310 6th St NW · East Grand Forks, MN 56721

$89,900

3 bd · 1.0 ba · 1,158 sqft · SingleFamily public records · 7 Days on market

Built 1889 6,580 sqft lot $78/sqft · 38% below area Est $171k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEWER WINDOWS, ROOF, GFA FURNACE. VERY WELL MAINTAINED 3 BEDROOM PLUS MAIN FLOOR DEN & 2 BATHS. NEUTRAL DECOR THROUGHOUT. BEAUTIFUL LARGE FENCED BACK YARD PLUS ATTACHED GARAGE. A MUST SEE!

Key facts

• Spacious livingroom
• Large fenced yard
• 6,580 sq ft lot

Tags

• LARGE FENCED YARD
• SPACIOUS LIVINGROOM
• OVERSIZED FULL BATHROOM

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Natural gas available
• Home design: Single-family residence; Two levels
• Construction: Masonite siding; Block foundation; Built by unknown builder
• Exterior features: Patio; Wood fencing (fenced yard); Lot approximately 6,580 square feet

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Forced air heating; Natural gas available; Electric heating; Cooling present
• Interior features: Full basement; Total of 10 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 15.4% vs local median 3.1% in East Grand Forks — 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 76/100 on livability (#167 in MN, #3,598 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Grand Forks Public School District (suburban): math 42% / reading 49% proficiency, ranked #168 of 301 in MN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Grand Forks Senior High (math 27% / reading 52%, grade F, #246 of 471 statewide, top 59%, 541 students, 34% FRL).
• Market conditions: 57 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 42 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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 $72k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1889 — 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 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. 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: 1.83% ✓
• Cap rate: 15.43%
• Cash-on-cash: 32.62%
• DSCR: 2.45
• GRM: 4.6

CMA / ARV

• ARV (median comp): $170,718
• List price: $89,900
• Delta: -47.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
819 Burlington DR Dr NW	0.16mi	2/1.5 (-1)	1,104 (-5%)	6mo	$229,900	$208	73
914 1st Ave Ave NE	0.24mi	3/2.0	1,162 (+0%)	16mo	$115,500	$99	71
1120 4th Ave NW	0.36mi	3/2.0	1,116 (-4%)	4mo	$289,000	$259	70
417 2nd Ave NE	0.28mi	3/2.0	1,067 (-8%)	0mo	$189,900	$178	70
309 5th St NW	0.10mi	4/2.5 (+1)	1,117 (-4%)	15mo	$155,000	$139	66
822 5th Ave NW	0.19mi	3/2.0	1,072 (-7%)	11mo	$255,000	$238	65
106 5th St NW	0.16mi	2/1.0 (-1)	1,104 (-5%)	23mo	$114,900	$104	61
514 1st Ave NE	0.21mi	3/1.0	1,289 (+11%)	15mo	$99,900	$78	59
1403 4th Ave NW	0.52mi	4/2.0 (+1)	1,140 (-2%)	8mo	$263,500	$231	58

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

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 2.15×
• Total profit: $29,028
• Equity at exit: $13,404

10-year hold

• IRR: 35.2%
• Equity multiple: 4.24×
• Total profit: $81,471
• Equity at exit: $7,773

Cash invested: $25,172 (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 56721

• Active inventory: 57
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,644 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$106 /mo · $1,268/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $684

Break-even live

Break-even rent $778

Max offer price $89,900

Occupancy floor 53%

Sensitivity live

Price	-10% $735	-5% $710	+0% $684	+5% $659	+10% $633
Rent	-10% $554	-5% $619	+0% $684	+5% $749	+10% $814
Rate	-1.0pp $729	-0.5pp $707	base $684	+0.5pp $661	+1.0pp $637

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 N 4th St Grand Forks, ND	3.0	1.0–2.0	974	$2,345	$2.41	44d	1	0.65mi

Listing history 5 events

1. 2026-05-18
   status Pending 674-char remark
2. 2026-05-11
   listed $89,900 Active 674-char remark
3. 1998-10-28
   soldstatus 196-char remark

   Show marketing remark (196 chars)

   NEWER WINDOWS, ROOF, GFA FURNACE. VERY WELL MAINTAINED 3 BEDROOM PLUS MAIN FLOOR DEN & 2 BATHS. NEUTRAL DECOR THROUGHOUT. BEAUTIFUL LARGE FENCED BACK YARD PLUS ATTACHED GARAGE. A MUST SEE!

4. 1998-10-28
   soldstatus $71,700

   Show marketing remark (196 chars)

   NEWER WINDOWS, ROOF, GFA FURNACE. VERY WELL MAINTAINED 3 BEDROOM PLUS MAIN FLOOR DEN & 2 BATHS. NEUTRAL DECOR THROUGHOUT. BEAUTIFUL LARGE FENCED BACK YARD PLUS ATTACHED GARAGE. A MUST SEE!

5. 1998-09-14
   listed $72,900 196-char remark

   Show marketing remark (196 chars)

   NEWER WINDOWS, ROOF, GFA FURNACE. VERY WELL MAINTAINED 3 BEDROOM PLUS MAIN FLOOR DEN & 2 BATHS. NEUTRAL DECOR THROUGHOUT. BEAUTIFUL LARGE FENCED BACK YARD PLUS ATTACHED GARAGE. A MUST SEE!

ⓘ 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: $1,268 · $106/mo
• Projected year-2 tax: $1,268 · $106/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 3/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,728
• − Mortgage interest: −$5,036
• − Property taxes: −$1,268
• − Insurance: −$450
• − Repairs & maintenance: −$1,578
• − Management: −$1,578
• − Depreciation: −$2,615
• Taxable income: $7,203
• Est. tax owed @ 24.0%: −$1,729
• After-tax cash flow: $6,481/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: East Grand Forks Public School District
• NCES district ID: 2711130
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $55,956
• Composite: 39.6/100
• National rank: #3924
• State rank: #168 of 301 in MN

Livability — East Grand Forks

• Score: 76/100
• State rank: #167
• US rank: #3598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Grand Forks, MN
• County: Polk County · 10,679 people
• City population: 10,679
• Metro: Grand Forks, ND-MN
• Population (ZIP): 10,679
• Household income: $82,525
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 276.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 31% Lithuanian 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.89%
• Current HPI: 176.3062
• Rent YoY: —
• Metro: Grand Forks, ND-MN
• 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

+23.3% since first listed

5 events — show timeline

• 2026-05-18 Pending — GFAAR
• 2026-05-11 Listed $89,900 GFAAR
• 1998-10-28 Sold (Public Records) $71,700 Public Records
• 1998-10-28 Sold (MLS) — GFAAR
• 1998-09-14 Listed $72,900 GFAAR

Property tax history

+4.8%/yr

Latest (2026): $1,268 · +16.5% YoY. Source: county tax records.