226 N Central Ave · Truman, MN 56088

$99,900

2 bd · 1.0 ba · 1,501 sqft · SingleFamily public records · 199 Days on market

Built 1920

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Why this score? — see what drove the B- 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 +23.5/30.0
• Appreciation +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

If you are looking for a home that offers main floor living, here it is! There is a main floor stackable washer and dryer, good size bedroom, full bath and remodeled kitchen with all stainless steel appliances. It has hardwood floors in the living room, dining room, and laundry. Upstairs is another bedroom with 2 walk in closets.

Key facts

• Garage
• Built 1920
• Listed 199 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#150 in MN, #3,331 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Truman Public School District (rural): math 30% / reading 55% proficiency, ranked #343 of 467 in MN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 19 units permitted in Martin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Martin County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $50k; list at $100k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.10% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.99%
• DSCR: 1.36
• GRM: 7.6

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: 30.1%
• Equity multiple: 3.37×
• Total profit: $66,279
• Equity at exit: $89,998

10-year hold

• IRR: 26.1%
• Equity multiple: 7.65×
• Total profit: $185,880
• Equity at exit: $194,084

Cash invested: $27,972 (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 56088

• Home prices YoY: 6.4%
• Active inventory: 16
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,101 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$118 /mo · $1,416/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $186

Break-even live

Break-even rent $865

Max offer price $99,900

Occupancy floor 78%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-01-08
   status Pending
2. 2025-09-12
   status Active
3. 2025-08-04
   historical Contingent - Sale of Another Property
4. 2025-06-21
   listed $99,900 Active
5. 2023-10-18
   soldstatus $49,900 Sold 331-char remark

   Show marketing remark (331 chars)

   If you are looking for a home that offers main floor living, here it is! There is a main floor stackable washer and dryer, good size bedroom, full bath and remodeled kitchen with all stainless steel appliances. It has hardwood floors in the living room, dining room, and laundry. Upstairs is another bedroom with 2 walk in closets.

6. 2023-10-18
   soldstatus $49,900

   Show marketing remark (331 chars)

   If you are looking for a home that offers main floor living, here it is! There is a main floor stackable washer and dryer, good size bedroom, full bath and remodeled kitchen with all stainless steel appliances. It has hardwood floors in the living room, dining room, and laundry. Upstairs is another bedroom with 2 walk in closets.

7. 2023-09-15
   status Pending 331-char remark

   Show marketing remark (331 chars)

   If you are looking for a home that offers main floor living, here it is! There is a main floor stackable washer and dryer, good size bedroom, full bath and remodeled kitchen with all stainless steel appliances. It has hardwood floors in the living room, dining room, and laundry. Upstairs is another bedroom with 2 walk in closets.

8. 2023-09-11
   listed $49,900 Active 331-char remark

   Show marketing remark (331 chars)

   If you are looking for a home that offers main floor living, here it is! There is a main floor stackable washer and dryer, good size bedroom, full bath and remodeled kitchen with all stainless steel appliances. It has hardwood floors in the living room, dining room, and laundry. Upstairs is another bedroom with 2 walk in closets.

9. 2005-04-25
   soldstatus $15,500
10. 1992-04-22
    soldstatus $15,500

ⓘ 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: $1,416 · $118/mo
• Projected year-2 tax: $1,416 · $118/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 ≥100°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: $13,211
• − Mortgage interest: −$5,596
• − Property taxes: −$1,416
• − Insurance: −$500
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$2,906
• Taxable income: $679
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $2,071/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: Truman Public School District
• NCES district ID: 2740680
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 55% ▲ 10.00%
• Median HH income: $51,077
• Composite: 38.94/100
• National rank: #8312
• State rank: #343 of 467 in MN

Livability — Truman

• Score: 76/100
• State rank: #150
• US rank: #3331

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Truman, MN
• Population (ZIP): 2,063

Population outlook (Martin County) Hauer SSP2

• Today (2025): 18,583 people
• By 2030: 17,814 · -4.1%
• By 2040: 16,312 · -12.2%
• By 2050: 15,021 · -19.2%
• By 2075: 13,025 · -29.9%
• By 2100: 11,311 · -39.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Portuguese 9% Romanian 5% Scottish 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Indo-European 3% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+39.7) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -24.4pp toward R · 2008: -15.2pp · 2024: -39.7pp
• All cycles: 2024: R+39.7 2020: R+37.9 2016: R+41.4 2012: R+23.8 2008: R+15.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.26%
• Current HPI: 271.5076
• 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

+544.5% since first listed

10 events — show timeline

• 2026-01-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-04 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-21 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-18 Sold (Public Records) $49,900 Public Records
• 2023-10-18 Sold (MLS) $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-11 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-04-25 Sold (Public Records) $15,500 Public Records
• 1992-04-22 Sold (Public Records) $15,500 Public Records

Property tax history

+13.3%/yr

Latest (2025): $1,416 · +24.0% YoY. Source: county tax records.