304 2nd Ave Ave NW · Chisholm, MN 55719

$84,000

3 bd · 1.0 ba · 770 sqft · Other public records · 52 Days on market

Built 1910 5,663 sqft lot $109/sqft · at area comps Est $82k · at est.

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.8/10.0
• ARV discount +6.4/15.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors or first-time buyers! This 2-bedroom, 1-bath home in Chisholm is currently tenant-occupied and generating rental income — a turnkey addition to any portfolio. Both bedrooms are generously sized, offering comfort and flexibility for a variety of living arrangements. The charming front porch adds curb appeal and a welcoming touch that buyers and renters alike will love. The detached 2-stall garage provides excellent storage and parking, a standout feature in this price range. Whether you're looking to continue renting or transition into ownership yourself, this property delivers solid value in a established Iron Range community. Don't let this one slip by — schedule your showing today!

Key facts

• Charming front porch
• Turnkey addition
• 5,663 sq ft lot

Tags

• TURNKEY ADDITION
• CHARMING FRONT PORCH
• DETACHED 2-STALL GARAGE
• GENERATING RENTAL INCOME

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Frame construction; Metal siding; Asphalt shingle roof
• Exterior features: Porch; Chain link fencing; Lot approximately 109 x 25 (0.13 acres)

Interior

• Kitchen: Electric range; Refrigerator
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Electric water heater; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $84k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $84k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.7% in Chisholm — 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 74/100 on livability (#224 in MN, #4,803 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Chisholm Public School District (town): math 37% / reading 46% proficiency, ranked #219 of 301 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $18k; list at $84k implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,480 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 B-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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (median comp): $81,915
• List price: $84,000
• Delta: 2.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $398
• Equity at exit: $12,525

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $18,402
• Equity at exit: $7,263

Cash invested: $23,520 (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 55719

• Home prices YoY: -18.1%
• Active inventory: 36
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $994 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $220

Break-even live

Break-even rent $716

Max offer price $84,000

Occupancy floor 73%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $84,000 Active 52 DOM
2. 2026-06-18
   days on market $84,000 Active 51 DOM
3. 2026-06-17
   days on market $84,000 Active 50 DOM
4. 2026-06-16
   days on market $84,000 Active 49 DOM
5. 2026-06-15
   days on market $84,000 Active 48 DOM
6. 2026-06-14
   days on market $84,000 Active 46 DOM
7. 2026-06-13
   days on market $84,000 Active 45 DOM
8. 2026-06-10
   days on market $84,000 Active 43 DOM
9. 2026-06-09
   days on market $84,000 Active 42 DOM
10. 2026-06-08
    days on market $84,000 Active 41 DOM
11. 2026-06-07
    days on market $84,000 Active 40 DOM
12. 2026-06-05
    days on market $84,000 Active 37 DOM
13. 2026-06-03
    days on market $84,000 Active 36 DOM
14. 2026-06-02
    days on market $84,000 Active 35 DOM
15. 2026-06-01
    days on market $84,000 Active 34 DOM
16. 2026-05-31
    days on market $84,000 Active 33 DOM
17. 2026-05-30
    days on market $84,000 Active 32 DOM
18. 2026-04-28
    listed $84,000 Active 736-char remark

    Show marketing remark (736 chars)

    Great opportunity for investors or first-time buyers! This 2-bedroom, 1-bath home in Chisholm is currently tenant-occupied and generating rental income — a turnkey addition to any portfolio. Both bedrooms are generously sized, offering comfort and flexibility for a variety of living arrangements. The charming front porch adds curb appeal and a welcoming touch that buyers and renters alike will love. The detached 2-stall garage provides excellent storage and parking, a standout feature in this price range. Whether you're looking to continue renting or transition into ownership yourself, this property delivers solid value in a established Iron Range community. Don't let this one slip by — schedule your showing today!

19. 2026-04-28
    listed $84,000 Active 736-char remark

    Show marketing remark (736 chars)

    Great opportunity for investors or first-time buyers! This 2-bedroom, 1-bath home in Chisholm is currently tenant-occupied and generating rental income — a turnkey addition to any portfolio. Both bedrooms are generously sized, offering comfort and flexibility for a variety of living arrangements. The charming front porch adds curb appeal and a welcoming touch that buyers and renters alike will love. The detached 2-stall garage provides excellent storage and parking, a standout feature in this price range. Whether you're looking to continue renting or transition into ownership yourself, this property delivers solid value in a established Iron Range community. Don't let this one slip by — schedule your showing today!

20. 2026-04-28
    listed $84,000 Active

    Show marketing remark (736 chars)

    Great opportunity for investors or first-time buyers! This 2-bedroom, 1-bath home in Chisholm is currently tenant-occupied and generating rental income — a turnkey addition to any portfolio. Both bedrooms are generously sized, offering comfort and flexibility for a variety of living arrangements. The charming front porch adds curb appeal and a welcoming touch that buyers and renters alike will love. The detached 2-stall garage provides excellent storage and parking, a standout feature in this price range. Whether you're looking to continue renting or transition into ownership yourself, this property delivers solid value in a established Iron Range community. Don't let this one slip by — schedule your showing today!

21. 2021-09-16
    historical
22. 2021-09-05
    price $59,995
23. 2021-08-12
    price $64,995
24. 2021-08-01
    price $68,900
25. 2021-07-11
    listed $69,900 Active
26. 2016-09-14
    soldstatus $17,500
27. 2016-08-25
    soldstatus $17,500
28. 2016-08-25
    soldstatus $17,500
29. 2016-05-05
    listed $23,800
30. 2016-05-04
    listed $23,800
31. 2015-12-30
    soldstatus $49,849
32. 2015-08-27
    soldstatus $14,353
33. 2005-07-19
    soldstatus $37,900
34. 1999-03-22
    soldstatus $20,181

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,080 · $90/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 6/10 Major 71% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,930
• − Mortgage interest: −$4,705
• − Property taxes: −$1,080
• − Insurance: −$420
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$2,444
• Taxable income: $1,372
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $2,309/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: Chisholm Public School District
• NCES district ID: 2708910
• Math proficiency: 37% ▼ -8.00%
• Reading proficiency: 46% ▼ -14.00%
• Median HH income: $40,419
• Composite: 34.79/100
• National rank: #5114
• State rank: #219 of 301 in MN

Livability — Chisholm

• Score: 74/100
• State rank: #224
• US rank: #4803

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chisholm, MN
• Population (ZIP): 5,642

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Portuguese 9% Romanian 5% Iranian 1%
• Foreign-born: 0% · South Korea

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.24%
• Current HPI: 222.3957
• 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

+316.2% since first listed

17 events — show timeline

• 2026-04-28 Listed $84,000 LSAR
• 2026-04-28 Listed $84,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-28 Listed $84,000 RAOR
• 2021-09-16 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-05 Price Changed $59,995 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-12 Price Changed $64,995 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-01 Price Changed $68,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-11 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-09-14 Sold (Public Records) $17,500 Public Records
• 2016-08-25 Sold (MLS) $17,500 RAOR
• 2016-08-25 Sold (MLS) $17,500 LSAR
• 2016-05-05 Listed $23,800 RAOR
• 2016-05-04 Listed $23,800 LSAR
• 2015-12-30 Sold (Public Records) $49,849 Public Records
• 2015-08-27 Sold (Public Records) $14,353 Public Records
• 2005-07-19 Sold (Public Records) $37,900 Public Records
• 1999-03-22 Sold (Public Records) $20,181 Public Records

Property tax history

+6.5%/yr

Latest (2026): $1,080 · -6.7% YoY. Source: county tax records.