101 7th Ave Ave W · Floodwood, MN 55736

$199,900

24 bd · 20.0 ba · 3,120 sqft · MultiFamily public records · 74 Days on market

Built 1965 6,413 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Awesome 4-plex on the main drag in Floodwood!! Fully leased - all units are really nice. Numbers available on request. Seller is a licensed real estate broker in the state of Minnesota.

Key facts

• 6,413 sq ft lot
• Built 1965
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/5.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $569/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#502 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Floodwood Public School District (rural): math 40% / reading 50% proficiency, ranked #334 of 467 in MN (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.5% local appreciation)).
• At projected returns (6.5% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $90k; list at $200k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.37% ✓
• Cap rate: 19.96%
• Cash-on-cash: 48.80%
• DSCR: 3.17
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 58.3%
• Equity multiple: 4.72×
• Total profit: $208,188
• Equity at exit: $131,389

10-year hold

• IRR: 54.8%
• Equity multiple: 9.89×
• Total profit: $497,837
• Equity at exit: $243,372

Cash invested: $55,972 (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 55736

• Home prices YoY: 3.0%
• Active inventory: 23
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $4,742 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$338 /mo · $4,062/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$996
• Net cashflow: $2,276

Break-even live

Break-even rent $1,861

Max offer price $199,900

Occupancy floor 47%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	6	5	$4,744
Total (4 units)			$4,742

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $199,900 Active 74 DOM
2. 2026-06-18
   days on market $199,900 Active 73 DOM
3. 2026-06-17
   days on market $199,900 Active 72 DOM
4. 2026-06-16
   days on market $199,900 Active 71 DOM
5. 2026-06-15
   days on market $199,900 Active 70 DOM
6. 2026-06-14
   days on market $199,900 Active 68 DOM
7. 2026-06-13
   days on market $199,900 Active 67 DOM
8. 2026-06-10
   days on market $199,900 Active 65 DOM
9. 2026-06-09
   days on market $199,900 Active 64 DOM
10. 2026-06-08
    days on market $199,900 Active 63 DOM
11. 2026-06-07
    days on market $199,900 Active 62 DOM
12. 2026-06-05
    days on market $199,900 Active 59 DOM
13. 2026-06-02
    days on market $199,900 Active 57 DOM
14. 2026-06-01
    days on market $199,900 Active 56 DOM
15. 2026-05-31
    days on market $199,900 Active 55 DOM
16. 2026-05-30
    days on market $199,900 Active 54 DOM
17. 2026-04-07
    listed $199,900 Active 185-char remark

    Show marketing remark (185 chars)

    Awesome 4-plex on the main drag in Floodwood!! Fully leased - all units are really nice. Numbers available on request. Seller is a licensed real estate broker in the state of Minnesota.

18. 2025-10-30
    historical
19. 2025-10-20
    status Active
20. 2025-10-06
    status Pending
21. 2025-08-01
    price $209,900
22. 2025-03-29
    listed $229,900 Active
23. 2023-10-04
    historical $500
24. 2023-08-29
    listed $500
25. 2023-08-20
    historical $500
26. 2023-08-19
    listed $500
27. 2023-07-16
    historical $600
28. 2023-07-15
    listed $600
29. 2022-05-26
    soldstatus $90,000
30. 2019-02-25
    soldstatus $90,000
31. 2008-06-13
    soldstatus $77,000

ⓘ 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: $4,062 · $338/mo
• Projected year-2 tax: $4,062 · $338/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 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,904
• − Mortgage interest: −$11,198
• − Property taxes: −$4,062
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,552
• − Management: −$4,552
• − Depreciation: −$5,815
• Taxable income: $25,725
• Est. tax owed @ 24.0%: −$6,174
• After-tax cash flow: $21,139/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: Floodwood Public School District
• NCES district ID: 2712210
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $38,487
• Composite: 39.74/100
• National rank: #7994
• State rank: #334 of 467 in MN

Livability — Floodwood

• Score: 66/100
• State rank: #502
• US rank: #12027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Floodwood, MN
• Population (ZIP): 1,326

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3%
• Common ancestry: Portuguese 9% Romanian 8% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.45%
• Current HPI: 222.9135
• 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

+159.6% since first listed

15 events — show timeline

• 2026-04-07 Listed $199,900 LSAR
• 2025-10-30 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-20 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-06 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-01 Price Changed $209,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-29 Listed $229,900 NORTHSTARMLS as Distributed by MLS Grid
• 2023-10-04 Rental Removed $500 APPFOLIO
• 2023-08-29 Listed for Rent $500 APPFOLIO
• 2023-08-20 Rental Removed $500 APPFOLIO
• 2023-08-19 Listed for Rent $500 APPFOLIO
• 2023-07-16 Rental Removed $600 APPFOLIO
• 2023-07-15 Listed for Rent $600 APPFOLIO
• 2022-05-26 Sold (Public Records) $90,000 Public Records
• 2019-02-25 Sold (Public Records) $90,000 Public Records
• 2008-06-13 Sold (Public Records) $77,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $4,062 · +14.9% YoY. Source: county tax records.