417 Central Ave SE · Bemidji, MN 56601

$125,900

2 bd · 1.0 ba · 848 sqft · SingleFamily public records · 46 Days on market

Built 1922 5,227 sqft lot

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +3.9/10.0
• 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

Great starter home that has been totally remodeled. Move in ready 2 bed 1 bath home with large fenced in yard. 2 stall garage as well. A must see.

Key facts

• Fenced yard
• Garage for storage
• Move in ready

Tags

• MOVE IN READY
• FENCED YARD
• GARAGE FOR STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Recommended offer: $122k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.6% 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.
• Market conditions: Rents rising fast (+4.0%/yr); 345 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $870 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $68k; list at $126k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,123 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.21% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.21%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $5,882
• Equity at exit: $18,772

10-year hold

• IRR: 14.6%
• Equity multiple: 2.23×
• Total profit: $43,506
• Equity at exit: $10,886

Cash invested: $35,252 (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: 345
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,520 medium
• Mortgage (P&I): −$660
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $388

Break-even live

Break-even rent $1,029

Max offer price $125,900

Occupancy floor 69%

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Lake Shore Dr NE #203 Bemidji, MN	1.0	1.0	900	$1,800	$2.00	43d	1	0.46mi
715 Lake Shore Dr NE #104 Bemidji, MN	1.0	1.0	830	$1,600	$1.93	43d	1	0.46mi
1011 Washington Ave S Unit C-02 Bemidji, MN	3.0	1.0	900	$1,200	$1.33	43d	1	0.50mi

Listing history 11 events

1. 2026-04-27
   status Pending
2. 2026-04-14
   historical Contingent - Subject to Financing
3. 2026-04-09
   price $125,900
4. 2026-03-12
   listed $129,900 Active
5. 2026-02-15
   historical
6. 2026-01-19
   price $131,000
7. 2025-11-14
   listed $136,000 Active
8. 2013-08-20
   soldstatus $68,000
9. 2013-08-16
   soldstatus $68,000 148-char remark

   Show marketing remark (148 chars)

   Great starter home that has been totally remodeled. Move in ready 2 bed 1 bath home with large fenced in yard. 2 stall garage as well. A must see.

10. 2013-06-12
    listed $69,900 148-char remark

    Show marketing remark (148 chars)

    Great starter home that has been totally remodeled. Move in ready 2 bed 1 bath home with large fenced in yard. 2 stall garage as well. A must see.

11. 2013-06-12
    listed $69,900

    Show marketing remark (148 chars)

    Great starter home that has been totally remodeled. Move in ready 2 bed 1 bath home with large fenced in yard. 2 stall garage as well. A must see.

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,307 · $109/mo
• Expected delta: +$103/yr (+$9/mo · 8.6%)

ⓘ 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 6/10 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: $18,245
• − Mortgage interest: −$7,052
• − Property taxes: −$1,204
• − Insurance: −$630
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$3,663
• Taxable income: $2,778
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $3,991/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

+80.1% since first listed

11 events — show timeline

• 2026-04-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $125,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $129,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-19 Price Changed $131,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-14 Listed $136,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-08-20 Sold (Public Records) $68,000 Public Records
• 2013-08-16 Sold (MLS) $68,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-12 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-06-12 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $1,204 · +8.5% YoY. Source: county tax records.