401 S Main St · Badger, MN 56714

$118,500

3 bd · 2.0 ba · 1,824 sqft · Other public records · 143 Days on market

Built 1900 0.35 ac lot

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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 +15.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.5/10.0
• Schools +5.4/10.0
• 1% rule +5.3/10.0
• DSCR +4.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Check out this 3 bedroom, 2 bath turn of the century home in Badger! This charming home has seen many recent updates including newer shingles, water heater, forced air furnace, much of the flooring, some new windows, dishwasher & range. Call your realtor today!

Key facts

• Newer shingles
• Much of the flooring
• Some new windows

Tags

• NEWER SHINGLES
• WATER HEATER
• FORCED AIR FURNACE
• MUCH OF THE FLOORING
• SOME NEW WINDOWS
• DISHWASHER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $118k.

Deal economics

• At list price, monthly cash flow is $46 ($548/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#716 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety D+, crime D, amenities F.
• Badger Public School District (rural): math 55% / reading 70% proficiency, ranked #123 of 467 in MN (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($819 loan paydown + $1k appreciation (1.0% local appreciation)).
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.03% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.15×
• Total profit: $5,034
• Equity at exit: $40,272

10-year hold

• IRR: 7.6%
• Equity multiple: 1.92×
• Total profit: $30,492
• Equity at exit: $53,378

Cash invested: $33,180 (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 56714

• Home prices YoY: 1.0%
• Active inventory: 7
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$621
• Tax from tax record: −$245 /mo · $2,944/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $46

Break-even live

Break-even rent $1,160

Max offer price $118,500

Occupancy floor 91%

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: $29,625
• Closing costs: $3,555
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2025-10-03
   status Pending
2. 2025-09-17
   price $118,500
3. 2025-08-11
   status Active
4. 2025-06-04
   status Pending
5. 2025-03-06
   listed $125,000 Active
6. 2012-05-01
   listed $37,900
7. 2010-04-08
   listed $28,000
8. 2009-09-09
   listed $18,000
9. 2008-11-14
   listed $14,900

ⓘ 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: $2,944 · $245/mo
• Projected year-2 tax: $2,944 · $245/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 8/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,610
• − Mortgage interest: −$6,638
• − Property taxes: −$2,944
• − Insurance: −$592
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$3,447
• Taxable loss: −$1,349
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $872/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: Badger Public School District
• NCES district ID: 2703540
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 70% ▲ 10.00%
• Median HH income: $46,198
• Composite: 54.27/100
• National rank: #2940
• State rank: #123 of 467 in MN

Livability — Badger

• Score: 62/100
• State rank: #716
• US rank: #17198

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Badger, MN
• Population (ZIP): 1,115

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 35% Scottish 8% Romanian 4%
• Foreign-born: 3% · South Korea
• Languages at home: 97% English-only · Other Indo-European 2% Spanish 1%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.97%
• Current HPI: 100.4115
• 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

+695.3% since first listed

9 events — show timeline

• 2025-10-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $118,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-11 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-06 Listed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-05-01 Listed $37,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-04-08 Listed $28,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-09-09 Listed $18,000 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-14 Listed $14,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+16.0%/yr

Latest (2026): $2,944 · +16.1% YoY. Source: county tax records.