1021 S 7th St · Brainerd, MN 56401

$185,000

2 bd · 4.0 ba · 1,344 sqft · SingleFamily public records · 6 Days on market

Built 1980 8,712 sqft lot $138/sqft · 6% above area Est $175k · 6% over

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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).

• Cash flow +11.5/30.0
• ARV discount +4.8/15.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy rambler with low maintainence exterior. Newer hardwood floor in LR, full plus 3/4 baths. Full basement with family room and hobby area. Short walk for milk or bread, nice homes around. Home Inspection to be done 10/28, results to be posted in listing when complete.

Key facts

• Storage shed
• Welcoming backyard
• Spacious family room

Tags

• NATURAL WOOD INTERIORS
• SPACIOUS FAMILY ROOM
• WELCOMING BACKYARD
• BORDERS CITY OWNED LAND
• MATURE TREES
• STORAGE SHED

Property features AI

Finance

• Other: Lot approximately 0.2 acres (about 68 x 130) with paved, city-maintained street frontage

Exterior

• Parking: Attached garage (1-car; approximately 14 x 22)
• Utilities: City water (connected); City sewer (connected); Natural gas; Brainerd Public Utilities
• Home design: Residential property; One level (main level finished plus finished lower level); Main-level entry
• Construction: Block foundation; Asphalt roof (age 8 years or less)
• Exterior features: Stucco exterior; Storage shed

Interior

• Kitchen: Range; Refrigerator; Kitchen window
• Bedrooms: 2 bedrooms (including a main-floor bedroom)
• Bathrooms: One full bathroom on the main floor; One three-quarter bathroom in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Main floor primary bedroom; Eat-in kitchen / kitchen-dining room layout; Finished basement (block foundation)
• Laundry & utility: Washer and dryer included; Laundry on lower level with utility sink

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-60 ($-723/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (25.8% below list).
• Recommended offer: $137k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.1% in Brainerd — 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 72/100 on livability (#272 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Brainerd Public School District (town): math 49% / reading 58% proficiency, ranked #85 of 301 in MN (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 401 active listings in the ZIP; 420 units permitted in Crow Wing County in 2024 (17 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 $6k of value loss. Plan a longer hold.
• Crow Wing County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,193 (25.8% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.74% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 11.2

CMA / ARV

• ARV (median comp): $174,625
• List price: $185,000
• Delta: 5.94%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.6%
• Equity multiple: 0.35×
• Total profit: $-33,877
• Equity at exit: $27,584

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-34,693
• Equity at exit: $15,995

Cash invested: $51,800 (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 56401

• Active inventory: 401
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$97 /mo · $1,162/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-60

Break-even live

Break-even rent $1,448

Max offer price $174,356

Occupancy floor 99%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-07
   status Pending 469-char remark
2. 2026-05-02
   historical Contingent - Inspection 469-char remark
3. 2026-05-01
   listed $185,000 Active 469-char remark
4. 2009-07-20
   historical 270-char remark

   Show marketing remark (270 chars)

   Cozy rambler with low maintainence exterior. Newer hardwood floor in LR, full plus 3/4 baths. Full basement with family room and hobby area. Short walk for milk or bread, nice homes around. Home Inspection to be done 10/28, results to be posted in listing when complete.

5. 2009-07-20
   soldstatus $89,500

   Show marketing remark (270 chars)

   Cozy rambler with low maintainence exterior. Newer hardwood floor in LR, full plus 3/4 baths. Full basement with family room and hobby area. Short walk for milk or bread, nice homes around. Home Inspection to be done 10/28, results to be posted in listing when complete.

6. 2009-07-20
   soldstatus $89,500 270-char remark

   Show marketing remark (270 chars)

   Cozy rambler with low maintainence exterior. Newer hardwood floor in LR, full plus 3/4 baths. Full basement with family room and hobby area. Short walk for milk or bread, nice homes around. Home Inspection to be done 10/28, results to be posted in listing when complete.

7. 2008-10-24
   listed $89,500 270-char remark

   Show marketing remark (270 chars)

   Cozy rambler with low maintainence exterior. Newer hardwood floor in LR, full plus 3/4 baths. Full basement with family room and hobby area. Short walk for milk or bread, nice homes around. Home Inspection to be done 10/28, results to be posted in listing when complete.

ⓘ 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: $1,162 · $97/mo
• Projected year-2 tax: $1,617 · $135/mo
• Expected delta: +$455/yr (+$38/mo · 39.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,463
• − Mortgage interest: −$10,363
• − Property taxes: −$1,162
• − Insurance: −$925
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$5,382
• Taxable loss: −$4,003
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $238/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: Brainerd Public School District
• NCES district ID: 2706090
• Math proficiency: 49% ▼ -13.00%
• Reading proficiency: 58% ▼ -9.00%
• Median HH income: $49,059
• Composite: 45.57/100
• National rank: #2596
• State rank: #85 of 301 in MN

Livability — Brainerd

• Score: 72/100
• State rank: #272
• US rank: #5889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brainerd, MN
• County: Crow Wing County · 40,773 people
• City population: 31,841
• Metro: Brainerd, MN
• Population (ZIP): 31,841
• Household income: $73,128
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 454.0

Population outlook (Crow Wing County) Hauer SSP2

• Today (2025): 64,187 people
• By 2030: 64,057 · -0.2%
• By 2040: 62,470 · -2.7%
• By 2050: 59,064 · -8.0%
• By 2075: 48,738 · -24.1%
• By 2100: 36,112 · -43.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 2% Hispanic / Latino 2% Native American 1%
• Common ancestry: Portuguese 12% Romanian 6% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Crow Wing

• 2024 margin: Solid R (+31.4) · D 33.6% · R 65.0% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: -7.7pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+29.7 2016: R+31.8 2012: R+13.4 2008: R+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.09%
• Current HPI: 220.3299
• Rent YoY: —
• Metro: Brainerd, 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

+117.9% since first listed

8 events — show timeline

• 2026-06-11 Sold (MLS) $195,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $185,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-20 Sold (MLS) $89,500 NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-20 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2009-07-20 Sold (MLS) $89,500 NORTHSTARMLS as Distributed by MLS Grid
• 2008-10-24 Listed $89,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2026): $1,162 · +0.9% YoY. Source: county tax records.