1320 Bemidji Ave N · Bemidji, MN 56601

$225,000

4 bd · 3.0 ba · 1,996 sqft · SingleFamily public records · 188 Days on market

Built 1951 6,969 sqft lot $113/sqft · 88% below area

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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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

Key facts

• Two-story home
• Main floor bedroom
• 6,969 sq ft lot

Tags

• TWO-STORY HOME
• MAIN FLOOR BEDROOM
• FOUR-SEASON BREEZEWAY
• SECLUDED FENCED-IN BACKYARD
• WALKING DISTANCE TO PARKS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $14 ($168/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 $199k (11.7% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 4.3% in Bemidji — 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 (#252 in MN) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bemidji Public School District (rural): math 42% / reading 50% proficiency, ranked #173 of 301 in MN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Paul Bunyan Center (96 students, 64% FRL); Bemidji Middle (math 37% / reading 46%, grade F, #138 of 258 statewide, top 55%, 1,013 students, 48% FRL); Bemidji Senior High (math 47% / reading 67%, grade C, #64 of 471 statewide, top 16%, 1,432 students, 38% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $60k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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 1951 — 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. 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (median comp): $1,910,047
• List price: $225,000
• Delta: -88.22%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-33,480
• Equity at exit: $33,548

10-year hold

• IRR: -4.4%
• Equity multiple: 0.69×
• Total profit: $-19,259
• Equity at exit: $19,454

Cash invested: $63,000 (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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 346
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,986 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $14

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 94%

Sensitivity live

Price	-10% $169	-5% $92	+0% $14	+5% $-64	+10% $-142
Rent	-10% $-143	-5% $-64	+0% $14	+5% $92	+10% $171
Rate	-1.0pp $127	-0.5pp $71	base $14	+0.5pp $-44	+1.0pp $-104

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Bixby Ave NE Bemidji, MN	4.0	2.0	1264	$1,750	$1.38	46d	1	0.12mi

Listing history 30 events

1. 2026-06-22
   days on market $225,000 Active 188 DOM
2. 2026-06-21
   days on market $225,000 Active 187 DOM
3. 2026-06-19
   pricedays on market $225,000 Active 185 DOM
4. 2026-06-18
   days on market $269,500 Active 184 DOM
5. 2026-06-17
   days on market $269,500 Active 183 DOM
6. 2026-06-16
   days on market $269,500 Active 182 DOM
7. 2026-06-15
   days on market $269,500 Active 181 DOM
8. 2026-06-14
   days on market $269,500 Active 179 DOM
9. 2026-06-12
   days on market $269,500 Active 178 DOM
10. 2026-06-09
    days on market $269,500 Active 175 DOM
11. 2026-06-08
    days on market $269,500 Active 174 DOM
12. 2026-06-07
    days on market $269,500 Active 173 DOM
13. 2026-06-05
    days on market $269,500 Active 170 DOM
14. 2026-06-02
    days on market $269,500 Active 168 DOM
15. 2026-06-01
    days on market $269,500 Active 167 DOM
16. 2026-05-31
    days on market $269,500 Active 166 DOM
17. 2026-05-30
    days on market $269,500 Active 165 DOM
18. 2024-12-04
    status Pending 633-char remark

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

19. 2024-12-03
    soldstatus $255,000 Sold 633-char remark

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

20. 2024-12-03
    soldstatus $255,000

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

21. 2024-08-11
    historical Contingent - Inspection 633-char remark

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

22. 2024-07-15
    price $269,900 633-char remark

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

23. 2024-07-01
    listed $284,900 Active 633-char remark

    Show marketing remark (633 chars)

    This location is nothing short of perfect!! Centrally located in Bemidji MN is this 4 bedroom 3 bathroom within a few blocks of Bemidji State University and minutes from a variety of restaurants, shopping, lakes, parks and more! The property boasts an attached garage, fenced in backyard, and a large 4 season breezeway/entry, vinyl siding, and a great flowing floor plan. They floor plan of this home boasts 2 primary bedrooms, one on the lower level, main floor and 2 bedrooms and a full bathroom on the upper level. There is a current long term rental license in place with an opportunity to do short term rental pending approval.

24. 2022-05-31
    soldstatus $218,250 Sold 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

25. 2022-04-18
    status Pending 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

26. 2022-04-15
    price $219,900 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

27. 2022-04-12
    status Active 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

28. 2022-04-01
    status Pending 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

29. 2022-03-29
    listed $229,900 Active 102-char remark

    Show marketing remark (102 chars)

    Wonderful 4 bedroom 3 bath home on a corner lot. Has fabulous updates, fenced in back yard and garage.

30. 2015-05-15
    soldstatus $124,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $23,832
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$6,545
• Taxable loss: −$3,630
• Est. tax savings @ 24.0%: +$871
• After-tax cash flow: $1,039/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: Bemidji Public School District
• NCES district ID: 2704440
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $47,735
• Composite: 39.22/100
• National rank: #4013
• State rank: #173 of 301 in MN

Livability — Bemidji

• Score: 73/100
• State rank: #252
• US rank: #5416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bemidji, MN
• County: Beltrami County · 34,784 people
• City population: 34,784
• Metro: Bemidji, MN
• Population (ZIP): 34,784
• Household income: $72,262
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 940.0

Population outlook (Beltrami County) Hauer SSP2

• Today (2025): 46,437 people
• By 2030: 46,736 · +0.6%
• By 2040: 46,804 · +0.8%
• By 2050: 46,299 · -0.3%
• By 2075: 44,037 · -5.2%
• By 2100: 38,567 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Native American 8% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Beltrami

• 2024 margin: Lean R (+5.7) · D 46.3% · R 52.0% · Other 1.7%
• 2008→2024 swing: -15.8pp toward R · 2008: 10.2pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.1 2016: R+9.8 2012: D+9.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.95%
• Current HPI: 261.5734
• Rent YoY: ▲ 4.02%
• Metro: Bemidji, 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

+105.6% since first listed

13 events — show timeline

• 2024-12-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-03 Sold (Public Records) $255,000 Public Records
• 2024-12-03 Sold (MLS) $255,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-11 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-15 Price Changed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-01 Listed $284,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-31 Sold (MLS) $218,250 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-15 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-12 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2022-04-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-03-29 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-05-15 Sold (Public Records) $124,000 Public Records

Property tax history

-15.4%/yr

Latest (2025): $186 · -92.4% YoY. Source: county tax records.