913 Gary St · Greenway, MN 55716

$80,000

3 bd · 2.0 ba · 2,550 sqft · SingleFamily public records · 142 Days on market

Built 1910 0.28 ac lot ↓ 14% since listing

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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
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is a unique property with lots of charm, located on a large corner lot that is mostly fenced. the commercial space has hardwood floors, high ceilings with tin and crown molding, plus a large attached cold storage of approximately 1,500 sq ft. The current use of the commercial space has been as living quarters. Upper level has been used as a 3 bedroom apartment. This is a Rehab/fixer upper project. Personal property and rubbish shall remain.

Key facts

• Large corner lot
• High ceilings
• Hardwood floors

Tags

• LARGE CORNER LOT
• HARDWOOD FLOORS
• HIGH CEILINGS
• TIN AND CROWN MOLDING
• LARGE ATTACHED COLD STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Greenway Public School District (rural): math 40% / reading 47% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($553 loan paydown + $2k appreciation (3.0% local appreciation)).
• Itasca County population projected to shrink 4% 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1910 — 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. 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: 1.60% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.60%
• DSCR: 2.27
• GRM: 5.2

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: 34.5%
• Equity multiple: 2.95×
• Total profit: $43,618
• Equity at exit: $35,971

10-year hold

• IRR: 34.7%
• Equity multiple: 5.80×
• Total profit: $107,593
• Equity at exit: $55,436

Cash invested: $22,400 (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 55716

• Active inventory: 4
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,282 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$26 /mo · $312/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $534

Break-even live

Break-even rent $606

Max offer price $80,000

Occupancy floor 53%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $80,000 Active 142 DOM
2. 2026-06-17
   days on market $80,000 Active 141 DOM
3. 2026-06-16
   days on market $80,000 Active 140 DOM
4. 2026-06-15
   days on market $80,000 Active 139 DOM
5. 2026-06-13
   days on market $80,000 Active 137 DOM
6. 2026-06-12
   days on market $80,000 Active 136 DOM
7. 2026-06-09
   days on market $80,000 Active 133 DOM
8. 2026-06-08
   days on market $80,000 Active 132 DOM
9. 2026-06-07
   days on market $80,000 Active 131 DOM
10. 2026-06-07
    days on market $80,000 Active 130 DOM
11. 2026-06-04
    days on market $80,000 Active 127 DOM
12. 2026-06-02
    days on market $80,000 Active 126 DOM
13. 2026-06-01
    days on market $80,000 Active 125 DOM
14. 2026-05-31
    days on market $80,000 Active 124 DOM
15. 2026-05-31
    days on market $80,000 Active 123 DOM
16. 2026-05-11
    status Active 450-char remark

    Show marketing remark (450 chars)

    This is a unique property with lots of charm, located on a large corner lot that is mostly fenced. the commercial space has hardwood floors, high ceilings with tin and crown molding, plus a large attached cold storage of approximately 1,500 sq ft. The current use of the commercial space has been as living quarters. Upper level has been used as a 3 bedroom apartment. This is a Rehab/fixer upper project. Personal property and rubbish shall remain.

17. 2026-05-11
    price $80,000 450-char remark

    Show marketing remark (450 chars)

    This is a unique property with lots of charm, located on a large corner lot that is mostly fenced. the commercial space has hardwood floors, high ceilings with tin and crown molding, plus a large attached cold storage of approximately 1,500 sq ft. The current use of the commercial space has been as living quarters. Upper level has been used as a 3 bedroom apartment. This is a Rehab/fixer upper project. Personal property and rubbish shall remain.

18. 2026-05-05
    historical 450-char remark

    Show marketing remark (450 chars)

    This is a unique property with lots of charm, located on a large corner lot that is mostly fenced. the commercial space has hardwood floors, high ceilings with tin and crown molding, plus a large attached cold storage of approximately 1,500 sq ft. The current use of the commercial space has been as living quarters. Upper level has been used as a 3 bedroom apartment. This is a Rehab/fixer upper project. Personal property and rubbish shall remain.

19. 2026-01-20
    listed $92,500 Active 450-char remark

    Show marketing remark (450 chars)

    This is a unique property with lots of charm, located on a large corner lot that is mostly fenced. the commercial space has hardwood floors, high ceilings with tin and crown molding, plus a large attached cold storage of approximately 1,500 sq ft. The current use of the commercial space has been as living quarters. Upper level has been used as a 3 bedroom apartment. This is a Rehab/fixer upper project. Personal property and rubbish shall remain.

ⓘ 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: $312 · $26/mo
• Projected year-2 tax: $604 · $50/mo
• Expected delta: +$292/yr (+$24/mo · 93.6%)

ⓘ 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 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,384
• − Mortgage interest: −$4,481
• − Property taxes: −$312
• − Insurance: −$400
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$2,327
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $5,111/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: Greenway Public School District
• NCES district ID: 2709480
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $46,178
• Composite: 37.01/100
• National rank: #4520
• State rank: #196 of 301 in MN

Livability — Greenway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Calumet, MN
• Population (ZIP): 219

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Native American 10% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Portuguese 4% Romanian 1%
• Foreign-born: 1%
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-13.5% since first listed

4 events — show timeline

• 2026-05-11 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Price Changed $80,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-20 Listed $92,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.4%/yr

Latest (2026): $312 · +6.1% YoY. Source: county tax records.