16 Bruce Ct · Mankato, MN 56001

$265,000

3 bd · 1.5 ba · 1,468 sqft · SingleFamily public records · 121 Days on market

Built 1955 6,011 sqft lot $181/sqft · 10% above area Est $274k · at est. ↓ 6% since listing

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Why this score? — see what drove the F 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 +8.9/15.0
• Cash flow +7.0/30.0
• Rent growth +4.6/5.0
• Schools +4.4/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-cared-for 4-bedroom, 2-bath, two-story home offers a thoughtfully designed layout that flows effortlessly from room to room. Beautiful oak floors add warmth and character, creating inviting living spaces perfect for everyday comfort and entertaining. The living room opens to a deck, extending your living space outdoors and overlooking the yard—ideal for relaxing or gathering with friends and family. Tucked away on a quiet cul-de-sac, the home also features an unfinished basement with endless possibilities for future expansion or storage, along with a convenient storage shed. With a functional layout, outdoor living areas, and pride of ownership throughout, this home offers both comfort and potential in a peaceful setting. Sauna in the lower level stays, hardly been used.

Key facts

• Sauna
• Unfinished basement
• Storage shed

Tags

• OAK FLOORS
• DECK
• UNFINISHED BASEMENT
• STORAGE SHED
• SAUNA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-384 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (25.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (37.0% below list).
• Recommended offer: $167k (37.0% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.5% in Mankato — 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 77/100 on livability (#133 in MN, #2,970 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, amenities C-, commute F.
• Mankato Public School District (urban): math 48% / reading 56% proficiency, ranked #98 of 301 in MN (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Roosevelt Elementary (math 47% / reading 57%, grade C-, #368 of 857 statewide, top 47%, 333 students, 42% FRL); Dakota Meadows Middle School (math 36% / reading 59%, grade C-, #93 of 258 statewide, top 37%, 878 students, 34% FRL); Mankato West Senior High (math 52% / reading 67%, grade C+, #46 of 471 statewide, top 11%, 1,223 students, 32% FRL).
• Market conditions: Rents rising fast (+8.6%/yr); 359 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 269 units permitted in Blue Earth County in 2024 (154 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 $8k of value loss. Plan a longer hold.
• Blue Earth County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,001 (37.0% 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. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.63% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.22%
• DSCR: 0.72
• GRM: 13.2

CMA / ARV

• ARV (median comp): $273,503
• List price: $265,000
• Delta: -3.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 W 11th St	0.19mi	4/3.0 (+1)	1,457 (-1%)	12mo	$225,000	$154	69
117 W 9th St	0.46mi	3/1.0	1,384 (-6%)	0mo	$205,900	$149	67
418 W 11th St	0.18mi	3/1.5	1,328 (-10%)	16mo	$251,000	$189	63
50 Skyline Dr	0.63mi	3/1.0	1,520 (+4%)	6mo	$342,000	$225	57
106 Blue Earth St	0.58mi	3/1.5	1,620 (+10%)	1mo	$320,000	$198	55
1404 Carney Ave	0.06mi	4/2.0 (+1)	1,632 (+11%)	20mo	$345,000	$211	54
129 Rose St	0.24mi	3/2.0	1,253 (-15%)	12mo	$275,000	$219	53
904 Owatonna St	0.50mi	3/2.0	1,684 (+15%)	14mo	$300,000	$178	39
805 Baker Ave	0.52mi	3/2.0	1,652 (+12%)	20mo	$262,000	$159	36
118 Moreland Ave	0.44mi	2/2.0 (-1)	1,654 (+13%)	22mo	$245,000	$148	33
209 W 5th St	0.70mi	4/2.5 (+1)	1,648 (+12%)	16mo	$285,000	$173	25

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: -22.1%
• Equity multiple: 0.21×
• Total profit: $-58,645
• Equity at exit: $39,512

10-year hold

• IRR: -7.6%
• Equity multiple: 0.43×
• Total profit: $-42,632
• Equity at exit: $22,912

Cash invested: $74,200 (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 56001

• Rents YoY: 8.6%
• Active inventory: 359
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,670 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$204 /mo · $2,442/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-384

Break-even live

Break-even rent $2,156

Max offer price $197,112

Occupancy floor —

Sensitivity live

Price	-10% $-234	-5% $-309	+0% $-384	+5% $-459	+10% $-534
Rent	-10% $-516	-5% $-450	+0% $-384	+5% $-318	+10% $-252
Rate	-1.0pp $-251	-0.5pp $-317	base $-384	+0.5pp $-453	+1.0pp $-523

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Dewey Ln Mankato, MN	2.0	1.0	899	$932	$1.04	46d	1	0.96mi

Listing history 13 events

1. 2026-06-13
   pricedays on marketlisting id $265,000 Pending 121 DOM
2. 2026-06-05
   pricestatusdays on marketlisting id $250,000 Pending 87 DOM
3. 2026-06-03
   days on market $265,000 Active 121 DOM
4. 2026-06-02
   days on market $265,000 Active 120 DOM
5. 2026-06-01
   days on market $265,000 Active 119 DOM
6. 2026-05-31
   days on market $265,000 Active 118 DOM
7. 2026-05-30
   days on market $265,000 Active 117 DOM
8. 2026-04-27
   status Pending 797-char remark

   Show marketing remark (797 chars)

   This well-cared-for 4-bedroom, 2-bath, two-story home offers a thoughtfully designed layout that flows effortlessly from room to room. Beautiful oak floors add warmth and character, creating inviting living spaces perfect for everyday comfort and entertaining. The living room opens to a deck, extending your living space outdoors and overlooking the yard—ideal for relaxing or gathering with friends and family. Tucked away on a quiet cul-de-sac, the home also features an unfinished basement with endless possibilities for future expansion or storage, along with a convenient storage shed. With a functional layout, outdoor living areas, and pride of ownership throughout, this home offers both comfort and potential in a peaceful setting. Sauna in the lower level stays, hardly been used.

9. 2026-04-07
   price $250,000 797-char remark

   Show marketing remark (797 chars)

   This well-cared-for 4-bedroom, 2-bath, two-story home offers a thoughtfully designed layout that flows effortlessly from room to room. Beautiful oak floors add warmth and character, creating inviting living spaces perfect for everyday comfort and entertaining. The living room opens to a deck, extending your living space outdoors and overlooking the yard—ideal for relaxing or gathering with friends and family. Tucked away on a quiet cul-de-sac, the home also features an unfinished basement with endless possibilities for future expansion or storage, along with a convenient storage shed. With a functional layout, outdoor living areas, and pride of ownership throughout, this home offers both comfort and potential in a peaceful setting. Sauna in the lower level stays, hardly been used.

10. 2026-02-02
    listed $265,000 Active 797-char remark

    Show marketing remark (797 chars)

    This well-cared-for 4-bedroom, 2-bath, two-story home offers a thoughtfully designed layout that flows effortlessly from room to room. Beautiful oak floors add warmth and character, creating inviting living spaces perfect for everyday comfort and entertaining. The living room opens to a deck, extending your living space outdoors and overlooking the yard—ideal for relaxing or gathering with friends and family. Tucked away on a quiet cul-de-sac, the home also features an unfinished basement with endless possibilities for future expansion or storage, along with a convenient storage shed. With a functional layout, outdoor living areas, and pride of ownership throughout, this home offers both comfort and potential in a peaceful setting. Sauna in the lower level stays, hardly been used.

11. 2026-01-30
    listed $265,000 Active 797-char remark

    Show marketing remark (797 chars)

    This well-cared-for 4-bedroom, 2-bath, two-story home offers a thoughtfully designed layout that flows effortlessly from room to room. Beautiful oak floors add warmth and character, creating inviting living spaces perfect for everyday comfort and entertaining. The living room opens to a deck, extending your living space outdoors and overlooking the yard—ideal for relaxing or gathering with friends and family. Tucked away on a quiet cul-de-sac, the home also features an unfinished basement with endless possibilities for future expansion or storage, along with a convenient storage shed. With a functional layout, outdoor living areas, and pride of ownership throughout, this home offers both comfort and potential in a peaceful setting. Sauna in the lower level stays, hardly been used.

12. 2026-01-20
    historical
13. 2025-12-16
    listed $265,000 Active

ⓘ 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: $2,442 · $204/mo
• Projected year-2 tax: $2,705 · $225/mo
• Expected delta: +$263/yr (+$22/mo · 10.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $20,040
• − Mortgage interest: −$14,844
• − Property taxes: −$2,442
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$7,709
• Taxable loss: −$9,487
• Est. tax savings @ 24.0%: +$2,277
• After-tax cash flow: $-2,335/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: Mankato Public School District
• NCES district ID: 2718780
• Math proficiency: 48% ▼ -11.00%
• Reading proficiency: 56% ▼ -8.00%
• Median HH income: $49,469
• Composite: 44.36/100
• National rank: #2819
• State rank: #98 of 301 in MN

Livability — Mankato

• Score: 77/100
• State rank: #133
• US rank: #2970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mankato, MN
• County: Blue Earth County · 51,585 people
• City population: 51,585
• Metro: Mankato, MN
• Population (ZIP): 51,585
• Household income: $69,531
• Rent vs Own: 45.9% rent · 54.1% own
• Severe rent burden: 2394.0

Population outlook (Blue Earth County) Hauer SSP2

• Today (2025): 70,208 people
• By 2030: 72,708 · +3.6%
• By 2040: 77,481 · +10.4%
• By 2050: 82,842 · +18.0%
• By 2075: 99,990 · +42.4%
• By 2100: 116,795 · +66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Hispanic / Latino 5% Two or more races 4% Asian 3%
• Common ancestry: Portuguese 11% Lithuanian 3% Romanian 3%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Blue Earth

• 2024 margin: Toss-up / Even · D 48.3% · R 49.5% · Other 2.1%
• 2008→2024 swing: -14.2pp toward R · 2008: 12.9pp · 2024: -1.2pp
• All cycles: 2024: R+1.2 2020: D+4.4 2016: R+3.7 2012: D+9.5 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.46%
• Current HPI: 189.8485
• Rent YoY: ▲ 8.55%
• Metro: Mankato, 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

-5.7% since first listed

6 events — show timeline

• 2026-04-27 Pending — RASM
• 2026-04-07 Price Changed $250,000 RASM
• 2026-02-02 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-30 Listed $265,000 RASM
• 2026-01-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-16 Listed $265,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $2,442 · +1.9% YoY. Source: county tax records.