500 Highland St · West Concord, MN 55985

$129,900

3 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 18 Days on market

Built 1915 7,405 sqft lot

---

Why this score? — see what drove the C- 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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

A West Concord, 3Bedroom 2 Bath, in town home. Home has many newer updated features such as, Siding and roof and windows in the last 10 years plus a new water heater and furnace in the last 2 years. A detached 2 car garage plus a backyard storage shed is also included.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1915

Tags

• NEWER UPDATED FEATURES
• DETACHED 2 CAR GARAGE
• BACKYARD STORAGE SHED

Property features AI

Exterior

• Parking: Detached 2-car garage (24 x 30, approximately 720 sq ft)
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service with circuit breakers
• Home design: Residential property; One-and-one-half story; Entry facing city street
• Construction: Asphalt roof (over 8 years old); Block foundation; Foundation dimensions approximately 22 x 24
• Exterior features: Vinyl siding; Garage(s) and storage shed on property; City street frontage with curbs and paved streets

Interior

• Kitchen: Range; Refrigerator; Freezer; Gas water heater
• Bedrooms: Three bedrooms (two on upper level, one on main level); Upper-level sitting room adjacent to bedrooms
• Bathrooms: One full bathroom (upper level); Half bathroom on main level; Primary half bath
• Heating & cooling: Forced air heating; Baseboard heating; Wall-mounted cooling unit(s)
• Interior features: Eat-in kitchen / kitchen-dining room layout; Daylight/Lookout full basement; Main floor bedroom
• Laundry & utility: Washer hookup in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $62 ($740/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (3.8% below list).
• Recommended offer: $125k (3.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#225 in MN, #4,807 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Triton School District (town): math 32% / reading 37% proficiency, ranked #247 of 301 in MN (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 108 units permitted in Dodge County in 2024 (58 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000 (3.8% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 3.05×
• Total profit: $74,711
• Equity at exit: $117,024

10-year hold

• IRR: 22.6%
• Equity multiple: 6.97×
• Total profit: $216,994
• Equity at exit: $252,367

Cash invested: $36,372 (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 55985

• Home prices YoY: 23.5%
• Active inventory: 12
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$190 /mo · $2,286/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $62

Break-even live

Break-even rent $1,172

Max offer price $129,900

Occupancy floor 90%

Sensitivity live

Price	-10% $135	-5% $98	+0% $62	+5% $25	+10% $-12
Rent	-10% $-37	-5% $12	+0% $62	+5% $111	+10% $160
Rate	-1.0pp $127	-0.5pp $95	base $62	+0.5pp $28	+1.0pp $-6

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 State St Unit 2 West Concord, MN	2.0	1.0	1350	$1,250	$0.93	44d	1	0.26mi

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-04-28
   historical Contingent - Inspection
3. 2026-04-23
   listed $129,900 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: $2,286 · $190/mo
• Projected year-2 tax: $2,286 · $190/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$7,276
• − Property taxes: −$2,286
• − Insurance: −$650
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,779
• Taxable loss: −$1,391
• Est. tax savings @ 24.0%: +$334
• After-tax cash flow: $1,074/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: Triton School District
• NCES district ID: 2740665
• Math proficiency: 32% ▼ -18.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $59,143
• Composite: 30.79/100
• National rank: #6149
• State rank: #247 of 301 in MN

Livability — West Concord

• Score: 74/100
• State rank: #225
• US rank: #4807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Concord, MN
• City population: 1,644
• Population (ZIP): 1,644

Population outlook (Dodge County) Hauer SSP2

• Today (2025): 21,008 people
• By 2030: 21,168 · +0.8%
• By 2040: 21,152 · +0.7%
• By 2050: 20,490 · -2.5%
• By 2075: 17,874 · -14.9%
• By 2100: 13,747 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Portuguese 22% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Dodge

• 2024 margin: Solid R (+32.0) · D 33.0% · R 65.0% · Other 2.0%
• 2008→2024 swing: -22.2pp toward R · 2008: -9.8pp · 2024: -32.0pp
• All cycles: 2024: R+32.0 2020: R+30.4 2016: R+32.4 2012: R+10.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.82%
• Current HPI: 293.3624
• 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

3 events — show timeline

• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.6%/yr

Latest (2025): $2,286 · -2.9% YoY. Source: county tax records.