350 River Ave · Middle River, MN 56737

$49,900

2 bd · 1.0 ba · 752 sqft · SingleFamily public records · 31 Days on market

Built 1940 0.52 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable 2-bedroom, 1-bath home situated on a spacious . 52-acre lot in Middle River. The home offers 908 finished square feet with a practical main-level layout, upper-level bedroom space, enclosed 3-season porch, deck, detached 1-car garage, and storage shed. Property is connected to city water and city sewer and includes 200+ amp electrical service. Interior features include an older kitchen, living/dining areas, main-level bedroom and bath, with additional upper-level bedroom space. The home has dated finishes and would benefit from updating, but offers a solid opportunity for a buyer looking for affordable housing, rental potential, or a renovation project in a small-town setting. Co

Key facts

• Spacious lot
• Storage shed
• City water

Tags

• SPACIOUS LOT
• ENCLOSED PORCH
• DETACHED GARAGE
• STORAGE SHED
• CITY WATER
• CITY SEWER

Property features AI

Exterior

• Parking: Concrete and other-surface driveway; 1-car garage (20x20)
• Utilities: City water connected; City sewer connected; 200+ amp electric service; Oil fuel
• Home design: Residential property; One-and-one-half story; Block foundation; Asphalt roof
• Construction: Block foundation
• Exterior features: Vinyl siding; Deck; Storage shed; Publicly maintained road access

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms — one on the main level and one on the upper level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Three season porch (8x8); Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($834 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#391 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools D+, crime D+, employment D.
• Greenbush-Middle River School District (rural): math 55% / reading 60% proficiency, ranked #186 of 467 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 9 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• Marshall County population projected to shrink 8% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.67% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.29%
• DSCR: 2.17
• GRM: 5.0

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: 27.8%
• Equity multiple: 2.58×
• Total profit: $22,022
• Equity at exit: $22,437

10-year hold

• IRR: 28.4%
• Equity multiple: 5.02×
• Total profit: $56,110
• Equity at exit: $34,578

Cash invested: $13,972 (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 56737

• Active inventory: 3
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $834 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$21
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $251

Break-even live

Break-even rent $517

Max offer price $49,900

Occupancy floor 65%

Sensitivity live

Price	-10% $279	-5% $265	+0% $251	+5% $236	+10% $222
Rent	-10% $185	-5% $218	+0% $251	+5% $284	+10% $316
Rate	-1.0pp $276	-0.5pp $263	base $251	+0.5pp $238	+1.0pp $224

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $49,900 Active 31 DOM
2. 2026-06-18
   days on market $49,900 Active 29 DOM
3. 2026-06-17
   days on market $49,900 Active 28 DOM
4. 2026-06-16
   days on market $49,900 Active 27 DOM
5. 2026-06-15
   days on market $49,900 Active 26 DOM
6. 2026-06-13
   days on market $49,900 Active 24 DOM
7. 2026-06-12
   days on market $49,900 Active 23 DOM
8. 2026-06-09
   days on market $49,900 Active 20 DOM
9. 2026-06-08
   days on market $49,900 Active 19 DOM
10. 2026-06-07
    days on market $49,900 Active 18 DOM
11. 2026-06-05
    days on market $49,900 Active 16 DOM
12. 2026-06-04
    days on market $49,900 Active 14 DOM
13. 2026-06-02
    days on market $49,900 Active 13 DOM
14. 2026-06-01
    days on market $49,900 Active 12 DOM
15. 2026-05-31
    days on market $49,900 Active 11 DOM
16. 2026-05-31
    days on market $49,900 Active 10 DOM
17. 2026-05-20
    listed $49,900 Active

ⓘ 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: $848 · $71/mo
• Projected year-2 tax: $848 · $71/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 7/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 1/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,014
• − Mortgage interest: −$2,795
• − Property taxes: −$848
• − Insurance: −$916
• − Repairs & maintenance: −$801
• − Management: −$801
• − Depreciation: −$1,452
• Taxable income: $2,401
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $2,431/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: Greenbush-Middle River School District
• NCES district ID: 2700107
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $49,269
• Composite: 50.64/100
• National rank: #3947
• State rank: #186 of 467 in MN

Livability — Middle River

• Score: 68/100
• State rank: #391
• US rank: #9271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middle River, MN
• Population (ZIP): 759

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 9,191 people
• By 2030: 9,078 · -1.2%
• By 2040: 8,815 · -4.1%
• By 2050: 8,464 · -7.9%
• By 2075: 8,156 · -11.3%
• By 2100: 7,171 · -22.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Portuguese 51% Romanian 6% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+51.7) · D 23.4% · R 75.1% · Other 1.4%
• 2008→2024 swing: -52.2pp toward R · 2008: 0.6pp · 2024: -51.7pp
• All cycles: 2024: R+51.7 2020: R+47.5 2016: R+41.4 2012: R+12.1 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-05-20 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+8.3%/yr

Latest (2025): $848 · +50.9% YoY. Source: county tax records.