1320 Lori Ave · Detroit Lakes, MN 56501

$329,500

3 bd · 2.0 ba · 1,928 sqft · SingleFamily public records · 37 Days on market

Built 1989 10,454 sqft lot

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Why this score? — see what drove the D 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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and thoughtfully updated, this 6-bedroom, 3-bath home offers 2,888 square feet of comfortable living in a location that’s hard to beat—just minutes from schools, parks, and everyday amenities. The main level features 1,444 square feet and now showcases brand-new flooring and new windows installed in 2026, bringing a fresh, modern feel and added efficiency. From the curb, you’ll appreciate the fresh exterior paint and cedar shutters that give the home a warm, welcoming presence. Inside, the home has been freshly painted and updated with new 6-panel doors, creating a clean, cohesive look throughout. The layout is both functional and flexible, with plenty of space fo

Key facts

• New front entry door
• New flooring
• New 6-panel doors

Tags

• NEW FLOORING
• NEW WINDOWS
• FRESH EXTERIOR PAINT
• CEDAR SHUTTERS
• NEW 6-PANEL DOORS
• NEW FRONT ENTRY DOOR

Property features AI

Finance

• Other: Property type: Residential; Above and below grade finished areas are equal (main level finished area noted); Public maintained road

Exterior

• Parking: Attached garage; 2-car garage; Concrete driveway/garage surface
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric with circuit breakers
• Home design: Residential property; One level living (with finished lower level); Main-level entry; Irregular lot; Located on city street cul-de-sac/no outlet with paved streets, street lights and storm sewer
• Construction: Frame construction; Asphalt roof (age over 8 years); Wood foundation (foundation area listed)
• Exterior features: Patio; Chain link full fencing; Other exterior features

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Stainless steel appliances; Exhaust fan; Gas water heater
• Bedrooms: 6 bedrooms (primary on main level; multiple bedrooms on lower level); 3 bedrooms on one level
• Flooring: Finished basement (wood mentioned for basement)
• Bathrooms: 2 full bathrooms; 1 three-quarter bathroom; Primary bathroom on main level; Main floor full bath; 3/4 bath in basement; Private primary bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Eat-in kitchen; Kitchen center island; Kitchen window; Main floor primary bedroom; Paneled doors; Patio; Washer/Dryer hookup; Water softener (owned)
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Laundry room (main and lower level access noted)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/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 $284k (13.8% below list).
• Recommended offer: $284k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.2% in Detroit Lakes — 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 80/100 on livability (#78 in MN, #1,847 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Detroit Lakes Public School District (town): math 44% / reading 50% proficiency, ranked #155 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 307 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $182k; list at $330k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $283,978 (13.8% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.02%
• DSCR: 1.09
• GRM: 9.7

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-43,571
• Equity at exit: $49,130

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-25,497
• Equity at exit: $28,489

Cash invested: $92,260 (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 56501

• Active inventory: 307
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,840 medium
• Mortgage (P&I): −$1,728
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $155

Break-even live

Break-even rent $2,643

Max offer price $329,500

Occupancy floor 90%

Sensitivity live

Price	-10% $342	-5% $249	+0% $155	+5% $62	+10% $-31
Rent	-10% $-69	-5% $43	+0% $155	+5% $268	+10% $380
Rate	-1.0pp $321	-0.5pp $239	base $155	+0.5pp $70	+1.0pp $-17

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: $82,375
• Closing costs: $9,885
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   pricedays on market $329,500 Active 37 DOM
2. 2026-06-18
   days on market $339,500 Active 35 DOM
3. 2026-06-17
   days on market $339,500 Active 34 DOM
4. 2026-06-16
   days on market $339,500 Active 33 DOM
5. 2026-06-15
   days on market $339,500 Active 32 DOM
6. 2026-06-13
   days on market $339,500 Active 30 DOM
7. 2026-06-12
   days on market $339,500 Active 29 DOM
8. 2026-06-09
   days on market $339,500 Active 26 DOM
9. 2026-06-08
   days on market $339,500 Active 25 DOM
10. 2026-06-07
    days on market $339,500 Active 24 DOM
11. 2026-06-07
    days on market $339,500 Active 23 DOM
12. 2026-06-04
    days on market $339,500 Active 20 DOM
13. 2026-06-02
    days on market $339,500 Active 19 DOM
14. 2026-06-01
    days on market $339,500 Active 18 DOM
15. 2026-05-31
    days on market $339,500 Active 17 DOM
16. 2026-05-31
    days on market $339,500 Active 16 DOM
17. 2026-05-14
    listed $339,500 Active 1407-char remark
18. 2025-12-01
    historical
19. 2025-09-04
    price $339,500
20. 2025-07-18
    price $344,500
21. 2025-06-18
    price $349,000
22. 2025-06-04
    price $354,900
23. 2025-05-05
    listed $364,900 Active
24. 2020-01-01
    historical
25. 2019-07-01
    listed $224,900
26. 2015-12-02
    soldstatus $182,000
27. 2005-02-24
    soldstatus $135,000
28. 2000-12-29
    soldstatus $117,500

ⓘ 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: $2,674 · $223/mo
• Projected year-2 tax: $3,182 · $265/mo
• Expected delta: +$508/yr (+$42/mo · 19.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,077
• − Mortgage interest: −$18,457
• − Property taxes: −$2,674
• − Insurance: −$1,648
• − Repairs & maintenance: −$2,726
• − Management: −$2,726
• − Depreciation: −$9,585
• Taxable loss: −$3,739
• Est. tax savings @ 24.0%: +$897
• After-tax cash flow: $2,762/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: Detroit Lakes Public School District
• NCES district ID: 2710230
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $50,571
• Composite: 40.33/100
• National rank: #3746
• State rank: #155 of 301 in MN

Livability — Detroit Lakes

• Score: 80/100
• State rank: #78
• US rank: #1847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit Lakes, MN
• City population: 18,239
• Population (ZIP): 18,239

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Native American 2%
• Common ancestry: Portuguese 25% Scottish 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.40%
• Current HPI: 217.4973
• 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

+188.9% since first listed

12 events — show timeline

• 2026-05-14 Listed $339,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-04 Price Changed $339,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-18 Price Changed $344,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-18 Price Changed $349,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-04 Price Changed $354,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-05 Listed $364,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-01-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2019-07-01 Listed $224,900 NORTHSTARMLS as Distributed by MLS Grid
• 2015-12-02 Sold (Public Records) $182,000 Public Records
• 2005-02-24 Sold (Public Records) $135,000 Public Records
• 2000-12-29 Sold (Public Records) $117,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,674 · +1.5% YoY. Source: county tax records.