706 Minnesota Ave NW · Bemidji, MN 56601

$189,900

4 bd · 2.0 ba · 1,376 sqft · Other public records · 515 Days on market

Built 1900 6,969 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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.4/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 1.5-bathroom home is perfectly situated in town, just steps from the college and within walking distance to shops, restaurants, and local amenities. Its prime location makes it an excellent option for investors, first-time buyers, or those looking to downsize. Currently a rental property, this home offers a fantastic opportunity to continue as an income-generating investment or to make it your own. Inside, you’ll find three bedrooms, a full bath, and an additional half bath for convenience.

Key facts

• 6,969 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $190k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.3% in Bemidji — 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 73/100 on livability (#252 in MN) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Bemidji Public School District (rural): math 42% / reading 50% proficiency, ranked #173 of 301 in MN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.0%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 515 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 $119k; list at $190k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 515 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 1900 — 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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-9,546
• Equity at exit: $28,315

10-year hold

• IRR: 6.0%
• Equity multiple: 1.47×
• Total profit: $24,924
• Equity at exit: $16,419

Cash invested: $53,172 (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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 346
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,968 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$179 /mo · $2,144/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $301

Break-even live

Break-even rent $1,587

Max offer price $189,900

Occupancy floor 80%

Sensitivity live

Price	-10% $409	-5% $355	+0% $301	+5% $248	+10% $194
Rent	-10% $146	-5% $224	+0% $301	+5% $379	+10% $457
Rate	-1.0pp $397	-0.5pp $350	base $301	+0.5pp $252	+1.0pp $202

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Bixby Ave NE Bemidji, MN	4.0	2.0	1264	$1,750	$1.38	45d	1	0.55mi

Listing history 27 events

1. 2026-06-21
   days on market $189,900 Active 515 DOM
2. 2026-06-19
   days on market $189,900 Active 513 DOM
3. 2026-06-18
   days on market $189,900 Active 512 DOM
4. 2026-06-17
   days on market $189,900 Active 511 DOM
5. 2026-06-16
   days on market $189,900 Active 510 DOM
6. 2026-06-15
   days on market $189,900 Active 509 DOM
7. 2026-06-14
   days on market $189,900 Active 507 DOM
8. 2026-06-12
   days on market $189,900 Active 506 DOM
9. 2026-06-09
   days on market $189,900 Active 503 DOM
10. 2026-06-08
    days on market $189,900 Active 502 DOM
11. 2026-06-07
    days on market $189,900 Active 501 DOM
12. 2026-06-05
    days on market $189,900 Active 498 DOM
13. 2026-06-02
    days on market $189,900 Active 496 DOM
14. 2026-06-01
    days on market $189,900 Active 495 DOM
15. 2026-05-31
    days on market $189,900 Active 494 DOM
16. 2026-05-30
    days on market $189,900 Active 493 DOM
17. 2025-01-21
    listed $189,900 Active 518-char remark

    Show marketing remark (518 chars)

    This 3-bedroom, 1.5-bathroom home is perfectly situated in town, just steps from the college and within walking distance to shops, restaurants, and local amenities. Its prime location makes it an excellent option for investors, first-time buyers, or those looking to downsize. Currently a rental property, this home offers a fantastic opportunity to continue as an income-generating investment or to make it your own. Inside, you’ll find three bedrooms, a full bath, and an additional half bath for convenience.

18. 2008-04-02
    historical
19. 2008-04-02
    listed $119,900
20. 2008-01-07
    listed $119,900
21. 2008-01-07
    listed $119,900
22. 2005-09-07
    soldstatus $119,000
23. 2005-08-25
    historical
24. 2004-11-01
    listed $123,900
25. 2004-10-12
    soldstatus $112,000
26. 2004-09-14
    historical
27. 2004-09-13
    listed $115,000

ⓘ 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: $2,144 · $179/mo
• Projected year-2 tax: $2,144 · $179/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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $23,620
• − Mortgage interest: −$10,637
• − Property taxes: −$2,144
• − Insurance: −$950
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$5,524
• Taxable income: $586
• Est. tax owed @ 24.0%: −$141
• After-tax cash flow: $3,475/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: Bemidji Public School District
• NCES district ID: 2704440
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $47,735
• Composite: 39.22/100
• National rank: #4013
• State rank: #173 of 301 in MN

Livability — Bemidji

• Score: 73/100
• State rank: #252
• US rank: #5416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bemidji, MN
• County: Beltrami County · 34,784 people
• City population: 34,784
• Metro: Bemidji, MN
• Population (ZIP): 34,784
• Household income: $72,262
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 940.0

Population outlook (Beltrami County) Hauer SSP2

• Today (2025): 46,437 people
• By 2030: 46,736 · +0.6%
• By 2040: 46,804 · +0.8%
• By 2050: 46,299 · -0.3%
• By 2075: 44,037 · -5.2%
• By 2100: 38,567 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Native American 8% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Beltrami

• 2024 margin: Lean R (+5.7) · D 46.3% · R 52.0% · Other 1.7%
• 2008→2024 swing: -15.8pp toward R · 2008: 10.2pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.1 2016: R+9.8 2012: D+9.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.95%
• Current HPI: 261.5734
• Rent YoY: ▲ 4.02%
• Metro: Bemidji, MN
• 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

+65.1% since first listed

11 events — show timeline

• 2025-01-21 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-02 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-04-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-07 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-01-07 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2005-09-07 Sold (MLS) $119,000 NORTHSTARMLS as Distributed by MLS Grid
• 2005-08-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-11-01 Listed $123,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-10-12 Sold (MLS) $112,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-13 Listed $115,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $2,144 · +10.9% YoY. Source: county tax records.