4787 Whitetail Rd NE · Bemidji, MN 56601

$219,900

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 35 Days on market

Built 1982 2.00 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

4 Bedroom, 2 bath one-of-a-kind octagon log home nestled on 2 beautiful acres in an excellent location. This unique property offers a functional layout with the main floor living area, kitchen, 2 bedrooms, 2 bathrooms, and a loft that provides additional space for a home office, sitting area, or flex use. The fully finished basement has 2 bedrooms, family room, a laundry room and a stubbed in 3rd bath. Exterior features include a front deck, a fenced backyard, and a storage shed. With its distinctive design, usable space, and room for future expansion, this property is a great opportunity in a highly desirable setting.

Key facts

• 2 acre lot
• Built 1982
• Listed 35 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Well water; Septic system with tank and drainage field (compliant); Propane fuel
• Home design: Residential property; One and one-half levels; Facing direction not specified; Entry level not specified
• Construction: Log construction; Asphalt roof; Block foundation; Built or has foundation area noted
• Exterior features: Deck; Log exterior; Storage shed; Medium tree coverage

Interior

• Kitchen: Range; Refrigerator; Kitchen window
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom; Main floor 3/4 bath; Main floor half bath; Rough-in for additional bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Vaulted ceilings; Informal dining area; Washer/dryer hookup; Electric fireplace
• Laundry & utility: Washer and dryer included; Laundry located in the basement; Electric water heater; Propane fuel (for appliances/heating)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-293 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (39.0% below list).
• Recommended offer: $134k (39.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.6% in Bemidji — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 345 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $220k implies a 816% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,180 (39.0% 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 35 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
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. 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: 0.61% ✗
• Cap rate: 4.70%
• Cash-on-cash: -5.70%
• DSCR: 0.75
• GRM: 13.7

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: -25.2%
• Equity multiple: 0.14×
• Total profit: $-52,962
• Equity at exit: $32,788

10-year hold

• IRR: -18.9%
• Equity multiple: -0.05×
• Total profit: $-64,623
• Equity at exit: $19,013

Cash invested: $61,572 (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: 345
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $-293

Break-even live

Break-even rent $1,712

Max offer price $168,208

Occupancy floor —

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5801 Tall Pines Rd NE Unit B Bemidji, MN	2.0	1.0	762	$1,250	$1.64	43d	1	0.86mi

Listing history 4 events

1. 2026-05-04
   status Pending
2. 2026-04-03
   historical Contingent - Inspection
3. 2026-03-27
   listed $219,900 Active
4. 2007-09-04
   soldstatus $24,000

ⓘ 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: $1,294 · $108/mo
• Projected year-2 tax: $1,878 · $157/mo
• Expected delta: +$584/yr (+$49/mo · 45.2%)

ⓘ 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 ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,102
• − Mortgage interest: −$12,318
• − Property taxes: −$1,294
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$6,397
• Taxable loss: −$7,583
• Est. tax savings @ 24.0%: +$1,820
• After-tax cash flow: $-1,691/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

• 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

+816.2% since first listed

4 events — show timeline

• 2026-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $219,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-04 Sold (Public Records) $24,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,294 · -28.3% YoY. Source: county tax records.