820 Mississippi Ave NW · Bemidji, MN 56601

$194,850

3 bd · 1.0 ba · 864 sqft · Other public records · 218 Days on market

Built 1910 0.32 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 +14.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully updated home sits on spacious city lot offering the perfect blend of comfort and character. Main level features stunning tongue-and-groove ceilings and walls adding warmth and texture throughout. Modern kitchen updates (countertops and cabinets) complement the home's classic charm creating and inviting space for everyday living and entertaining. Enjoy ample outdoor space with room to garden, play, or relax-right in the heart of the City. Realtor notes: Home has 4BR and 1BA. New flooring through out the home and an updated bathroom. Insulation was added during the recent remodel. Property can be accessed from either the city street or a rear alley.

Key facts

• Ample outdoor space
• New flooring
• Insulation added

Tags

• TONGUE-AND-GROVE CEILINGS
• MODERN KITCHEN UPDATES
• AMPLE OUTDOOR SPACE
• UPDATED BATHROOM
• NEW FLOORING
• INSULATION ADDED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $195k.

Deal economics

• At list price, monthly cash flow is $24 ($285/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (18.0% below list).
• Recommended offer: $160k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); 345 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.
• Current owner paid $97k; list at $195k implies a 101% 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 $159,782 (18.0% below list)

Questions for the listing agent

1. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 18% 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. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 10.2

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-28,446
• Equity at exit: $29,053

10-year hold

• IRR: -4.3%
• Equity multiple: 0.71×
• Total profit: $-16,052
• Equity at exit: $16,847

Cash invested: $54,558 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$136 /mo · $1,626/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $24

Break-even live

Break-even rent $1,568

Max offer price $194,850

Occupancy floor 94%

Sensitivity live

Price	-10% $134	-5% $79	+0% $24	+5% $-31	+10% $-87
Rent	-10% $-102	-5% $-39	+0% $24	+5% $87	+10% $150
Rate	-1.0pp $122	-0.5pp $73	base $24	+0.5pp $-27	+1.0pp $-78

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: $48,712
• Closing costs: $5,846
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $194,850 Active 218 DOM
2. 2026-06-18
   days on market $194,850 Active 217 DOM
3. 2026-06-17
   days on market $194,850 Active 216 DOM
4. 2026-06-16
   days on market $194,850 Active 215 DOM
5. 2026-06-15
   days on market $194,850 Active 214 DOM
6. 2026-06-14
   days on market $194,850 Active 212 DOM
7. 2026-06-12
   days on market $194,850 Active 211 DOM
8. 2026-06-09
   days on market $194,850 Active 208 DOM
9. 2026-06-08
   days on market $194,850 Active 207 DOM
10. 2026-06-07
    days on market $194,850 Active 206 DOM
11. 2026-06-05
    days on market $194,850 Active 203 DOM
12. 2026-06-02
    days on market $194,850 Active 201 DOM
13. 2026-06-01
    days on market $194,850 Active 200 DOM
14. 2026-05-31
    days on market $194,850 Active 199 DOM
15. 2026-05-30
    days on market $194,850 Active 198 DOM
16. 2026-04-02
    price $194,850 672-char remark

    Show marketing remark (672 chars)

    This beautifully updated home sits on spacious city lot offering the perfect blend of comfort and character. Main level features stunning tongue-and-groove ceilings and walls adding warmth and texture throughout. Modern kitchen updates (countertops and cabinets) complement the home's classic charm creating and inviting space for everyday living and entertaining. Enjoy ample outdoor space with room to garden, play, or relax-right in the heart of the City. Realtor notes: Home has 4BR and 1BA. New flooring through out the home and an updated bathroom. Insulation was added during the recent remodel. Property can be accessed from either the city street or a rear alley.

17. 2025-11-13
    listed $199,800 Active 672-char remark

    Show marketing remark (672 chars)

    This beautifully updated home sits on spacious city lot offering the perfect blend of comfort and character. Main level features stunning tongue-and-groove ceilings and walls adding warmth and texture throughout. Modern kitchen updates (countertops and cabinets) complement the home's classic charm creating and inviting space for everyday living and entertaining. Enjoy ample outdoor space with room to garden, play, or relax-right in the heart of the City. Realtor notes: Home has 4BR and 1BA. New flooring through out the home and an updated bathroom. Insulation was added during the recent remodel. Property can be accessed from either the city street or a rear alley.

18. 2024-08-19
    soldstatus $96,970
19. 2024-08-16
    status Pending 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

20. 2024-08-16
    soldstatus $97,000 Sold 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

21. 2024-07-25
    historical Contingent - Inspection 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

22. 2024-07-23
    price $115,000 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

23. 2024-07-14
    price $125,000 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

24. 2024-06-27
    price $130,000 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

25. 2024-06-17
    price $140,000 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

26. 2024-06-05
    price $144,500 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

27. 2024-05-29
    price $147,000 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

28. 2024-04-25
    listed $160,000 Active 965-char remark

    Show marketing remark (965 chars)

    Seller says "make me an offer"! 4-bedroom, 1-bathroom home is a gem waiting to be discovered. Layout features- 3 Bedrooms upstairs and 1 on the main level. Shingles, Steel Siding, and Vinyl windows installed approx. 5 years ago. Outside, the property adorned with mature trees and perennials, beckons with its spacious yard, sitting on an extra-large double city lot, offering ample space for outdoor activities and relaxation. A garden shed adds functionality to the expansive outdoor area with a cozy patio space off the front door. Driveway is off the main road and access from alleyway also. Convenience is key with this property, situated close to parks, shopping outlets, delectable dining options, the post office, and connected to city services. Everything is just a stone's throw away. With its prime location and untapped potential, this solid home is ready for a new owner to revive the interior feel of this house! The outside is ready to go!

ⓘ 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: $1,626 · $136/mo
• Projected year-2 tax: $1,904 · $159/mo
• Expected delta: +$278/yr (+$23/mo · 17.1%)

ⓘ 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: $19,174
• − Mortgage interest: −$10,915
• − Property taxes: −$1,626
• − Insurance: −$974
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$5,668
• Taxable loss: −$3,077
• Est. tax savings @ 24.0%: +$739
• After-tax cash flow: $1,024/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

+21.8% since first listed

13 events — show timeline

• 2026-04-02 Price Changed $194,850 NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-13 Listed $199,800 NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-19 Sold (Public Records) $96,970 Public Records
• 2024-08-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-16 Sold (MLS) $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-25 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-23 Price Changed $115,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-14 Price Changed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-27 Price Changed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-17 Price Changed $140,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-06-05 Price Changed $144,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-29 Price Changed $147,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-25 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $1,626 · +10.2% YoY. Source: county tax records.