513 E Ciro St · Truman, MN 56088

$174,500

3 bd · 2.0 ba · 1,492 sqft · SingleFamily public records · 21 Days on market

Built 1979 0.44 ac lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.1/10.0

Listing remarks

Welcome to this 3BR/2BA split-level Truman home built in 1979. The bright, open-concept upper level is dreamy with a spacious living room that flows seamlessly into the updated kitchen with huge island/breakfast bar, modern cabinetry, updated countertops, and ample workspace. All appliances included with purchase. Two bedrooms and a full bathroom complete the upper level. The lower level has a large family/recreation room with wood-burning stove—perfect for relaxing during colder months. You'll also find a third bedroom, a convenient ¾ bathroom, and a dedicated utility/laundry room with extra storage. Outside, enjoy a generous backyard with alley access. The heated and insulate

Key facts

• Wood-burning stove
• Updated kitchen
• Generous backyard

Tags

• OPEN-CONCEPT UPPER LEVEL
• UPDATED KITCHEN
• HUGE ISLAND BREAKFAST BAR
• WOOD-BURNING STOVE
• DEDICATED UTILITY LAUNDRY ROOM
• GENEROUS BACKYARD

Property features AI

Finance

• Financial info: No fractional ownership indicated

Exterior

• Parking: Attached heated and insulated garage; Concrete floor; 2-car garage (23 x 21)
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers
• Home design: Residential split entry (bi-level) design; One-level main living/primary bedroom; Facing direction not specified
• Construction: Asphalt roof; Block foundation
• Exterior features: Wood exterior; Heavy tree coverage; City street frontage with curbs, paved streets, street lights and storm sewer

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Kitchen with breakfast bar and window
• Bedrooms: 3 bedrooms (one-level primary bedroom); Upper-level bedroom — 12.8 x 10.11; Upper-level bedroom — 11.10 x 10.5; Lower-level bedroom — 13 x 12.3
• Bathrooms: Main floor full bathroom; Basement 3/4 bathroom
• Heating & cooling: Forced air heating; Wood stove; Central air conditioning
• Interior features: Finished full basement; Finished basement recreation room; Breakfast bar; Kitchen window; Main floor primary bedroom; Water softener (rented); Wood-burning fireplace with wood stove
• Laundry & utility: Washer and dryer included; Lower-level laundry room (11.8 x 11.2)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $-267 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (28.0% below list).
• Recommended offer: $126k (28.0% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Truman Elementary (math 27% / reading 42%, grade F, #655 of 857 statewide, top 78%, 158 students, 68% FRL); Truman Secondary (math 15% / reading 34%, grade F, #375 of 471 statewide, top 81%, 88 students, 64% FRL) — zoned schools average 66% FRL vs 36% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 42% district-wide (-13 pts) — the specific schools serving this property underperform the Truman Public School District average; the district grade overstates school quality for this exact location.
• 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 $19k of equity ($1k loan paydown + $17k 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.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $100k; list at $174k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,572 (28.0% 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 1979 — 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. 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?
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: 0.72% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.56%
• DSCR: 0.71
• GRM: 11.6

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: 19.7%
• Equity multiple: 2.60×
• Total profit: $78,086
• Equity at exit: $157,203

10-year hold

• IRR: 18.1%
• Equity multiple: 5.98×
• Total profit: $243,425
• Equity at exit: $339,015

Cash invested: $48,860 (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: 11.6×

Monthly cashflow live

• Estimated rent: $1,256 medium
• Mortgage (P&I): −$915
• Tax from tax record: −$271 /mo · $3,254/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-267

Break-even live

Break-even rent $1,594

Max offer price $127,342

Occupancy floor —

Sensitivity live

Price	-10% $-168	-5% $-218	+0% $-267	+5% $-316	+10% $-366
Rent	-10% $-366	-5% $-317	+0% $-267	+5% $-217	+10% $-168
Rate	-1.0pp $-179	-0.5pp $-223	base $-267	+0.5pp $-312	+1.0pp $-358

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: $43,625
• Closing costs: $5,235
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-22
   days on market $174,500 Active 21 DOM
2. 2026-06-21
   days on market $174,500 Active 20 DOM
3. 2026-06-21
   days on market $174,500 Active 19 DOM
4. 2026-06-18
   days on market $174,500 Active 17 DOM
5. 2026-06-17
   days on market $174,500 Active 16 DOM
6. 2026-06-16
   days on market $174,500 Active 15 DOM
7. 2026-06-15
   days on market $174,500 Active 14 DOM
8. 2026-06-13
   days on market $174,500 Active 12 DOM
9. 2026-06-12
   days on market $174,500 Active 11 DOM
10. 2026-06-09
    days on market $174,500 Active 8 DOM
11. 2026-06-08
    days on market $174,500 Active 7 DOM
12. 2026-06-07
    days on market $174,500 Active 6 DOM
13. 2026-06-05
    days on market $174,500 Active 4 DOM
14. 2026-06-04
    days on market $174,500 Active 2 DOM
15. 2026-06-02
    price $174,500 Active 1 DOM
16. 2026-06-01
    remarks 686-char remark
17. 2026-06-01
    listed $174,498 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: $3,254 · $271/mo
• Projected year-2 tax: $3,254 · $271/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 5/10 Major 50% 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: $15,069
• − Mortgage interest: −$9,775
• − Property taxes: −$3,254
• − Insurance: −$872
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$5,076
• Taxable loss: −$6,320
• Est. tax savings @ 24.0%: +$1,517
• After-tax cash flow: $-1,687/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

+58.8% since first listed

6 events — show timeline

• 2026-06-01 Price Changed $174,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-01 Listed $174,498 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-03 Sold (Public Records) $99,900 Public Records
• 2011-10-31 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-31 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+12.7%/yr

Latest (2025): $3,254 · +37.1% YoY. Source: county tax records.