109 E 9th St · Morris, MN 56267

$57,500

5 bd · 1.0 ba · 1,140 sqft · SingleFamily · 112 Days on market

Built 1947 7,100 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 109 E 9th St — a classic 5-bedroom 1-bathroom single-family home offering character, space, and potential! Nestled in a friendly neighborhood with easy access to schools, parks, and downtown amenities, this property presents an excellent opportunity for investors or buyers willing to put in some work. Don’t miss your chance to make 109 E 9th St your next home or project! Home has sustained flood damage and is best suited for investors, builders, or buyers seeking a teardown opportunity. No repairs or warranties will be provided by seller.

Key facts

• 7,100 sq ft lot
• Built 1947
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $52k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#296 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Market conditions: 20 active listings in the ZIP; 5 units permitted in Stevens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $398 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Stevens County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,325 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — 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. 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: 1.79% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.57%
• DSCR: 2.45
• GRM: 4.7

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: 27.7%
• Equity multiple: 2.15×
• Total profit: $18,519
• Equity at exit: $8,573

10-year hold

• IRR: 35.2%
• Equity multiple: 4.23×
• Total profit: $51,975
• Equity at exit: $4,972

Cash invested: $16,100 (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 56267

• Active inventory: 20
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$302
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $437

Break-even live

Break-even rent $475

Max offer price $57,500

Occupancy floor 52%

Sensitivity live

Price	-10% $470	-5% $453	+0% $437	+5% $421	+10% $404
Rent	-10% $356	-5% $396	+0% $437	+5% $478	+10% $518
Rate	-1.0pp $466	-0.5pp $452	base $437	+0.5pp $422	+1.0pp $407

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $57,500 Active 112 DOM
2. 2026-06-18
   days on market $57,500 Active 110 DOM
3. 2026-06-17
   days on market $57,500 Active 109 DOM
4. 2026-06-16
   days on market $57,500 Active 108 DOM
5. 2026-06-15
   days on market $57,500 Active 107 DOM
6. 2026-06-13
   days on market $57,500 Active 105 DOM
7. 2026-06-12
   days on market $57,500 Active 104 DOM
8. 2026-06-09
   days on market $57,500 Active 101 DOM
9. 2026-06-08
   days on market $57,500 Active 100 DOM
10. 2026-06-07
    days on market $57,500 Active 99 DOM
11. 2026-06-07
    days on market $57,500 Active 98 DOM
12. 2026-06-04
    days on market $57,500 Active 95 DOM
13. 2026-06-02
    days on market $57,500 Active 94 DOM
14. 2026-06-01
    days on market $57,500 Active 93 DOM
15. 2026-05-31
    days on market $57,500 Active 92 DOM
16. 2026-05-31
    days on market $57,500 Active 91 DOM
17. 2025-12-29
    historical
18. 2025-10-08
    price $61,900
19. 2025-09-29
    price $64,900
20. 2025-09-24
    price $75,400
21. 2025-09-19
    price $79,900
22. 2025-09-15
    listed $84,900 Active
23. 2021-06-07
    soldstatus $59,000

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $621 · $52/mo
• Expected delta: +$23/yr (+$2/mo · 3.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,339
• − Mortgage interest: −$3,221
• − Property taxes: −$598
• − Insurance: −$288
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$1,673
• Taxable income: $4,586
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $4,144/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)

No district data.

Livability — Morris

• Score: 72/100
• State rank: #296
• US rank: #6491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morris, MN
• City population: 6,766
• Population (ZIP): 6,766

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 9,907 people
• By 2030: 9,987 · +0.8%
• By 2040: 10,214 · +3.1%
• By 2050: 10,642 · +7.4%
• By 2075: 12,546 · +26.6%
• By 2100: 14,065 · +42.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 7% Native American 2% Black 2% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 14% Romanian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Asian/Pacific 1%

Political lean MEDSL · Stevens

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.7% · Other 1.6%
• 2008→2024 swing: -28.3pp toward R · 2008: 1.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.1 2016: R+12.8 2012: R+0.4 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.34%
• Current HPI: 180.8749
• 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

+4.9% since first listed

7 events — show timeline

• 2025-12-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-08 Price Changed $61,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $64,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $75,400 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-19 Price Changed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-15 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-07 Sold (Public Records) $59,000 Public Records

Property tax history

-0.8%/yr

Latest (2026): $598 · +3.8% YoY. Source: county tax records.