230 Main St N · Blackduck, MN 56630

$265,000

2 bd · 1.0 ba · 880 sqft · Other public records · 79 Days on market

Built 2025 7,405 sqft lot

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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).

• Cash flow +10.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• DSCR +3.1/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

Step into comfort and convenience with this new-construction 2-bedroom, 1-bath in-town home, featuring a single-level, easy-to-navigate layout, higher-end finishes throughout, an insulated and heated attached double garage, a spacious kitchen, in-floor heating, and more. Enjoy low-maintenance living without sacrificing quality. This home blends modern design with energy efficiency, offering everything you need in a well-built, thoughtfully designed space.

Key facts

• In-floor heating
• New-construction
• Spacious kitchen

Tags

• NEW-CONSTRUCTION
• SINGLE-LEVEL LAYOUT
• HIGHER-END FINISHES
• INSULATED AND HEATED GARAGE
• SPACIOUS KITCHEN
• IN-FLOOR HEATING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $265k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (31.3% below list).
• Recommended offer: $182k (31.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#470 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Blackduck Public School District (rural): math 33% / reading 39% proficiency, ranked #249 of 301 in MN (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $182,144 (31.3% 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 79 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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 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: 0.69% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 2.84×
• Total profit: $136,217
• Equity at exit: $238,733

10-year hold

• IRR: 20.4%
• Equity multiple: 6.49×
• Total profit: $407,135
• Equity at exit: $514,837

Cash invested: $74,200 (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 56630

• Home prices YoY: 12.8%
• Active inventory: 16
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,821 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-125

Break-even live

Break-even rent $1,980

Max offer price $242,889

Occupancy floor —

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $265,000 Active 79 DOM
2. 2026-06-18
   days on market $265,000 Active 78 DOM
3. 2026-06-17
   days on market $265,000 Active 77 DOM
4. 2026-06-16
   days on market $265,000 Active 76 DOM
5. 2026-06-15
   days on market $265,000 Active 75 DOM
6. 2026-06-14
   days on market $265,000 Active 73 DOM
7. 2026-06-12
   days on market $265,000 Active 72 DOM
8. 2026-06-09
   days on market $265,000 Active 69 DOM
9. 2026-06-08
   days on market $265,000 Active 68 DOM
10. 2026-06-07
    days on market $265,000 Active 67 DOM
11. 2026-06-03
    days on market $265,000 Active 63 DOM
12. 2026-06-02
    days on market $265,000 Active 62 DOM
13. 2026-06-01
    days on market $265,000 Active 61 DOM
14. 2026-05-31
    days on market $265,000 Active 60 DOM
15. 2026-05-30
    days on market $265,000 Active 59 DOM
16. 2026-04-01
    price $265,000 459-char remark

    Show marketing remark (459 chars)

    Step into comfort and convenience with this new-construction 2-bedroom, 1-bath in-town home, featuring a single-level, easy-to-navigate layout, higher-end finishes throughout, an insulated and heated attached double garage, a spacious kitchen, in-floor heating, and more. Enjoy low-maintenance living without sacrificing quality. This home blends modern design with energy efficiency, offering everything you need in a well-built, thoughtfully designed space.

17. 2026-04-01
    listed $26,500 Active 459-char remark

    Show marketing remark (459 chars)

    Step into comfort and convenience with this new-construction 2-bedroom, 1-bath in-town home, featuring a single-level, easy-to-navigate layout, higher-end finishes throughout, an insulated and heated attached double garage, a spacious kitchen, in-floor heating, and more. Enjoy low-maintenance living without sacrificing quality. This home blends modern design with energy efficiency, offering everything you need in a well-built, thoughtfully designed space.

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $1,868 · $156/mo
• Expected delta: +$1,100/yr (+$92/mo · 143.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $21,857
• − Mortgage interest: −$14,844
• − Property taxes: −$768
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$7,709
• Taxable loss: −$6,286
• Est. tax savings @ 24.0%: +$1,509
• After-tax cash flow: $7/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: Blackduck Public School District
• NCES district ID: 2705730
• Math proficiency: 33% ▼ -13.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $44,504
• Composite: 30.63/100
• National rank: #6187
• State rank: #249 of 301 in MN

Livability — Blackduck

• Score: 66/100
• State rank: #470
• US rank: #11211

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blackduck, MN
• Population (ZIP): 2,081

Population outlook (Beltrami County) Hauer SSP2

• Today (2025): 46,437 people
• By 2030: 46,736 · +0.6%
• By 2040: 46,804 · +0.8%
• By 2050: 46,299 · -0.3%
• By 2075: 44,037 · -5.2%
• By 2100: 38,567 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Hispanic / Latino 6% Native American 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 16% Italian 4% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 1%

Political lean MEDSL · Beltrami

• 2024 margin: Lean R (+5.7) · D 46.3% · R 52.0% · Other 1.7%
• 2008→2024 swing: -15.8pp toward R · 2008: 10.2pp · 2024: -5.7pp
• All cycles: 2024: R+5.7 2020: R+3.1 2016: R+9.8 2012: D+9.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.29%
• Current HPI: 160.82
• 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

+900.0% since first listed

2 events — show timeline

• 2026-04-01 Price Changed $265,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-01 Listed $26,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $768 · +16.7% YoY. Source: county tax records.