R+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.90%
• Current HPI: 177.471
• Rent YoY: —
• Metro: Marshall, 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

-18.8% since first listed

2 events — show timeline

• 2025-12-30 Price Changed $65,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-20 Listed $80,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.5%/yr

Latest (2025): $184 · +3.4% YoY. Source: county tax records.