114 E Maple Ave · Frazee, MN 56544

$109,900

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 80 Days on market

Built 1910 6,969 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 +14.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

Key facts

• 6,969 sq ft lot
• Built 1910
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $17 ($205/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 $96k (12.7% below list).
• Recommended offer: $96k (12.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#135 in MN, #3,013 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Frazee-Vergas Public School District (rural): math 39% / 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: 74 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $1.09M (91%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $110k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,937 (12.7% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 13% 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: 0.87% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.98×
• Total profit: $60,948
• Equity at exit: $99,007

10-year hold

• IRR: 21.9%
• Equity multiple: 6.80×
• Total profit: $178,629
• Equity at exit: $213,512

Cash invested: $30,772 (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 56544

• Home prices YoY: 7.4%
• Active inventory: 74
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$119 /mo · $1,424/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $17

Break-even live

Break-even rent $938

Max offer price $109,900

Occupancy floor 93%

Sensitivity live

Price	-10% $79	-5% $48	+0% $17	+5% $-14	+10% $-45
Rent	-10% $-59	-5% $-21	+0% $17	+5% $55	+10% $93
Rate	-1.0pp $72	-0.5pp $45	base $17	+0.5pp $-11	+1.0pp $-40

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

2. 2026-05-01
   status Active 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

3. 2026-03-30
   status Pending 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

4. 2026-03-21
   price $109,900 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

5. 2026-02-18
   price $114,900 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

6. 2026-01-13
   price $119,900 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

7. 2026-01-13
   listed $1,199,000 Active 311-char remark

   Show marketing remark (311 chars)

   Nestled in the heart of Frazee, this home offers 2 Bedrooms and 1 Bathroom. The main level hosts the main bedroom, spacious living room, kitchen, spacious dining room and updated bathroom. Upstairs hosts the second bedroom. Enjoy the great location, close to downtown. Motivated seller! Agent related to seller.

8. 2013-07-25
   soldstatus $67,500

ⓘ 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: $1,424 · $119/mo
• Projected year-2 tax: $1,424 · $119/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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,512
• − Mortgage interest: −$6,156
• − Property taxes: −$1,424
• − Insurance: −$550
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$3,197
• Taxable loss: −$1,656
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $603/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: Frazee-Vergas Public School District
• NCES district ID: 2712360
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 47% ▼ -15.00%
• Median HH income: $50,634
• Composite: 37.01/100
• National rank: #4521
• State rank: #196 of 301 in MN

Livability — Frazee

• Score: 77/100
• State rank: #135
• US rank: #3013

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frazee, MN
• Population (ZIP): 5,609

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Black 3% Hispanic / Latino 2% Native American 2%
• Common ancestry: Portuguese 14% Lithuanian 4% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.76%
• Current HPI: 270.91
• 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

+62.8% since first listed

8 events — show timeline

• 2026-05-05 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-13 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-13 Listed $1,199,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-25 Sold (Public Records) $67,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,424 · -5.6% YoY. Source: county tax records.