510 Monroe St SE · Hutchinson, MN 55350

$149,900

2 bd · 1.0 ba · 564 sqft · SingleFamily public records · 56 Days on market

Built 1886 8,712 sqft lot $266/sqft · 165% above area Est $169k · 11% under ↓ 13% since listing

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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 +12.6/15.0
• Cash flow +10.8/30.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover timeless charm with a modern edge at 510 Monroe St SE, tucked into a peaceful neighborhood in Hutchinson. This beautifully updated 2-bedroom, 1-bath home seamlessly blends classic character with today’s finishes, offering comfort, style, and easy living. Whether you’re a first-time buyer or looking to simplify your lifestyle, this inviting home is the perfect place to settle in and make your own.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1886

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-68 ($-810/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (26.7% below list).
• Recommended offer: $110k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.1% in Hutchinson — 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 (#72 in MN, #1,744 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Hutchinson Public School District (town): math 56% / reading 56% proficiency, ranked #62 of 301 in MN (top 21%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 57 units permitted in McLeod 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 $4k of value loss. Plan a longer hold.
• McLeod County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $35k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900 (26.7% 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. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.93%
• DSCR: 0.91
• GRM: 11.4

CMA / ARV

• ARV (median comp): $169,179
• List price: $149,900
• Delta: -11.40%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-28,635
• Equity at exit: $22,351

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-30,654
• Equity at exit: $12,961

Cash invested: $41,972 (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 55350

• Home prices YoY: -30.6%
• Active inventory: 105
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-68

Break-even live

Break-even rent $1,184

Max offer price $137,975

Occupancy floor —

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 California St NW Apt 204 Hutchinson, MN	2.0	1.0	750	$1,099	$1.47	43d	1	1.46mi

Listing history 25 events

1. 2026-06-18
   days on market $149,900 Active 56 DOM
2. 2026-06-17
   days on market $149,900 Active 55 DOM
3. 2026-06-16
   days on market $149,900 Active 54 DOM
4. 2026-06-15
   days on market $149,900 Active 53 DOM
5. 2026-06-13
   days on market $149,900 Active 51 DOM
6. 2026-06-12
   days on market $149,900 Active 50 DOM
7. 2026-06-09
   pricedays on market $149,900 Active 47 DOM
8. 2026-06-08
   days on market $164,900 Active 46 DOM
9. 2026-06-07
   days on market $164,900 Active 45 DOM
10. 2026-06-07
    days on market $164,900 Active 44 DOM
11. 2026-06-04
    days on market $164,900 Active 41 DOM
12. 2026-06-02
    days on market $164,900 Active 40 DOM
13. 2026-06-01
    days on market $164,900 Active 39 DOM
14. 2026-05-31
    days on market $164,900 Active 38 DOM
15. 2026-05-31
    days on market $164,900 Active 37 DOM
16. 2026-05-17
    price $174,900 420-char remark

    Show marketing remark (420 chars)

    Discover timeless charm with a modern edge at 510 Monroe St SE, tucked into a peaceful neighborhood in Hutchinson. This beautifully updated 2-bedroom, 1-bath home seamlessly blends classic character with today’s finishes, offering comfort, style, and easy living. Whether you’re a first-time buyer or looking to simplify your lifestyle, this inviting home is the perfect place to settle in and make your own.

17. 2026-05-14
    status Active 420-char remark

    Show marketing remark (420 chars)

    Discover timeless charm with a modern edge at 510 Monroe St SE, tucked into a peaceful neighborhood in Hutchinson. This beautifully updated 2-bedroom, 1-bath home seamlessly blends classic character with today’s finishes, offering comfort, style, and easy living. Whether you’re a first-time buyer or looking to simplify your lifestyle, this inviting home is the perfect place to settle in and make your own.

18. 2026-03-23
    listed $184,900 Active 420-char remark

    Show marketing remark (420 chars)

    Discover timeless charm with a modern edge at 510 Monroe St SE, tucked into a peaceful neighborhood in Hutchinson. This beautifully updated 2-bedroom, 1-bath home seamlessly blends classic character with today’s finishes, offering comfort, style, and easy living. Whether you’re a first-time buyer or looking to simplify your lifestyle, this inviting home is the perfect place to settle in and make your own.

19. 2025-11-02
    historical
20. 2025-10-24
    price $169,900
21. 2025-10-13
    price $174,900
22. 2025-09-29
    price $179,900
23. 2025-09-03
    price $189,900
24. 2025-08-22
    listed $199,990 Active
25. 2025-08-20
    historical

ⓘ 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: $1,046 · $87/mo
• Projected year-2 tax: $1,362 · $114/mo
• Expected delta: +$316/yr (+$26/mo · 30.3%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,188
• − Mortgage interest: −$8,397
• − Property taxes: −$1,046
• − Insurance: −$750
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$4,361
• Taxable loss: −$3,475
• Est. tax savings @ 24.0%: +$834
• After-tax cash flow: $24/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: Hutchinson Public School District
• NCES district ID: 2714970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 56% ▼ -10.00%
• Median HH income: $56,261
• Composite: 48.36/100
• National rank: #2143
• State rank: #62 of 301 in MN

Livability — Hutchinson

• Score: 80/100
• State rank: #72
• US rank: #1744

Category grades

Amenities C+ 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: Hutchinson, MN
• City population: 18,567
• Population (ZIP): 18,567

Population outlook (McLeod County) Hauer SSP2

• Today (2025): 34,517 people
• By 2030: 33,442 · -3.1%
• By 2040: 30,815 · -10.7%
• By 2050: 27,695 · -19.8%
• By 2075: 21,923 · -36.5%
• By 2100: 17,237 · -50.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Portuguese 13% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · McLeod

• 2024 margin: Solid R (+38.0) · D 30.2% · R 68.1% · Other 1.7%
• 2008→2024 swing: -19.6pp toward R · 2008: -18.3pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+36.2 2016: R+38.4 2012: R+22.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.48%
• Current HPI: 203.0298
• 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

-12.5% since first listed

10 events — show timeline

• 2026-05-17 Price Changed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-23 Listed $184,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-13 Price Changed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-22 Listed $199,990 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-20 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $1,046 · -6.8% YoY. Source: county tax records.