320 W 6th St · Crookston, MN 56716

$24,999

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 35 Days on market

Built 1898

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor& apos; s Dream Opportunity & acirc; & euro; & ldquo; 320 W 6th St, Crookston, MN Unlock the potential of this 3-bedroom, 1-bathroom home located just 3 minutes from Walmart and a quick 5-minute drive to the University of Minnesota Crookston campus. This fixer-upper is the perfect canvas for a handyman or investor ready to showcase their skills and reap the rewards. Key Features: Prime Location: Situated in a thriving town with abundant employment opportunities, including American Crystal Sugar and New Flyer Bus Plant, ensuring a steady demand for housing. Great Investment: Whether you& apos; re looking to flip and profit or create a cash-flowing rental, this p

Key facts

• Built 1898
• Listed 34 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.0% vs local median 4.2% in Crookston — 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 79/100 on livability (#92 in MN, #2,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Crookston Public School District (town): math 46% / reading 49% proficiency, ranked #151 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 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 $173 of loan paydown is wiped out by about $750 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $25k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,249 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 4.08% ✓
• Cap rate: 34.97%
• Cash-on-cash: 102.41%
• DSCR: 5.56
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $134,676
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 Radisson Rd	0.42mi	3/2.0	1,056 (+1%)	12mo	$215,000	$204	64
234 3rd Ave N	0.40mi	2/1.0 (-1)	1,080 (+3%)	9mo	$135,000	$125	63
306 Maple St	0.53mi	2/1.0 (-1)	1,008 (-3%)	5mo	$129,900	$129	60
520 1st Ave NE	0.55mi	3/2.0	1,092 (+5%)	5mo	$189,000	$173	59
114 Nelson St S	0.70mi	3/2.0	1,056 (+1%)	7mo	$42,500	$40	56
1715 Front St	0.62mi	4/2.0 (+1)	1,040 (-0%)	8mo	$179,000	$172	55
510 1st Ave NE	0.53mi	2/1.0 (-1)	983 (-6%)	9mo	$87,000	$89	54
714 Alexander Ave	0.51mi	2/1.0 (-1)	957 (-8%)	6mo	$25,000	$26	52
511 4th Avenue Northeast Ave	0.64mi	4/2.0 (+1)	1,092 (+5%)	16mo	$234,900	$215	40

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: —
• Equity multiple: 5.86×
• Total profit: $34,033
• Equity at exit: $3,727

10-year hold

• IRR: —
• Equity multiple: 12.25×
• Total profit: $78,777
• Equity at exit: $2,161

Cash invested: $7,000 (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 56716

• Home prices YoY: -22.0%
• Active inventory: 51
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,019 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $597

Break-even live

Break-even rent $263

Max offer price $24,999

Occupancy floor 36%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $24,999 Active 35 DOM
2. 2026-06-18
   days on market $24,999 Active 34 DOM
3. 2026-06-17
   days on market $24,999 Active 33 DOM
4. 2026-06-16
   days on market $24,999 Active 32 DOM
5. 2026-06-15
   days on market $24,999 Active 31 DOM
6. 2026-06-14
   days on market $24,999 Active 29 DOM
7. 2026-06-13
   days on market $24,999 Active 28 DOM
8. 2026-06-10
   days on market $24,999 Active 26 DOM
9. 2026-06-09
   days on market $24,999 Active 25 DOM
10. 2026-06-08
    days on market $24,999 Active 24 DOM
11. 2026-06-07
    days on market $24,999 Active 23 DOM
12. 2026-06-05
    days on market $24,999 Active 20 DOM
13. 2026-06-03
    days on market $24,999 Active 19 DOM
14. 2026-06-02
    days on market $24,999 Active 18 DOM
15. 2026-06-01
    days on market $24,999 Active 17 DOM
16. 2026-05-31
    days on market $24,999 Active 16 DOM
17. 2026-05-30
    days on market $24,999 Active 15 DOM
18. 2026-05-16
    listed $24,999 Active 1425-char remark
19. 1996-10-03
    soldstatus $12,300

ⓘ 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: $798 · $66/mo
• Projected year-2 tax: $798 · $66/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 7/10 Severe 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $12,233
• − Mortgage interest: −$1,400
• − Property taxes: −$798
• − Insurance: −$125
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$727
• Taxable income: $7,226
• Est. tax owed @ 24.0%: −$1,734
• After-tax cash flow: $5,434/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: Crookston Public School District
• NCES district ID: 2709720
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $49,756
• Composite: 40.68/100
• National rank: #3671
• State rank: #151 of 301 in MN

Livability — Crookston

• Score: 79/100
• State rank: #92
• US rank: #2097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crookston, MN
• Population (ZIP): 8,991

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 28% Lithuanian 8% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -62.06%
• Current HPI: 219.5106
• 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

+103.2% since first listed

2 events — show timeline

• 2026-05-16 Listed $24,999 FSBO.com
• 1996-10-03 Sold (Public Records) $12,300 Public Records

Property tax history

-2.2%/yr

Latest (2026): $798 · -33.4% YoY. Source: county tax records.