425 Ash St · Crookston, MN 56716

$105,000

5 bd · 2.0 ba · 1,929 sqft · SingleFamily public records · 210 Days on market

Built 1920 5,000 sqft lot $54/sqft · 36% below area Est $154k · 32% under ↓ 3% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming move-in-ready home with lots of potential! In addition to many bedrooms, there are plenty of extra rooms for storage and a sunroom overlooking the fenced backyard. Brand-new floor coverings will be included and are ready to be installed. A second refrigerator will also be included as well as a standing freezer, snow blower, and other lawn equipment. Don't miss out on this opportunity!

Key facts

• 5,000 sq ft lot
• Garage
• Built 1920

Tags

• BRAND-NEW FLOOR COVERINGS

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.2% in Crookston — 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 79/100 on livability (#92 in MN, #2,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Crookston Public School District (town): math 46% / reading 49% proficiency, ranked #151 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Highland Elementary (math 51% / reading 53%, grade C-, #368 of 857 statewide, top 47%, 435 students, 66% FRL); Crookston Secondary (math 40% / reading 45%, grade F, #215 of 471 statewide, top 46%, 547 students, 55% FRL) — zoned schools average 60% FRL vs 37% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 42 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
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: 1.38% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.75%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (median comp): $154,445
• List price: $105,000
• Delta: -32.01%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Houston Avenue Ave	0.10mi	5/1.5	2,016 (+4%)	15mo	$209,000	$104	74
215 Washington Ave	0.43mi	4/2.0 (-1)	1,881 (-2%)	0mo	$174,900	$93	71
124 Washington Ave	0.41mi	4/2.0 (-1)	2,024 (+5%)	2mo	$70,400	$35	66
106 South Minnesota Street St	0.68mi	5/2.0	1,680 (-13%)	14mo	$145,000	$86	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $9,152
• Equity at exit: $15,656

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $41,746
• Equity at exit: $9,078

Cash invested: $29,400 (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 56716

• Home prices YoY: -22.0%
• Active inventory: 52
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$144 /mo · $1,726/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $410

Break-even live

Break-even rent $934

Max offer price $105,000

Occupancy floor 67%

Sensitivity live

Price	-10% $470	-5% $440	+0% $410	+5% $381	+10% $351
Rent	-10% $296	-5% $353	+0% $410	+5% $468	+10% $525
Rate	-1.0pp $463	-0.5pp $437	base $410	+0.5pp $383	+1.0pp $355

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   status $105,000 Active Under Contract 210 DOM
2. 2026-06-21
   days on market $105,000 Active 210 DOM
3. 2026-06-19
   days on market $105,000 Active 208 DOM
4. 2026-06-18
   days on market $105,000 Active 207 DOM
5. 2026-06-17
   days on market $105,000 Active 206 DOM
6. 2026-06-16
   days on market $105,000 Active 205 DOM
7. 2026-06-15
   days on market $105,000 Active 204 DOM
8. 2026-06-14
   days on market $105,000 Active 202 DOM
9. 2026-06-13
   pricestatusdays on market $105,000 Active 201 DOM
10. 2026-06-10
    days on market $115,000 Active Under Contract 199 DOM
11. 2026-06-09
    days on market $115,000 Active Under Contract 198 DOM
12. 2026-06-08
    days on market $115,000 Active Under Contract 197 DOM
13. 2026-06-07
    days on market $115,000 Active Under Contract 196 DOM
14. 2026-06-05
    days on market $115,000 Active Under Contract 193 DOM
15. 2026-06-03
    days on market $115,000 Active Under Contract 192 DOM
16. 2026-06-02
    days on market $115,000 Active Under Contract 191 DOM
17. 2026-06-01
    days on market $115,000 Active Under Contract 190 DOM
18. 2026-05-31
    days on market $115,000 Active Under Contract 189 DOM
19. 2026-05-30
    days on market $115,000 Active Under Contract 188 DOM
20. 2026-05-18
    historical Active Under Contract 397-char remark

    Show marketing remark (397 chars)

    Charming move-in-ready home with lots of potential! In addition to many bedrooms, there are plenty of extra rooms for storage and a sunroom overlooking the fenced backyard. Brand-new floor coverings will be included and are ready to be installed. A second refrigerator will also be included as well as a standing freezer, snow blower, and other lawn equipment. Don't miss out on this opportunity!

21. 2025-11-21
    listed $115,000 Active 397-char remark

    Show marketing remark (397 chars)

    Charming move-in-ready home with lots of potential! In addition to many bedrooms, there are plenty of extra rooms for storage and a sunroom overlooking the fenced backyard. Brand-new floor coverings will be included and are ready to be installed. A second refrigerator will also be included as well as a standing freezer, snow blower, and other lawn equipment. Don't miss out on this opportunity!

22. 2021-08-03
    soldstatus $113,000 Sold 364-char remark

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

23. 2021-08-03
    soldstatus

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

24. 2021-08-03
    soldstatus $113,000

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

25. 2021-06-14
    status Pending 364-char remark

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

26. 2021-04-29
    listed $119,000 Active 364-char remark

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

27. 2021-04-29
    listed $119,000

    Show marketing remark (364 chars)

    One owner home has 5 bedrooms and 1 ¾ bathrooms. There are 2 bedrooms on the main floor and 3 upstairs. Kitchen has a walk-in pantry, a wall oven and gas stovetop. Seasonal porch in the back. Other features: dryer is approx. 5-6 yrs old, gas furnace is approx. 10 yrs old. & gas hot water heater is approx. 3 yrs old. Laundry is located in the basement.

ⓘ 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: $1,726 · $144/mo
• Projected year-2 tax: $1,726 · $144/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 5/10 Major 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $17,447
• − Mortgage interest: −$5,882
• − Property taxes: −$1,726
• − Insurance: −$525
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$3,055
• Taxable income: $3,468
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $4,092/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: Crookston Public School District
• NCES district ID: 2709720
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $49,756
• Composite: 40.68/100
• National rank: #3671
• State rank: #151 of 301 in MN

Livability — Crookston

• Score: 79/100
• State rank: #92
• US rank: #2097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crookston, MN
• Population (ZIP): 8,991

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 28% Lithuanian 8% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.06%
• Current HPI: 219.5106
• 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

-3.4% since first listed

8 events — show timeline

• 2026-05-18 Contingent — GFAAR
• 2025-11-21 Listed $115,000 GFAAR
• 2021-08-03 Sold (Public Records) $113,000 Public Records
• 2021-08-03 Sold (MLS) — GFAAR
• 2021-08-03 Sold (MLS) $113,000 NORTHSTARMLS as Distributed by MLS Grid
• 2021-06-14 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2021-04-29 Listed $119,000 GFAAR
• 2021-04-29 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2026): $1,726 · -1.1% YoY. Source: county tax records.