101 1st St SE · Baudette, MN 56623

$97,000

3 bd · 1.0 ba · 1,322 sqft · SingleFamily · 358 Days on market

Built 1910 4,356 sqft lot

---

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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

Key facts

• Bonus room
• Eat-in kitchen
• 4,356 sq ft lot

Tags

• EAT-IN KITCHEN
• BONUS ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $85k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#243 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D+, amenities F, commute F.
• Lake Of The Woods School District (rural): math 30% / reading 39% proficiency, ranked #259 of 301 in MN (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 13 units permitted in Lake of the Woods County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $671 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lake of the Woods County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $97k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 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 1910 — 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 D 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: 1.17% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.88%
• DSCR: 1.53
• 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: 1.4%
• Equity multiple: 1.05×
• Total profit: $1,404
• Equity at exit: $14,463

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $23,250
• Equity at exit: $8,387

Cash invested: $27,160 (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 56623

• Home prices YoY: -15.0%
• Active inventory: 96
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,138 medium
• Mortgage (P&I): −$509
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $269

Break-even live

Break-even rent $798

Max offer price $97,000

Occupancy floor 71%

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $97,000 Active 358 DOM
2. 2026-06-17
   days on market $97,000 Active 357 DOM
3. 2026-06-16
   days on market $97,000 Active 356 DOM
4. 2026-06-15
   days on market $97,000 Active 355 DOM
5. 2026-06-13
   days on market $97,000 Active 353 DOM
6. 2026-06-12
   days on market $97,000 Active 352 DOM
7. 2026-06-09
   days on market $97,000 Active 349 DOM
8. 2026-06-08
   days on market $97,000 Active 348 DOM
9. 2026-06-07
   days on market $97,000 Active 347 DOM
10. 2026-06-07
    days on market $97,000 Active 346 DOM
11. 2026-06-04
    days on market $97,000 Active 343 DOM
12. 2026-06-02
    days on market $97,000 Active 342 DOM
13. 2026-06-01
    days on market $97,000 Active 341 DOM
14. 2026-05-31
    days on market $97,000 Active 340 DOM
15. 2026-05-31
    days on market $97,000 Active 339 DOM
16. 2026-05-14
    price $97,000 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

17. 2025-10-16
    status Active 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

18. 2025-09-23
    status Pending 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

19. 2025-07-02
    price $107,000 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

20. 2025-07-02
    price $97,000 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

21. 2025-07-02
    price $107,000 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

22. 2025-06-02
    listed $117,000 Active 364-char remark

    Show marketing remark (364 chars)

    PRICE REDUCED!! This home has on the main floor an eat-in kitchen, dining room, living room, Full Bath and a bonus room that does not have a closet. Bonus room could be utilized as a home office/study/bedroom. Second floor has two bedrooms. Great location with walking distance to City of Baudette retail area, employment sources, post office and grocery store.

23. 2019-01-31
    soldstatus $30,000 109-char remark

    Show marketing remark (109 chars)

    3 bedroom, 1 bath home in the city. Close to shopping and the hospital. City water and sewer. Priced to sell.

24. 2018-09-18
    listed $36,000 109-char remark

    Show marketing remark (109 chars)

    3 bedroom, 1 bath home in the city. Close to shopping and the hospital. City water and sewer. Priced to sell.

ⓘ 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: $976 · $81/mo
• Projected year-2 tax: $1,031 · $86/mo
• Expected delta: +$55/yr (+$5/mo · 5.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,662
• − Mortgage interest: −$5,434
• − Property taxes: −$976
• − Insurance: −$485
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$2,822
• Taxable income: $1,759
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $2,805/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: Lake Of The Woods School District
• NCES district ID: 2717570
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $45,937
• Composite: 29.52/100
• National rank: #6498
• State rank: #259 of 301 in MN

Livability — Baudette

• Score: 73/100
• State rank: #243
• US rank: #5219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baudette, MN
• Population (ZIP): 2,684

Population outlook (Lake of the Woods County) Hauer SSP2

• Today (2025): 3,706 people
• By 2030: 3,565 · -3.8%
• By 2040: 3,224 · -13.0%
• By 2050: 2,957 · -20.2%
• By 2075: 2,685 · -27.5%
• By 2100: 2,544 · -31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7%
• Common ancestry: Portuguese 22% Scottish 6% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lake of the Woods

• 2024 margin: Solid R (+47.1) · D 25.8% · R 72.9% · Other 1.4%
• 2008→2024 swing: -33.9pp toward R · 2008: -13.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+42.9 2016: R+44.3 2012: R+20.1 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.47%
• Current HPI: 184.2846
• 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

+169.4% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-16 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-23 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $107,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $97,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $107,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-02 Listed $117,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-31 Sold (MLS) $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-18 Listed $36,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $976 · -12.9% YoY. Source: county tax records.