112 S 2nd St · Kiester, MN 56051

$142,000

3 bd · 1.0 ba · 902 sqft · Other public records · 48 Days on market

Built 1900 6,969 sqft lot $157/sqft · 176% above area

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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 +15.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• DSCR +4.9/10.0
• Schools +4.2/10.0
• 1% rule +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

Key facts

• Newer shingles
• New siding
• Handicap ramp

Tags

• NEW WINDOWS
• HANDICAP RAMP
• NEW SIDING
• NEWER SHINGLES

Property features AI

Exterior

• Parking: Detached or attached 2-car garage
• Utilities: City water connected; City sewer connected; Propane fuel
• Home design: Residential property; One and one-half story; Main entry on main level
• Construction: Block foundation; Roof replaced/updated within 8 years
• Exterior features: Deck; Metal and vinyl exterior; Wheelchair ramp(s); Garage(s) on property; City street frontage with paved streets; Publicly maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Kitchen/Dining room layout
• Bedrooms: 3 bedrooms (two on upper level, primary on main level)
• Bathrooms: Main floor full bathroom; Main floor 3/4 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Kitchen window; Main floor primary bedroom; Main floor bedroom; Main floor laundry; Washer/dryer hookup
• Laundry & utility: Main level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $142k.

Deal economics

• At list price, monthly cash flow is $67 ($803/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (15.2% below list).
• Recommended offer: $120k (15.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#710 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities F.
• United South Central School District (rural): math 46% / reading 53% proficiency, ranked #130 of 301 in MN (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: United South Central Elementary (math 57% / reading 59%, grade C+, #258 of 857 statewide, top 30%, 445 students, 55% FRL); United South Central High School (math 32% / reading 47%, grade F, #246 of 471 statewide, top 59%, 333 students, 51% FRL) — zoned schools average 53% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 4 units permitted in Faribault County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($982 loan paydown + $3k appreciation (2.1% local appreciation)).
• Faribault County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $104k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,430 (15.2% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 9.8

CMA / ARV

• ARV (median comp): $65,184
• List price: $142,000
• Delta: 117.84%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

2.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.38×
• Total profit: $14,935
• Equity at exit: $57,051

10-year hold

• IRR: 10.2%
• Equity multiple: 2.39×
• Total profit: $55,401
• Equity at exit: $82,964

Cash invested: $39,760 (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 56051

• Home prices YoY: 0.9%
• Active inventory: 9
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$745
• Tax from tax record: −$81 /mo · $968/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $67

Break-even live

Break-even rent $1,120

Max offer price $142,000

Occupancy floor 89%

Sensitivity live

Price	-10% $147	-5% $107	+0% $67	+5% $27	+10% $-13
Rent	-10% $-28	-5% $19	+0% $67	+5% $114	+10% $162
Rate	-1.0pp $138	-0.5pp $103	base $67	+0.5pp $30	+1.0pp $-7

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-21
   days on market $142,000 Active 48 DOM
2. 2026-06-19
   days on market $142,000 Active 46 DOM
3. 2026-06-18
   days on market $142,000 Active 45 DOM
4. 2026-06-17
   days on market $142,000 Active 44 DOM
5. 2026-06-16
   days on market $142,000 Active 43 DOM
6. 2026-06-15
   days on market $142,000 Active 42 DOM
7. 2026-06-14
   days on market $142,000 Active 40 DOM
8. 2026-06-12
   pricedays on market $142,000 Active 39 DOM
9. 2026-06-09
   days on market $146,900 Active 36 DOM
10. 2026-06-08
    days on market $146,900 Active 35 DOM
11. 2026-06-07
    days on market $146,900 Active 34 DOM
12. 2026-06-07
    days on market $146,900 Active 33 DOM
13. 2026-06-04
    days on market $146,900 Active 30 DOM
14. 2026-06-02
    days on market $146,900 Active 29 DOM
15. 2026-06-01
    days on market $146,900 Active 28 DOM
16. 2026-05-31
    days on market $146,900 Active 27 DOM
17. 2026-05-31
    days on market $146,900 Active 26 DOM
18. 2026-05-04
    listed $151,900 Active 252-char remark
19. 2025-09-09
    soldstatus $104,000
20. 2025-09-08
    soldstatus $104,000 Sold 496-char remark

    Show marketing remark (496 chars)

    Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

21. 2025-08-26
    status Pending 496-char remark

    Show marketing remark (496 chars)

    Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

22. 2025-07-29
    price $112,800 496-char remark

    Show marketing remark (496 chars)

    Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

23. 2025-07-05
    listed $118,000 Active 496-char remark

    Show marketing remark (496 chars)

    Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

24. 2025-06-16
    historical $118,000 496-char remark

    Show marketing remark (496 chars)

    Welcome to 112 S. 2nd Street in the quiet town of Kiester! This charming home has been thoughtfully updated throughout, including a full roof replacement and major electrical upgrades, two of the most important and costly improvements already done. This semi-open layout offers a comfortable flow, perfect for someone seeking affordable, single-level living. Whether you are downsizing or buying your first home, this property provides low-maintenance comfort in a peaceful small-town setting.

25. 2025-03-03
    historical
26. 2024-11-11
    listed $125,000 Active
27. 2024-06-05
    soldstatus $21,900 Sold
28. 2024-05-30
    status Pending
29. 2024-05-18
    historical Contingent - Inspection
30. 2024-05-13
    price $23,900
31. 2024-04-07
    price $26,900
32. 2024-02-02
    price $29,900
33. 2024-01-22
    price $33,900
34. 2023-12-24
    price $37,900
35. 2023-09-25
    price $45,900
36. 2023-05-23
    price $29,900
37. 2023-04-15
    listed $32,900 Active
38. 2023-03-18
    historical
39. 2023-02-09
    price $34,900
40. 2022-12-19
    listed $37,500 Active
41. 2018-12-10
    historical
42. 2013-12-19
    soldstatus $10,000
43. 2013-12-19
    soldstatus $10,000
44. 2013-10-24
    listed $12,500
45. 2013-10-24
    listed $12,500

ⓘ 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: $968 · $81/mo
• Projected year-2 tax: $1,279 · $107/mo
• Expected delta: +$311/yr (+$26/mo · 32.1%)

ⓘ 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 ≥99°F today · 16 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: $14,452
• − Mortgage interest: −$7,954
• − Property taxes: −$968
• − Insurance: −$710
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$4,131
• Taxable loss: −$1,624
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $1,193/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: United South Central School District
• NCES district ID: 2700005
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 53% ▼ -8.00%
• Median HH income: $46,722
• Composite: 42.03/100
• National rank: #3330
• State rank: #130 of 301 in MN

Livability — Kiester

• Score: 62/100
• State rank: #710
• US rank: #17133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kiester, MN
• City population: 648
• Population (ZIP): 648

Population outlook (Faribault County) Hauer SSP2

• Today (2025): 13,474 people
• By 2030: 13,112 · -2.7%
• By 2040: 12,454 · -7.6%
• By 2050: 11,973 · -11.1%
• By 2075: 11,565 · -14.2%
• By 2100: 10,844 · -19.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 29% Serbian 6% Scottish 5%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Faribault

• 2024 margin: Solid R (+37.4) · D 30.4% · R 67.8% · Other 1.8%
• 2008→2024 swing: -31.8pp toward R · 2008: -5.6pp · 2024: -37.4pp
• All cycles: 2024: R+37.4 2020: R+33.6 2016: R+34.1 2012: R+9.1 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.13%
• Current HPI: 231.8589
• 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

+1036.0% since first listed

30 events — show timeline

• 2026-06-10 Price Changed $142,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $146,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listed $151,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-09 Sold (Public Records) $104,000 Public Records
• 2025-09-08 Sold (MLS) $104,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-29 Price Changed $112,800 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-05 Listed $118,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-16 Coming Soon $118,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-11 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-05 Sold (MLS) $21,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-13 Price Changed $23,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-07 Price Changed $26,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-02 Price Changed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-22 Price Changed $33,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-24 Price Changed $37,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-25 Price Changed $45,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-23 Price Changed $29,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-15 Listed $32,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-18 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2023-02-09 Price Changed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-12-19 Listed $37,500 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-19 Sold (MLS) $10,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-12-19 Sold (MLS) $10,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-24 Listed $12,500 NORTHSTARMLS as Distributed by MLS Grid
• 2013-10-24 Listed $12,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-0.5%/yr

Latest (2025): $968 · +14.7% YoY. Source: county tax records.