911 W Cavour Ave · Fergus Falls, MN 56537

$148,000

3 bd · 2.0 ba · 816 sqft · SingleFamily public records · 86 Days on market

Built 1928 6,969 sqft lot $181/sqft · 31% above area Est $224k · 34% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +7.3/30.0
• Schools +5.1/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

YOU'LL BE PROUD TO OWN THIS BEAUTIFUL 3+ BR, 2 BA HOME. SPACIOUS AND COMFORTABLE WITH MANY EXTRAS. COZY 3 SEASON ROOM OFF THE LIVING ROOM OFFERS QUIET TIMES. A SMALL REMODEL TO THE KITCHEN DOES WONDERS FOR THE FLOW OF THE MAIN FLOOR. LARGE BR UPSTAIRS, WHETHER USED AS A MASTER BR OR FOR THE KID'S DOMAIN, IS AN EXTRA. DOUBLE GARAGE OPENS TO THE ALLEY OFFERING LESS PARKING CONGESTION. THE HOME IS READY TO MOVE INTO. CHILDREN'S BR (4TH BR) CAN BE AT TOP OF SECOND FLOOR.

Key facts

• 6,969 sq ft lot
• 2 garage spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (23.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (29.3% below list).
• Recommended offer: $105k (29.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.3% in Fergus Falls — 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 83/100 on livability (#31 in MN, #969 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D+, commute F.
• Fergus Falls Public School District (town): math 59% / reading 61% proficiency, ranked #46 of 301 in MN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cleveland Elementary (math 71% / reading 60%, grade B+, #123 of 857 statewide, top 15%, 369 students, 47% FRL); Kennedy Middle School (math 57% / reading 63%, grade B, #25 of 258 statewide, top 9%, 769 students, 43% FRL); Kennedy High School (math 52% / reading 62%, grade C, #64 of 471 statewide, top 16%, 685 students, 33% FRL) — zoned schools average 41% FRL vs 24% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 118 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,670 (29.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• GRM: 11.8

CMA / ARV

• ARV (median comp): $224,202
• List price: $148,000
• Delta: -33.99%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.1%
• Equity multiple: 0.12×
• Total profit: $-36,601
• Equity at exit: $22,067

10-year hold

• IRR: -23.0%
• Equity multiple: -0.16×
• Total profit: $-48,073
• Equity at exit: $12,796

Cash invested: $41,440 (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 56537

• Home prices YoY: -28.5%
• Active inventory: 118
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,047 high
• Mortgage (P&I): −$776
• Tax from tax record: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $-198

Break-even live

Break-even rent $1,298

Max offer price $112,951

Occupancy floor —

Sensitivity live

Price	-10% $-115	-5% $-157	+0% $-198	+5% $-240	+10% $-282
Rent	-10% $-281	-5% $-240	+0% $-198	+5% $-157	+10% $-116
Rate	-1.0pp $-124	-0.5pp $-161	base $-198	+0.5pp $-237	+1.0pp $-276

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 W Laurel St Fergus Falls, MN	1.0–2.0	1.0	765	$900	$1.18	22d	4	0.27mi
1515 College Way Unit 308 Fergus Falls, MN	2.0	1.0	772	$950	$1.23	45d	1	0.60mi
623 W Fir Ave Fergus Falls, MN	1.0–2.0	1.0	922	$1,160	$1.26	22d	1	0.89mi
1004 Union Ave Unit 11 Fergus Falls, MN	2.0	1.0	925	$995	$1.08	45d	1	0.92mi
407 W Fir Ave Unit 25 Fergus Falls, MN	2.0	1.0	850	$995	$1.17	45d	1	0.98mi

Listing history 34 events

1. 2026-06-21
   days on market $148,000 Active 86 DOM
2. 2026-06-19
   days on market $148,000 Active 84 DOM
3. 2026-06-18
   days on market $148,000 Active 83 DOM
4. 2026-06-17
   days on market $148,000 Active 82 DOM
5. 2026-06-16
   days on market $148,000 Active 81 DOM
6. 2026-06-15
   days on market $148,000 Active 80 DOM
7. 2026-06-14
   days on market $148,000 Active 78 DOM
8. 2026-06-12
   days on market $148,000 Active 77 DOM
9. 2026-06-09
   days on market $148,000 Active 74 DOM
10. 2026-06-08
    days on market $148,000 Active 73 DOM
11. 2026-06-07
    days on market $148,000 Active 72 DOM
12. 2026-06-07
    days on market $148,000 Active 71 DOM
13. 2026-06-04
    days on market $148,000 Active 68 DOM
14. 2026-06-02
    days on market $148,000 Active 67 DOM
15. 2026-06-01
    days on market $148,000 Active 66 DOM
16. 2026-05-31
    days on market $148,000 Active 65 DOM
17. 2026-05-31
    days on market $148,000 Active 64 DOM
18. 2026-05-01
    status Active
19. 2026-04-06
    historical Contingent - Other
20. 2026-03-27
    listed $148,000 Active
21. 2022-10-31
    soldstatus $186,000
22. 2022-10-28
    soldstatus $186,000 Sold 479-char remark

    Show marketing remark (479 chars)

    YOU'LL BE PROUD TO OWN THIS BEAUTIFUL 3+ BR, 2 BA HOME. SPACIOUS AND COMFORTABLE WITH MANY EXTRAS. COZY 3 SEASON ROOM OFF THE LIVING ROOM OFFERS QUIET TIMES. A SMALL REMODEL TO THE KITCHEN DOES WONDERS FOR THE FLOW OF THE MAIN FLOOR. LARGE BR UPSTAIRS, WHETHER USED AS A MASTER BR OR FOR THE KID'S DOMAIN, IS AN EXTRA. DOUBLE GARAGE OPENS TO THE ALLEY OFFERING LESS PARKING CONGESTION. THE HOME IS READY TO MOVE INTO. CHILDREN'S BR (4TH BR) CAN BE AT TOP OF SECOND FLOOR.

23. 2022-08-30
    status Pending 479-char remark

    Show marketing remark (479 chars)

    YOU'LL BE PROUD TO OWN THIS BEAUTIFUL 3+ BR, 2 BA HOME. SPACIOUS AND COMFORTABLE WITH MANY EXTRAS. COZY 3 SEASON ROOM OFF THE LIVING ROOM OFFERS QUIET TIMES. A SMALL REMODEL TO THE KITCHEN DOES WONDERS FOR THE FLOW OF THE MAIN FLOOR. LARGE BR UPSTAIRS, WHETHER USED AS A MASTER BR OR FOR THE KID'S DOMAIN, IS AN EXTRA. DOUBLE GARAGE OPENS TO THE ALLEY OFFERING LESS PARKING CONGESTION. THE HOME IS READY TO MOVE INTO. CHILDREN'S BR (4TH BR) CAN BE AT TOP OF SECOND FLOOR.

24. 2022-08-25
    listed $174,900 Active 479-char remark

    Show marketing remark (479 chars)

    YOU'LL BE PROUD TO OWN THIS BEAUTIFUL 3+ BR, 2 BA HOME. SPACIOUS AND COMFORTABLE WITH MANY EXTRAS. COZY 3 SEASON ROOM OFF THE LIVING ROOM OFFERS QUIET TIMES. A SMALL REMODEL TO THE KITCHEN DOES WONDERS FOR THE FLOW OF THE MAIN FLOOR. LARGE BR UPSTAIRS, WHETHER USED AS A MASTER BR OR FOR THE KID'S DOMAIN, IS AN EXTRA. DOUBLE GARAGE OPENS TO THE ALLEY OFFERING LESS PARKING CONGESTION. THE HOME IS READY TO MOVE INTO. CHILDREN'S BR (4TH BR) CAN BE AT TOP OF SECOND FLOOR.

25. 2022-05-02
    soldstatus $82,000
26. 2010-02-25
    soldstatus $87,000
27. 2009-07-21
    listed $84,900
28. 2004-09-13
    soldstatus $72,000
29. 2004-07-01
    soldstatus $70,000
30. 2004-05-14
    historical
31. 2004-05-13
    listed $72,900
32. 2004-05-10
    listed $72,900
33. 1997-07-10
    soldstatus $49,000
34. 1997-06-05
    listed $49,500

ⓘ 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: $2,250 · $188/mo
• Projected year-2 tax: $2,250 · $188/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°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: $12,560
• − Mortgage interest: −$8,290
• − Property taxes: −$2,250
• − Insurance: −$740
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$4,305
• Taxable loss: −$5,035
• Est. tax savings @ 24.0%: +$1,208
• After-tax cash flow: $-1,172/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: Fergus Falls Public School District
• NCES district ID: 2711880
• Math proficiency: 59% ▬ 0.00%
• Reading proficiency: 61% ▼ -4.00%
• Median HH income: $48,044
• Composite: 50.89/100
• National rank: #1790
• State rank: #46 of 301 in MN

Livability — Fergus Falls

• Score: 83/100
• State rank: #31
• US rank: #969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fergus Falls, MN
• County: Otter Tail County · 19,856 people
• City population: 19,856
• Metro: Fergus Falls, MN
• Population (ZIP): 19,856
• Household income: $65,473
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 420.0

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 29% Lithuanian 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.58%
• Current HPI: 204.9606
• Rent YoY: —
• Metro: Fergus Falls, 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

+199.0% since first listed

17 events — show timeline

• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-06 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Listed $148,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-10-31 Sold (Public Records) $186,000 Public Records
• 2022-10-28 Sold (MLS) $186,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-25 Listed $174,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-02 Sold (Public Records) $82,000 Public Records
• 2010-02-25 Sold (Public Records) $87,000 Public Records
• 2009-07-21 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-09-13 Sold (MLS) $72,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-07-01 Sold (MLS) $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-13 Listed $72,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-05-10 Listed $72,900 NORTHSTARMLS as Distributed by MLS Grid
• 1997-07-10 Sold (MLS) $49,000 NORTHSTARMLS as Distributed by MLS Grid
• 1997-06-05 Listed $49,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2025): $2,250 · +12.8% YoY. Source: county tax records.