417 1st St SW · Wadena, MN 56482

$95,000

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 35 Days on market

Built 1895 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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home! This beautifully updated property boasts brand new laminate floors, fresh paint throughout, and sleek stainless steel appliances. Enjoy the perfect blend of style and comfort in this inviting space. Don't miss out on this incredible opportunity! Schedule your tour today and make this beautiful home yours!

Key facts

• 6,969 sq ft lot
• Built 1895
• Listed 35 days

Property features AI

Exterior

• Parking: No dedicated parking; No garage or carport
• Utilities: City water; City sewer; Natural gas
• Home design: Residential property; One and one-half story; Block foundation
• Construction: Block foundation
• Exterior features: Stone exterior; Lot approximately 0.16 acres (50 x 140)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom (main floor)
• Heating & cooling: Forced air heating; No central air
• Interior features: Unfinished basement; Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.3% in Wadena — 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 67/100 on livability (#433 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools D+, amenities F.
• Wadena-Deer Creek School District (town): math 33% / reading 45% proficiency, ranked #235 of 301 in MN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 52 units permitted in Wadena County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wadena County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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 $40k; list at $95k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.03% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.1

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-5,327
• Equity at exit: $14,165

10-year hold

• IRR: 4.3%
• Equity multiple: 1.31×
• Total profit: $8,298
• Equity at exit: $8,214

Cash invested: $26,600 (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 56482

• Home prices YoY: -7.6%
• Active inventory: 50
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $158

Break-even live

Break-even rent $781

Max offer price $95,000

Occupancy floor 79%

Sensitivity live

Price	-10% $212	-5% $185	+0% $158	+5% $131	+10% $104
Rent	-10% $81	-5% $119	+0% $158	+5% $197	+10% $236
Rate	-1.0pp $206	-0.5pp $182	base $158	+0.5pp $134	+1.0pp $109

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-21
   days on market $95,000 Active 35 DOM
2. 2026-06-18
   days on market $95,000 Active 33 DOM
3. 2026-06-17
   days on market $95,000 Active 32 DOM
4. 2026-06-16
   days on market $95,000 Active 31 DOM
5. 2026-06-15
   days on market $95,000 Active 30 DOM
6. 2026-06-13
   days on market $95,000 Active 28 DOM
7. 2026-06-12
   days on market $95,000 Active 27 DOM
8. 2026-06-09
   days on market $95,000 Active 24 DOM
9. 2026-06-08
   days on market $95,000 Active 23 DOM
10. 2026-06-07
    days on market $95,000 Active 22 DOM
11. 2026-06-07
    days on market $95,000 Active 21 DOM
12. 2026-06-04
    days on market $95,000 Active 18 DOM
13. 2026-06-02
    days on market $95,000 Active 17 DOM
14. 2026-06-01
    days on market $95,000 Active 16 DOM
15. 2026-05-31
    days on market $95,000 Active 15 DOM
16. 2026-05-31
    days on market $95,000 Active 14 DOM
17. 2026-05-16
    listed $95,000 Active
18. 2025-10-05
    historical
19. 2025-06-03
    price $89,000
20. 2025-05-13
    price $107,500
21. 2025-04-29
    price $117,500
22. 2025-04-04
    listed $119,000 Active
23. 2025-02-23
    historical
24. 2024-12-24
    price $119,900
25. 2024-11-07
    price $95,000
26. 2024-09-22
    listed $109,900 Active
27. 2024-09-07
    historical
28. 2024-09-03
    price $109,900
29. 2024-08-23
    price $119,900
30. 2024-08-13
    price $124,900
31. 2024-07-31
    price $149,500
32. 2024-07-20
    price $159,500
33. 2024-07-03
    price $164,500
34. 2024-06-27
    listed $164,900 Active
35. 2024-03-05
    historical
36. 2024-02-06
    price $54,000
37. 2023-12-04
    price $59,000
38. 2023-09-23
    listed $68,000 Active
39. 2022-11-16
    soldstatus $40,000
40. 2014-05-22
    historical
41. 2014-03-19
    historical
42. 2014-02-26
    listed $39,900 Active
43. 2013-09-24
    listed $39,900
44. 2008-09-03
    listed $32,500
45. 1996-10-01
    soldstatus $17,500

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$56/yr (+$5/mo · 5.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,777
• − Mortgage interest: −$5,321
• − Property taxes: −$952
• − Insurance: −$475
• − Repairs & maintenance: −$942
• − Management: −$942
• − Depreciation: −$2,764
• Taxable income: $380
• Est. tax owed @ 24.0%: −$91
• After-tax cash flow: $1,807/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: Wadena-Deer Creek School District
• NCES district ID: 2700022
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 45% ▼ -11.00%
• Median HH income: $38,917
• Composite: 32.56/100
• National rank: #5683
• State rank: #235 of 301 in MN

Livability — Wadena

• Score: 67/100
• State rank: #433
• US rank: #10325

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wadena, MN
• Population (ZIP): 7,494

Population outlook (Wadena County) Hauer SSP2

• Today (2025): 13,856 people
• By 2030: 13,689 · -1.2%
• By 2040: 13,382 · -3.4%
• By 2050: 13,062 · -5.7%
• By 2075: 12,185 · -12.1%
• By 2100: 10,297 · -25.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Portuguese 12% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Wadena

• 2024 margin: Solid R (+51.5) · D 23.6% · R 75.1% · Other 1.2%
• 2008→2024 swing: -34.1pp toward R · 2008: -17.4pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.5 2016: R+45.7 2012: R+24.4 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.45%
• Current HPI: 223.9404
• 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

+442.9% since first listed

29 events — show timeline

• 2026-05-16 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-03 Price Changed $89,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-13 Price Changed $107,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-29 Price Changed $117,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-04 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-24 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-07 Price Changed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-22 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-07 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-03 Price Changed $109,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-23 Price Changed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-13 Price Changed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-31 Price Changed $149,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-20 Price Changed $159,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-03 Price Changed $164,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-27 Listed $164,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-06 Price Changed $54,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-04 Price Changed $59,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-23 Listed $68,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-11-16 Sold (Public Records) $40,000 Public Records
• 2014-05-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-03-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-02-26 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-09-24 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-09-03 Listed $32,500 NORTHSTARMLS as Distributed by MLS Grid
• 1996-10-01 Sold (Public Records) $17,500 Public Records

Property tax history

+3.3%/yr

Latest (2026): $952 · +10.4% YoY. Source: county tax records.