421 West Ave · Detroit Lakes, MN 56501

$299,900

2 bd · 2.0 ba · 2,048 sqft · SingleFamily public records · 88 Days on market

Built 1967 9,147 sqft lot $146/sqft · 11% below area Est $330k · 9% under

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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 +14.6/30.0
• ARV discount +11.6/15.0
• DSCR +4.5/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOOOW! this totally remodeled 4 bedroom 3 full bath home, which includes a private owners suite with a full bath and walk-in closet is yours for a very affordable price. Situated in a private part of town on a corner lot with a very nice sized yard. The custom built kitchen cabinets and countertop are new with the remodel. Call today for a showing before it is gone!

Key facts

• Private owners suite
• Nice sized yard
• Walk-in closet

Tags

• PRIVATE OWNERS SUITE
• WALK-IN CLOSET
• CUSTOM BUILT KITCHEN CABINETS
• CORNER LOT
• NICE SIZED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $74 ($887/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 $260k (13.4% below list).
• Recommended offer: $260k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.2% in Detroit Lakes — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#78 in MN, #1,847 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Detroit Lakes Public School District (town): math 44% / reading 50% proficiency, ranked #155 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rossman Elementary (math 64% / reading 55%, grade B-, #216 of 857 statewide, top 29%, 573 students, 40% FRL); Detroit Lakes Middle (math 29% / reading 42%, grade F, #172 of 258 statewide, top 68%, 596 students, 46% FRL); Detroit Lakes Senior High (math 52% / reading 57%, grade C-, #87 of 471 statewide, top 22%, 865 students, 37% FRL).
• Market conditions: 307 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 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 $9k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $135k; list at $300k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $259,838 (13.4% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. 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: 0.87% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.6

CMA / ARV

• ARV (median comp): $330,225
• List price: $299,900
• Delta: -9.18%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-43,909
• Equity at exit: $44,716

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-32,250
• Equity at exit: $25,930

Cash invested: $83,972 (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 56501

• Active inventory: 307
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,598 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$281 /mo · $3,374/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $74

Break-even live

Break-even rent $2,505

Max offer price $299,900

Occupancy floor 92%

Sensitivity live

Price	-10% $244	-5% $159	+0% $74	+5% $-11	+10% $-96
Rent	-10% $-131	-5% $-29	+0% $74	+5% $177	+10% $279
Rate	-1.0pp $225	-0.5pp $150	base $74	+0.5pp $-4	+1.0pp $-83

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-16
   days on market $299,900 Active 88 DOM
2. 2026-06-15
   days on market $299,900 Active 87 DOM
3. 2026-06-13
   days on market $299,900 Active 85 DOM
4. 2026-06-12
   days on market $299,900 Active 84 DOM
5. 2026-06-09
   days on market $299,900 Active 81 DOM
6. 2026-06-08
   days on market $299,900 Active 80 DOM
7. 2026-06-07
   days on market $299,900 Active 79 DOM
8. 2026-06-07
   days on market $299,900 Active 78 DOM
9. 2026-06-04
   days on market $299,900 Active 75 DOM
10. 2026-06-02
    days on market $299,900 Active 74 DOM
11. 2026-06-01
    days on market $299,900 Active 73 DOM
12. 2026-05-31
    days on market $299,900 Active 72 DOM
13. 2026-05-31
    days on market $299,900 Active 71 DOM
14. 2026-05-06
    status Active 368-char remark

    Show marketing remark (368 chars)

    WOOOW! this totally remodeled 4 bedroom 3 full bath home, which includes a private owners suite with a full bath and walk-in closet is yours for a very affordable price. Situated in a private part of town on a corner lot with a very nice sized yard. The custom built kitchen cabinets and countertop are new with the remodel. Call today for a showing before it is gone!

15. 2026-05-02
    historical 368-char remark

    Show marketing remark (368 chars)

    WOOOW! this totally remodeled 4 bedroom 3 full bath home, which includes a private owners suite with a full bath and walk-in closet is yours for a very affordable price. Situated in a private part of town on a corner lot with a very nice sized yard. The custom built kitchen cabinets and countertop are new with the remodel. Call today for a showing before it is gone!

16. 2026-03-16
    listed $299,900 Active 368-char remark

    Show marketing remark (368 chars)

    WOOOW! this totally remodeled 4 bedroom 3 full bath home, which includes a private owners suite with a full bath and walk-in closet is yours for a very affordable price. Situated in a private part of town on a corner lot with a very nice sized yard. The custom built kitchen cabinets and countertop are new with the remodel. Call today for a showing before it is gone!

17. 2018-07-25
    soldstatus $135,100
18. 2018-07-23
    soldstatus $135,000 333-char remark

    Show marketing remark (333 chars)

    Newly renovated home on private city lot. Main floor has 3 beds, 1 bath, new flooring and paint. Lower level includes family room, full bath, & 2 rooms (potential bedrooms-need egress windows). Lower level also includes kitchen hookups and separate entrance for possible rental property. So many possibilities with this property.

19. 2018-07-23
    soldstatus $135,000

    Show marketing remark (333 chars)

    Newly renovated home on private city lot. Main floor has 3 beds, 1 bath, new flooring and paint. Lower level includes family room, full bath, & 2 rooms (potential bedrooms-need egress windows). Lower level also includes kitchen hookups and separate entrance for possible rental property. So many possibilities with this property.

20. 2018-03-27
    listed $169,000 333-char remark

    Show marketing remark (333 chars)

    Newly renovated home on private city lot. Main floor has 3 beds, 1 bath, new flooring and paint. Lower level includes family room, full bath, & 2 rooms (potential bedrooms-need egress windows). Lower level also includes kitchen hookups and separate entrance for possible rental property. So many possibilities with this property.

21. 2018-03-27
    listed $169,000

    Show marketing remark (333 chars)

    Newly renovated home on private city lot. Main floor has 3 beds, 1 bath, new flooring and paint. Lower level includes family room, full bath, & 2 rooms (potential bedrooms-need egress windows). Lower level also includes kitchen hookups and separate entrance for possible rental property. So many possibilities with this property.

ⓘ 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: $3,374 · $281/mo
• Projected year-2 tax: $3,374 · $281/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,181
• − Mortgage interest: −$16,799
• − Property taxes: −$3,374
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,494
• − Management: −$2,494
• − Depreciation: −$8,724
• Taxable loss: −$4,205
• Est. tax savings @ 24.0%: +$1,009
• After-tax cash flow: $1,896/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: Detroit Lakes Public School District
• NCES district ID: 2710230
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $50,571
• Composite: 40.33/100
• National rank: #3746
• State rank: #155 of 301 in MN

Livability — Detroit Lakes

• Score: 80/100
• State rank: #78
• US rank: #1847

Category grades

Amenities F Commute F Cost of living A Crime B+ Employment C+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit Lakes, MN
• City population: 18,239
• Population (ZIP): 18,239

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Native American 2%
• Common ancestry: Portuguese 25% Scottish 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.40%
• Current HPI: 217.4973
• 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

+77.5% since first listed

8 events — show timeline

• 2026-05-06 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-16 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-25 Sold (Public Records) $135,100 Public Records
• 2018-07-23 Sold (MLS) $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-23 Sold (MLS) $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-27 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-03-27 Listed $169,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+10.5%/yr

Latest (2025): $3,374 · +3.1% YoY. Source: county tax records.