2 Bed 2 Bath Single Section Plan · Stewartville, MN 55976

$35,900

2 bd · 2.0 ba · 896 sqft · Manufactured · 178 Days on market

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Clubhouse
• Tree-lined streets
• Wooded setting

Tags

• WOODED SETTING
• MODERN AMENITIES
• GREEN SPACES
• LUSH LANDSCAPING
• TREE-LINED STREETS
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $36k.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.5% vs local median 2.6% in Stewartville — 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 85/100 on livability (#18 in MN, #527 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F.
• Stewartville Public School District (town): math 46% / reading 52% proficiency, ranked #120 of 301 in MN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 67 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $248 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Recommended offer $31,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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. 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: 4.17% ✓
• Cap rate: 37.53%
• Cash-on-cash: 111.57%
• DSCR: 5.96
• GRM: 2.0

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: —
• Equity multiple: 6.35×
• Total profit: $53,730
• Equity at exit: $5,353

10-year hold

• IRR: —
• Equity multiple: 13.29×
• Total profit: $123,526
• Equity at exit: $3,104

Cash invested: $10,052 (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 55976

• Home prices YoY: -27.8%
• Active inventory: 67
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,497 medium
• Mortgage (P&I): −$188
• Tax est. 1.5%: −$45 /mo · $538/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $935

Break-even live

Break-even rent $314

Max offer price $35,900

Occupancy floor 33%

Sensitivity live

Price	-10% $959	-5% $947	+0% $935	+5% $922	+10% $910
Rent	-10% $816	-5% $875	+0% $935	+5% $994	+10% $1,053
Rate	-1.0pp $953	-0.5pp $944	base $935	+0.5pp $925	+1.0pp $916

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: $8,975
• Closing costs: $1,077
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Lark Ln NW Unit 200 Stewartville, MN	3.0	2.0	1056	$1,449	$1.37	22d	1	0.34mi
1821 Daniel Ln NE Stewartville, MN	2.0	1.5	1080	$1,550	$1.44	44d	1	0.36mi

Listing history 2 events

1. 2026-06-19
   days on market $35,900 Active 178 DOM
2. 2026-06-18
   listed $35,900 Active 177 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,965
• − Mortgage interest: −$2,011
• − Property taxes: −$538
• − Insurance: −$180
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$1,044
• Taxable income: $11,317
• Est. tax owed @ 24.0%: −$2,716
• After-tax cash flow: $8,499/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: Stewartville Public School District
• NCES district ID: 2738160
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $58,649
• Composite: 42.76/100
• National rank: #3156
• State rank: #120 of 301 in MN

Livability — Stewartville

• Score: 85/100
• State rank: #18
• US rank: #527

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stewartville, MN
• City population: 8,542
• Population (ZIP): 8,542

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 20% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.02%
• Current HPI: 267.7547
• 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