42253 439th Ave · Perham, MN 56573

$235,000

3 bd · 2.0 ba · 2,160 sqft · SingleFamily public records · 16 Days on market

Built 1975 0.74 ac lot ↓ 33% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

Key facts

• Quiet cul-de-sac
• Central air
• Heated workshop area

Tags

• QUIET CUL-DE-SAC
• NATURAL GAS FORCED-AIR HEAT
• CENTRAL AIR
• HEATED WORKSHOP AREA
• MAINTENANCE-FREE DECK

Property features AI

Exterior

• Parking: Attached garage; Concrete driveway; 2-car garage; Garage dimensions 24x48; Garage door 9' wide x 7' high
• Utilities: 4-inch submersible well; Septic system with tank and drainage field (compliant); 200+ amp electrical service; Natural gas; Electric service by Lake Region Electric Co-op
• Home design: Residential property; One level; Above-grade finished area 1,440; Below-grade finished area 520
• Construction: Block and frame construction; Asphalt roof; Block foundation; Foundation area 1,440; Foundation dimensions 48x24 + 12x24; Built with above- and below-grade finished areas (total building area 2,304)
• Exterior features: Vinyl exterior; Deck; Front porch; Additional land available; Light tree coverage; Located on a cul-de-sac; Paved streets; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom; Main floor full bath; Half bath in basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Range; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 6.0% in Perham — 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 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.
• Market conditions: 92 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Recommended offer $231,475 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.33% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.26%
• DSCR: 1.77
• GRM: 6.3

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: 8.6%
• Equity multiple: 1.34×
• Total profit: $22,175
• Equity at exit: $35,039

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $96,855
• Equity at exit: $20,319

Cash invested: $65,800 (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: 92
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,125 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$192 /mo · $2,306/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $946

Break-even live

Break-even rent $1,927

Max offer price $235,000

Occupancy floor 65%

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: $58,750
• Closing costs: $7,050
• 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	43d	1	1.35mi
812 7th St SW Unit B Perham, MN	3.0	2.0	1602	$2,500	$1.56	43d	1	1.35mi

Listing history 16 events

1. 2026-06-17
   statusdays on market $235,000 Pending 16 DOM
2. 2026-05-11
   listed $235,000 Active 862-char remark
3. 2023-09-07
   soldstatus $259,000
4. 2023-09-07
   soldstatus $265,000
5. 2023-09-04
   soldstatus $259,000 Sold 934-char remark

   Show marketing remark (934 chars)

   BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

6. 2023-07-26
   status Pending 934-char remark

   Show marketing remark (934 chars)

   BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

7. 2023-06-28
   price $279,000 934-char remark

   Show marketing remark (934 chars)

   BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

8. 2023-06-09
   price $289,000 934-char remark

   Show marketing remark (934 chars)

   BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

9. 2023-05-15
   price $299,900 934-char remark

   Show marketing remark (934 chars)

   BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

10. 2023-04-27
    price $304,900 934-char remark

    Show marketing remark (934 chars)

    BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

11. 2023-03-03
    listed $309,000 Active 934-char remark

    Show marketing remark (934 chars)

    BRAND NEW WELL AND BRAND NEW SEWER! Two huge expenses have been taken care of for you and will save you massively down the road for many years. This awesome property has so much potential waiting for the new owners to tap into. Huge lot ready for a new shop. Nice two car attached garage with bonus back room for mowers and etc. Currently boasts 3 bedrooms and 2 bathrooms. Upstairs has had a number of updates including bathroom remodel, new carpets in bedrooms, fresh coat of paint, and more. Newer appliances, newer water heater, and newer roof. All the items that can cause a new homeowner or first time home buyer great distress are taken care of already. Fantastic location in a quaint neighborhood just a minute from downtown Perham. Conveniently located near highway 10 if you happen to be one of the many many commuters in the area. With extremely low inventory don't miss on this opportunity. Come see it today!

12. 2023-01-31
    historical
13. 2022-10-29
    price $318,900
14. 2022-10-17
    price $325,000
15. 2022-09-30
    price $339,000
16. 2022-09-23
    listed $349,000 Active

ⓘ 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: $2,306 · $192/mo
• Projected year-2 tax: $2,469 · $206/mo
• Expected delta: +$163/yr (+$14/mo · 7.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 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: −$13,164
• − Property taxes: −$2,306
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$6,836
• Taxable income: $8,019
• Est. tax owed @ 24.0%: −$1,925
• After-tax cash flow: $9,431/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: 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

• 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

-32.7% since first listed

16 events — show timeline

• 2026-06-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Listed $235,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-09-07 Sold (Public Records) $265,000 Public Records
• 2023-09-07 Sold (Public Records) $259,000 Public Records
• 2023-09-04 Sold (MLS) $259,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-07-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-28 Price Changed $279,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-09 Price Changed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-05-15 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-04-27 Price Changed $304,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-03-03 Listed $309,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-01-31 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-29 Price Changed $318,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-17 Price Changed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-30 Price Changed $339,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-23 Listed $349,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $2,306 · -8.3% YoY. Source: county tax records.