411 6th Ave SW · Perham, MN 56573

$275,000

3 bd · 3.0 ba · 2,384 sqft · SingleFamily public records · 69 Days on market

Built 1980 10,497 sqft 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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 3-bedroom home situated on a desirable corner lot in Perham, MN. This property offers a functional layout with comfortable living spaces. Enjoy the convenience of being located close to local schools, parks, and the hospital, providing easy access to everyday essentials and community amenities. The corner lot offers added space, privacy, and curb appeal. This home is move-in ready and presents a great opportunity to own in a sought-after area of Perham.

Key facts

• Close to parks
• Close to hospital
• Move in ready

Tags

• CORNER LOT
• CLOSE TO LOCAL SCHOOLS
• CLOSE TO PARKS
• CLOSE TO HOSPITAL
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 6.0% in Perham — 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 70/100 on livability (#328 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Recommended offer $258,499 (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: 1.14% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.40%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-6,139
• Equity at exit: $41,003

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $44,202
• Equity at exit: $23,777

Cash invested: $77,000 (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 56573

• Home prices YoY: -15.8%
• Active inventory: 92
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,125 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$309 /mo · $3,710/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $603

Break-even live

Break-even rent $2,362

Max offer price $275,000

Occupancy floor 76%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 7th St SW Unit A Perham, MN	3.0	2.0	1602	$3,750	$2.34	43d	1	0.35mi
812 7th St SW Unit B Perham, MN	3.0	2.0	1602	$2,500	$1.56	43d	1	0.35mi

Listing history 22 events

1. 2026-06-18
   days on market $275,000 Active 69 DOM
2. 2026-06-17
   days on market $275,000 Active 68 DOM
3. 2026-06-16
   days on market $275,000 Active 67 DOM
4. 2026-06-15
   days on market $275,000 Active 66 DOM
5. 2026-06-13
   days on market $275,000 Active 64 DOM
6. 2026-06-12
   days on market $275,000 Active 63 DOM
7. 2026-06-09
   days on market $275,000 Active 60 DOM
8. 2026-06-08
   days on market $275,000 Active 59 DOM
9. 2026-06-07
   days on market $275,000 Active 58 DOM
10. 2026-06-07
    days on market $275,000 Active 57 DOM
11. 2026-06-04
    days on market $275,000 Active 54 DOM
12. 2026-06-02
    days on market $275,000 Active 53 DOM
13. 2026-06-01
    days on market $275,000 Active 52 DOM
14. 2026-05-31
    days on market $275,000 Active 51 DOM
15. 2026-05-31
    days on market $275,000 Active 50 DOM
16. 2026-04-10
    listed $275,000 Active 491-char remark

    Show marketing remark (491 chars)

    Welcome to this well-maintained 3-bedroom home situated on a desirable corner lot in Perham, MN. This property offers a functional layout with comfortable living spaces. Enjoy the convenience of being located close to local schools, parks, and the hospital, providing easy access to everyday essentials and community amenities. The corner lot offers added space, privacy, and curb appeal. This home is move-in ready and presents a great opportunity to own in a sought-after area of Perham.

17. 2022-05-06
    soldstatus $255,000 Sold 796-char remark

    Show marketing remark (796 chars)

    PERHAM CITY CHARMER! Spacious, light-filled 3 bed / 3 bath home features beautiful warm, classic oak woodwork upstairs. The roomy bedrooms have plentiful closets and storage, and the lower level is perfect for hobbies with its oversized utility/storage area, and a wonderful woodworking space. Featuring both a living and family room, you'll have plenty of space for entertaining or relaxation. The large two-stall garage with extra shelving above the work areas offers more room for all your tools and toys. Enjoy summer days and nights outside with the mature trees and level yard for easy lawn care. This wonderful property takes advantage of being minutes from everything Perham has to offer, including the school, shops, and hospital while offering a peaceful setting in the heart of it all.

18. 2022-03-27
    status Pending 796-char remark

    Show marketing remark (796 chars)

    PERHAM CITY CHARMER! Spacious, light-filled 3 bed / 3 bath home features beautiful warm, classic oak woodwork upstairs. The roomy bedrooms have plentiful closets and storage, and the lower level is perfect for hobbies with its oversized utility/storage area, and a wonderful woodworking space. Featuring both a living and family room, you'll have plenty of space for entertaining or relaxation. The large two-stall garage with extra shelving above the work areas offers more room for all your tools and toys. Enjoy summer days and nights outside with the mature trees and level yard for easy lawn care. This wonderful property takes advantage of being minutes from everything Perham has to offer, including the school, shops, and hospital while offering a peaceful setting in the heart of it all.

19. 2022-03-22
    price $249,900 796-char remark

    Show marketing remark (796 chars)

    PERHAM CITY CHARMER! Spacious, light-filled 3 bed / 3 bath home features beautiful warm, classic oak woodwork upstairs. The roomy bedrooms have plentiful closets and storage, and the lower level is perfect for hobbies with its oversized utility/storage area, and a wonderful woodworking space. Featuring both a living and family room, you'll have plenty of space for entertaining or relaxation. The large two-stall garage with extra shelving above the work areas offers more room for all your tools and toys. Enjoy summer days and nights outside with the mature trees and level yard for easy lawn care. This wonderful property takes advantage of being minutes from everything Perham has to offer, including the school, shops, and hospital while offering a peaceful setting in the heart of it all.

20. 2022-03-08
    listed $269,900 Active 796-char remark

    Show marketing remark (796 chars)

    PERHAM CITY CHARMER! Spacious, light-filled 3 bed / 3 bath home features beautiful warm, classic oak woodwork upstairs. The roomy bedrooms have plentiful closets and storage, and the lower level is perfect for hobbies with its oversized utility/storage area, and a wonderful woodworking space. Featuring both a living and family room, you'll have plenty of space for entertaining or relaxation. The large two-stall garage with extra shelving above the work areas offers more room for all your tools and toys. Enjoy summer days and nights outside with the mature trees and level yard for easy lawn care. This wonderful property takes advantage of being minutes from everything Perham has to offer, including the school, shops, and hospital while offering a peaceful setting in the heart of it all.

21. 2015-04-22
    soldstatus $138,000
22. 1995-12-18
    soldstatus $73,500

ⓘ 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: $3,710 · $309/mo
• Projected year-2 tax: $3,710 · $309/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,500
• − Mortgage interest: −$15,404
• − Property taxes: −$3,710
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$8,000
• Taxable income: $3,011
• Est. tax owed @ 24.0%: −$723
• After-tax cash flow: $6,512/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: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Perham

• Score: 70/100
• State rank: #328
• US rank: #7425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perham, MN
• Population (ZIP): 6,868

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.48%
• Current HPI: 225.7071
• 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

+274.1% since first listed

7 events — show timeline

• 2026-04-10 Listed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-06 Sold (MLS) $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-22 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-08 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-22 Sold (Public Records) $138,000 Public Records
• 1995-12-18 Sold (Public Records) $73,500 Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,710 · +0.3% YoY. Source: county tax records.