815 6th Ave NE · Perham, MN 56573

$239,900

4 bd · 2.0 ba · 3,380 sqft · SingleFamily public records · 104 Days on market

Built 1997 8,232 sqft lot

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

Key facts

• Large mudroom
• Large backyard
• Spacious deck

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED KITCHEN
• LARGE MUDROOM
• SPACIOUS DECK
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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 $234k (2.4% below list).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 6.0% in Perham — 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 70/100 on livability (#328 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 93 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $200k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $218,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.50%
• DSCR: 1.24
• GRM: 8.5

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-19,305
• Equity at exit: $35,770

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $8,287
• Equity at exit: $20,742

Cash invested: $67,172 (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 56573

• Home prices YoY: -15.8%
• Active inventory: 93
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,341 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$183 /mo · $2,200/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $308

Break-even live

Break-even rent $1,951

Max offer price $239,900

Occupancy floor 82%

Sensitivity live

Price	-10% $444	-5% $376	+0% $308	+5% $240	+10% $172
Rent	-10% $123	-5% $215	+0% $308	+5% $400	+10% $493
Rate	-1.0pp $429	-0.5pp $369	base $308	+0.5pp $246	+1.0pp $182

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $239,900 Active 104 DOM
2. 2026-06-18
   days on market $239,900 Active 102 DOM
3. 2026-06-17
   days on market $239,900 Active 101 DOM
4. 2026-06-16
   days on market $239,900 Active 100 DOM
5. 2026-06-15
   days on market $239,900 Active 99 DOM
6. 2026-06-13
   days on market $239,900 Active 97 DOM
7. 2026-06-12
   days on market $239,900 Active 96 DOM
8. 2026-06-09
   days on market $239,900 Active 93 DOM
9. 2026-06-08
   days on market $239,900 Active 92 DOM
10. 2026-06-07
    days on market $239,900 Active 91 DOM
11. 2026-06-07
    days on market $239,900 Active 90 DOM
12. 2026-06-04
    days on market $239,900 Active 87 DOM
13. 2026-06-02
    days on market $239,900 Active 86 DOM
14. 2026-06-01
    days on market $239,900 Active 85 DOM
15. 2026-05-31
    days on market $239,900 Active 84 DOM
16. 2026-05-31
    days on market $239,900 Active 83 DOM
17. 2026-05-12
    price $239,900 669-char remark

    Show marketing remark (669 chars)

    Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

18. 2026-05-01
    status Active 669-char remark

    Show marketing remark (669 chars)

    Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

19. 2026-04-25
    historical 669-char remark

    Show marketing remark (669 chars)

    Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

20. 2026-03-02
    listed $249,900 Active 669-char remark

    Show marketing remark (669 chars)

    Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

21. 2026-03-02
    historical

    Show marketing remark (669 chars)

    Enjoy easy living in this beautifully maintained 4-bedroom, 2-bath twin home, Located in a quiet neighborhood, close to Parks, Downtown, Bike Path and more. The open-concept layout seamlessly connects the kitchen, dining, and living areas—perfect for gathering, entertaining, or simply enjoying everyday life. The Kitchen has been tastefully updated. The attached garage provides direct access to the homes large Mudroom/Laundry, which would be a great Space for a Drop Zone for Coats and Bags. Step out from the dining room into a Spacious Deck overlooking the Large Backyard. Move-in ready and quick closing Possible- schedule your showing today! No HOA fees.

22. 2025-10-22
    price $249,900
23. 2025-10-09
    price $259,900
24. 2025-09-17
    listed $269,900 Active
25. 2025-08-05
    soldstatus $200,000
26. 2025-07-10
    historical
27. 2025-04-09
    price $270,000
28. 2024-09-02
    price $275,000
29. 2024-07-09
    price $285,000
30. 2024-05-31
    listed $299,999 Active
31. 1998-06-02
    soldstatus $65,000

ⓘ 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: $2,200 · $183/mo
• Projected year-2 tax: $2,443 · $204/mo
• Expected delta: +$243/yr (+$20/mo · 11.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,089
• − Mortgage interest: −$13,438
• − Property taxes: −$2,200
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$6,979
• Taxable loss: −$222
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $3,747/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: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Perham

• Score: 70/100
• State rank: #328
• US rank: #7425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perham, MN
• Population (ZIP): 6,868

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -42.48%
• Current HPI: 225.7071
• 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

+269.1% since first listed

15 events — show timeline

• 2026-05-12 Price Changed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-02 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-22 Price Changed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $259,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-17 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-05 Sold (Public Records) $200,000 Public Records
• 2025-07-10 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-04-09 Price Changed $270,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-09-02 Price Changed $275,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-09 Price Changed $285,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-05-31 Listed $299,999 NORTHSTARMLS as Distributed by MLS Grid
• 1998-06-02 Sold (Public Records) $65,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,200 · +2.5% YoY. Source: county tax records.