765 Adams Ave SW · Grant Valley, MN 56601

$299,900

2 bd · 1.0 ba · 2,704 sqft · SingleFamily public records · 38 Days on market

Built 1992 1.69 ac lot $111/sqft · 21% below area Est $363k · 17% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Cash flow +4.6/30.0
• Schools +3.9/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The PERFECT house in the PERFECT location!! This wonderful 4 bedroom, 2 bath home sits on a great wooded lot that is a garden lovers paradise, with a large variety of plantings, trees and gardens. New roof, flooring, light fixtures and great storage are just some of the features this home has to offer. Put this together with a location that is close to schools and town but has that private, country feel, you really do have the PERFECT home!!!

Key facts

• Outdoor pool
• Hot tub
• Large lot

Tags

• OUTDOOR POOL
• HOT TUB
• LARGE LOT
• BACKYARD SHEDS

Property features AI

Finance

• Other: Lot approximately 1.69 acres (dimensions ~179 x 406) with paved, public-maintained township streets

Exterior

• Parking: Asphalt driveway; 3-car garage
• Utilities: 4-inch submersible well; Private sewer; Electric service by Beltrami Electric Cooperative; Electric fuel
• Home design: Residential property; Three-level split; Entry level: main level
• Construction: Frame construction; Block foundation; Roof older than 8 years
• Exterior features: Vinyl siding; Storage shed; Medium tree coverage

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: Main floor full bathroom; Basement 3/4 bathroom
• Heating & cooling: Baseboard heating; Wood stove heating; Ductless mini-split cooling
• Interior features: Informal dining area; Finished basement; Wood burning stove fireplace (1)
• Laundry & utility: Laundry on lower level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-754 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (44.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (50.4% below list).
• Recommended offer: $149k (50.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Bemidji Public School District (rural): math 42% / reading 50% proficiency, ranked #173 of 301 in MN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Horace May Elementary (math 47% / reading 32%, grade F, #604 of 857 statewide, top 74%, 316 students, 45% FRL); Bemidji Middle (math 37% / reading 46%, grade F, #138 of 258 statewide, top 55%, 1,013 students, 48% FRL); Bemidji Senior High (math 47% / reading 67%, grade C, #64 of 471 statewide, top 16%, 1,432 students, 38% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: Rents rising fast (+4.0%/yr); 346 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; list at $300k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $148,760 (50.4% 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 38 days. Have you received any prior offers? Is the seller open to a 50% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.50% ✗
• Cap rate: 3.28%
• Cash-on-cash: -10.77%
• DSCR: 0.52
• GRM: 16.8

CMA / ARV

• ARV (median comp): $362,930
• List price: $299,900
• Delta: -17.37%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -34.9%
• Equity multiple: -0.13×
• Total profit: $-95,130
• Equity at exit: $44,716

10-year hold

• IRR: -40.5%
• Equity multiple: -0.65×
• Total profit: $-138,464
• 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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 346
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$231 /mo · $2,776/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $-754

Break-even live

Break-even rent $2,442

Max offer price $166,739

Occupancy floor —

Sensitivity live

Price	-10% $-584	-5% $-669	+0% $-754	+5% $-839	+10% $-924
Rent	-10% $-871	-5% $-813	+0% $-754	+5% $-695	+10% $-636
Rate	-1.0pp $-603	-0.5pp $-678	base $-754	+0.5pp $-832	+1.0pp $-911

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 25 events

1. 2026-06-21
   days on market $299,900 Active 38 DOM
2. 2026-06-19
   days on market $299,900 Active 36 DOM
3. 2026-06-18
   days on market $299,900 Active 35 DOM
4. 2026-06-17
   days on market $299,900 Active 34 DOM
5. 2026-06-16
   days on market $299,900 Active 33 DOM
6. 2026-06-15
   days on market $299,900 Active 32 DOM
7. 2026-06-14
   days on market $299,900 Active 30 DOM
8. 2026-06-12
   days on market $299,900 Active 29 DOM
9. 2026-06-09
   days on market $299,900 Active 26 DOM
10. 2026-06-08
    days on market $299,900 Active 25 DOM
11. 2026-06-07
    pricedays on market $299,900 Active 24 DOM
12. 2026-06-05
    remarks 699-char remark
13. 2026-06-05
    days on market $319,900 Active 21 DOM
14. 2026-06-02
    days on market $319,900 Active 19 DOM
15. 2026-06-01
    days on market $319,900 Active 18 DOM
16. 2026-05-31
    days on market $319,900 Active 17 DOM
17. 2026-05-30
    days on market $319,900 Active 16 DOM
18. 2026-05-14
    listed $319,900 Active 681-char remark
19. 2017-06-19
    soldstatus $190,000
20. 2017-06-16
    soldstatus $190,000 449-char remark

    Show marketing remark (449 chars)

    The PERFECT house in the PERFECT location!! This wonderful 4 bedroom, 2 bath home sits on a great wooded lot that is a garden lovers paradise, with a large variety of plantings, trees and gardens. New roof, flooring, light fixtures and great storage are just some of the features this home has to offer. Put this together with a location that is close to schools and town but has that private, country feel, you really do have the PERFECT home!!!

21. 2017-04-10
    listed $189,900 449-char remark

    Show marketing remark (449 chars)

    The PERFECT house in the PERFECT location!! This wonderful 4 bedroom, 2 bath home sits on a great wooded lot that is a garden lovers paradise, with a large variety of plantings, trees and gardens. New roof, flooring, light fixtures and great storage are just some of the features this home has to offer. Put this together with a location that is close to schools and town but has that private, country feel, you really do have the PERFECT home!!!

22. 2013-04-16
    soldstatus $159,900
23. 2013-04-15
    soldstatus $159,900

    Show marketing remark (97 chars)

    Quality, well built home located near high school. 4 bedroom, 2 bath home set on a beautiful lot.

24. 2013-02-25
    listed $169,900

    Show marketing remark (97 chars)

    Quality, well built home located near high school. 4 bedroom, 2 bath home set on a beautiful lot.

25. 2013-02-25
    listed $169,900

    Show marketing remark (97 chars)

    Quality, well built home located near high school. 4 bedroom, 2 bath home set on a beautiful lot.

ⓘ 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: $2,776 · $231/mo
• Projected year-2 tax: $3,067 · $256/mo
• Expected delta: +$291/yr (+$24/mo · 10.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,851
• − Mortgage interest: −$16,799
• − Property taxes: −$2,776
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$8,724
• Taxable loss: −$14,804
• Est. tax savings @ 24.0%: +$3,553
• After-tax cash flow: $-5,493/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: Bemidji Public School District
• NCES district ID: 2704440
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $47,735
• Composite: 39.22/100
• National rank: #4013
• State rank: #173 of 301 in MN

Livability — Grant Valley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Beltrami County · 34,784 people
• Metro: Bemidji, MN
• Population (ZIP): 34,784
• Household income: $72,262
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 940.0

Population outlook (Beltrami County) Hauer SSP2

• Today (2025): 46,437 people
• By 2030: 46,736 · +0.6%
• By 2040: 46,804 · +0.8%
• By 2050: 46,299 · -0.3%
• By 2075: 44,037 · -5.2%
• By 2100: 38,567 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Native American 8% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Beltrami

• 2024 margin: Lean R (+5.7) · D 46.3% · R 52.0% · Other 1.7%
• 2008→2024 swing: -15.8pp toward R · 2008: 10.2pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.1 2016: R+9.8 2012: D+9.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.95%
• Current HPI: 261.5734
• Rent YoY: ▲ 4.02%
• Metro: Bemidji, MN
• 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

+76.5% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-14 Listed $319,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-06-19 Sold (Public Records) $190,000 Public Records
• 2017-06-16 Sold (MLS) $190,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-04-10 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-16 Sold (Public Records) $159,900 Public Records
• 2013-04-15 Sold (MLS) $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-02-25 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-02-25 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.9%/yr

Latest (2023): $2,776 · +9.6% YoY. Source: county tax records.