214 Markley Ave N · Thief River Falls, MN 56701

$160,000

3 bd · 1.0 ba · 1,198 sqft · SingleFamily · 41 Days on market

Built 1949 6,403 sqft lot Est $196k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

Key facts

• 6,403 sq ft lot
• 2 garage spots
• Built 1949

Property features AI

Finance

• Financial info: Conventional mortgage financing

Exterior

• Parking: Attached 2-car garage
• Utilities: City water (in street); City sewer (in street); Natural gas
• Home design: Residential property; One and one-half levels; Above-grade finished living area and main-level living; Foundation with block
• Construction: Frame construction
• Exterior features: Deck; Enclosed patio/porch; Front porch; Lot approximately 0.147 acres (50 x 128)

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Three bedrooms (two on main level, one on lower level)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: All living facilities on one level; Main floor bedroom; Eat-in kitchen; Full unfinished basement with sump pump
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $23 ($270/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 $138k (14.1% below list).
• Recommended offer: $138k (14.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#219 in MN, #4,606 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Thief River Falls School District (town): math 39% / reading 47% proficiency, ranked #201 of 301 in MN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 102 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 11 units permitted in Pennington 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.
• Pennington County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.
• Current owner paid $125k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,500 (14.1% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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 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?
5. 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?
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: 0.86% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $196,472
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
445 Maple Ave S	0.48mi	4/1.5 (+1)	1,127 (-6%)	8mo	$185,000	$164	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-24,497
• Equity at exit: $23,857

10-year hold

• IRR: -6.8%
• Equity multiple: 0.56×
• Total profit: $-19,505
• 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 56701

• Active inventory: 102
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$158 /mo · $1,896/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $23

Break-even live

Break-even rent $1,346

Max offer price $160,000

Occupancy floor 93%

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 Tindolph Ave N Thief River Falls, MN	3.0	2.0	1000	$1,375	$1.38	43d	1	0.11mi

Listing history 9 events

1. 2026-05-06
   status Pending
2. 2026-04-29
   historical Contingent - Inspection
3. 2026-03-26
   listed $160,000 Active
4. 2021-09-13
   soldstatus $125,000
5. 2021-09-03
   soldstatus $125,000 Sold 328-char remark

   Show marketing remark (328 chars)

   This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

6. 2021-08-04
   status Pending 328-char remark

   Show marketing remark (328 chars)

   This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

7. 2021-07-29
   historical Contingent - Sale of Another Property 328-char remark

   Show marketing remark (328 chars)

   This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

8. 2021-07-14
   price $127,900 328-char remark

   Show marketing remark (328 chars)

   This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

9. 2021-06-19
   listed $130,000 Active 328-char remark

   Show marketing remark (328 chars)

   This adorable home has two bedrooms on the main floor and a third bedroom upstairs. You could also use the upstairs for a "gaming" room or leave as a third bedrooms. Newer windows, updated electrical and plumbing with an external sump pump. There is a detached garage in the back. Call today for a private showing.

ⓘ 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: $1,896 · $158/mo
• Projected year-2 tax: $1,896 · $158/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$8,962
• − Property taxes: −$1,896
• − Insurance: −$800
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,655
• Taxable loss: −$2,453
• Est. tax savings @ 24.0%: +$589
• After-tax cash flow: $859/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: Thief River Falls School District
• NCES district ID: 2738850
• Math proficiency: 39% ▼ -19.00%
• Reading proficiency: 47% ▼ -13.00%
• Median HH income: $49,239
• Composite: 36.88/100
• National rank: #4547
• State rank: #201 of 301 in MN

Livability — Thief River Falls

• Score: 74/100
• State rank: #219
• US rank: #4606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thief River Falls, MN
• City population: 12,814
• Population (ZIP): 12,814

Population outlook (Pennington County) Hauer SSP2

• Today (2025): 14,800 people
• By 2030: 15,030 · +1.6%
• By 2040: 15,402 · +4.1%
• By 2050: 15,601 · +5.4%
• By 2075: 15,659 · +5.8%
• By 2100: 14,231 · -3.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 5% Two or more races 4% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 34% Romanian 4% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Pennington

• 2024 margin: Solid R (+31.5) · D 33.1% · R 64.6% · Other 2.3%
• 2008→2024 swing: -33.6pp toward R · 2008: 2.1pp · 2024: -31.5pp
• All cycles: 2024: R+31.5 2020: R+27.0 2016: R+27.8 2012: R+4.3 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.53%
• Current HPI: 136.4729
• 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

+23.1% since first listed

9 events — show timeline

• 2026-05-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-26 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-09-13 Sold (Public Records) $125,000 Public Records
• 2021-09-03 Sold (MLS) $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-08-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2021-07-14 Price Changed $127,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-19 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+12.8%/yr

Latest (2025): $1,896 · -1.5% YoY. Source: county tax records.