620 5th Ave · International Falls, MN 56649

$100,000

12 bd · 9.0 ba · 992 sqft · Other public records · 88 Days on market

Built 1940 3,484 sqft lot

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity in International Falls! This well-positioned triplex offers strong income potential with all three units currently rented, making it a turnkey addition to any portfolio. The main level unit features a spacious 2 bedroom, 1 bath layout complete with in-unit washer and dryer—highly desirable for long-term tenants. The two upper units each offer comfortable 1 bedroom layouts with 3/4 baths, providing efficient and low-maintenance living spaces. The property includes an unfinished basement housing utilities, with excellent potential to finish and add an additional unit or expand income possibilities. Off-street parking adds convenience for tenants, increasing overall rental appeal. Whether you’re looking to expand your portfolio or step into multi-family investing, this property delivers consistent cash flow and future upside. Owner is a licensed real estate agent in the state of Minnesota.

Key facts

• Unfinished basement
• Off-street parking
• 3,484 sq ft lot

Tags

• IN-UNIT WASHER AND DRYER
• OFF-STREET PARKING
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 12-bed/9.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.5% in International Falls — 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 73/100 on livability (#242 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• International Falls School District (town): math 40% / reading 45% proficiency, ranked #211 of 301 in MN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 active listings in the ZIP; 26 units permitted in Koochiching County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Koochiching County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 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 $55k; list at $100k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,000 (6.0% 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 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Crime grade is F 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: 1.18% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.77%
• DSCR: 1.48
• GRM: 7.1

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-183
• Equity at exit: $14,910

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $20,501
• Equity at exit: $8,646

Cash invested: $28,000 (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 56649

• Home prices YoY: -22.7%
• Active inventory: 71
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$114 /mo · $1,362/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $251

Break-even live

Break-even rent $860

Max offer price $100,000

Occupancy floor 74%

Sensitivity live

Price	-10% $308	-5% $280	+0% $251	+5% $223	+10% $195
Rent	-10% $158	-5% $205	+0% $251	+5% $298	+10% $344
Rate	-1.0pp $302	-0.5pp $277	base $251	+0.5pp $225	+1.0pp $199

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $100,000 Active 88 DOM
2. 2026-06-18
   days on market $100,000 Active 86 DOM
3. 2026-06-17
   days on market $100,000 Active 85 DOM
4. 2026-06-16
   days on market $100,000 Active 84 DOM
5. 2026-06-15
   days on market $100,000 Active 83 DOM
6. 2026-06-13
   days on market $100,000 Active 81 DOM
7. 2026-06-12
   days on market $100,000 Active 80 DOM
8. 2026-06-09
   days on market $100,000 Active 77 DOM
9. 2026-06-08
   days on market $100,000 Active 76 DOM
10. 2026-06-07
    days on market $100,000 Active 75 DOM
11. 2026-06-07
    days on market $100,000 Active 74 DOM
12. 2026-06-04
    days on market $100,000 Active 71 DOM
13. 2026-06-02
    days on market $100,000 Active 70 DOM
14. 2026-06-01
    days on market $100,000 Active 69 DOM
15. 2026-05-31
    days on market $100,000 Active 68 DOM
16. 2026-05-31
    days on market $100,000 Active 67 DOM
17. 2026-03-24
    listed $100,000 Active 944-char remark

    Show marketing remark (944 chars)

    Excellent investment opportunity in International Falls! This well-positioned triplex offers strong income potential with all three units currently rented, making it a turnkey addition to any portfolio. The main level unit features a spacious 2 bedroom, 1 bath layout complete with in-unit washer and dryer—highly desirable for long-term tenants. The two upper units each offer comfortable 1 bedroom layouts with 3/4 baths, providing efficient and low-maintenance living spaces. The property includes an unfinished basement housing utilities, with excellent potential to finish and add an additional unit or expand income possibilities. Off-street parking adds convenience for tenants, increasing overall rental appeal. Whether you’re looking to expand your portfolio or step into multi-family investing, this property delivers consistent cash flow and future upside. Owner is a licensed real estate agent in the state of Minnesota.

18. 2019-08-29
    soldstatus $55,000
19. 2018-04-12
    historical
20. 2018-02-07
    listed $67,900
21. 2005-07-01
    soldstatus $36,000

ⓘ 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: $1,362 · $114/mo
• Projected year-2 tax: $1,362 · $114/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°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: $14,141
• − Mortgage interest: −$5,602
• − Property taxes: −$1,362
• − Insurance: −$500
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$2,909
• Taxable income: $1,506
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $2,655/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: International Falls School District
• NCES district ID: 2715000
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 45% ▼ -18.00%
• Median HH income: $42,926
• Composite: 35.88/100
• National rank: #4813
• State rank: #211 of 301 in MN

Livability — International Falls

• Score: 73/100
• State rank: #242
• US rank: #5197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: International Falls, MN
• Population (ZIP): 8,895

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 (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 20% Lithuanian 5% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -51.62%
• Current HPI: 176.118
• 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

+177.8% since first listed

5 events — show timeline

• 2026-03-24 Listed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-08-29 Sold (Public Records) $55,000 Public Records
• 2018-04-12 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-02-07 Listed $67,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-07-01 Sold (Public Records) $36,000 Public Records

Property tax history

+8.0%/yr

Latest (2026): $1,362 · +17.4% YoY. Source: county tax records.