107 E 4th St · Morris, MN 56267

$114,900

6 bd · 2.0 ba · 2,021 sqft · Other · 61 Days on market

Built 1890 8,363 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

5-6 bedroom house with 2 bathrooms and a detached 1 stall garage. Great investment property or single family home. Over 2000 finished sq ft, gas furnace, central air, and ready for its next owner!

Key facts

• 8,363 sq ft lot
• Garage
• Built 1890

Property features AI

Finance

• Financial info: Rental license: Standard (rental license active)
• HOA & community: $80 other annual assessment

Exterior

• Parking: Detached garage (1 car)
• Utilities: City water; City sewer; Natural gas; Electric service with circuit breakers
• Home design: Residential property; Two levels
• Construction: Finished above-grade living area 2,021; Below-grade area 778; Total building area 2,919; Foundation area 778
• Exterior features: Rear porch; Wood exterior

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 6 bedrooms (mixture of upper and main levels)
• Bathrooms: One full bathroom (upper level); One three-quarter bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dryer; Electric water heater; Range; Refrigerator; Washer; Concrete basement with sump pump (unfinished)
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#296 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Zoned schools: Morris Area Elementary (math 56% / reading 55%, grade C, #308 of 857 statewide, top 36%, 553 students, 39% FRL); Morris Area Secondary (math 47% / reading 50%, grade D, #156 of 471 statewide, top 33%, 528 students, 30% FRL).
• Market conditions: 20 active listings in the ZIP; 5 units permitted in Stevens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Stevens County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. 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: 1.09% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 7.7

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,757
• Equity at exit: $17,132

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $15,845
• Equity at exit: $9,934

Cash invested: $32,172 (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 56267

• Active inventory: 20
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $233

Break-even live

Break-even rent $952

Max offer price $114,900

Occupancy floor 76%

Sensitivity live

Price	-10% $298	-5% $266	+0% $233	+5% $201	+10% $168
Rent	-10% $135	-5% $184	+0% $233	+5% $283	+10% $332
Rate	-1.0pp $291	-0.5pp $263	base $233	+0.5pp $204	+1.0pp $173

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $114,900 Active 61 DOM
2. 2026-06-21
   days on market $114,900 Active 60 DOM
3. 2026-06-18
   days on market $114,900 Active 58 DOM
4. 2026-06-17
   days on market $114,900 Active 57 DOM
5. 2026-06-16
   days on market $114,900 Active 56 DOM
6. 2026-06-15
   days on market $114,900 Active 55 DOM
7. 2026-06-13
   days on market $114,900 Active 53 DOM
8. 2026-06-12
   days on market $114,900 Active 52 DOM
9. 2026-06-09
   days on market $114,900 Active 49 DOM
10. 2026-06-08
    days on market $114,900 Active 48 DOM
11. 2026-06-07
    days on market $114,900 Active 47 DOM
12. 2026-06-07
    days on market $114,900 Active 46 DOM
13. 2026-06-04
    days on market $114,900 Active 43 DOM
14. 2026-06-02
    days on market $114,900 Active 42 DOM
15. 2026-06-01
    days on market $114,900 Active 41 DOM
16. 2026-05-31
    days on market $114,900 Active 40 DOM
17. 2026-05-31
    days on market $114,900 Active 39 DOM
18. 2026-04-21
    listed $124,900 Active 196-char remark
19. 2023-06-01
    soldstatus $95,000

ⓘ 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: $1,218 · $102/mo
• Projected year-2 tax: $1,252 · $104/mo
• Expected delta: +$34/yr (+$3/mo · 2.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,968
• − Mortgage interest: −$6,436
• − Property taxes: −$1,218
• − Insurance: −$574
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$3,343
• Taxable income: $1,002
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $2,561/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)

No district data.

Livability — Morris

• Score: 72/100
• State rank: #296
• US rank: #6491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morris, MN
• City population: 6,766
• Population (ZIP): 6,766

Population outlook (Stevens County) Hauer SSP2

• Today (2025): 9,907 people
• By 2030: 9,987 · +0.8%
• By 2040: 10,214 · +3.1%
• By 2050: 10,642 · +7.4%
• By 2075: 12,546 · +26.6%
• By 2100: 14,065 · +42.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 7% Native American 2% Black 2% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Portuguese 14% Romanian 3% Lithuanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Asian/Pacific 1%

Political lean MEDSL · Stevens

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.7% · Other 1.6%
• 2008→2024 swing: -28.3pp toward R · 2008: 1.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.1 2016: R+12.8 2012: R+0.4 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.34%
• Current HPI: 180.8749
• 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

+20.9% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $114,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-21 Listed $124,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-06-01 Sold (Public Records) $95,000 Public Records

Property tax history

+1.4%/yr

Latest (2026): $1,218 · +20.4% YoY. Source: county tax records.