19749 190th Ave · Hereim, MN 56726

$74,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 151 Days on market

Built 1940 1.10 ac lot

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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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +5.3/10.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home is looking for an up-cycling visionary! You can live the country life 1 minute from town in this 2 bedroom, 1 bathroom house with a detached garage! With some TLC, you could have your very own home with so much untapped potential without breaking the bank! Sold as-is.

Key facts

• 1.1 acre lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($870 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Greenbush-Middle River School District (rural): math 55% / reading 60% proficiency, ranked #186 of 467 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($518 loan paydown + $503 appreciation (0.7% local appreciation)).
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 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. 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: 1.16% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.67×
• Total profit: $14,133
• Equity at exit: $24,299

10-year hold

• IRR: 17.4%
• Equity multiple: 3.04×
• Total profit: $42,807
• Equity at exit: $31,331

Cash invested: $20,972 (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 56726

• Home prices YoY: 0.7%
• Active inventory: 6
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $870 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$45 /mo · $536/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $219

Break-even live

Break-even rent $593

Max offer price $74,900

Occupancy floor 70%

Sensitivity live

Price	-10% $261	-5% $240	+0% $219	+5% $198	+10% $177
Rent	-10% $150	-5% $185	+0% $219	+5% $253	+10% $288
Rate	-1.0pp $257	-0.5pp $238	base $219	+0.5pp $200	+1.0pp $180

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $74,900 Active 151 DOM
2. 2026-06-18
   days on market $74,900 Active 149 DOM
3. 2026-06-17
   days on market $74,900 Active 148 DOM
4. 2026-06-16
   days on market $74,900 Active 147 DOM
5. 2026-06-15
   days on market $74,900 Active 146 DOM
6. 2026-06-13
   days on market $74,900 Active 144 DOM
7. 2026-06-12
   days on market $74,900 Active 143 DOM
8. 2026-06-09
   days on market $74,900 Active 140 DOM
9. 2026-06-08
   days on market $74,900 Active 139 DOM
10. 2026-06-07
    days on market $74,900 Active 138 DOM
11. 2026-06-05
    days on market $74,900 Active 136 DOM
12. 2026-06-04
    days on market $74,900 Active 134 DOM
13. 2026-06-02
    days on market $74,900 Active 133 DOM
14. 2026-06-01
    days on market $74,900 Active 132 DOM
15. 2026-05-31
    days on market $74,900 Active 131 DOM
16. 2026-05-31
    days on market $74,900 Active 130 DOM
17. 2026-01-20
    listed $74,900 Active 278-char remark

    Show marketing remark (278 chars)

    This home is looking for an up-cycling visionary! You can live the country life 1 minute from town in this 2 bedroom, 1 bathroom house with a detached garage! With some TLC, you could have your very own home with so much untapped potential without breaking the bank! Sold as-is.

18. 2026-01-17
    historical
19. 2025-01-21
    listed $74,900 Active

ⓘ 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: $536 · $45/mo
• Projected year-2 tax: $687 · $57/mo
• Expected delta: +$151/yr (+$13/mo · 28.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $10,444
• − Mortgage interest: −$4,196
• − Property taxes: −$536
• − Insurance: −$374
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$2,179
• Taxable income: $1,488
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $2,270/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: Greenbush-Middle River School District
• NCES district ID: 2700107
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $49,269
• Composite: 50.64/100
• National rank: #3947
• State rank: #186 of 467 in MN

Livability — Hereim

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

Census & demographics

• Population (ZIP): 1,576

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Asian 4% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 41% Romanian 12% Scottish 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Vietnamese 1%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.67%
• Current HPI: 101.0623
• 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

+0.0% since first listed

3 events — show timeline

• 2026-01-20 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-21 Listed $74,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2026): $536 · -15.2% YoY. Source: county tax records.