350 3rd Ave · Roosevelt, MN 56673

$46,900

4 bd · 1.0 ba · 1,536 sqft · Other public records · 23 Days on market

Built 1910 0.86 ac lot ↓ 15% since listing

---

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 +7.5/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This property features a 1421 SF 1 3/4 story home with updated exterior and windows in 2015. Updated Electrical panel and gutters in 2023. Large oversized lot in town . 689 acres including apples trees, garden, large asparagus patch and wooded area. In addition there is a 720sf detached garage and storage shed with power. Owner/Agent

Key facts

• Apples trees
• Garden
• Large oversized lot

Tags

• UPDATED EXTERIOR
• UPDATED ELECTRICAL PANEL
• LARGE OVERSIZED LOT
• APPLES TREES
• GARDEN
• LARGE ASPARAGUS PATCH

Property features AI

Finance

• Other: Property listed by Weiss Realty LLC
• Financial info: Conventional financing available

Exterior

• Parking: Detached or attached garage with 1 car capacity; Garage approximately 24 x 30 with a 9 ft wide by 7 ft high door
• Utilities: Well water; Tank sewer with drainage field; Electric service 100 amp; Fuel: Electric and propane
• Home design: Residential property; One and one-half levels; Additional parcels included
• Construction: Frame construction; Asphalt roof; Poured concrete foundation (foundation area ~768; foundation dimensions 24 x 32); Built area totals 2,189
• Exterior features: Vinyl exterior; Deck; Storage shed; Irregular lot with medium tree coverage; Publicly maintained city street frontage

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom (upper level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Separate/formal dining room; Unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $47k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $46k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#554 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, schools D-.
• Warroad Public School District (rural): math 42% / reading 53% proficiency, ranked #153 of 301 in MN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($324 loan paydown + $2k appreciation (5.0% local appreciation)).
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

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

Recommended offer $46,196 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 3.04% ✓
• Cap rate: 27.18%
• Cash-on-cash: 74.61%
• DSCR: 4.32
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 80.8%
• Equity multiple: 5.78×
• Total profit: $62,718
• Equity at exit: $26,467

10-year hold

• IRR: 78.9%
• Equity multiple: 12.02×
• Total profit: $144,721
• Equity at exit: $45,587

Cash invested: $13,132 (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 56673

• Home prices YoY: 3.5%
• Active inventory: 9
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$246
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $816

Break-even live

Break-even rent $390

Max offer price $46,900

Occupancy floor 38%

Sensitivity live

Price	-10% $843	-5% $830	+0% $816	+5% $803	+10% $790
Rent	-10% $704	-5% $760	+0% $816	+5% $873	+10% $929
Rate	-1.0pp $840	-0.5pp $828	base $816	+0.5pp $804	+1.0pp $792

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: $11,725
• Closing costs: $1,407
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $46,900 Active 23 DOM
2. 2026-06-18
   days on market $46,900 Active 21 DOM
3. 2026-06-17
   days on market $46,900 Active 20 DOM
4. 2026-06-16
   days on market $46,900 Active 19 DOM
5. 2026-06-15
   days on market $46,900 Active 18 DOM
6. 2026-06-13
   days on market $46,900 Active 16 DOM
7. 2026-06-12
   days on market $46,900 Active 15 DOM
8. 2026-06-09
   days on market $46,900 Active 12 DOM
9. 2026-06-08
   days on market $46,900 Active 11 DOM
10. 2026-06-07
    days on market $46,900 Active 10 DOM
11. 2026-06-07
    days on market $46,900 Active 9 DOM
12. 2026-06-04
    days on market $46,900 Active 6 DOM
13. 2026-06-02
    days on market $46,900 Active 5 DOM
14. 2026-06-01
    days on market $46,900 Active 4 DOM
15. 2026-05-31
    days on market $46,900 Active 3 DOM
16. 2026-05-31
    days on market $46,900 Active 2 DOM
17. 2026-05-28
    listed $46,900 Active
18. 2025-01-01
    historical
19. 2024-10-25
    listed $49,900 Active
20. 2024-09-30
    historical
21. 2024-07-07
    price $63,500
22. 2024-06-26
    listed $71,500 Active
23. 2023-07-24
    soldstatus $55,000

ⓘ 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: $512 · $43/mo
• Projected year-2 tax: $519 · $43/mo
• Expected delta: +$7/yr (+$1/mo · 1.3%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $17,083
• − Mortgage interest: −$2,627
• − Property taxes: −$512
• − Insurance: −$234
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$1,364
• Taxable income: $9,612
• Est. tax owed @ 24.0%: −$2,307
• After-tax cash flow: $7,491/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: Warroad Public School District
• NCES district ID: 2741850
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 53% ▼ -14.00%
• Median HH income: $49,106
• Composite: 40.59/100
• National rank: #3697
• State rank: #153 of 301 in MN

Livability — Roosevelt

• Score: 65/100
• State rank: #554
• US rank: #13317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roosevelt, MN
• Population (ZIP): 608

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Portuguese 17% Lithuanian 7% Scottish 5%
• Languages at home: 97% English-only · Russian/Polish/Slavic 3%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.96%
• Current HPI: 146.8293
• 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

-14.7% since first listed

7 events — show timeline

• 2026-05-28 Listed $46,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-25 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-07 Price Changed $63,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-26 Listed $71,500 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-24 Sold (Public Records) $55,000 Public Records

Property tax history

+1.0%/yr

Latest (2026): $512 · -50.9% YoY. Source: county tax records.