1006 6th Ave NW · Austin, MN 55912

$160,000

2 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 48 Days on market

Built 1907 6,098 sqft lot $111/sqft · 10% above area Est $155k · at est.

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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).

• Cash flow +13.8/30.0
• ARV discount +6.1/15.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super starter home or move up to this 3 bedroom two bath home with many recent updates in the kitchen and baths, plus new paint and carpet plus hardwood floors. Attached garage, permanent siding, a very nice affordable and comfortable home!

Key facts

• Steel siding
• Functional layout
• Nice-sized yard

Tags

• STEEL SIDING
• HARDWOOD FLOORS
• FUNCTIONAL LAYOUT
• GENEROUSLY SIZED LIVING SPACES
• NICE-SIZED YARD

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; Two levels; Main level entry
• Construction: Living area about 1,540 sq ft; Above-grade finished area 1,440; Below-grade finished area 100; Total building area 2,052; Foundation: block
• Exterior features: Lot approximately 0.14 acres (45 x 135)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bath; 1 three-quarter bath
• Heating & cooling: Forced air heating; No central air
• Interior features: Partial basement; Block foundation

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $13 ($159/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 $126k (21.3% below list).
• Recommended offer: $126k (21.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.5% in Austin — 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 (#77 in MN, #1,829 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Austin Public School District (town): math 24% / reading 34% proficiency, ranked #267 of 301 in MN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.6%/yr); 191 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 53 units permitted in Mower 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,883 (21.3% 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 21% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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: 0.79% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.6

CMA / ARV

• ARV (median comp): $155,167
• List price: $160,000
• Delta: 3.11%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1303 NW 10th St	0.38mi	2/2.0	1,403 (-3%)	22mo	$164,900	$118	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-18,487
• Equity at exit: $23,857

10-year hold

• IRR: 3.8%
• Equity multiple: 1.34×
• Total profit: $15,035
• Equity at exit: $13,834

Cash invested: $44,800 (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 55912

• Home prices YoY: -34.4%
• Rents YoY: 11.6%
• Active inventory: 191
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$76 /mo · $906/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $13

Break-even live

Break-even rent $1,242

Max offer price $160,000

Occupancy floor 94%

Sensitivity live

Price	-10% $104	-5% $59	+0% $13	+5% $-32	+10% $-77
Rent	-10% $-86	-5% $-36	+0% $13	+5% $63	+10% $113
Rate	-1.0pp $94	-0.5pp $54	base $13	+0.5pp $-28	+1.0pp $-70

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 11th St NW Austin, MN	2.0	2.0	925	$1,300	$1.41	44d	1	0.10mi
704 1st Dr NW Austin, MN	3.0	1.0–2.0	981	$2,082	$2.12	44d	96	0.55mi
202 11th Ave NW Unit 602 Austin, MN	2.0	1.0	1000	$950	$0.95	44d	1	0.65mi
1204 1st Ave NE Austin, MN	3.0	2.0	1200	$1,600	$1.33	44d	1	1.48mi

Listing history 27 events

1. 2026-06-21
   days on market $160,000 Active 48 DOM
2. 2026-06-19
   days on market $160,000 Active 46 DOM
3. 2026-06-18
   days on market $160,000 Active 45 DOM
4. 2026-06-17
   days on market $160,000 Active 44 DOM
5. 2026-06-16
   days on market $160,000 Active 43 DOM
6. 2026-06-15
   days on market $160,000 Active 42 DOM
7. 2026-06-14
   days on market $160,000 Active 40 DOM
8. 2026-06-12
   days on market $160,000 Active 39 DOM
9. 2026-06-09
   days on market $160,000 Active 36 DOM
10. 2026-06-08
    days on market $160,000 Active 35 DOM
11. 2026-06-07
    days on market $160,000 Active 34 DOM
12. 2026-06-05
    days on market $160,000 Active 31 DOM
13. 2026-06-02
    days on market $160,000 Active 29 DOM
14. 2026-06-01
    days on market $160,000 Active 28 DOM
15. 2026-05-31
    days on market $160,000 Active 27 DOM
16. 2026-05-30
    days on market $160,000 Active 26 DOM
17. 2026-05-04
    listed $165,000 Active 331-char remark
18. 2022-08-30
    soldstatus $150,000
19. 2022-08-05
    soldstatus $150,000 Sold 242-char remark

    Show marketing remark (242 chars)

    Super starter home or move up to this 3 bedroom two bath home with many recent updates in the kitchen and baths, plus new paint and carpet plus hardwood floors. Attached garage, permanent siding, a very nice affordable and comfortable home!

20. 2022-05-24
    status Pending 242-char remark

    Show marketing remark (242 chars)

    Super starter home or move up to this 3 bedroom two bath home with many recent updates in the kitchen and baths, plus new paint and carpet plus hardwood floors. Attached garage, permanent siding, a very nice affordable and comfortable home!

21. 2022-05-20
    historical Contingent - Inspection 242-char remark

    Show marketing remark (242 chars)

    Super starter home or move up to this 3 bedroom two bath home with many recent updates in the kitchen and baths, plus new paint and carpet plus hardwood floors. Attached garage, permanent siding, a very nice affordable and comfortable home!

22. 2022-05-18
    listed $139,900 Active 242-char remark

    Show marketing remark (242 chars)

    Super starter home or move up to this 3 bedroom two bath home with many recent updates in the kitchen and baths, plus new paint and carpet plus hardwood floors. Attached garage, permanent siding, a very nice affordable and comfortable home!

23. 2018-12-10
    historical
24. 2008-10-16
    listed $52,000
25. 2005-08-30
    listed $52,900
26. 1998-11-27
    soldstatus $34,000
27. 1998-11-27
    soldstatus $31,000

ⓘ 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: $906 · $76/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$443/yr (+$37/mo · 48.9%)

ⓘ 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 1/10 Low 7 d/yr ≥98°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: $15,106
• − Mortgage interest: −$8,962
• − Property taxes: −$906
• − Insurance: −$800
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$4,655
• Taxable loss: −$2,634
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $791/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: Austin Public School District
• NCES district ID: 2703450
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 34% ▼ -9.00%
• Median HH income: $43,818
• Composite: 24.75/100
• National rank: #7604
• State rank: #267 of 301 in MN

Livability — Austin

• Score: 80/100
• State rank: #77
• US rank: #1829

Category grades

Amenities A- 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: Austin, MN
• County: Mower County · 29,632 people
• City population: 29,632
• Metro: Austin, MN
• Population (ZIP): 29,632
• Household income: $70,177
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 759.0

Population outlook (Mower County) Hauer SSP2

• Today (2025): 39,967 people
• By 2030: 40,204 · +0.6%
• By 2040: 40,509 · +1.4%
• By 2050: 40,841 · +2.2%
• By 2075: 42,029 · +5.2%
• By 2100: 42,272 · +5.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Asian 8% Two or more races 7% Black 5%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Portuguese 16% Lithuanian 2% Iranian 2%
• Foreign-born: 15% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 14% Other Asian/Pacific 5% German/W. Germanic 1%

Political lean MEDSL · Mower

• 2024 margin: R (+10.5) · D 43.9% · R 54.4% · Other 1.7%
• 2008→2024 swing: -34.1pp toward R · 2008: 23.6pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+5.8 2016: R+7.8 2012: D+22.7 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.60%
• Current HPI: 271.4199
• Rent YoY: ▲ 11.62%
• Metro: Austin, 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

+370.6% since first listed

12 events — show timeline

• 2026-05-22 Price Changed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-04 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-30 Sold (Public Records) $150,000 Public Records
• 2022-08-05 Sold (MLS) $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-24 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-20 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-18 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-12-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-10-16 Listed $52,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-30 Listed $52,900 NORTHSTARMLS as Distributed by MLS Grid
• 1998-11-27 Sold (Public Records) $31,000 Public Records
• 1998-11-27 Sold (Public Records) $34,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $906 · +10.8% YoY. Source: county tax records.