7657 Front St NW · Walker, MN 56484

$119,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 92 Days on market

Built 2002 2,178 sqft 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
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

Key facts

• Potential for flip
• 2,178 sq ft lot
• Built 2002

Tags

• MINUTES FROM LEECH LAKE
• POTENTIAL FOR FLIP
• OPPORTUNITY FOR INVESTORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 0.8% in Walker — 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 (#234 in MN, #4,999 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F.
• Walker-Hackensack-Akeley School District (rural): math 31% / reading 47% proficiency, ranked #232 of 301 in MN (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 81 active listings in the ZIP; 285 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $119k implies a 376% gain — meaningful room to come down on a strong offer.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.50% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.66%
• DSCR: 2.10
• GRM: 5.6

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: 18.0%
• Equity multiple: 1.73×
• Total profit: $24,296
• Equity at exit: $17,743

10-year hold

• IRR: 26.4%
• Equity multiple: 3.32×
• Total profit: $77,174
• Equity at exit: $10,289

Cash invested: $33,320 (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 56484

• Home prices YoY: -10.5%
• Active inventory: 81
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,780 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $685

Break-even live

Break-even rent $913

Max offer price $119,000

Occupancy floor 57%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-18
   status Pending 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

2. 2026-05-18
   historical Contingent - Inspection 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

3. 2026-05-17
   historical 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

4. 2026-03-31
   price $119,000 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

5. 2026-02-19
   status Active 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

6. 2026-02-17
   historical Contingent - Inspection 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

7. 2026-02-13
   listed $129,000 Active 343-char remark

   Show marketing remark (343 chars)

   Value-add opportunity in prime lakes area location! This 3 bed / 2 bath home offers a strong potential for flip, rental, or vacation property. Located just minutes from Leech Lake, Shingobee Bay, and downtown Walker. Property needs sweat equity—priced accordingly. Great opportunity for investors or handy buyers looking to build equity.

8. 1999-10-01
   soldstatus $25,000

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$380/yr (+$32/mo · 66.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,358
• − Mortgage interest: −$6,666
• − Property taxes: −$572
• − Insurance: −$595
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − Depreciation: −$3,462
• Taxable income: $6,646
• Est. tax owed @ 24.0%: −$1,595
• After-tax cash flow: $6,622/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: Walker-Hackensack-Akeley School District
• NCES district ID: 2702910
• Math proficiency: 31% ▼ -11.00%
• Reading proficiency: 47% ▼ -7.00%
• Median HH income: $45,355
• Composite: 33.16/100
• National rank: #5549
• State rank: #232 of 301 in MN

Livability — Walker

• Score: 73/100
• State rank: #234
• US rank: #4999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,252

Population outlook (Cass County) Hauer SSP2

• Today (2025): 27,371 people
• By 2030: 26,311 · -3.9%
• By 2040: 23,945 · -12.5%
• By 2050: 21,889 · -20.0%
• By 2075: 18,435 · -32.6%
• By 2100: 14,478 · -47.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Native American 17% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Portuguese 17% Lithuanian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.4) · D 32.6% · R 66.0% · Other 1.3%
• 2008→2024 swing: -24.9pp toward R · 2008: -8.5pp · 2024: -33.4pp
• All cycles: 2024: R+33.4 2020: R+28.9 2016: R+31.7 2012: R+13.1 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.95%
• Current HPI: 213.633
• 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

+376.0% since first listed

8 events — show timeline

• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-17 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-13 Listed $129,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-10-01 Sold (Public Records) $25,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $572 · +3.6% YoY. Source: county tax records.