916 NW 7th Ave NW · Perham, MN 56573

$369,500

3 bd · 2.0 ba · 1,588 sqft · SingleFamily public records · 95 Days on market

Built 2025 Good condition 0.44 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 +12.0/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Effortless One-Level Living in Westwind 4th Addition! Experience the perfect blend of style and accessibility in this brand-new, one-level masterpiece. The open-concept design is defined by vaulted ceilings that flood the home with natural light. At it's heart, the kitchen features sleek stainless steel appliances and a sit-up island-ideal for casual mornings or hosting friends. The primary suite serves as a true retreat, complete with a beautifully tiled walk-in shower and a generous walk-in closet. Two additional bedrooms provide the perfect space for guests or a home office. Step through the sliding glass door to your private patio or take a short stroll to nearby walking paths, ball fields and the local golf course. With an insulated garage, high efficiency natural gas furnace and central air, this home is built for year-round comfort and peace of mind. Financial Perk: Special assessments may be waived if the Buyer's income qualifies!

Key facts

• Open concept design
• Private patio
• Walk in closet

Tags

• ONE LEVEL LIVING
• OPEN CONCEPT DESIGN
• STAINLESS STEEL APPLIANCES
• WALK IN SHOWER
• WALK IN CLOSET
• PRIVATE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $370k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $357k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (15.4% below list).
• Recommended offer: $312k (15.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#328 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Heart of The Lake Elementary (math 54% / reading 51%, grade C-, #364 of 857 statewide, top 43%, 575 students, 47% FRL); Prairie Wind Middle (math 44% / reading 59%, grade C, #65 of 258 statewide, top 26%, 515 students, 38% FRL); Perham Senior High (math 37% / reading 62%, grade D, #143 of 471 statewide, top 33%, 505 students, 36% FRL).
• Market conditions: 93 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($336k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $312,500 (15.4% 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 95 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 9.9

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-65,227
• Equity at exit: $55,094

10-year hold

• IRR: -10.1%
• Equity multiple: 0.39×
• Total profit: $-63,560
• Equity at exit: $31,948

Cash invested: $103,460 (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 56573

• Home prices YoY: -15.8%
• Active inventory: 93
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,125 medium
• Mortgage (P&I): −$1,938
• Tax est. 1.5%: −$462 /mo · $5,542/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $-85

Break-even live

Break-even rent $3,232

Max offer price $357,232

Occupancy floor 98%

Sensitivity live

Price	-10% $171	-5% $43	+0% $-85	+5% $-212	+10% $-340
Rent	-10% $-332	-5% $-208	+0% $-85	+5% $39	+10% $162
Rate	-1.0pp $101	-0.5pp $9	base $-85	+0.5pp $-181	+1.0pp $-278

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: $92,375
• Closing costs: $11,085
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 7th St SW Unit A Perham, MN	3.0	2.0	1602	$3,750	$2.34	45d	1	1.11mi
812 7th St SW Unit B Perham, MN	3.0	2.0	1602	$2,500	$1.56	45d	1	1.11mi

Listing history 20 events

1. 2026-06-21
   days on market $369,500 Active 95 DOM
2. 2026-06-21
   days on market $369,500 Active 94 DOM
3. 2026-06-18
   days on market $369,500 Active 92 DOM
4. 2026-06-17
   days on market $369,500 Active 91 DOM
5. 2026-06-16
   days on market $369,500 Active 90 DOM
6. 2026-06-15
   days on market $369,500 Active 89 DOM
7. 2026-06-13
   days on market $369,500 Active 87 DOM
8. 2026-06-12
   days on market $369,500 Active 86 DOM
9. 2026-06-09
   days on market $369,500 Active 83 DOM
10. 2026-06-08
    days on market $369,500 Active 82 DOM
11. 2026-06-07
    days on market $369,500 Active 81 DOM
12. 2026-06-07
    days on market $369,500 Active 80 DOM
13. 2026-06-04
    days on market $369,500 Active 77 DOM
14. 2026-06-02
    days on market $369,500 Active 76 DOM
15. 2026-06-01
    days on market $369,500 Active 75 DOM
16. 2026-05-31
    days on market $369,500 Active 74 DOM
17. 2026-05-31
    days on market $369,500 Active 73 DOM
18. 2026-05-08
    status Active 952-char remark

    Show marketing remark (952 chars)

    Effortless One-Level Living in Westwind 4th Addition! Experience the perfect blend of style and accessibility in this brand-new, one-level masterpiece. The open-concept design is defined by vaulted ceilings that flood the home with natural light. At it's heart, the kitchen features sleek stainless steel appliances and a sit-up island-ideal for casual mornings or hosting friends. The primary suite serves as a true retreat, complete with a beautifully tiled walk-in shower and a generous walk-in closet. Two additional bedrooms provide the perfect space for guests or a home office. Step through the sliding glass door to your private patio or take a short stroll to nearby walking paths, ball fields and the local golf course. With an insulated garage, high efficiency natural gas furnace and central air, this home is built for year-round comfort and peace of mind. Financial Perk: Special assessments may be waived if the Buyer's income qualifies!

19. 2026-05-01
    historical 952-char remark

    Show marketing remark (952 chars)

    Effortless One-Level Living in Westwind 4th Addition! Experience the perfect blend of style and accessibility in this brand-new, one-level masterpiece. The open-concept design is defined by vaulted ceilings that flood the home with natural light. At it's heart, the kitchen features sleek stainless steel appliances and a sit-up island-ideal for casual mornings or hosting friends. The primary suite serves as a true retreat, complete with a beautifully tiled walk-in shower and a generous walk-in closet. Two additional bedrooms provide the perfect space for guests or a home office. Step through the sliding glass door to your private patio or take a short stroll to nearby walking paths, ball fields and the local golf course. With an insulated garage, high efficiency natural gas furnace and central air, this home is built for year-round comfort and peace of mind. Financial Perk: Special assessments may be waived if the Buyer's income qualifies!

20. 2026-03-12
    listed $369,500 Active 952-char remark

    Show marketing remark (952 chars)

    Effortless One-Level Living in Westwind 4th Addition! Experience the perfect blend of style and accessibility in this brand-new, one-level masterpiece. The open-concept design is defined by vaulted ceilings that flood the home with natural light. At it's heart, the kitchen features sleek stainless steel appliances and a sit-up island-ideal for casual mornings or hosting friends. The primary suite serves as a true retreat, complete with a beautifully tiled walk-in shower and a generous walk-in closet. Two additional bedrooms provide the perfect space for guests or a home office. Step through the sliding glass door to your private patio or take a short stroll to nearby walking paths, ball fields and the local golf course. With an insulated garage, high efficiency natural gas furnace and central air, this home is built for year-round comfort and peace of mind. Financial Perk: Special assessments may be waived if the Buyer's income qualifies!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,500
• − Mortgage interest: −$20,698
• − Property taxes: −$5,542
• − Insurance: −$1,848
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$10,749
• Taxable loss: −$7,337
• Est. tax savings @ 24.0%: +$1,761
• After-tax cash flow: $743/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.

Condition & rehab AI · 5 photos

Good 80/100 None rehab

This single-family home in Perham, MN, is in excellent condition with a good condition score of 80. It features a modern kitchen, hardwood floors, and a well-maintained exterior. The property is move-in ready and would benefit from some exterior painting and smart home features to further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Install smart home features — Improves convenience and marketability
• Both Add outdoor lighting — Enhances safety and curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Install smart home features — Improves convenience and marketability ↑
• Both Add outdoor lighting — Enhances safety and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Perham

• Score: 70/100
• State rank: #328
• US rank: #7425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perham, MN
• Population (ZIP): 6,868

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.48%
• Current HPI: 225.7071
• 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

3 events — show timeline

• 2026-05-08 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-12 Listed $369,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+73.2%/yr

Latest (2025): $258 · -82.8% YoY. Source: county tax records.