6209 24th Ave NW · Rochester, MN 55901

$360,000

3 bd · 2.0 ba · 2,117 sqft · SingleFamily public records · 7 Days on market

Built 1990 10,018 sqft lot $170/sqft · 14% below area Est $424k · 15% under

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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).

• ARV discount +14.3/15.0
• Cash flow +7.0/30.0
• Livability +4.6/5.0
• Schools +4.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Listed and pending.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1990

Property features AI

Exterior

• Parking: Attached insulated garage with garage door opener; 2-car garage
• Security: Security system
• Utilities: City water (connected); City sewer (connected); Natural gas; Circuit breaker electrical service; Served by Rochester Public Utilities
• Home design: Residential property; Split entry (bi-level) design; Entry level: Main and lower levels
• Construction: Block foundation
• Exterior features: Vinyl exterior; Deck; Chain link fence; City-maintained street frontage (city street)

Interior

• Kitchen: Cooktop; Range; Microwave; Dishwasher; Disposal; Refrigerator; Stainless steel appliances
• Bedrooms: 5 bedrooms total; Main level: Primary bedroom, two more bedrooms; Lower level: Two bedrooms (one labeled Bedroom 4 and Bedroom 5)
• Flooring: Tile floors
• Bathrooms: Full bathroom in the basement; Three-quarter bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Vaulted ceilings; Main floor primary bedroom; Sauna; Security system; Kitchen window; Eat-in kitchen / kitchen-dining layout; Living/dining room layout; Washer/dryer hookup; Water softener (owned)
• Laundry & utility: Laundry room in basement; Washer hookup; Dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-528 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (34.5% below list).
• Recommended offer: $236k (34.5% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.6% in Rochester — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 92/100 on livability (#1 in MN, #27 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Rochester Public School District (urban): math 40% / reading 51% proficiency, ranked #152 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Overland Elementary School (468 students, 52% FRL); Kellogg Middle (math 42% / reading 53%, grade C-, #93 of 258 statewide, top 37%, 856 students, 43% FRL); Century Senior High (math 37% / reading 67%, grade D+, #111 of 471 statewide, top 26%, 1,698 students, 31% FRL).
• Market conditions: Rents rising (+2.2%/yr); 507 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,267 units permitted in Olmsted County in 2024 (915 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Olmsted County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 16y 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.

Recommended offer $235,923 (34.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 0.66% ✗
• Cap rate: 4.53%
• Cash-on-cash: -6.29%
• DSCR: 0.72
• GRM: 12.7

CMA / ARV

• ARV (median comp): $424,201
• List price: $360,000
• Delta: -15.13%
• Verdict: UNDERPRICED
• Comps: 9 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.18% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.07×
• Total profit: $-93,923
• Equity at exit: $53,677

10-year hold

• IRR: -30.1%
• Equity multiple: -0.32×
• Total profit: $-132,984
• Equity at exit: $31,126

Cash invested: $100,800 (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 55901

• Home prices YoY: -33.2%
• Rents YoY: 2.2%
• Active inventory: 507
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,359 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$354 /mo · $4,248/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-528

Break-even live

Break-even rent $3,028

Max offer price $266,713

Occupancy floor —

Sensitivity live

Price	-10% $-324	-5% $-426	+0% $-528	+5% $-630	+10% $-732
Rent	-10% $-714	-5% $-621	+0% $-528	+5% $-435	+10% $-342
Rate	-1.0pp $-347	-0.5pp $-437	base $-528	+0.5pp $-621	+1.0pp $-716

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6635 Lodge View DR NW Rochester, MN	1.0–3.0	1.0–2.5	1317	$2,889	$2.19	15d	37	0.50mi
6775 Gaillardia Dr NW Rochester, MN	4.0	3.0	2212	$2,200	$0.99	15d	1	0.83mi
1446 50th St NW Rochester, MN	4.0	2.0	1700	$2,220	$1.31	46d	1	1.13mi
6251 Fairway Dr NW Rochester, MN	4.0	2.0	2212	$2,525	$1.14	46d	1	1.30mi

Listing history 25 events

1. 2026-05-11
   status Pending 568-char remark
2. 2026-05-07
   historical Contingent - Inspection 568-char remark
3. 2026-05-05
   listed $360,000 Active 568-char remark
4. 2026-05-01
   historical $360,000 568-char remark
5. 2022-03-29
   soldstatus $340,000
6. 2022-03-18
   soldstatus $340,000 19-char remark

   Show marketing remark (19 chars)

   Listed and pending.

7. 2022-03-18
   listed $335,000 19-char remark

   Show marketing remark (19 chars)

   Listed and pending.

8. 2021-09-09
   soldstatus $320,000
9. 2021-08-20
   soldstatus $320,000 Sold

   Show marketing remark (194 chars)

   Roomy 5 bedroom, 2 bath home in awesome neighborhood. 3 bedrooms on main level! Cozy living room with fireplace. Large deck overlooking private backyard. Brand new A/C. Newer siding and windows.

10. 2021-07-19
    status Pending

    Show marketing remark (194 chars)

    Roomy 5 bedroom, 2 bath home in awesome neighborhood. 3 bedrooms on main level! Cozy living room with fireplace. Large deck overlooking private backyard. Brand new A/C. Newer siding and windows.

11. 2021-07-14
    listed $309,900 Active

    Show marketing remark (194 chars)

    Roomy 5 bedroom, 2 bath home in awesome neighborhood. 3 bedrooms on main level! Cozy living room with fireplace. Large deck overlooking private backyard. Brand new A/C. Newer siding and windows.

12. 2018-12-10
    historical
13. 2018-12-09
    historical
14. 2013-12-30
    soldstatus $176,834
15. 2013-12-30
    soldstatus $176,834
16. 2013-11-25
    listed $176,834
17. 2013-11-25
    listed $176,834
18. 2011-05-11
    soldstatus $171,000
19. 2011-04-29
    soldstatus $171,000
20. 2011-04-29
    soldstatus $171,000
21. 2010-12-30
    listed $172,500
22. 2010-12-30
    listed $172,500
23. 2005-06-14
    soldstatus $175,000
24. 1998-05-19
    soldstatus $108,500
25. 1989-11-01
    soldstatus $21,526

ⓘ 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: $4,248 · $354/mo
• Projected year-2 tax: $4,248 · $354/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 FEMA zone X (unshaded) · 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,311
• − Mortgage interest: −$20,166
• − Property taxes: −$4,248
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − Depreciation: −$10,473
• Taxable loss: −$12,905
• Est. tax savings @ 24.0%: +$3,097
• After-tax cash flow: $-3,240/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: Rochester Public School District
• NCES district ID: 2731800
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $66,540
• Composite: 40.6/100
• National rank: #3695
• State rank: #152 of 301 in MN

Livability — Rochester

• Score: 92/100
• State rank: #1
• US rank: #27

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, MN
• County: Olmsted County · 135,035 people
• City population: 135,035
• Metro: Rochester, MN
• Population (ZIP): 58,495
• Household income: $94,607
• Rent vs Own: 35.7% rent · 64.3% own
• Severe rent burden: 1651.0

Population outlook (Olmsted County) Hauer SSP2

• Today (2025): 165,999 people
• By 2030: 172,425 · +3.9%
• By 2040: 183,785 · +10.7%
• By 2050: 192,981 · +16.3%
• By 2075: 215,284 · +29.7%
• By 2100: 224,887 · +35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Asian 8% Two or more races 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Portuguese 11% Romanian 3% Iranian 2%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 3% Other Asian/Pacific 3% Arabic 2%

Political lean MEDSL · Olmsted

• 2024 margin: D (+10.7) · D 54.3% · R 43.6% · Other 2.1%
• 2008→2024 swing: +7.4pp toward D · 2008: 3.3pp · 2024: 10.7pp
• All cycles: 2024: D+10.7 2020: D+10.7 2016: D+0.8 2012: D+3.2 2008: D+3.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.08%
• Current HPI: 253.7999
• Rent YoY: ▲ 2.18%
• Metro: Rochester, 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

+1572.4% since first listed

25 events — show timeline

• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Listed $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Coming Soon $360,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-29 Sold (Public Records) $340,000 Public Records
• 2022-03-18 Listed $335,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-18 Sold (MLS) $340,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-09 Sold (Public Records) $320,000 Public Records
• 2021-08-20 Sold (MLS) $320,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-19 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-14 Listed $309,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-09 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-30 Sold (MLS) $176,834 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-30 Sold (MLS) $176,834 NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-25 Listed $176,834 NORTHSTARMLS as Distributed by MLS Grid
• 2013-11-25 Listed $176,834 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-11 Sold (Public Records) $171,000 Public Records
• 2011-04-29 Sold (MLS) $171,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-04-29 Sold (MLS) $171,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-30 Listed $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-12-30 Listed $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 2005-06-14 Sold (Public Records) $175,000 Public Records
• 1998-05-19 Sold (Public Records) $108,500 Public Records
• 1989-11-01 Sold (Public Records) $21,526 Public Records

Property tax history

+6.9%/yr

Latest (2025): $4,248 · +12.1% YoY. Source: county tax records.