1101 Bemidji Ave N · Bemidji, MN 56601

$209,000

12 bd · 9.0 ba · 1,266 sqft · Other public records · 45 Days on market

Built 1910 4,965 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in a sought after location close to BSU and downtown Bemidji with this 2400 sq. ft, Well maintained Tri-plex rental property with great rental history. Currently bringing in $2200/month rental income with $700 from the upper level, $850 from the main and $650 from the basement. In the last few years the rubber roof membrane on the flat roof has been replaced, as well as new shingles on the rest of the roof. The building has also received a new boiler, water heater and the basement apartment remodeled. Tenants pay their individual electric bills, the owner pays for the heat ($200/mo) and water ($135/mo). Insurance is$80/mo and prop. txs. are about $215/mo with special assessments paid off.

Key facts

• Furnished unit
• Recent updates
• Corner lot

Tags

• CORNER LOT
• QUICK ACCESS TO BSU
• STRONG INCOME POTENTIAL
• HIGH-DEMAND RENTAL MARKET
• FURNISHED UNIT
• RECENT UPDATES

Property features AI

Finance

• Other: Not owner-occupied; Total of 3 units
• Financial info: Standard rental license; Tenant pays electricity; Owner pays gas, repairs, snow removal, trash collection and water; Basic listed income/expense placeholders provided for multi-family financials

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential income property (triplex); Two levels; NW corner lot at Bemidji Ave and 11th St N; Lot approximately 0.114 acres (50 x 100)
• Construction: Block foundation; Rolled/hot mop roof; Foundation area approximately 800
• Exterior features: Covered patio/porch; Vinyl exterior

Interior

• Kitchen: Range and refrigerator in one 1-bedroom unit; Cooktop and refrigerator in the 2-bedroom unit
• Bedrooms: 4 bedrooms total (unit breakdown: two 1-bedroom units and one 2-bedroom unit)
• Bathrooms: Each 1-bedroom unit has 1 bathroom (one of those includes a three-quarter bath); The 2-bedroom unit has 1 full bathroom
• Heating & cooling: Boiler hot water heating; No cooling systems listed for units
• Interior features: Finished basement
• Laundry & utility: No in-unit laundry features listed

What this means for you Summary

Snapshot

• This is a 12-bed/9.0-bath other listed at $209k.

Deal economics

• At list price, monthly cash flow is $192 ($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 $208k (0.4% below list).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.3% in Bemidji — 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 73/100 on livability (#252 in MN) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bemidji Public School District (rural): math 42% / reading 50% proficiency, ranked #173 of 301 in MN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.0%/yr); 346 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).
• This rent runs 35% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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.

Risks & watch-outs

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

Recommended offer $202,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1910 — 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 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-19,421
• Equity at exit: $31,163

10-year hold

• IRR: 1.8%
• Equity multiple: 1.14×
• Total profit: $8,052
• Equity at exit: $18,071

Cash invested: $58,520 (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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 346
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,081 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$269 /mo · $3,226/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $192

Break-even live

Break-even rent $1,838

Max offer price $209,000

Occupancy floor 86%

Sensitivity live

Price	-10% $311	-5% $252	+0% $192	+5% $133	+10% $74
Rent	-10% $28	-5% $110	+0% $192	+5% $275	+10% $357
Rate	-1.0pp $298	-0.5pp $246	base $192	+0.5pp $138	+1.0pp $83

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $209,000 Active 45 DOM
2. 2026-06-19
   days on market $209,000 Active 43 DOM
3. 2026-06-18
   days on market $209,000 Active 42 DOM
4. 2026-06-17
   days on market $209,000 Active 41 DOM
5. 2026-06-16
   days on market $209,000 Active 40 DOM
6. 2026-06-15
   days on market $209,000 Active 39 DOM
7. 2026-06-14
   days on market $209,000 Active 37 DOM
8. 2026-06-12
   days on market $209,000 Active 36 DOM
9. 2026-06-09
   days on market $209,000 Active 33 DOM
10. 2026-06-08
    days on market $209,000 Active 32 DOM
11. 2026-06-07
    days on market $209,000 Active 31 DOM
12. 2026-06-05
    days on market $209,000 Active 28 DOM
13. 2026-06-02
    days on market $209,000 Active 26 DOM
14. 2026-06-01
    days on market $209,000 Active 25 DOM
15. 2026-05-31
    days on market $209,000 Active 24 DOM
16. 2026-05-30
    days on market $209,000 Active 23 DOM
17. 2026-05-06
    listed $209,000 Active 883-char remark
18. 2026-05-01
    historical
19. 2025-08-12
    price $219,900
20. 2025-08-11
    listed $229,900 Active
21. 2022-10-14
    soldstatus $190,000 Sold

    Show marketing remark (728 chars)

    Great investment opportunity in a sought after location close to BSU and downtown Bemidji with this 2400 sq. ft, Well maintained Tri-plex rental property with great rental history. Currently bringing in $2200/month rental income with $700 from the upper level, $850 from the main and $650 from the basement. In the last few years the rubber roof membrane on the flat roof has been replaced, as well as new shingles on the rest of the roof. The building has also received a new boiler, water heater and the basement apartment remodeled. Tenants pay their individual electric bills, the owner pays for the heat ($200/mo) and water ($135/mo). Insurance is$80/mo and prop. txs. are about $215/mo with special assessments paid off.

22. 2022-09-08
    status Pending

    Show marketing remark (728 chars)

    Great investment opportunity in a sought after location close to BSU and downtown Bemidji with this 2400 sq. ft, Well maintained Tri-plex rental property with great rental history. Currently bringing in $2200/month rental income with $700 from the upper level, $850 from the main and $650 from the basement. In the last few years the rubber roof membrane on the flat roof has been replaced, as well as new shingles on the rest of the roof. The building has also received a new boiler, water heater and the basement apartment remodeled. Tenants pay their individual electric bills, the owner pays for the heat ($200/mo) and water ($135/mo). Insurance is$80/mo and prop. txs. are about $215/mo with special assessments paid off.

23. 2022-08-22
    price $205,000

    Show marketing remark (728 chars)

    Great investment opportunity in a sought after location close to BSU and downtown Bemidji with this 2400 sq. ft, Well maintained Tri-plex rental property with great rental history. Currently bringing in $2200/month rental income with $700 from the upper level, $850 from the main and $650 from the basement. In the last few years the rubber roof membrane on the flat roof has been replaced, as well as new shingles on the rest of the roof. The building has also received a new boiler, water heater and the basement apartment remodeled. Tenants pay their individual electric bills, the owner pays for the heat ($200/mo) and water ($135/mo). Insurance is$80/mo and prop. txs. are about $215/mo with special assessments paid off.

24. 2022-06-29
    listed $219,000 Active

    Show marketing remark (728 chars)

    Great investment opportunity in a sought after location close to BSU and downtown Bemidji with this 2400 sq. ft, Well maintained Tri-plex rental property with great rental history. Currently bringing in $2200/month rental income with $700 from the upper level, $850 from the main and $650 from the basement. In the last few years the rubber roof membrane on the flat roof has been replaced, as well as new shingles on the rest of the roof. The building has also received a new boiler, water heater and the basement apartment remodeled. Tenants pay their individual electric bills, the owner pays for the heat ($200/mo) and water ($135/mo). Insurance is$80/mo and prop. txs. are about $215/mo with special assessments paid off.

25. 2015-01-28
    historical
26. 2015-01-28
    historical
27. 2014-11-12
    listed $98,000 Active
28. 2014-09-12
    listed $98,000

ⓘ 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: $3,226 · $269/mo
• Projected year-2 tax: $3,226 · $269/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,977
• − Mortgage interest: −$11,707
• − Property taxes: −$3,226
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − Depreciation: −$6,080
• Taxable loss: −$1,078
• Est. tax savings @ 24.0%: +$259
• After-tax cash flow: $2,567/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: Bemidji Public School District
• NCES district ID: 2704440
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $47,735
• Composite: 39.22/100
• National rank: #4013
• State rank: #173 of 301 in MN

Livability — Bemidji

• Score: 73/100
• State rank: #252
• US rank: #5416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bemidji, MN
• County: Beltrami County · 34,784 people
• City population: 34,784
• Metro: Bemidji, MN
• Population (ZIP): 34,784
• Household income: $72,262
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 940.0

Population outlook (Beltrami County) Hauer SSP2

• Today (2025): 46,437 people
• By 2030: 46,736 · +0.6%
• By 2040: 46,804 · +0.8%
• By 2050: 46,299 · -0.3%
• By 2075: 44,037 · -5.2%
• By 2100: 38,567 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Native American 8% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Beltrami

• 2024 margin: Lean R (+5.7) · D 46.3% · R 52.0% · Other 1.7%
• 2008→2024 swing: -15.8pp toward R · 2008: 10.2pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.1 2016: R+9.8 2012: D+9.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.95%
• Current HPI: 261.5734
• Rent YoY: ▲ 4.02%
• Metro: Bemidji, 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

+113.3% since first listed

12 events — show timeline

• 2026-05-06 Listed $209,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-12 Price Changed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-11 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-14 Sold (MLS) $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-22 Price Changed $205,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-29 Listed $219,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-01-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2015-01-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-12 Listed $98,000 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-12 Listed $98,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $3,226 · -0.6% YoY. Source: county tax records.