108 Bawden St · Greenway, MN 55764

$139,900

2 bd · 1.0 ba · 1,078 sqft · SingleFamily public records · 22 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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Appreciation +5.2/10.0
• 1% rule +4.8/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great two-bedroom one bath rambler with metal siding. Updated bath and kitchen, nice sized bedrooms and possibility for a 3rd bedroom that is currently used as main floor laundry. 24 x 28 two stall detached garage. Newer shingles in 2009 updated electric service box to be installed.

Key facts

• Newer shingles
• Updated bath
• Metal siding

Tags

• METAL SIDING
• UPDATED BATH
• UPDATED KITCHEN
• DETACHED GARAGE
• NEWER SHINGLES
• UPDATED ELECTRIC SERVICE BOX

Property features AI

Exterior

• Parking: Detached or attached 2-car garage (672 sf garage)
• Utilities: City water connected; City sewer connected; Natural gas fuel; 100 amp electric service (Minnesota Power)
• Home design: Residential property, one story; Main entry and living areas on main level; Living room (12.9x21), Dining room (9x11.5), Office (9x13.5)
• Construction: Frame construction; Block foundation; Asphalt roof (8 years old or newer); Built with approx. 1,114 sq ft finished above grade and 1,078 below-grade foundation area
• Exterior features: Light tree coverage; Metal exterior

Interior

• Kitchen: Kitchen on main level (11.6x10); Range, Refrigerator, Freezer
• Bedrooms: Two bedrooms on the main level (10x13; 10x12)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Hot water heat; No central air
• Interior features: Main floor primary bedroom; Main floor laundry; Informal dining room; Freezer, Range, Refrigerator
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $137k (2.4% below list).
• Recommended offer: $137k (2.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Greenway Public School District (rural): math 40% / 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: 2 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($967 loan paydown + $470 appreciation (0.3% local appreciation)).
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 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 $55k; list at $140k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,508 (2.4% 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. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.31×
• Total profit: $11,951
• Equity at exit: $42,991

10-year hold

• IRR: 11.1%
• Equity multiple: 2.25×
• Total profit: $48,979
• Equity at exit: $53,607

Cash invested: $39,172 (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 55764

• Home prices YoY: 0.3%
• Active inventory: 2
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,365 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $218

Break-even live

Break-even rent $1,090

Max offer price $139,900

Occupancy floor 79%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $139,900 Active 22 DOM
2. 2026-06-17
   days on market $139,900 Active 21 DOM
3. 2026-06-16
   days on market $139,900 Active 20 DOM
4. 2026-06-16
   price $139,900 Active 19 DOM
5. 2026-06-15
   days on market $144,900 Active 19 DOM
6. 2026-06-13
   days on market $144,900 Active 17 DOM
7. 2026-06-12
   days on market $144,900 Active 16 DOM
8. 2026-06-09
   days on market $144,900 Active 13 DOM
9. 2026-06-08
   days on market $144,900 Active 12 DOM
10. 2026-06-07
    days on market $144,900 Active 11 DOM
11. 2026-06-07
    days on market $144,900 Active 10 DOM
12. 2026-06-04
    days on market $144,900 Active 7 DOM
13. 2026-06-02
    days on market $144,900 Active 6 DOM
14. 2026-06-01
    days on market $144,900 Active 5 DOM
15. 2026-05-31
    days on market $144,900 Active 4 DOM
16. 2026-05-31
    days on market $144,900 Active 3 DOM
17. 2026-05-27
    listed $144,900 Active
18. 2013-07-18
    soldstatus $55,000
19. 2013-07-17
    listed $58,000

ⓘ 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: $826 · $69/mo
• Projected year-2 tax: $1,196 · $100/mo
• Expected delta: +$370/yr (+$31/mo · 44.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,381
• − Mortgage interest: −$7,837
• − Property taxes: −$826
• − Insurance: −$700
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$4,070
• Taxable income: $328
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $2,533/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: Greenway Public School District
• NCES district ID: 2709480
• Math proficiency: 40% ▼ -10.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $46,178
• Composite: 37.01/100
• National rank: #4520
• State rank: #196 of 301 in MN

Livability — Greenway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Marble, MN
• Population (ZIP): 504

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 3% Asian 3% Black 2% Native American 2%
• Common ancestry: Portuguese 7% Italian 3% Scottish 2%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.34%
• Current HPI: 114.6301
• 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

+149.8% since first listed

3 events — show timeline

• 2026-05-27 Listed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-18 Sold (MLS) $55,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-17 Listed $58,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2026): $826 · +26.3% YoY. Source: county tax records.