1518 S Front St · Crookston, MN 56716

$149,900

4 bd · 2.5 ba · 2,125 sqft · SingleFamily public records · 198 Days on market

Built 1998 0.46 ac 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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nice four bed two and one half bath property with a two-stall attached garage on the South end of Crookston. This property being sold ''as-is'' To submit offer please go to www. servicelinkauction. com, search for the property and follow instructions.

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1998

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-50 ($-599/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (3.4% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 4.2% in Crookston — 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 79/100 on livability (#92 in MN, #2,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Crookston Public School District (town): math 46% / reading 49% proficiency, ranked #151 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 8.6

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: -18.5%
• Equity multiple: 0.35×
• Total profit: $-27,352
• Equity at exit: $22,351

10-year hold

• IRR: -10.8%
• Equity multiple: 0.35×
• Total profit: $-27,429
• Equity at exit: $12,961

Cash invested: $41,972 (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 56716

• Home prices YoY: -22.0%
• Active inventory: 51
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$346 /mo · $4,150/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-50

Break-even live

Break-even rent $1,512

Max offer price $141,078

Occupancy floor 98%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $149,900 Active 198 DOM
2. 2026-06-18
   days on market $149,900 Active 197 DOM
3. 2026-06-17
   days on market $149,900 Active 196 DOM
4. 2026-06-16
   days on market $149,900 Active 195 DOM
5. 2026-06-15
   status $149,900 Active 194 DOM
6. 2026-04-27
   status Pending
7. 2026-04-06
   historical Active Under Contract
8. 2025-12-07
   price $149,900
9. 2025-10-13
   listed $159,900 Active
10. 2025-05-28
    price $169,900
11. 2025-03-14
    price $184,900
12. 2025-01-23
    price $199,900
13. 2024-12-23
    listed $214,900 Active
14. 2014-02-15
    soldstatus $144,000

ⓘ 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: $4,150 · $346/mo
• Projected year-2 tax: $4,150 · $346/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 1/10 Low
• 🌡 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,384
• − Mortgage interest: −$8,397
• − Property taxes: −$4,150
• − Insurance: −$750
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$4,361
• Taxable loss: −$3,054
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $134/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: Crookston Public School District
• NCES district ID: 2709720
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $49,756
• Composite: 40.68/100
• National rank: #3671
• State rank: #151 of 301 in MN

Livability — Crookston

• Score: 79/100
• State rank: #92
• US rank: #2097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crookston, MN
• Population (ZIP): 8,991

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 28% Lithuanian 8% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -62.06%
• Current HPI: 219.5106
• 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

+4.1% since first listed

9 events — show timeline

• 2026-04-27 Pending — GFAAR
• 2026-04-06 Contingent — GFAAR
• 2025-12-07 Price Changed $149,900 GFAAR
• 2025-10-13 Listed $159,900 GFAAR
• 2025-05-28 Price Changed $169,900 GFAAR
• 2025-03-14 Price Changed $184,900 GFAAR
• 2025-01-23 Price Changed $199,900 GFAAR
• 2024-12-23 Listed $214,900 GFAAR
• 2014-02-15 Sold (Public Records) $144,000 Public Records

Property tax history

+4.3%/yr

Latest (2026): $4,150 · +5.3% YoY. Source: county tax records.