0000 4th Ave NE · East Grand Forks, MN 56721

$157,500

3 bd · 2.0 ba · 1,430 sqft · SingleFamily · 69 Days on market

Built 2025 Excellent condition $110/sqft · 41% below area Est $265k · 41% under ↓ 6% since listing

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Condition / age +5.0/5.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TO BE MOVED: This ranch-style home has been custom-built by the carpentry/industrial education students of NCTC (Northland Community & Technical College). The home offers 3 bedrooms, 2 baths and 1430 square feet of living space. Beautiful oak, shaker-style cabinetry in the kitchen, baths and laundry areas bring a cohesive look to this house, while the cathedral ceiling in the heart of the home maximizes the abundance of natural light throughout. The home also has recessed lighting, roughed-in plumbing, and is ready to be transferred to a new site. Just imagine this home on your farmstead, city lot, lake lot, or as a cabin-in-the-woods. A new home without the wait-time! ***All offers will be reviewed by a college board. The home's ownership will be transferred with a bill-of-sale, so the selling price is subject to sales tax. Call today for your private showing.

Key facts

• Custom-built
• Recessed lighting
• Cathedral ceiling

Tags

• CUSTOM-BUILT
• OAK SHAKER-STYLE CABINETRY
• CATHEDRAL CEILING
• RECESSED LIGHTING
• ROUGHED-IN PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $158k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $151k (4.0% below list).
• Recommended offer: $148k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.1% in East Grand Forks — 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 76/100 on livability (#167 in MN, #3,598 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Grand Forks Public School District (suburban): math 42% / reading 49% proficiency, ranked #168 of 301 in MN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; solid renter incomes; 42 units permitted in Polk 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.
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Recommended offer $148,050 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.96% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $265,322
• List price: $157,500
• Delta: -40.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 20th ST St NW	0.42mi	4/2.0 (+1)	1,599 (+12%)	3mo	$340,174	$213	54
44940 147th St SW	0.54mi	3/2.0	1,288 (-10%)	6mo	$299,999	$233	54
511 21st St NW	0.56mi	4/3.0 (+1)	1,336 (-7%)	5mo	$359,000	$269	50
1807 5th Ave NW	0.61mi	4/2.5 (+1)	1,302 (-9%)	2mo	$299,900	$230	48
2133 5th Ave NW	0.54mi	4/3.0 (+1)	1,600 (+12%)	13mo	$389,900	$244	35
1900 7th Ave NW	0.70mi	4/3.0 (+1)	1,248 (-13%)	17mo	$299,900	$240	23

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-18,715
• Equity at exit: $23,484

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-7,468
• Equity at exit: $13,618

Cash invested: $44,100 (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 56721

• Active inventory: 61
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$826
• Tax est. 1.5%: −$197 /mo · $2,362/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $107

Break-even live

Break-even rent $1,378

Max offer price $157,500

Occupancy floor 88%

Sensitivity live

Price	-10% $215	-5% $161	+0% $107	+5% $52	+10% $-2
Rent	-10% $-13	-5% $47	+0% $107	+5% $166	+10% $226
Rate	-1.0pp $186	-0.5pp $147	base $107	+0.5pp $66	+1.0pp $24

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: $39,375
• Closing costs: $4,725
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $157,500 Active 69 DOM
2. 2026-06-19
   days on market $157,500 Active 67 DOM
3. 2026-06-18
   days on market $157,500 Active 66 DOM
4. 2026-06-17
   days on market $157,500 Active 65 DOM
5. 2026-06-16
   days on market $157,500 Active 64 DOM
6. 2026-06-15
   days on market $157,500 Active 63 DOM
7. 2026-06-14
   days on market $157,500 Active 61 DOM
8. 2026-06-13
   days on market $157,500 Active 60 DOM
9. 2026-06-10
   days on market $157,500 Active 58 DOM
10. 2026-06-09
    days on market $157,500 Active 57 DOM
11. 2026-06-08
    days on market $157,500 Active 56 DOM
12. 2026-06-07
    pricedays on market $157,500 Active 55 DOM
13. 2026-06-03
    days on market $164,900 Active 51 DOM
14. 2026-06-02
    days on market $164,900 Active 50 DOM
15. 2026-06-01
    days on market $164,900 Active 49 DOM
16. 2026-05-31
    days on market $164,900 Active 48 DOM
17. 2026-05-30
    days on market $164,900 Active 47 DOM
18. 2026-05-19
    price $164,900 883-char remark

    Show marketing remark (883 chars)

    TO BE MOVED: This ranch-style home has been custom-built by the carpentry/industrial education students of NCTC (Northland Community & Technical College). The home offers 3 bedrooms, 2 baths and 1430 square feet of living space. Beautiful oak, shaker-style cabinetry in the kitchen, baths and laundry areas bring a cohesive look to this house, while the cathedral ceiling in the heart of the home maximizes the abundance of natural light throughout. The home also has recessed lighting, roughed-in plumbing, and is ready to be transferred to a new site. Just imagine this home on your farmstead, city lot, lake lot, or as a cabin-in-the-woods. A new home without the wait-time! ***All offers will be reviewed by a college board. The home's ownership will be transferred with a bill-of-sale, so the selling price is subject to sales tax. Call today for your private showing.

19. 2026-04-13
    listed $174,500 Active 883-char remark

    Show marketing remark (883 chars)

    TO BE MOVED: This ranch-style home has been custom-built by the carpentry/industrial education students of NCTC (Northland Community & Technical College). The home offers 3 bedrooms, 2 baths and 1430 square feet of living space. Beautiful oak, shaker-style cabinetry in the kitchen, baths and laundry areas bring a cohesive look to this house, while the cathedral ceiling in the heart of the home maximizes the abundance of natural light throughout. The home also has recessed lighting, roughed-in plumbing, and is ready to be transferred to a new site. Just imagine this home on your farmstead, city lot, lake lot, or as a cabin-in-the-woods. A new home without the wait-time! ***All offers will be reviewed by a college board. The home's ownership will be transferred with a bill-of-sale, so the selling price is subject to sales tax. Call today for your private showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $18,151
• − Mortgage interest: −$8,822
• − Property taxes: −$2,362
• − Insurance: −$788
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$4,582
• Taxable loss: −$1,307
• Est. tax savings @ 24.0%: +$314
• After-tax cash flow: $1,592/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.

Condition & rehab AI · 12 photos

Excellent 100/100 None rehab

This custom-built home is move-in ready with excellent condition and high-end finishes. It offers a great opportunity for a new owner to enjoy a beautiful, well-maintained property.

Value-add opportunities

• Both Custom cabinetry and marble countertops — Enhances aesthetic and functionality
• Both Painting exterior and interior walls — Improves curb appeal and interior appearance
• Both Landscape and curb appeal improvements — Enhances overall property value and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Custom cabinetry and marble countertops — Enhances aesthetic and functionality ↑
• Both Painting exterior and interior walls — Improves curb appeal and interior appearance ↑
• Both Landscape and curb appeal improvements — Enhances overall property value and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: East Grand Forks Public School District
• NCES district ID: 2711130
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $55,956
• Composite: 39.6/100
• National rank: #3924
• State rank: #168 of 301 in MN

Livability — East Grand Forks

• Score: 76/100
• State rank: #167
• US rank: #3598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Grand Forks, MN
• County: Polk County · 10,679 people
• City population: 10,679
• Metro: Grand Forks, ND-MN
• Population (ZIP): 10,679
• Household income: $82,525
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 276.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 31% Lithuanian 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.89%
• Current HPI: 176.3062
• Rent YoY: —
• Metro: Grand Forks, ND-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

-5.5% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-13 Listed $174,500 NORTHSTARMLS as Distributed by MLS Grid