1035 West Ave · Detroit Lakes, MN 56501

$180,000

2 bd · 1.0 ba · 588 sqft · SingleFamily public records · 17 Days on market

Built 1910 0.26 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BACK ON THE MARKET! This is the home you’ve been waiting for! This fantastic 3-bedroom, 1.5-story home is move-in ready and packed with charm, character, and updates throughout! The open kitchen and dining area serve as the heart of the home, featuring newer appliances, fresh paint, and a functional layout ideal for everyday living and hosting. The spacious living room is filled with natural light from the large windows, creating a warm and inviting feel the moment you walk in. You’ll love the enclosed front and back porches, offering cozy sunroom spaces perfect for morning coffee, curling up with a good book, relaxing at the end of the day, or adding extra storage and mudroom s

Key facts

• 0.26 acre lot
• Built 1910
• Listed 17 days

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One-and-a-half story; Entry level main floor
• Construction: Block foundation; Basement: block, unfinished; Foundation area noted
• Exterior features: Vinyl exterior; Deck; Lot approximately 75 x 150

Interior

• Kitchen: Kitchen with center island; Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: 3 bedrooms (two on upper level, one on main level)
• Bathrooms: 1 full bathroom on the main floor
• Heating & cooling: Forced air heating; No central air
• Interior features: Three-season porch; Dining room; Living room; Storage space in basement
• Laundry & utility: Washer and dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $947 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 5.2% in Detroit Lakes — 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 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $86k; list at $180k implies a 110% 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: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.51% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.56%
• DSCR: 2.00
• GRM: 5.5

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $31,188
• Equity at exit: $26,839

10-year hold

• IRR: 24.1%
• Equity multiple: 3.08×
• Total profit: $104,925
• Equity at exit: $15,563

Cash invested: $50,400 (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: 5.5×

Monthly cashflow live

• Estimated rent: $2,725 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$186 /mo · $2,236/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $947

Break-even live

Break-even rent $1,526

Max offer price $180,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,049	-5% $998	+0% $947	+5% $896	+10% $845
Rent	-10% $732	-5% $840	+0% $947	+5% $1,055	+10% $1,163
Rate	-1.0pp $1,038	-0.5pp $993	base $947	+0.5pp $901	+1.0pp $853

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $180,000 Contingent - Inspection 17 DOM
2. 2026-06-21
   statusdays on market $180,000 Contingent - Inspection 16 DOM
3. 2026-06-18
   status $180,000 Active 14 DOM
4. 2026-05-22
   status Pending
5. 2026-05-12
   historical Contingent - Inspection
6. 2026-05-08
   listed $180,000 Active
7. 2011-10-21
   soldstatus $85,900
8. 2008-05-30
   soldstatus $69,900
9. 1998-09-08
   soldstatus $20,000

ⓘ 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: $2,236 · $186/mo
• Projected year-2 tax: $2,236 · $186/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: $32,698
• − Mortgage interest: −$10,083
• − Property taxes: −$2,236
• − Insurance: −$900
• − Repairs & maintenance: −$2,616
• − Management: −$2,616
• − Depreciation: −$5,236
• Taxable income: $9,012
• Est. tax owed @ 24.0%: −$2,163
• After-tax cash flow: $9,206/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

+800.0% since first listed

6 events — show timeline

• 2026-05-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $180,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-21 Sold (Public Records) $85,900 Public Records
• 2008-05-30 Sold (Public Records) $69,900 Public Records
• 1998-09-08 Sold (Public Records) $20,000 Public Records

Property tax history

+14.0%/yr

Latest (2025): $2,236 · +2.5% YoY. Source: county tax records.