412 4th St NW · Big Falls, MN 56627

$89,900

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 37 Days on market

Built 1950 10,454 sqft lot

---

Why this score? — see what drove the C+ 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2-bedroom, 1-bath home sits on a desirable corner lot, offering fantastic opportunity for an investor or DIY enthusiast! With updated windows and a durable metal roof. The property also includes a spacious 24x32 two-stall garage. Located in a prime recreational area near the Bigfork River, perfect for kayaking and fishing. Plus, with thousands of acres of public land nearby, you'll have easy access to hiking, ATV and snowmobile routes - making it an ideal spot for outdoor enthusiasts. Sold as-is. Bring your ideas and make it yours today!

Key facts

• Remodeled
• Near bigfork river
• Metal roof

Tags

• REMODELED
• UPDATED INTERIOR
• METAL ROOF
• CORNER LOT
• DETACHED GARAGE
• NEAR BIGFORK RIVER

Property features AI

Finance

• Other: Lot approximately 0.24 acres (about 145 x 75)

Exterior

• Parking: Detached or attached 2-car garage (31 x 23)
• Utilities: City water connected; City sewer connected; Propane fuel; 200+ amp electrical service with circuit breakers
• Home design: Residential property; One story
• Construction: Frame construction; Metal roof; Wood foundation; Built on a 33 x 27 foundation area; Main level finished area 891
• Exterior features: Metal exterior

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; No central air
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/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 $88k (2.5% below list).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#857 in MN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D, health & safety D, schools F.
• Littlefork-Big Falls School District (rural): math 55% / reading 60% proficiency, ranked #198 of 467 in MN (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 26 units permitted in Koochiching County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Koochiching County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $18k; list at $90k implies a 414% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 8.5

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: 14.4%
• Equity multiple: 1.82×
• Total profit: $20,743
• Equity at exit: $40,423

10-year hold

• IRR: 16.2%
• Equity multiple: 3.38×
• Total profit: $59,855
• Equity at exit: $62,297

Cash invested: $25,172 (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 56627

• Active inventory: 2
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$28 /mo · $330/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $156

Break-even live

Break-even rent $679

Max offer price $89,900

Occupancy floor 77%

Sensitivity live

Price	-10% $207	-5% $182	+0% $156	+5% $131	+10% $105
Rent	-10% $87	-5% $122	+0% $156	+5% $191	+10% $226
Rate	-1.0pp $202	-0.5pp $179	base $156	+0.5pp $133	+1.0pp $109

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $89,900 Active 37 DOM
2. 2026-06-17
   days on market $89,900 Active 36 DOM
3. 2026-06-16
   days on market $89,900 Active 35 DOM
4. 2026-06-15
   days on market $89,900 Active 34 DOM
5. 2026-06-13
   days on market $89,900 Active 32 DOM
6. 2026-06-12
   days on market $89,900 Active 31 DOM
7. 2026-06-09
   days on market $89,900 Active 28 DOM
8. 2026-06-08
   days on market $89,900 Active 27 DOM
9. 2026-06-07
   days on market $89,900 Active 26 DOM
10. 2026-06-05
    days on market $89,900 Active 24 DOM
11. 2026-06-04
    days on market $89,900 Active 22 DOM
12. 2026-06-02
    days on market $89,900 Active 21 DOM
13. 2026-06-01
    days on market $89,900 Active 20 DOM
14. 2026-05-31
    days on market $89,900 Active 19 DOM
15. 2026-05-31
    days on market $89,900 Active 18 DOM
16. 2026-05-12
    listed $89,900 Active 586-char remark
17. 2025-04-04
    soldstatus $17,500 Sold 549-char remark

    Show marketing remark (549 chars)

    This 2-bedroom, 1-bath home sits on a desirable corner lot, offering fantastic opportunity for an investor or DIY enthusiast! With updated windows and a durable metal roof. The property also includes a spacious 24x32 two-stall garage. Located in a prime recreational area near the Bigfork River, perfect for kayaking and fishing. Plus, with thousands of acres of public land nearby, you'll have easy access to hiking, ATV and snowmobile routes - making it an ideal spot for outdoor enthusiasts. Sold as-is. Bring your ideas and make it yours today!

18. 2025-03-28
    status Pending 549-char remark

    Show marketing remark (549 chars)

    This 2-bedroom, 1-bath home sits on a desirable corner lot, offering fantastic opportunity for an investor or DIY enthusiast! With updated windows and a durable metal roof. The property also includes a spacious 24x32 two-stall garage. Located in a prime recreational area near the Bigfork River, perfect for kayaking and fishing. Plus, with thousands of acres of public land nearby, you'll have easy access to hiking, ATV and snowmobile routes - making it an ideal spot for outdoor enthusiasts. Sold as-is. Bring your ideas and make it yours today!

19. 2025-03-12
    historical Contingent - Third Party Approval 549-char remark

    Show marketing remark (549 chars)

    This 2-bedroom, 1-bath home sits on a desirable corner lot, offering fantastic opportunity for an investor or DIY enthusiast! With updated windows and a durable metal roof. The property also includes a spacious 24x32 two-stall garage. Located in a prime recreational area near the Bigfork River, perfect for kayaking and fishing. Plus, with thousands of acres of public land nearby, you'll have easy access to hiking, ATV and snowmobile routes - making it an ideal spot for outdoor enthusiasts. Sold as-is. Bring your ideas and make it yours today!

20. 2025-03-03
    listed $17,500 Active 549-char remark

    Show marketing remark (549 chars)

    This 2-bedroom, 1-bath home sits on a desirable corner lot, offering fantastic opportunity for an investor or DIY enthusiast! With updated windows and a durable metal roof. The property also includes a spacious 24x32 two-stall garage. Located in a prime recreational area near the Bigfork River, perfect for kayaking and fishing. Plus, with thousands of acres of public land nearby, you'll have easy access to hiking, ATV and snowmobile routes - making it an ideal spot for outdoor enthusiasts. Sold as-is. Bring your ideas and make it yours today!

21. 2003-10-01
    soldstatus $10,000
22. 2001-04-01
    soldstatus $9,000
23. 2000-04-01
    soldstatus $8,500

ⓘ 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: $330 · $28/mo
• Projected year-2 tax: $668 · $56/mo
• Expected delta: +$338/yr (+$28/mo · 102.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,521
• − Mortgage interest: −$5,036
• − Property taxes: −$330
• − Insurance: −$450
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$2,615
• Taxable income: $407
• Est. tax owed @ 24.0%: −$98
• After-tax cash flow: $1,777/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: Littlefork-Big Falls School District
• NCES district ID: 2718270
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 60% ▬ 0.00%
• Median HH income: $43,157
• Composite: 50.05/100
• National rank: #4122
• State rank: #198 of 467 in MN

Livability — Big Falls

• Score: 55/100
• State rank: #857
• US rank: #23489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Falls, MN
• Population (ZIP): 215

Population outlook (Koochiching County) Hauer SSP2

• Today (2025): 11,977 people
• By 2030: 11,406 · -4.8%
• By 2040: 10,045 · -16.1%
• By 2050: 8,746 · -27.0%
• By 2075: 6,363 · -46.9%
• By 2100: 4,275 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 15%
• Common ancestry: Portuguese 26% Lithuanian 7% Scottish 3%
• Foreign-born: 2% · Canada

Political lean MEDSL · Koochiching

• 2024 margin: Strong R (+25.7) · D 36.4% · R 62.0% · Other 1.6%
• 2008→2024 swing: -35.8pp toward R · 2008: 10.1pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+21.3 2016: R+20.0 2012: D+9.5 2008: D+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+957.6% since first listed

8 events — show timeline

• 2026-05-12 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-04 Sold (MLS) $17,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-28 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-03 Listed $17,500 NORTHSTARMLS as Distributed by MLS Grid
• 2003-10-01 Sold (Public Records) $10,000 Public Records
• 2001-04-01 Sold (Public Records) $9,000 Public Records
• 2000-04-01 Sold (Public Records) $8,500 Public Records

Property tax history

+0.7%/yr

Latest (2026): $330 · -53.0% YoY. Source: county tax records.