425 6th Ave W · Floodwood, MN 55736

$134,900

4 bd · 3.0 ba · 2,128 sqft · SingleFamily · 18 Days on market

Built 2002 6,098 sqft lot $63/sqft · 23% below area Est $176k · 23% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• Appreciation +8.2/10.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Over 2,100 sq ft of one-level living at an affordable price point! This spacious 4 bedroom, 3 bathroom home offers a layout that gives everyone room to spread out, featuring both a living room and separate family room plus a dedicated office/den perfect for working from home, hobbies, or extra flex space. The private primary suite is thoughtfully separated from the additional bedrooms, while the open-concept main living area makes everyday living and entertaining easy. You’ll appreciate the low-maintenance yard and convenient location along the corridor between Grand Rapids and Duluth. If you’ve been searching for space, functionality, and value all in one package—this is

Key facts

• 6,098 sq ft lot
• Garage
• Built 2002

Property features AI

Finance

• Financial info: Conventional financing noted

Exterior

• Parking: 1-car garage (approx. 18 x 22)
• Utilities: City water (connected); City sewer (connected); Natural gas; 100 amp electric service
• Home design: Residential property; Single-story (one level); Manufactured home
• Construction: Slab foundation; Foundation area about 2,128; Above-grade living area about 2,128
• Exterior features: Vinyl exterior; Paved street frontage; Publicly maintained road access; Lot roughly 50 x 125 (0.14 acres)

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Gas water heater
• Bedrooms: 4 bedrooms (all on the main level)
• Bathrooms: 3 full bathrooms (includes a main floor full bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open kitchen/dining layout; Crawl space basement
• Laundry & utility: Main-level laundry room (in hall)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#502 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Floodwood Public School District (rural): math 40% / reading 50% proficiency, ranked #334 of 467 in MN (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($933 loan paydown + $9k appreciation (6.5% local appreciation)).
• At projected returns (6.5% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $132,876 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.06% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (median comp): $176,175
• List price: $134,900
• Delta: -23.43%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11867 Floodwood Rd	0.35mi	4/2.0	1,850 (-13%)	5mo	$300,000	$162	54
103 E Railroad St	0.43mi	3/2.0 (-1)	1,844 (-13%)	13mo	$179,000	$97	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.44×
• Total profit: $54,400
• Equity at exit: $88,666

10-year hold

• IRR: 20.1%
• Equity multiple: 4.97×
• Total profit: $149,979
• Equity at exit: $164,237

Cash invested: $37,772 (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 55736

• Home prices YoY: 3.0%
• Active inventory: 23
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$181 /mo · $2,172/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $185

Break-even live

Break-even rent $1,196

Max offer price $134,900

Occupancy floor 82%

Sensitivity live

Price	-10% $262	-5% $223	+0% $185	+5% $147	+10% $109
Rent	-10% $72	-5% $129	+0% $185	+5% $242	+10% $298
Rate	-1.0pp $253	-0.5pp $219	base $185	+0.5pp $150	+1.0pp $115

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-15
   price $144,900 738-char remark
2. 2026-05-10
   listed $149,900 Active 738-char remark
3. 2026-05-06
   historical $149,900 738-char remark
4. 2024-08-22
   price $134,900
5. 2024-08-22
   price $134,900
6. 2024-08-15
   listed $139,900 Active
7. 2024-08-13
   historical
8. 2021-12-06
   soldstatus $129,000
9. 2021-11-29
   soldstatus $129,000 Sold
10. 2021-11-29
    soldstatus $129,000
11. 2021-10-25
    status Pending
12. 2021-10-22
    listed $124,900 Active
13. 2021-10-22
    listed $124,900

ⓘ 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: $2,172 · $181/mo
• Projected year-2 tax: $2,172 · $181/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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,161
• − Mortgage interest: −$7,556
• − Property taxes: −$2,172
• − Insurance: −$674
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$3,924
• Taxable income: $88
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $2,201/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: Floodwood Public School District
• NCES district ID: 2712210
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $38,487
• Composite: 39.74/100
• National rank: #7994
• State rank: #334 of 467 in MN

Livability — Floodwood

• Score: 66/100
• State rank: #502
• US rank: #12027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Floodwood, MN
• Population (ZIP): 1,326

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3%
• Common ancestry: Portuguese 9% Romanian 8% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.45%
• Current HPI: 222.9135
• 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

+8.0% since first listed

15 events — show timeline

• 2026-05-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-21 Price Changed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-10 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-22 Price Changed $134,900 RAOR
• 2024-08-22 Price Changed $134,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-15 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-13 Coming Soon — NORTHSTARMLS as Distributed by MLS Grid
• 2021-12-06 Sold (Public Records) $129,000 Public Records
• 2021-11-29 Sold (MLS) $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-11-29 Sold (MLS) $129,000 LSAR
• 2021-10-25 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-10-22 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2021-10-22 Listed $124,900 LSAR

Property tax history

+5.6%/yr

Latest (2026): $2,172 · +33.1% YoY. Source: county tax records.