117 E Maple Ave · Frazee, MN 56544

$125,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 355 Days on market

Built 1905 10,454 sqft 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 +13.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bed 1 bath house is walking distance to downtown Frazee and just a short drive to Detroit Lakes for all your other shopping needs. It has a huge back yard fenced in with two storage sheds and an adorable front porch. Main floor bedroom, bathroom, and laundry for convenience. Upstairs are an additional two bedrooms. Kitchen has updated cabinets and center island. At such an affordable price there is plenty of room for any updates and to make it your own. Come take a look!

Key facts

• Adorable front porch
• Updated cabinets
• Fenced in

Tags

• HUGE BACK YARD
• FENCED IN
• TWO STORAGE SHEDS
• ADORABLE FRONT PORCH
• UPDATED CABINETS
• CENTER ISLAND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-1 ($-9/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (23.1% below list).
• Recommended offer: $96k (23.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#135 in MN, #3,013 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Frazee-Vergas Public School District (rural): math 39% / reading 47% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frazee Elementary (math 48% / reading 49%, grade D, #480 of 857 statewide, top 56%, 457 students, 53% FRL); Frazee Secondary (math 22% / reading 42%, grade F, #335 of 471 statewide, top 73%, 391 students, 45% FRL) — zoned schools average 49% FRL vs 33% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 74 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 355 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $100k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,122 (23.1% 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 355 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.77% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.03%
• DSCR: 1.00
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $67,982
• Equity at exit: $112,610

10-year hold

• IRR: 21.5%
• Equity multiple: 6.72×
• Total profit: $200,136
• Equity at exit: $242,848

Cash invested: $35,000 (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 56544

• Home prices YoY: 7.4%
• Active inventory: 74
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $961 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$52 /mo · $630/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $-1

Break-even live

Break-even rent $962

Max offer price $124,870

Occupancy floor 95%

Sensitivity live

Price	-10% $70	-5% $35	+0% $-1	+5% $-36	+10% $-71
Rent	-10% $-77	-5% $-39	+0% $-1	+5% $37	+10% $75
Rate	-1.0pp $62	-0.5pp $31	base $-1	+0.5pp $-33	+1.0pp $-66

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $125,000 Active 355 DOM
2. 2026-06-21
   days on market $125,000 Active 354 DOM
3. 2026-06-18
   days on market $125,000 Active 352 DOM
4. 2026-06-17
   days on market $125,000 Active 351 DOM
5. 2026-06-16
   days on market $125,000 Active 350 DOM
6. 2026-06-15
   days on market $125,000 Active 349 DOM
7. 2026-06-13
   days on market $125,000 Active 347 DOM
8. 2026-06-12
   days on market $125,000 Active 346 DOM
9. 2026-06-09
   days on market $125,000 Active 343 DOM
10. 2026-06-08
    days on market $125,000 Active 342 DOM
11. 2026-06-07
    days on market $125,000 Active 341 DOM
12. 2026-06-05
    days on market $125,000 Active 339 DOM
13. 2026-06-04
    days on market $125,000 Active 337 DOM
14. 2026-06-02
    days on market $125,000 Active 336 DOM
15. 2026-06-01
    days on market $125,000 Active 335 DOM
16. 2026-05-31
    days on market $125,000 Active 334 DOM
17. 2026-05-31
    days on market $125,000 Active 333 DOM
18. 2025-10-07
    price $125,000 482-char remark

    Show marketing remark (482 chars)

    This 3 bed 1 bath house is walking distance to downtown Frazee and just a short drive to Detroit Lakes for all your other shopping needs. It has a huge back yard fenced in with two storage sheds and an adorable front porch. Main floor bedroom, bathroom, and laundry for convenience. Upstairs are an additional two bedrooms. Kitchen has updated cabinets and center island. At such an affordable price there is plenty of room for any updates and to make it your own. Come take a look!

19. 2025-07-22
    price $127,000 482-char remark

    Show marketing remark (482 chars)

    This 3 bed 1 bath house is walking distance to downtown Frazee and just a short drive to Detroit Lakes for all your other shopping needs. It has a huge back yard fenced in with two storage sheds and an adorable front porch. Main floor bedroom, bathroom, and laundry for convenience. Upstairs are an additional two bedrooms. Kitchen has updated cabinets and center island. At such an affordable price there is plenty of room for any updates and to make it your own. Come take a look!

20. 2025-06-30
    listed $130,000 Active 482-char remark

    Show marketing remark (482 chars)

    This 3 bed 1 bath house is walking distance to downtown Frazee and just a short drive to Detroit Lakes for all your other shopping needs. It has a huge back yard fenced in with two storage sheds and an adorable front porch. Main floor bedroom, bathroom, and laundry for convenience. Upstairs are an additional two bedrooms. Kitchen has updated cabinets and center island. At such an affordable price there is plenty of room for any updates and to make it your own. Come take a look!

21. 2022-09-15
    soldstatus $100,000
22. 2022-09-09
    soldstatus $100,000 Sold 341-char remark

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

23. 2022-09-09
    soldstatus $100,000

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

24. 2022-08-08
    status Pending 341-char remark

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

25. 2022-07-30
    price $120,000 341-char remark

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

26. 2022-07-26
    price $128,900 341-char remark

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

27. 2022-07-12
    listed $131,900 Active 341-char remark

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

28. 2022-07-12
    listed $120,000

    Show marketing remark (341 chars)

    With this affordable 3-bed house you'll enjoy small town living in lakes country and just down the road from Detroit Lakes for all your other needs! This home boasts central air, gas-forced heating, poured foundation, a large fully fenced yard with 2 sheds, and so much more! Schedule your showing and come take a look today before its gone!

29. 2018-11-26
    soldstatus $71,000
30. 2010-05-23
    listed $79,900
31. 2007-09-28
    soldstatus $60,800
32. 2004-06-17
    soldstatus $18,000
33. 1998-12-05
    soldstatus $7,000

ⓘ 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: $630 · $52/mo
• Projected year-2 tax: $1,015 · $85/mo
• Expected delta: +$385/yr (+$32/mo · 61.1%)

ⓘ 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 4/10 Moderate
• 🌡 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,535
• − Mortgage interest: −$7,002
• − Property taxes: −$630
• − Insurance: −$625
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$3,636
• Taxable loss: −$2,204
• Est. tax savings @ 24.0%: +$529
• After-tax cash flow: $520/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: Frazee-Vergas Public School District
• NCES district ID: 2712360
• Math proficiency: 39% ▼ -16.00%
• Reading proficiency: 47% ▼ -15.00%
• Median HH income: $50,634
• Composite: 37.01/100
• National rank: #4521
• State rank: #196 of 301 in MN

Livability — Frazee

• Score: 77/100
• State rank: #135
• US rank: #3013

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frazee, MN
• Population (ZIP): 5,609

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Black 3% Hispanic / Latino 2% Native American 2%
• Common ancestry: Portuguese 14% Lithuanian 4% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▲ 18.76%
• Current HPI: 270.91
• 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

+1685.7% since first listed

16 events — show timeline

• 2025-10-07 Price Changed $125,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-22 Price Changed $127,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-30 Listed $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-15 Sold (Public Records) $100,000 Public Records
• 2022-09-09 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-09 Sold (MLS) $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-30 Price Changed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-26 Price Changed $128,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-12 Listed $120,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-12 Listed $131,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-11-26 Sold (Public Records) $71,000 Public Records
• 2010-05-23 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-09-28 Sold (Public Records) $60,800 Public Records
• 2004-06-17 Sold (Public Records) $18,000 Public Records
• 1998-12-05 Sold (Public Records) $7,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $630 · -5.4% YoY. Source: county tax records.