413 4th Ave NE · East Grand Forks, MN 56721

$69,900

2 bd · 1.0 ba · 635 sqft · SingleFamily public records · 5 Days on market

Built 1950 7,000 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
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SOLD BEFORE PRINT!!! Rehab special!! 2 bed, 1 bath home ready for new owners to bring back to life and make it their own!

Key facts

• 7,000 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Financial info: Annual tax amount of $864

Exterior

• Parking: Attached or detached garage with 1 parking space
• Utilities: Public water; Natural gas available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Other foundation
• Exterior features: Lot approximately 7,000 square feet (about 150 x 40)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.0% vs local median 3.1% in East Grand Forks — 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 76/100 on livability (#167 in MN, #3,598 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Grand Forks Public School District (suburban): math 42% / reading 49% proficiency, ranked #168 of 301 in MN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Grand Forks Senior High (math 27% / reading 52%, grade F, #246 of 471 statewide, top 59%, 541 students, 34% FRL).
• Market conditions: 57 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 42 units permitted in Polk County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($83k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $23k; list at $70k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.55% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.84%
• DSCR: 2.06
• GRM: 5.4

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: 17.0%
• Equity multiple: 1.69×
• Total profit: $13,446
• Equity at exit: $10,422

10-year hold

• IRR: 25.5%
• Equity multiple: 3.23×
• Total profit: $43,626
• Equity at exit: $6,044

Cash invested: $19,572 (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 56721

• Active inventory: 57
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$367
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $389

Break-even live

Break-even rent $592

Max offer price $69,900

Occupancy floor 59%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 S 3rd St Grand Forks, ND	1.0	1.0	740	$925	$1.25	43d	1	0.77mi
95 4th Ave S Grand Forks, ND	1.0	1.0	500	$725	$1.45	44d	1	0.90mi
214 N 4th St Grand Forks, ND	3.0	1.0–2.0	974	$1,897	$1.95	43d	1	0.96mi
1720 5th Ave NE East Grand Forks, MN	1.0	1.0	575	$690	$1.20	43d	1	0.97mi
318 17th St NW Unit 400-30 East Grand Forks, MN	1.0	1.0	479	$758	$1.58	43d	1	1.06mi

Listing history 3 events

1. 2026-05-21
   listed Active Under Contract
2. 2026-05-21
   listed $69,900
3. 1997-06-30
   soldstatus $22,800

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $864 · $72/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,011
• − Mortgage interest: −$3,915
• − Property taxes: −$864
• − Insurance: −$350
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,033
• Taxable income: $3,766
• Est. tax owed @ 24.0%: −$904
• After-tax cash flow: $3,762/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: East Grand Forks Public School District
• NCES district ID: 2711130
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $55,956
• Composite: 39.6/100
• National rank: #3924
• State rank: #168 of 301 in MN

Livability — East Grand Forks

• Score: 76/100
• State rank: #167
• US rank: #3598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Grand Forks, MN
• County: Polk County · 10,679 people
• City population: 10,679
• Metro: Grand Forks, ND-MN
• Population (ZIP): 10,679
• Household income: $82,525
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 276.0

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 31% Lithuanian 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.89%
• Current HPI: 176.3062
• Rent YoY: —
• Metro: Grand Forks, ND-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

+206.6% since first listed

3 events — show timeline

• 2026-05-21 Listed — GFAAR
• 2026-05-21 Listed $69,900 GFAAR
• 1997-06-30 Sold (Public Records) $22,800 Public Records

Property tax history

+5.2%/yr

Latest (2026): $864 · +11.9% YoY. Source: county tax records.