1016 7th Ave NW · Rochester, MN 55901

$285,000

3 bd · 2.0 ba · 1,978 sqft · SingleFamily public records · 2 Days on market

Built 1947 6,969 sqft lot $144/sqft · 7% below area Est $364k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seventy-five years later and this 1940's Minimal Traditional home is still the perfect choice for today's practical home buyer. This fully finished, three bedroom, two bathroom home has many updates and amenities, including hardwood floors, granite counter-tops, subway tile backsplash, stainless steel appliances, tile floors, second floor with large main bedroom and loft, large sunroom which could be a second family room & dining area, lower level family/rec room with wet bar, and deck with privacy lattice. The current owners have taken pride in ownership, meticulously fine tuning and improving this beautiful home over the last few years. You won't be disappointed. Located near Cascade Creek & bike trail, steps away from public transit, and only one mile from the Mayo Clinic Campus in downtown Rochester. Don't miss out!

Key facts

• 6,969 sq ft lot
• Garage
• Built 1947

Property features AI

Finance

• HOA & community: No association fees; association services none

Exterior

• Parking: Concrete parking; Garage door opener; 1-car garage
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-and-one-half level layout; Facing direction not specified; Above-grade finished living area and main level finished area present
• Construction: Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Vinyl exterior; City street frontage with curbs, paved streets, sidewalks and street lights; Publicly maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Water filtration system; Exhaust fan
• Bedrooms: 3 bedrooms; Includes a main-floor bedroom
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Humidifier; Central air conditioning
• Interior features: Dishwasher; Exhaust fan; Water filtration system; Microwave; Range; Refrigerator; Satellite dish

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (27.9% below list).
• Recommended offer: $206k (27.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.6% in Rochester — 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 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elton Hills Elementary (math 32% / reading 37%, grade F, #655 of 857 statewide, top 78%, 316 students, 61% FRL); John Adams Middle (math 20% / reading 42%, grade F, #191 of 258 statewide, top 74%, 731 students, 42% FRL); John Marshall Senior High (math 37% / reading 58%, grade D, #162 of 471 statewide, top 35%, 1,573 students, 43% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 507 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,605 (27.9% 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. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.72% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 11.6

CMA / ARV

• ARV (median comp): $363,896
• List price: $285,000
• Delta: -21.68%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.18×
• Total profit: $-65,700
• Equity at exit: $42,494

10-year hold

• IRR: -22.1%
• Equity multiple: -0.09×
• Total profit: $-86,992
• Equity at exit: $24,642

Cash invested: $79,800 (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 55901

• Home prices YoY: -33.2%
• Rents YoY: 2.2%
• Active inventory: 507
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,056 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$291 /mo · $3,490/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $-280

Break-even live

Break-even rent $2,410

Max offer price $235,559

Occupancy floor —

Sensitivity live

Price	-10% $-119	-5% $-199	+0% $-280	+5% $-361	+10% $-441
Rent	-10% $-442	-5% $-361	+0% $-280	+5% $-199	+10% $-117
Rate	-1.0pp $-136	-0.5pp $-207	base $-280	+0.5pp $-354	+1.0pp $-429

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1321 3rd Ave NW Rochester, MN	4.0	2.0	2320	$2,295	$0.99	15d	1	0.29mi
970 11th Ave NW Rochester, MN	1.0–3.0	1.0–2.0	952	$1,734	$1.82	15d	6	0.31mi
950 11th Ave NW Rochester, MN	2.0–3.0	2.0	1225	$1,695	$1.38	15d	8	0.34mi
917 N Broadway Ave Rochester, MN	2.0	1.0	2000	$1,400	$0.70	45d	1	0.44mi
619 2nd St NW Unit 2 Rochester, MN	3.0	1.5	1435	$1,575	$1.10	15d	1	0.58mi
809 1st St NW Rochester, MN	3.0	2.0	2030	$2,400	$1.18	15d	1	0.66mi
207 5th Ave SW Rochester, MN	3.0	2.0	1500	$2,100	$1.40	45d	1	0.88mi
1350 2nd St NW Rochester, MN	3.0	2.0	1978	$2,350	$1.19	23d	1	0.92mi
1429 Center St W Rochester, MN	3.0	1.5	1400	$2,800	$2.00	45d	1	0.98mi
449 E Center St Rochester, MN	1.0–3.0	1.0–2.0	1165	$3,795	$3.26	15d	40	1.04mi
217 14th Ave SW Rochester, MN	3.0	1.0–2.0	1389	$4,126	$2.97	15d	35	1.08mi
2607 Tuxedo Ln NW Rochester, MN	3.0	2.5	1714	$2,350	$1.37	15d	1	1.21mi
705 1st Ave SW Rochester, MN	3.0	1.0–2.5	1135	$3,875	$3.41	15d	91	1.32mi
801 6th Ave SW Rochester, MN	3.0	2.5	2160	$2,500	$1.16	23d	1	1.33mi
814 7th Ave SW Unit back Rochester, MN	3.0	1.0	1400	$3,000	$2.14	45d	1	1.36mi
607 7th Ave SE Rochester, MN	2.0	2.0	2614	$2,300	$0.88	45d	1	1.49mi

Listing history 20 events

1. 2026-05-10
   status Pending 727-char remark
2. 2026-05-08
   listed $285,000 Active 727-char remark
3. 2026-05-07
   historical $285,000 727-char remark
4. 2021-09-16
   soldstatus $245,000
5. 2021-09-02
   soldstatus $245,000 Sold 839-char remark

   Show marketing remark (839 chars)

   Seventy-five years later and this 1940's Minimal Traditional home is still the perfect choice for today's practical home buyer. This fully finished, three bedroom, two bathroom home has many updates and amenities, including hardwood floors, granite counter-tops, subway tile backsplash, stainless steel appliances, tile floors, second floor with large main bedroom and loft, large sunroom which could be a second family room & dining area, lower level family/rec room with wet bar, and deck with privacy lattice. The current owners have taken pride in ownership, meticulously fine tuning and improving this beautiful home over the last few years. You won't be disappointed. Located near Cascade Creek & bike trail, steps away from public transit, and only one mile from the Mayo Clinic Campus in downtown Rochester. Don't miss out!

6. 2021-07-22
   status Pending 839-char remark

   Show marketing remark (839 chars)

   Seventy-five years later and this 1940's Minimal Traditional home is still the perfect choice for today's practical home buyer. This fully finished, three bedroom, two bathroom home has many updates and amenities, including hardwood floors, granite counter-tops, subway tile backsplash, stainless steel appliances, tile floors, second floor with large main bedroom and loft, large sunroom which could be a second family room & dining area, lower level family/rec room with wet bar, and deck with privacy lattice. The current owners have taken pride in ownership, meticulously fine tuning and improving this beautiful home over the last few years. You won't be disappointed. Located near Cascade Creek & bike trail, steps away from public transit, and only one mile from the Mayo Clinic Campus in downtown Rochester. Don't miss out!

7. 2021-07-21
   listed $235,000 Active 839-char remark

   Show marketing remark (839 chars)

   Seventy-five years later and this 1940's Minimal Traditional home is still the perfect choice for today's practical home buyer. This fully finished, three bedroom, two bathroom home has many updates and amenities, including hardwood floors, granite counter-tops, subway tile backsplash, stainless steel appliances, tile floors, second floor with large main bedroom and loft, large sunroom which could be a second family room & dining area, lower level family/rec room with wet bar, and deck with privacy lattice. The current owners have taken pride in ownership, meticulously fine tuning and improving this beautiful home over the last few years. You won't be disappointed. Located near Cascade Creek & bike trail, steps away from public transit, and only one mile from the Mayo Clinic Campus in downtown Rochester. Don't miss out!

8. 2021-07-19
   historical $235,000 839-char remark

   Show marketing remark (839 chars)

   Seventy-five years later and this 1940's Minimal Traditional home is still the perfect choice for today's practical home buyer. This fully finished, three bedroom, two bathroom home has many updates and amenities, including hardwood floors, granite counter-tops, subway tile backsplash, stainless steel appliances, tile floors, second floor with large main bedroom and loft, large sunroom which could be a second family room & dining area, lower level family/rec room with wet bar, and deck with privacy lattice. The current owners have taken pride in ownership, meticulously fine tuning and improving this beautiful home over the last few years. You won't be disappointed. Located near Cascade Creek & bike trail, steps away from public transit, and only one mile from the Mayo Clinic Campus in downtown Rochester. Don't miss out!

9. 2018-12-04
   soldstatus $185,000 Sold

   Show marketing remark (412 chars)

   Here is a wonderful 3 bedroom, 2 bath home with all newer vinyl windows, 2008 roof, hardwood floors, totally remodeled designer kitchen, fantastic main level family room & formal living room, huge lower rec room with ceramic floors and built in entertainment bar and bath. The backyard is fenced in, 7 blocks to Mayo, 10 blocks to St. Mary's, on city bus line, 1 blk from the Cascade Trail & Cooke Park.

10. 2018-11-27
    soldstatus $185,000
11. 2018-11-12
    status Pending

    Show marketing remark (412 chars)

    Here is a wonderful 3 bedroom, 2 bath home with all newer vinyl windows, 2008 roof, hardwood floors, totally remodeled designer kitchen, fantastic main level family room & formal living room, huge lower rec room with ceramic floors and built in entertainment bar and bath. The backyard is fenced in, 7 blocks to Mayo, 10 blocks to St. Mary's, on city bus line, 1 blk from the Cascade Trail & Cooke Park.

12. 2018-11-06
    price $179,900

    Show marketing remark (412 chars)

    Here is a wonderful 3 bedroom, 2 bath home with all newer vinyl windows, 2008 roof, hardwood floors, totally remodeled designer kitchen, fantastic main level family room & formal living room, huge lower rec room with ceramic floors and built in entertainment bar and bath. The backyard is fenced in, 7 blocks to Mayo, 10 blocks to St. Mary's, on city bus line, 1 blk from the Cascade Trail & Cooke Park.

13. 2018-10-25
    listed $189,900 Active

    Show marketing remark (412 chars)

    Here is a wonderful 3 bedroom, 2 bath home with all newer vinyl windows, 2008 roof, hardwood floors, totally remodeled designer kitchen, fantastic main level family room & formal living room, huge lower rec room with ceramic floors and built in entertainment bar and bath. The backyard is fenced in, 7 blocks to Mayo, 10 blocks to St. Mary's, on city bus line, 1 blk from the Cascade Trail & Cooke Park.

14. 2004-10-19
    soldstatus $132,000
15. 2004-09-30
    soldstatus $132,000
16. 2004-09-29
    soldstatus $132,000
17. 2004-09-09
    historical
18. 2004-04-21
    listed $134,900
19. 1989-02-01
    soldstatus $61,000
20. 1982-12-01
    soldstatus $59,000

ⓘ 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: $3,490 · $291/mo
• Projected year-2 tax: $3,490 · $291/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 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: $24,673
• − Mortgage interest: −$15,964
• − Property taxes: −$3,490
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,974
• − Management: −$1,974
• − Depreciation: −$8,291
• Taxable loss: −$8,445
• Est. tax savings @ 24.0%: +$2,027
• After-tax cash flow: $-1,332/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 58,495
• Household income: $94,607
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1651.0

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 (71%)
• Race & ethnicity: White 71% Black 12% Asian 8% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Romanian 3% Iranian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 3% Other Asian/Pacific 3% Arabic 2%

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: ▼ -126.08%
• Current HPI: 253.7999
• Rent YoY: ▲ 2.18%
• Metro: Rochester, 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

+417.8% since first listed

21 events — show timeline

• 2026-06-12 Sold (MLS) $305,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-10 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Coming Soon $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-16 Sold (Public Records) $245,000 Public Records
• 2021-09-02 Sold (MLS) $245,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-21 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-19 Coming Soon $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-04 Sold (MLS) $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-11-27 Sold (Public Records) $185,000 Public Records
• 2018-11-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2018-11-06 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-10-25 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-19 Sold (Public Records) $132,000 Public Records
• 2004-09-30 Sold (MLS) $132,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-29 Sold (Public Records) $132,000 Public Records
• 2004-09-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-04-21 Listed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 1989-02-01 Sold (Public Records) $61,000 Public Records
• 1982-12-01 Sold (Public Records) $59,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $3,490 · +0.8% YoY. Source: county tax records.