611 9th St · International Falls, MN 56649

$59,000

2 bd · 1.0 ba · 860 sqft · SingleFamily public records · 155 Days on market

Built 1920 5,244 sqft lot $69/sqft · 27% below area Est $80k · 27% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

Key facts

• Alley entrance
• New flooring
• Heated front porch

Tags

• DETACHED GARAGE
• ALLEY ENTRANCE
• OPEN KITCHEN DINING AREA
• HEATED FRONT PORCH
• SEPARATE LAUNDRY ROOM
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.7% in International Falls — 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 73/100 on livability (#242 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• International Falls School District (town): math 40% / reading 45% proficiency, ranked #211 of 301 in MN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 active listings in the ZIP; 26 units permitted in Koochiching County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Koochiching County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $59k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1920 — 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. Crime grade is F 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?
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: 1.46% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 5.7

CMA / ARV

• ARV (median comp): $80,364
• List price: $59,000
• Delta: -26.58%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1632 3rd Ave	0.59mi	1/1.0 (-1)	917 (+7%)	22mo	$104,000	$113	38

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $7,271
• Equity at exit: $8,797

10-year hold

• IRR: 20.2%
• Equity multiple: 2.70×
• Total profit: $28,053
• Equity at exit: $5,101

Cash invested: $16,520 (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 56649

• Home prices YoY: -22.7%
• Active inventory: 71
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $264

Break-even live

Break-even rent $526

Max offer price $59,000

Occupancy floor 64%

Sensitivity live

Price	-10% $297	-5% $281	+0% $264	+5% $247	+10% $231
Rent	-10% $196	-5% $230	+0% $264	+5% $298	+10% $332
Rate	-1.0pp $294	-0.5pp $279	base $264	+0.5pp $249	+1.0pp $233

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $59,000 Active 155 DOM
2. 2026-06-18
   days on market $59,000 Active 153 DOM
3. 2026-06-17
   price $59,000 Active 152 DOM
4. 2026-06-17
   days on market $63,000 Active 152 DOM
5. 2026-06-16
   days on market $63,000 Active 151 DOM
6. 2026-06-15
   days on market $63,000 Active 150 DOM
7. 2026-06-13
   days on market $63,000 Active 148 DOM
8. 2026-06-12
   days on market $63,000 Active 147 DOM
9. 2026-06-09
   days on market $63,000 Active 144 DOM
10. 2026-06-08
    days on market $63,000 Active 143 DOM
11. 2026-06-07
    days on market $63,000 Active 142 DOM
12. 2026-06-07
    days on market $63,000 Active 141 DOM
13. 2026-06-04
    days on market $63,000 Active 138 DOM
14. 2026-06-02
    days on market $63,000 Active 137 DOM
15. 2026-06-01
    days on market $63,000 Active 136 DOM
16. 2026-05-31
    days on market $63,000 Active 135 DOM
17. 2026-05-31
    days on market $63,000 Active 134 DOM
18. 2026-05-19
    price $63,000 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

19. 2026-04-12
    status Active 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

20. 2026-04-09
    historical Contingent - Inspection 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

21. 2026-02-14
    status Active 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

22. 2026-02-09
    historical Contingent - Inspection 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

23. 2026-01-16
    listed $69,000 Active 582-char remark

    Show marketing remark (582 chars)

    Warm and cozy, 2 bedroom/1 bathroom, 860 sq ft home with a detached 728 sq ft, 2 stall garage with an alley entrance. There is also a 1 car driveway in the front. The house features a large 11x20 living room that faces the 11x15 open kitchen/dining area on the south end, and there is extra space in the heated 7x11 front porch. A separate laundry room is next to the bathroom. All of the flooring is fairly new. The garage has a nice workbench area and could easily be heated. Plus, there is an attached deck next to the kitchen entrance for grilling and entertaining friends.

24. 2014-06-30
    soldstatus $20,000

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $974 · $81/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 ≥91°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: $10,316
• − Mortgage interest: −$3,305
• − Property taxes: −$974
• − Insurance: −$295
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$1,716
• Taxable income: $2,375
• Est. tax owed @ 24.0%: −$570
• After-tax cash flow: $2,598/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: International Falls School District
• NCES district ID: 2715000
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 45% ▼ -18.00%
• Median HH income: $42,926
• Composite: 35.88/100
• National rank: #4813
• State rank: #211 of 301 in MN

Livability — International Falls

• Score: 73/100
• State rank: #242
• US rank: #5197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: International Falls, MN
• Population (ZIP): 8,895

Population outlook (Koochiching County) Hauer SSP2

• Today (2025): 11,977 people
• By 2030: 11,406 · -4.8%
• By 2040: 10,045 · -16.1%
• By 2050: 8,746 · -27.0%
• By 2075: 6,363 · -46.9%
• By 2100: 4,275 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 20% Lithuanian 5% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Koochiching

• 2024 margin: Strong R (+25.7) · D 36.4% · R 62.0% · Other 1.6%
• 2008→2024 swing: -35.8pp toward R · 2008: 10.1pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+21.3 2016: R+20.0 2012: D+9.5 2008: D+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.62%
• Current HPI: 176.118
• 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

+215.0% since first listed

7 events — show timeline

• 2026-05-19 Price Changed $63,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-09 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-16 Listed $69,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-30 Sold (Public Records) $20,000 Public Records

Property tax history

+8.2%/yr

Latest (2026): $974 · +7.7% YoY. Source: county tax records.