116 W Jessie St
Rushford, MN · View the listing ↗
Photos, via Realtor.com.
Needs more info before these numbers mean much. No reliable rent estimate: too few comparable rentals close by, and no RentCast estimate.
No rent estimate yet, so the numbers can't be run. Run it yourself in the calculator →
First look
This is a mixed-use building, not a clean 2–4 unit residential deal: one vacant commercial cafe space plus three apartments (1, 2 and 3 bed). The description gives no rents, no taxes and no expenses, and FACTS has no rent estimate or underwriting, so the numbers can't be checked yet. The cafe space is vacant and sits at the back of the income story, so assume zero from it until a tenant signs. Get the rent roll, leases, tax bill and heat setup first. Eighty-one days on market and a 1890 building with a 2013 renovation make it worth a showing only if the apartment rents carry the loan without the commercial space. Also confirm financing: a mixed-use property may not qualify for residential loan terms.
Things to consider
- Underwrite apartments only The cafe space is vacant and specialized. Counting any income from it before a lease is signed overstates cash flow.Listing says: “a vacant commercial space that was most recently operated as a coffee shop and cafe”
- Unverified taxes and unit data No parcel match means taxes, assessments and the legal unit count are unknown. Commercial tax rates are often higher than residential.
- Financing and insurance for mixed-use Lenders may require commercial terms, larger down payments or higher rates. Insurance may cost more with a commercial kitchen.Listing says: “Rare mixed-use investment opportunity in the heart of downtown Rushford!”
- Rents are unknown Without a rent roll or an estimate we cannot test the price against income. A small market may cap rents for the 1, 2 and 3 bed units.
- Renovation claim needs proof A 2013 update is useful, but 13 years old now and a 1890 building. Ask for permits and system ages.Listing says: “Fully renovated in 2013, including major updates to the plumbing, electrical, bathrooms, and utilities”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneFull renovation in 2013 including plumbing, electrical, bathrooms and utilitiesListing says: Fully renovated in 2013, including major updates to the plumbing, electrical, bathrooms, and utilities
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
Red flags and opportunities
Watch for
- highCommercial space is vacant and built out as a cafe with a drive-through. Re-leasing it may take a long time and need capital. Listing says: a vacant commercial space that was most recently operated as a coffee shop and cafe · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 116 JESSIE ST W
- mediumNo rents, expenses or lease terms given, and we have no rent estimate to compare to. Based on: data: rent_estimate · AI review
- mediumBuilt in 1890 and sold as mixed-use. Insurance, lending and zoning rules differ from a standard small multifamily. Listing says: Rare mixed-use investment opportunity in the heart of downtown Rushford! · AI review
- lowSmall-town market with 81 days on market suggests thin demand for the price. Based on: data: listing.days_on_market · AI review
Opportunities
- Leasing or owner-occupying the commercial space adds income or lets you run a business there. Listing says: making it ready for your next business venture or tenant · AI review
- Three apartments already occupied give some cash flow while the commercial space is marketed. Listing says: providing immediate rental income from three occupied residential units · AI review
- Major systems were reportedly updated in 2013, which may lower near-term capital needs. Listing says: major updates to the plumbing, electrical, bathrooms, and utilities · AI review
Questions for the agent
- What are the rent, lease end dates and deposits for each of the three apartments?
- Who pays heat, water, sewer, trash and electric, and are there separate meters for each unit and the commercial space?
- What were the last 12 months of taxes, insurance and utilities?
- What is the zoning, and is the cafe equipment included? Will the city allow other commercial uses?
- Why has it been listed for 81 days, and has the commercial space been marketed or had interest?
- Were the 2013 renovation permits closed, and what is the age of the roof and the heating and cooling systems?
Bottom line
Three occupied apartments plus a vacant cafe could work, but with no rents or expenses listed, assume the commercial space earns nothing and underwrite on the apartments alone. AI-assisted summary
What the records say
Where each number comes from
Price history Realtor.com
On the market since 2026-07-16 (81 days); down $52,000 (15.8%) from the first ask of $330,000.
| Date | Event | Price |
|---|---|---|
| Price changed | $278,000 | |
| Price changed | $315,000 | |
| Listed | $330,000 |
From the listing Listing
| Listed as | triplex |
| Property tax, 2025 | $1,182 |
| County | Fillmore |
As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.
Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Rushford on rental licensing before you buy.