1330 Lori Ave · Detroit Lakes, MN 56501

$299,900

3 bd · 2.5 ba · 2,058 sqft · SingleFamily public records · 105 Days on market

Built 1978 9,583 sqft lot $146/sqft · 8% below area Est $330k · 9% under

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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 +18.2/30.0
• ARV discount +11.6/15.0
• DSCR +5.7/10.0
• 1% rule +4.4/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this one-of-a-kind Detroit Lakes home offering a unique layout and plenty of space to make your own. On the main floor you will find an updated kitchen w/granite countertops and modern cabinetry, an open living area filled with natural light from large south-facing windows, creating a warm and inviting space, 3 bedrooms and a full bathroom. Downstairs you'll find a spacious lower level family room, a fourth bedroom, a ¾ bathroom, laundry room and convenient access to the large 24x34 garage—providing plenty of storage and workspace. Step outside to enjoy the wrap-around deck and fully fenced backyard, ideal for relaxing, entertaining, or enjoying time outdoors. Located in a great Detroit Lakes neighborhood, this home offers convenient access to everything the area has to offer. Enjoy being just minutes from Detroit Lake, local parks, walking trails, schools, restaurants, and shopping.

Key facts

• Modern cabinetry
• Open living area
• Updated kitchen

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• MODERN CABINETRY
• OPEN LIVING AREA
• LARGE SOUTH-FACING WINDOWS
• WRAP-AROUND DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (6.5% below list).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.7% in Detroit Lakes — 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 80/100 on livability (#78 in MN, #1,847 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Detroit Lakes Public School District (town): math 44% / reading 50% proficiency, ranked #155 of 301 in MN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 307 active listings in the ZIP; 156 units permitted in Becker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Becker County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $40k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $272,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 0.94% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (median comp): $330,225
• List price: $299,900
• Delta: -9.18%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-31,469
• Equity at exit: $44,716

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-5,445
• Equity at exit: $25,930

Cash invested: $83,972 (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 56501

• Active inventory: 307
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,805 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$249 /mo · $2,988/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $269

Break-even live

Break-even rent $2,464

Max offer price $299,900

Occupancy floor 85%

Sensitivity live

Price	-10% $439	-5% $354	+0% $269	+5% $185	+10% $100
Rent	-10% $48	-5% $159	+0% $269	+5% $380	+10% $491
Rate	-1.0pp $421	-0.5pp $346	base $269	+0.5pp $192	+1.0pp $113

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $299,900 Active 105 DOM
2. 2026-06-21
   days on market $299,900 Active 104 DOM
3. 2026-06-18
   days on market $299,900 Active 102 DOM
4. 2026-06-17
   days on market $299,900 Active 101 DOM
5. 2026-06-16
   days on market $299,900 Active 100 DOM
6. 2026-06-15
   days on market $299,900 Active 99 DOM
7. 2026-06-13
   pricedays on market $299,900 Active 97 DOM
8. 2026-06-12
   days on market $314,900 Active 96 DOM
9. 2026-06-09
   days on market $314,900 Active 93 DOM
10. 2026-06-08
    days on market $314,900 Active 92 DOM
11. 2026-06-07
    days on market $314,900 Active 91 DOM
12. 2026-06-07
    days on market $314,900 Active 90 DOM
13. 2026-06-04
    days on market $314,900 Active 87 DOM
14. 2026-06-02
    days on market $314,900 Active 86 DOM
15. 2026-06-01
    days on market $314,900 Active 85 DOM
16. 2026-05-31
    days on market $314,900 Active 84 DOM
17. 2026-05-31
    days on market $314,900 Active 83 DOM
18. 2026-05-06
    price $314,900 921-char remark

    Show marketing remark (921 chars)

    Welcome to this one-of-a-kind Detroit Lakes home offering a unique layout and plenty of space to make your own. On the main floor you will find an updated kitchen w/granite countertops and modern cabinetry, an open living area filled with natural light from large south-facing windows, creating a warm and inviting space, 3 bedrooms and a full bathroom. Downstairs you'll find a spacious lower level family room, a fourth bedroom, a ¾ bathroom, laundry room and convenient access to the large 24x34 garage—providing plenty of storage and workspace. Step outside to enjoy the wrap-around deck and fully fenced backyard, ideal for relaxing, entertaining, or enjoying time outdoors. Located in a great Detroit Lakes neighborhood, this home offers convenient access to everything the area has to offer. Enjoy being just minutes from Detroit Lake, local parks, walking trails, schools, restaurants, and shopping.

19. 2026-04-19
    price $324,900 921-char remark

    Show marketing remark (921 chars)

    Welcome to this one-of-a-kind Detroit Lakes home offering a unique layout and plenty of space to make your own. On the main floor you will find an updated kitchen w/granite countertops and modern cabinetry, an open living area filled with natural light from large south-facing windows, creating a warm and inviting space, 3 bedrooms and a full bathroom. Downstairs you'll find a spacious lower level family room, a fourth bedroom, a ¾ bathroom, laundry room and convenient access to the large 24x34 garage—providing plenty of storage and workspace. Step outside to enjoy the wrap-around deck and fully fenced backyard, ideal for relaxing, entertaining, or enjoying time outdoors. Located in a great Detroit Lakes neighborhood, this home offers convenient access to everything the area has to offer. Enjoy being just minutes from Detroit Lake, local parks, walking trails, schools, restaurants, and shopping.

20. 2026-03-21
    price $329,900 921-char remark

    Show marketing remark (921 chars)

    Welcome to this one-of-a-kind Detroit Lakes home offering a unique layout and plenty of space to make your own. On the main floor you will find an updated kitchen w/granite countertops and modern cabinetry, an open living area filled with natural light from large south-facing windows, creating a warm and inviting space, 3 bedrooms and a full bathroom. Downstairs you'll find a spacious lower level family room, a fourth bedroom, a ¾ bathroom, laundry room and convenient access to the large 24x34 garage—providing plenty of storage and workspace. Step outside to enjoy the wrap-around deck and fully fenced backyard, ideal for relaxing, entertaining, or enjoying time outdoors. Located in a great Detroit Lakes neighborhood, this home offers convenient access to everything the area has to offer. Enjoy being just minutes from Detroit Lake, local parks, walking trails, schools, restaurants, and shopping.

21. 2026-03-08
    listed $340,000 Active 921-char remark

    Show marketing remark (921 chars)

    Welcome to this one-of-a-kind Detroit Lakes home offering a unique layout and plenty of space to make your own. On the main floor you will find an updated kitchen w/granite countertops and modern cabinetry, an open living area filled with natural light from large south-facing windows, creating a warm and inviting space, 3 bedrooms and a full bathroom. Downstairs you'll find a spacious lower level family room, a fourth bedroom, a ¾ bathroom, laundry room and convenient access to the large 24x34 garage—providing plenty of storage and workspace. Step outside to enjoy the wrap-around deck and fully fenced backyard, ideal for relaxing, entertaining, or enjoying time outdoors. Located in a great Detroit Lakes neighborhood, this home offers convenient access to everything the area has to offer. Enjoy being just minutes from Detroit Lake, local parks, walking trails, schools, restaurants, and shopping.

22. 2025-04-17
    soldstatus $307,000
23. 2025-04-11
    soldstatus $307,000 Sold 559-char remark

    Show marketing remark (559 chars)

    Beautiful Detroit Lakes home with a unique and functional layout. The kitchen has updated cabinets and granite countertops. The open living space gets plenty of natural light from large south-facing windows. Three bedrooms and full bathroom on main floor. Spacious lower level with 3/4 bathroom, fourth bedroom, huge laundry room, and leads to the large 24x34 garage. Outside, there’s a wrap-around deck and a fully fenced backyard. Priced below county assessed value. This is a great opportunity to make this home your own and enjoy in time for spring!

24. 2025-03-08
    status Pending 559-char remark

    Show marketing remark (559 chars)

    Beautiful Detroit Lakes home with a unique and functional layout. The kitchen has updated cabinets and granite countertops. The open living space gets plenty of natural light from large south-facing windows. Three bedrooms and full bathroom on main floor. Spacious lower level with 3/4 bathroom, fourth bedroom, huge laundry room, and leads to the large 24x34 garage. Outside, there’s a wrap-around deck and a fully fenced backyard. Priced below county assessed value. This is a great opportunity to make this home your own and enjoy in time for spring!

25. 2025-03-03
    historical Contingent - Inspection 559-char remark

    Show marketing remark (559 chars)

    Beautiful Detroit Lakes home with a unique and functional layout. The kitchen has updated cabinets and granite countertops. The open living space gets plenty of natural light from large south-facing windows. Three bedrooms and full bathroom on main floor. Spacious lower level with 3/4 bathroom, fourth bedroom, huge laundry room, and leads to the large 24x34 garage. Outside, there’s a wrap-around deck and a fully fenced backyard. Priced below county assessed value. This is a great opportunity to make this home your own and enjoy in time for spring!

26. 2025-02-24
    listed $325,000 Active 559-char remark

    Show marketing remark (559 chars)

    Beautiful Detroit Lakes home with a unique and functional layout. The kitchen has updated cabinets and granite countertops. The open living space gets plenty of natural light from large south-facing windows. Three bedrooms and full bathroom on main floor. Spacious lower level with 3/4 bathroom, fourth bedroom, huge laundry room, and leads to the large 24x34 garage. Outside, there’s a wrap-around deck and a fully fenced backyard. Priced below county assessed value. This is a great opportunity to make this home your own and enjoy in time for spring!

27. 2022-07-29
    soldstatus $286,000
28. 2022-07-28
    soldstatus $286,000
29. 2022-07-28
    soldstatus $286,000 Sold
30. 2022-06-17
    status Pending
31. 2022-06-10
    historical Contingent - Inspection
32. 2022-05-02
    listed $299,900
33. 2022-05-02
    listed $299,900 Active
34. 2013-02-20
    soldstatus $153,000
35. 1998-07-30
    soldstatus $77,500

ⓘ 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: $2,988 · $249/mo
• Projected year-2 tax: $3,173 · $264/mo
• Expected delta: +$185/yr (+$15/mo · 6.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,663
• − Mortgage interest: −$16,799
• − Property taxes: −$2,988
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,693
• − Management: −$2,693
• − Depreciation: −$8,724
• Taxable loss: −$1,734
• Est. tax savings @ 24.0%: +$416
• After-tax cash flow: $3,650/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: Detroit Lakes Public School District
• NCES district ID: 2710230
• Math proficiency: 44% ▼ -11.00%
• Reading proficiency: 50% ▼ -11.00%
• Median HH income: $50,571
• Composite: 40.33/100
• National rank: #3746
• State rank: #155 of 301 in MN

Livability — Detroit Lakes

• Score: 80/100
• State rank: #78
• US rank: #1847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit Lakes, MN
• City population: 18,239
• Population (ZIP): 18,239

Population outlook (Becker County) Hauer SSP2

• Today (2025): 34,604 people
• By 2030: 35,095 · +1.4%
• By 2040: 35,691 · +3.1%
• By 2050: 35,869 · +3.7%
• By 2075: 36,103 · +4.3%
• By 2100: 32,798 · -5.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Native American 2%
• Common ancestry: Portuguese 25% Scottish 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Becker

• 2024 margin: Solid R (+33.1) · D 32.7% · R 65.8% · Other 1.5%
• 2008→2024 swing: -26.3pp toward R · 2008: -6.9pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+30.1 2016: R+33.2 2012: R+14.6 2008: R+6.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.40%
• Current HPI: 217.4973
• 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

+306.3% since first listed

18 events — show timeline

• 2026-05-06 Price Changed $314,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-19 Price Changed $324,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-21 Price Changed $329,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-08 Listed $340,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-17 Sold (Public Records) $307,000 Public Records
• 2025-04-11 Sold (MLS) $307,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-08 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-03 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2025-02-24 Listed $325,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-29 Sold (Public Records) $286,000 Public Records
• 2022-07-28 Sold (MLS) $286,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-07-28 Sold (MLS) $286,000 NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-17 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-06-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-02 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-05-02 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2013-02-20 Sold (Public Records) $153,000 Public Records
• 1998-07-30 Sold (Public Records) $77,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,988 · +8.9% YoY. Source: county tax records.