501 4th St SE · Deer River, MN 56636

$50,000

3 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 1 Days on market

Built 1910

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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 +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Single family home for sale on a large 2+ lot of land corner. Two blocks from the newly renovated King Elementary School with all the roads and water just being redone surrounding the property. Home needs some love and attention. A bit of a Fixer upper but it has been wonderful to my family and I for over a decade, one master bedroom and 2 regular bedrooms, one bathroom. Large basement that stays dry. Crawlspace, over the stairs extra large storage room. Back yard is the biggest in the neighborhood with plenty of room for a garage. It wont last long at this price, but if you are looking for a place to call yours, this could be it for a monumentally low price given today& apos; s market!

Key facts

• Biggest back yard
• Large basement
• Large lot of land

Tags

• LARGE LOT OF LAND
• LARGE BASEMENT
• EXTRA LARGE STORAGE ROOM
• BIGGEST BACK YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($897 rent vs $50k).

Location & tenants

• Location reads 64/100 on livability (#587 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Deer River Public School District (rural): math 31% / reading 40% proficiency, ranked #256 of 301 in MN (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.79% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.16%
• DSCR: 2.21
• GRM: 4.6

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: 21.2%
• Equity multiple: 1.87×
• Total profit: $12,125
• Equity at exit: $7,455

10-year hold

• IRR: 29.3%
• Equity multiple: 3.62×
• Total profit: $36,721
• Equity at exit: $4,323

Cash invested: $14,000 (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 56636

• Home prices YoY: -18.3%
• Active inventory: 58
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $897 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$109 /mo · $1,308/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $317

Break-even live

Break-even rent $496

Max offer price $50,000

Occupancy floor 60%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-26
   listed $50,000 Active
2. 2001-01-01
   soldstatus $34,400

ⓘ 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: $1,308 · $109/mo
• Projected year-2 tax: $1,308 · $109/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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,769
• − Mortgage interest: −$2,801
• − Property taxes: −$1,308
• − Insurance: −$250
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$1,455
• Taxable income: $3,233
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $3,027/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: Deer River Public School District
• NCES district ID: 2710140
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $41,858
• Composite: 29.95/100
• National rank: #6375
• State rank: #256 of 301 in MN

Livability — Deer River

• Score: 64/100
• State rank: #587
• US rank: #14023

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: Deer River, MN
• Population (ZIP): 4,679

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Native American 10% Two or more races 8%
• Common ancestry: Portuguese 18% Lithuanian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.89%
• Current HPI: 187.5518
• 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

+45.3% since first listed

2 events — show timeline

• 2026-05-26 Listed $50,000 FSBO.com
• 2001-01-01 Sold (Public Records) $34,400 Public Records

Property tax history

+13.2%/yr

Latest (2026): $1,308 · -10.8% YoY. Source: county tax records.