911 Hamilton Ave NE · Red Lake Falls, MN 56750

$122,900

3 bd · 1.0 ba · 1,322 sqft · SingleFamily · 6 Days on market

Built 1974 0.46 ac 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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.1/10.0
• Schools +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well cared for and updated (1973 manufactured date) Detroiter Manufactured Home nestled on a nice lot on a dead end street offering privacy and country feel. You would never believe this is a 1973 model as the owner took such good care of the home and updated windows, siding, metal roof, new furnace in 2022, new AC unit in 2025. Kitchen is complete with all appliances staying. Kitchen and Dinette cabinets have been updated. Nice sized living room with the front door leading to the deck. Note: a light fixture in the corner of the living room ceiling is non working and was placed to cover where a stove pipe had been. 3 bedrooms, full bath and laundry in the hall complete the manufactured po

Key facts

• New furnace
• New ac unit
• Updated siding

Tags

• UPDATED WINDOWS
• UPDATED SIDING
• METAL ROOF
• NEW FURNACE
• NEW AC UNIT
• UPDATED KITCHEN CABINETS

Property features AI

Finance

• Other: Lot size about 0.461 acres (approx. 125 x 161)
• Financial info: Property listed free and clear

Exterior

• Parking: Attached heated garage with garage door opener; Gravel driveway; 2 garage spaces (garage approx. 24 x 32)
• Utilities: City water connected; City sewer connected; Electric with circuit breakers and 150 amp service; Propane fuel
• Home design: Residential property; Single-story (one level); Manufactured home
• Construction: Built with pillar/post/pier foundation; Foundation dimensions: 24 x 44 and 14 x 19
• Exterior features: Vinyl exterior; Metal roof; City street frontage with curbs and paved streets; Storm sewer

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Fireplace heating; Central air conditioning
• Interior features: Informal dining area; Gas fireplace (one)
• Laundry & utility: Washer and Dryer; Laundry located on main level/in hall

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $123k).

Location & tenants

• Location reads 77/100 on livability (#142 in MN, #3,078 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Red Lake Falls Public School District (rural): math 46% / reading 48% proficiency, ranked #156 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 2 units permitted in Red Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Red Lake County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $122,900

Questions for the listing agent

1. Built in 1974 — 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: 1.11% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• GRM: 7.5

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,112
• Equity at exit: $18,325

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $12,526
• Equity at exit: $10,626

Cash invested: $34,412 (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 56750

• Home prices YoY: -20.5%
• Active inventory: 13
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,362 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$164 /mo · $1,968/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $216

Break-even live

Break-even rent $1,088

Max offer price $122,900

Occupancy floor 79%

Sensitivity live

Price	-10% $286	-5% $251	+0% $216	+5% $182	+10% $147
Rent	-10% $109	-5% $162	+0% $216	+5% $270	+10% $324
Rate	-1.0pp $278	-0.5pp $248	base $216	+0.5pp $184	+1.0pp $152

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: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-24
   listed $122,900 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: $1,968 · $164/mo
• Projected year-2 tax: $1,968 · $164/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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,344
• − Mortgage interest: −$6,884
• − Property taxes: −$1,968
• − Insurance: −$614
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$3,575
• Taxable income: $687
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $2,431/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: Red Lake Falls Public School District
• NCES district ID: 2730450
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $50,088
• Composite: 40.3/100
• National rank: #3756
• State rank: #156 of 301 in MN

Livability — Red Lake Falls

• Score: 77/100
• State rank: #142
• US rank: #3078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Lake Falls, MN
• Population (ZIP): 2,280

Population outlook (Red Lake County) Hauer SSP2

• Today (2025): 3,902 people
• By 2030: 3,807 · -2.4%
• By 2040: 3,587 · -8.1%
• By 2050: 3,382 · -13.3%
• By 2075: 3,091 · -20.8%
• By 2100: 2,881 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Native American 2%
• Common ancestry: Portuguese 20% Lithuanian 18% Italian 3%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Red Lake

• 2024 margin: Solid R (+37.1) · D 30.4% · R 67.5% · Other 2.0%
• 2008→2024 swing: -43.4pp toward R · 2008: 6.2pp · 2024: -37.1pp
• All cycles: 2024: R+37.1 2020: R+34.7 2016: R+32.1 2012: R+2.5 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.35%
• Current HPI: 137.2603
• 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

2 events — show timeline

• 2026-05-01 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-24 Listed $122,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2026): $1,968 · -1.7% YoY. Source: county tax records.