924 S Gould St · Redwood Falls, MN 56283

$159,900

2 bd · 2.0 ba · 1,328 sqft · Condo public records · 42 Days on market

Built 1993 $267/mo HOA · 16% of rent

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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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

Key facts

• Lots of storage
• Open concept
• Newer windows

Tags

• NEWER WINDOWS
• STAINLESS STEEL APPLIANCES
• OPEN CONCEPT
• VAULTED CEILINGS
• LOTS OF STORAGE

Property features AI

Finance

• Other: Lot approximately 2.085 acres; City street frontage with curbs, paved streets, street lights and storm sewer; public maintained road
• HOA & community: The Fountains Homeowners Association; HOA fee $800 quarterly; HOA covers lawn care, grounds maintenance, sewer, snow removal, and water

Exterior

• Parking: Attached garage with garage door opener (1 garage space)
• Utilities: City water (connected); City sewer (connected); Natural gas; Electric with circuit breakers
• Home design: Residential property; Attached property; One story
• Construction: Built with block, brick, and frame construction; Asphalt roof; Slab foundation
• Exterior features: Deck; Stone and vinyl exterior

Interior

• Kitchen: Dishwasher; Disposal; Range; Microwave; Refrigerator; Freezer; Stainless steel appliances
• Bedrooms: 2 bedrooms (one on the main floor, one additional bedroom on the main level); Den (upper level)
• Bathrooms: 1 full bathroom on the main floor; 1 half bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Central vacuum; Water softener (owned); Kitchen window; Main floor primary bedroom; Washer/dryer hookup; Informal dining area; flexible living/dining layout
• Laundry & utility: Washer; Dryer; Washer/dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-6 ($-74/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (0.7% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#169 in MN, #3,642 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Redwood Area School District (town): math 39% / reading 46% proficiency, ranked #207 of 301 in MN (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Reede Gray Elementary (math 57% / reading 42%, grade D, #423 of 857 statewide, top 55%, 419 students, 52% FRL); Redwood Valley Middle (math 34% / reading 46%, grade F, #147 of 258 statewide, top 57%, 322 students, 55% FRL); Redwood Valley Senior High (math 27% / reading 52%, grade F, #246 of 471 statewide, top 59%, 371 students, 42% FRL) — zoned schools average 50% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 47 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 25 units permitted in Redwood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Redwood County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 17y 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 $98k; list at $160k implies a 63% gain — meaningful room to come down on a strong offer.

Recommended offer $155,103 (3.0% 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 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 8.0

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-26,142
• Equity at exit: $23,842

10-year hold

• IRR: -8.0%
• Equity multiple: 0.49×
• Total profit: $-22,617
• Equity at exit: $13,825

Cash invested: $44,772 (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 56283

• Home prices YoY: -15.6%
• Active inventory: 47
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,669 high
• Mortgage (P&I): −$839
• Tax from tax record: −$152 /mo · $1,826/yr
• Insurance: −$67
• HOA: −$267
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-6

Break-even live

Break-even rent $1,676

Max offer price $158,816

Occupancy floor 95%

Sensitivity live

Price	-10% $84	-5% $39	+0% $-6	+5% $-51	+10% $-97
Rent	-10% $-138	-5% $-72	+0% $-6	+5% $60	+10% $126
Rate	-1.0pp $74	-0.5pp $35	base $-6	+0.5pp $-48	+1.0pp $-90

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Fallwood Rd Unit 100-ADA Redwood Falls, MN	1.0	1.0	983	$1,050	$1.07	45d	1	0.20mi
100 Fallwood Rd Unit 109 Redwood Falls, MN	2.0	1.0	958	$890	$0.93	45d	1	0.20mi
100 Fallwood Rd Unit 123 Redwood Falls, MN	3.0	1.0	1306	$1,900	$1.45	45d	1	0.20mi
100 Fallwood Rd Unit 122 Redwood Falls, MN	3.0	1.0	919	$1,550	$1.69	45d	1	0.20mi
100 Fallwood Rd Unit 118 Redwood Falls, MN	3.0	1.0	1341	$1,990	$1.48	45d	1	0.21mi
100 Fallwood Rd Unit 119 Redwood Falls, MN	3.0	1.0	1373	$2,300	$1.68	45d	1	0.21mi

HOA detail condo

• Monthly dues: $267 · $3,204/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-07
   statusdays on market $159,900 Pending 42 DOM
2. 2026-06-05
   days on market $159,900 Active 41 DOM
3. 2026-06-04
   days on market $159,900 Active 39 DOM
4. 2026-06-02
   days on market $159,900 Active 38 DOM
5. 2026-06-01
   days on market $159,900 Active 37 DOM
6. 2026-05-31
   days on market $159,900 Active 36 DOM
7. 2026-05-31
   days on market $159,900 Active 35 DOM
8. 2026-04-25
   listed $159,900 Active 399-char remark
9. 2019-02-02
   historical 192-char remark

   Show marketing remark (98 chars)

   Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

10. 2019-02-02
    historical

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

11. 2019-02-02
    historical

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

12. 2014-10-20
    soldstatus $98,000
13. 2014-10-17
    soldstatus $98,000 192-char remark

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

14. 2014-10-17
    soldstatus $98,000

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

15. 2014-10-17
    soldstatus $98,000

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

16. 2014-10-17
    soldstatus $98,000 Sold

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

17. 2014-10-06
    status Pending
18. 2014-09-15
    historical Contingent - Inspection
19. 2014-08-27
    listed $103,800 Active

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

20. 2014-08-27
    listed $103,800 192-char remark

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

21. 2014-08-27
    listed $103,800

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

22. 2014-08-27
    listed $103,800

    Show marketing remark (192 chars)

    Convenient 2 bedroom condo unit complete w/attached garage, 1 1/2 baths, hardwood floors, vaulted ceilings, laundry, loft, sunroom and more! Lots of storage, convenient living! Don't miss out!

23. 2014-04-10
    historical
24. 2014-02-26
    listed $103,800 Active
25. 2013-10-02
    listed $103,800
26. 2010-04-01
    soldstatus $89,900

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

27. 2010-04-01
    soldstatus $89,900

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

28. 2010-04-01
    soldstatus $89,900

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

29. 2009-04-13
    listed $97,500

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

30. 2009-04-13
    listed $97,500

    Show marketing remark (98 chars)

    Upper Condo Unit, 2 bedrooms, oak cabinets, sunroom, electric fireplace, attached garage and more!

ⓘ 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: $1,826 · $152/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $20,023
• − Mortgage interest: −$8,957
• − Property taxes: −$1,826
• − Insurance: −$800
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − HOA: −$3,204
• − Depreciation: −$4,652
• Taxable loss: −$2,619
• Est. tax savings @ 24.0%: +$628
• After-tax cash flow: $555/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: Redwood Area School District
• NCES district ID: 2700182
• Math proficiency: 39% ▼ -14.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $45,326
• Composite: 36.1/100
• National rank: #4756
• State rank: #207 of 301 in MN

Livability — Redwood Falls

• Score: 76/100
• State rank: #169
• US rank: #3642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redwood Falls, MN
• Population (ZIP): 6,469

Population outlook (Redwood County) Hauer SSP2

• Today (2025): 14,504 people
• By 2030: 13,983 · -3.6%
• By 2040: 13,056 · -10.0%
• By 2050: 12,225 · -15.7%
• By 2075: 11,051 · -23.8%
• By 2100: 9,786 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 4% Native American 3%
• Common ancestry: Portuguese 12% Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Redwood

• 2024 margin: Solid R (+43.3) · D 27.7% · R 71.0% · Other 1.2%
• 2008→2024 swing: -29.8pp toward R · 2008: -13.6pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+41.2 2016: R+43.0 2012: R+20.1 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.40%
• Current HPI: 213.8535
• 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

+64.0% since first listed

24 events — show timeline

• 2026-06-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-20 Sold (Public Records) $98,000 Public Records
• 2014-10-17 Sold (MLS) $98,000 LSAR
• 2014-10-17 Sold (MLS) $98,000 RASM
• 2014-10-17 Sold (MLS) $98,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-17 Sold (MLS) $98,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-15 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-27 Listed $103,800 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-27 Listed $103,800 LSAR
• 2014-08-27 Listed $103,800 RASM
• 2014-08-27 Listed $103,800 NORTHSTARMLS as Distributed by MLS Grid
• 2014-04-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-26 Listed $103,800 NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-02 Listed $103,800 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-01 Sold (Public Records) $89,900 Public Records
• 2010-04-01 Sold (MLS) $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-01 Sold (MLS) $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-13 Listed $97,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-04-13 Listed $97,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $1,826 · -4.2% YoY. Source: county tax records.