606 5th Pl SE · Austin, MN 55912

$154,900

4 bd · 2.0 ba · 1,218 sqft · Other public records · 1 Days on market

Built 1916 6,500 sqft lot

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 4 bedroom 2 bath home.

Key facts

• New bath
• New furnace
• New kitchen

Tags

• NEW KITCHEN
• NEW APPLIANCES
• NEW BATH
• NEWER WINDOWS
• NEW FURNACE
• 4 YEARS OLD ROOF

Property features AI

Exterior

• Parking: Concrete driveway; 2-car garage (approx. 20 x 21)
• Utilities: City water (connected); City sewer (connected); Natural gas; 100 amp electric service with circuit breakers
• Home design: Residential property; Two stories; Pitched asphalt roof (8 years or newer); Entry level includes main floor living area; Frame construction
• Construction: Frame construction; Poured concrete foundation; Asphalt pitched roof (8 years or less)
• Exterior features: Enclosed porch; Medium tree coverage; City street frontage with curbs and paved streets; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator; Stainless steel appliances; ENERGY STAR qualified appliances; Exhaust fan; Gas water heater
• Bedrooms: 4 bedrooms (main and upper levels)
• Flooring: Hardwood floors
• Bathrooms: One full bath on the main floor; One three-quarter bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Three-season porch; Eat-in kitchen; Renovated main floor bedroom; Hardwood floors
• Laundry & utility: Washer hookup on the lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 8.5% vs local median 4.5% in Austin — 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 80/100 on livability (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 188 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,900

Questions for the listing agent

1. Built in 1916 — 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,339
• Equity at exit: $23,096

10-year hold

• IRR: 14.7%
• Equity multiple: 2.44×
• Total profit: $62,507
• Equity at exit: $13,393

Cash invested: $43,372 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 188
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$812
• Tax from tax record: −$94 /mo · $1,130/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $284

Break-even live

Break-even rent $1,229

Max offer price $154,900

Occupancy floor 77%

Sensitivity live

Price	-10% $372	-5% $328	+0% $284	+5% $240	+10% $196
Rent	-10% $158	-5% $221	+0% $284	+5% $347	+10% $409
Rate	-1.0pp $362	-0.5pp $323	base $284	+0.5pp $244	+1.0pp $203

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 8th Ave SE Austin, MN	3.0	1.0	842	$1,600	$1.90	44d	1	0.23mi
1204 1st Ave NE Austin, MN	3.0	2.0	1200	$1,600	$1.33	44d	1	0.45mi
401 2nd Ave SW Unit 102 Austin, MN	3.0	1.0	780	$1,025	$1.31	44d	1	0.80mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,514	$2.56	44d	96	0.98mi
1921 3rd Ave NE Austin, MN	3.0	2.0	1242	$1,600	$1.29	44d	1	1.03mi

Listing history 2 events

1. 2026-06-18
   remarks 425-char remark
2. 2026-06-18
   listed $154,900 Active 1 DOM

ⓘ 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: $1,130 · $94/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$302/yr (+$25/mo · 26.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥98°F today · 16 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: $19,062
• − Mortgage interest: −$8,677
• − Property taxes: −$1,130
• − Insurance: −$774
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$4,506
• Taxable income: $925
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $3,185/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+545.4% since first listed

11 events — show timeline

• 2026-06-16 Listed $154,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-06 Rental Removed $1,395 BUILDIUM
• 2026-02-06 Price Changed $1,395 BUILDIUM
• 2025-12-04 Listed for Rent $1,495 BUILDIUM
• 2024-08-10 Rental Removed $1,425 BUILDIUM
• 2024-08-02 Listed for Rent $1,425 BUILDIUM
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-18 Sold (Public Records) $329,000 Public Records
• 2018-06-15 Sold (MLS) $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-12 Listed $50,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-11-07 Sold (Public Records) $24,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,130 · +2.2% YoY. Source: county tax records.