1140 West Ave · Detroit Lakes, MN 56501

$269,000

3 bd · 2.5 ba · 840 sqft · SingleFamily public records · 12 Days on market

Built 1941 10,018 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• 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 MLS

You'll fall in love with this home as soon as you walk up the front walk. The adorable front porch beckons you inside. But, don't forget about the huge backyard. The lot is 200 feet deep with so much privacy. You'll enjoy spending time outside without worrying about maintenance, thanks to the vinyl siding and newer shingles. There's even a garden shed and attached garage for all your lawn goodies. The home offers 3 bedrooms and 2 bathrooms. The upper level is a huge bedroom suite. Fall in love with the skylights, and tons of space to relax. There are 2 good sized bedrooms and a full bathroom on the main level. The basement is clean and dry and could be easily finished to add 840 sq. ft. There is a functional 1/2 bath (shower and toilet) downstairs.

Key facts

• 0.23 acre lot
• Garage
• Built 1941

Property features AI

Exterior

• Parking: Attached garage (1-car) with approximate dimensions 24' x 20' and 480 sq ft
• Utilities: City water (in street); City sewer (in street); Natural gas; Electric service with circuit breakers; Power provided by City of Detroit Lakes
• Home design: Residential property; One and one-half levels; Main entry on main level; City street frontage
• Construction: Block foundation; Block basement (full, partially finished) with storage space
• Exterior features: Vinyl siding; Patio; Partial wood fencing; Storage shed

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Stainless steel appliances
• Bedrooms: Three bedrooms total (two on the main level, one on the upper level); Main-floor bedroom
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Two full bathrooms; Full basement bathroom and main-floor full bath
• Heating & cooling: Baseboard heating; Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Hardwood floors; Kitchen window; Skylight; Tile floors; Washer/dryer hookup; Air-to-air exchanger; Water softener (rented)
• Laundry & utility: Laundry in basement; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Cap rate 8.5% 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.
• Market conditions: 301 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $182k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $269,000

Questions for the listing agent

1. Built in 1941 — 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: 1.05% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.92%
• DSCR: 1.35
• GRM: 7.9

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-11,962
• Equity at exit: $40,109

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $30,229
• Equity at exit: $23,258

Cash invested: $75,320 (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: 301
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,835 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$220 /mo · $2,638/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $497

Break-even live

Break-even rent $2,206

Max offer price $269,000

Occupancy floor 77%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-18
   historical Contingent - Inspection 974-char remark
2. 2026-05-18
   listed $269,000 Active 974-char remark
3. 2026-05-08
   historical $269,000 974-char remark
4. 2022-09-01
   soldstatus $182,000
5. 2020-06-05
   soldstatus $168,000
6. 2020-06-04
   soldstatus $168,000 759-char remark

   Show marketing remark (759 chars)

   You'll fall in love with this home as soon as you walk up the front walk. The adorable front porch beckons you inside. But, don't forget about the huge backyard. The lot is 200 feet deep with so much privacy. You'll enjoy spending time outside without worrying about maintenance, thanks to the vinyl siding and newer shingles. There's even a garden shed and attached garage for all your lawn goodies. The home offers 3 bedrooms and 2 bathrooms. The upper level is a huge bedroom suite. Fall in love with the skylights, and tons of space to relax. There are 2 good sized bedrooms and a full bathroom on the main level. The basement is clean and dry and could be easily finished to add 840 sq. ft. There is a functional 1/2 bath (shower and toilet) downstairs.

7. 2020-04-07
   listed $174,900 759-char remark

   Show marketing remark (759 chars)

   You'll fall in love with this home as soon as you walk up the front walk. The adorable front porch beckons you inside. But, don't forget about the huge backyard. The lot is 200 feet deep with so much privacy. You'll enjoy spending time outside without worrying about maintenance, thanks to the vinyl siding and newer shingles. There's even a garden shed and attached garage for all your lawn goodies. The home offers 3 bedrooms and 2 bathrooms. The upper level is a huge bedroom suite. Fall in love with the skylights, and tons of space to relax. There are 2 good sized bedrooms and a full bathroom on the main level. The basement is clean and dry and could be easily finished to add 840 sq. ft. There is a functional 1/2 bath (shower and toilet) downstairs.

8. 2017-08-30
   soldstatus $165,000
9. 2017-08-28
   soldstatus $165,000

   Show marketing remark (485 chars)

   The recent updates alone make you feel like you are walking up to a brand new build! Recent remodeling done to the exterior include shingles, siding, gutters, soffit & facia and windows. Interior is tastefully painted and fresh! Entire upstairs room is an exquisite master suite with large windows and 2 skylights. Two more main floor bedrooms, open living and dining and very cute eat-in kitchen round out this must see home! Priced under tax assessed value for a quick sale!

10. 2017-07-17
    listed $159,900

    Show marketing remark (485 chars)

    The recent updates alone make you feel like you are walking up to a brand new build! Recent remodeling done to the exterior include shingles, siding, gutters, soffit & facia and windows. Interior is tastefully painted and fresh! Entire upstairs room is an exquisite master suite with large windows and 2 skylights. Two more main floor bedrooms, open living and dining and very cute eat-in kitchen round out this must see home! Priced under tax assessed value for a quick sale!

11. 2014-07-10
    soldstatus $130,000
12. 2008-06-20
    soldstatus $97,000

ⓘ 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: $2,638 · $220/mo
• Projected year-2 tax: $2,825 · $235/mo
• Expected delta: +$187/yr (+$16/mo · 7.1%)

ⓘ 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: $34,019
• − Mortgage interest: −$15,068
• − Property taxes: −$2,638
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,722
• − Management: −$2,722
• − Depreciation: −$7,825
• Taxable income: $1,700
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $5,556/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

+177.3% since first listed

13 events — show timeline

• 2026-05-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-18 Listed $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Coming Soon $269,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-01 Sold (Public Records) $182,000 Public Records
• 2020-06-05 Sold (Public Records) $168,000 Public Records
• 2020-06-04 Sold (MLS) $168,000 NORTHSTARMLS as Distributed by MLS Grid
• 2020-04-07 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-08-30 Sold (Public Records) $165,000 Public Records
• 2017-08-28 Sold (MLS) $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2017-07-17 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-10 Sold (Public Records) $130,000 Public Records
• 2008-06-20 Sold (Public Records) $97,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $2,638 · +0.2% YoY. Source: county tax records.