906 Irvine Ave NW · Bemidji, MN 56601

$93,609

2 bd · 2.0 ba · 1,712 sqft · Other public records · 62 Days on market

Built 1910 7,056 sqft lot

---

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 +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

Convenient in-town location with easy access to Bemidji amenities. This home offers 2 bedrooms and 2 full baths, one on the main level and another in the finished basement Additional highlights include a detached 1-stall garage and two porches for season enjoyment. This property also has a current rental permit with the city.

Key facts

• Easy access
• In-town location
• Two porches

Tags

• IN-TOWN LOCATION
• EASY ACCESS
• DETACHED GARAGE
• TWO PORCHES
• CURRENT RENTAL PERMIT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $94k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.6% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $647 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 14y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $94k implies a 108% gain — meaningful room to come down on a strong offer.

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 $87,992 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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?
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: 1.64% ✓
• Cap rate: 13.48%
• Cash-on-cash: 25.66%
• DSCR: 2.14
• GRM: 5.1

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: 20.5%
• Equity multiple: 1.85×
• Total profit: $22,148
• Equity at exit: $13,957

10-year hold

• IRR: 29.3%
• Equity multiple: 3.75×
• Total profit: $72,026
• Equity at exit: $8,094

Cash invested: $26,211 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,534 medium
• Mortgage (P&I): −$491
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $561

Break-even live

Break-even rent $825

Max offer price $93,609

Occupancy floor 58%

Sensitivity live

Price	-10% $614	-5% $587	+0% $561	+5% $534	+10% $508
Rent	-10% $439	-5% $500	+0% $561	+5% $621	+10% $682
Rate	-1.0pp $608	-0.5pp $584	base $561	+0.5pp $536	+1.0pp $512

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: $23,402
• Closing costs: $2,808
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-06-21
   pricedays on market $93,609 Active 62 DOM
2. 2026-06-19
   days on market $96,309 Active 60 DOM
3. 2026-06-18
   days on market $96,309 Active 59 DOM
4. 2026-06-17
   days on market $96,309 Active 58 DOM
5. 2026-06-16
   days on market $96,309 Active 57 DOM
6. 2026-06-15
   days on market $96,309 Active 56 DOM
7. 2026-06-14
   days on market $96,309 Active 54 DOM
8. 2026-06-12
   days on market $96,309 Active 53 DOM
9. 2026-06-09
   days on market $96,309 Active 50 DOM
10. 2026-06-09
    price $96,309 Active 49 DOM
11. 2026-06-08
    days on market $99,900 Active 49 DOM
12. 2026-06-07
    days on market $99,900 Active 48 DOM
13. 2026-06-05
    days on market $99,900 Active 45 DOM
14. 2026-06-02
    days on market $99,900 Active 43 DOM
15. 2026-06-01
    days on market $99,900 Active 42 DOM
16. 2026-05-31
    days on market $99,900 Active 41 DOM
17. 2026-05-30
    days on market $99,900 Active 40 DOM
18. 2026-05-01
    status Active 328-char remark

    Show marketing remark (328 chars)

    Convenient in-town location with easy access to Bemidji amenities. This home offers 2 bedrooms and 2 full baths, one on the main level and another in the finished basement Additional highlights include a detached 1-stall garage and two porches for season enjoyment. This property also has a current rental permit with the city.

19. 2026-04-25
    historical 328-char remark

    Show marketing remark (328 chars)

    Convenient in-town location with easy access to Bemidji amenities. This home offers 2 bedrooms and 2 full baths, one on the main level and another in the finished basement Additional highlights include a detached 1-stall garage and two porches for season enjoyment. This property also has a current rental permit with the city.

20. 2026-04-15
    historical
21. 2026-04-14
    listed $99,900 Active 328-char remark

    Show marketing remark (328 chars)

    Convenient in-town location with easy access to Bemidji amenities. This home offers 2 bedrooms and 2 full baths, one on the main level and another in the finished basement Additional highlights include a detached 1-stall garage and two porches for season enjoyment. This property also has a current rental permit with the city.

22. 2026-03-27
    historical Contingent - Inspection
23. 2025-11-18
    price $102,000
24. 2025-10-28
    price $108,000
25. 2025-10-21
    price $111,000
26. 2025-10-17
    price $116,000
27. 2025-10-10
    price $120,000
28. 2025-09-29
    price $125,000
29. 2025-09-23
    price $130,000
30. 2025-09-15
    price $138,000
31. 2025-09-12
    listed $180,000 Active
32. 2025-06-11
    historical $1,000
33. 2025-05-22
    listed $1,000
34. 2025-04-04
    historical $1,000
35. 2025-02-21
    listed $1,000
36. 2024-10-10
    historical $950
37. 2024-10-02
    price $950
38. 2024-09-06
    listed $1,000
39. 2022-03-31
    price $900
40. 2015-10-01
    soldstatus $45,000
41. 2015-09-29
    soldstatus $45,000
42. 2015-04-20
    listed $49,900
43. 2014-07-12
    historical
44. 2013-07-11
    listed $49,900
45. 2013-07-09
    listed $49,900
46. 2013-07-01
    historical
47. 2012-04-17
    listed $54,900
48. 2012-04-17
    listed $54,900

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,462 · $122/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: $18,414
• − Mortgage interest: −$5,244
• − Property taxes: −$1,462
• − Insurance: −$468
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$2,723
• Taxable income: $5,571
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $5,389/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

+82.0% since first listed

31 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-15 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-18 Price Changed $102,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-28 Price Changed $108,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-21 Price Changed $111,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $116,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-10 Price Changed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-29 Price Changed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-15 Price Changed $138,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-12 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-11 Rental Removed $1,000 APPFOLIO
• 2025-05-22 Listed for Rent $1,000 APPFOLIO
• 2025-04-04 Rental Removed $1,000 APPFOLIO
• 2025-02-21 Listed for Rent $1,000 APPFOLIO
• 2024-10-10 Rental Removed $950 BUILDIUM
• 2024-10-02 Price Changed $950 BUILDIUM
• 2024-09-06 Listed for Rent $1,000 BUILDIUM
• 2022-03-31 Price Changed $900 BUILDIUM
• 2015-10-01 Sold (Public Records) $45,000 Public Records
• 2015-09-29 Sold (MLS) $45,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-20 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-11 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-09 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-07-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-17 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-04-17 Listed $54,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $1,462 · +8.5% YoY. Source: county tax records.