37373 Hanson Rd · Bigfork, MN 56628

$1

3 bd · 2.0 ba · 1,832 sqft · SingleFamily public records · 23 Days on market

Built 1974 40 ac lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

AUCTION! Being offered at online auction is this 3 bedroom, 2 bath rambler situated on approximately 39.9 acres of mature forest just minutes from Bigfork, Minnesota. Offering the perfect combination of country living and recreational opportunity, this property provides privacy, wildlife habitat, and room to enjoy all that Northern Minnesota has to offer. The home features over 1,200 square feet of main floor living space along with a partially finished basement, providing additional room for storage, hobbies, or future expansion. Enjoy your morning coffee or unwind in the evening from the comfort of the three-season porch while taking in the peaceful wooded surroundings and abundant wildli

Key facts

• Three season porch
• Storage sheds
• 39.9 acre lot

Tags

• THREE SEASON PORCH
• DETACHED DOUBLE GARAGES
• STORAGE SHEDS

Property features AI

Finance

• Other: Directions: 2 miles north of Bigfork MN on Hwy. 38, then 1/4 mile west on Hanson Road
• HOA & community: No association fees

Exterior

• Parking: Multiple garages; 4 garage spaces
• Utilities: Well with 4-inch submersible; Septic system (compliant); 100 amp electric service (plus other); Electric and propane fuel
• Home design: Residential property; One level; Main-level entry
• Construction: Frame construction; Block foundation; Basement (block)
• Exterior features: Deck; French doors; Wood exterior; Storage shed; Tree coverage - heavy; Approximately 39.9 acres, heavily wooded

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bath on the main level; 1 three-quarter bath in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Three-season porch; Family room; Living room; Informal dining area; Main-floor primary bedroom; Non-egress room; Storage; Utility room; Washer/dryer hookup; Water softener (owned); Fuel tank (rented)
• Laundry & utility: Washer/dryer hookup; Electric water heater; Water softener (owned)

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $1 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

Location & tenants

• Location reads 71/100 on livability (#324 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D, employment D.
• Grand Rapids Public School District (town): math 46% / reading 55% proficiency, ranked #119 of 301 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 121 units permitted in Itasca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Itasca County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Recommended offer $1

Questions for the listing agent

1. Built in 1974 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 138234.00% ✓
• Cap rate: 1310456.32%
• Cash-on-cash: 4680178.67%
• DSCR: 208242.62
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 248478.29×
• Total profit: $69,574
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 536532.15×
• Total profit: $150,229
• Equity at exit: $1

Cash invested: $0 (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 56628

• Home prices YoY: 1.2%
• Active inventory: 23

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $1,092

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $1 Active 23 DOM
2. 2026-06-18
   days on market $1 Active 22 DOM
3. 2026-06-17
   days on market $1 Active 21 DOM
4. 2026-06-16
   days on market $1 Active 20 DOM
5. 2026-06-15
   days on market $1 Active 19 DOM
6. 2026-06-14
   days on market $1 Active 17 DOM
7. 2026-06-13
   days on market $1 Active 16 DOM
8. 2026-06-10
   days on market $1 Active 14 DOM
9. 2026-06-09
   days on market $1 Active 13 DOM
10. 2026-06-08
    days on market $1 Active 12 DOM
11. 2026-06-07
    days on market $1 Active 11 DOM
12. 2026-06-03
    days on market $1 Active 7 DOM
13. 2026-06-02
    days on market $1 Active 6 DOM
14. 2026-06-01
    days on market $1 Active 5 DOM
15. 2026-05-31
    days on market $1 Active 4 DOM
16. 2026-05-30
    days on market $1 Active 3 DOM
17. 2026-05-26
    listed $1 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 11 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,588
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$0
• Taxable income: $13,934
• Est. tax owed @ 24.0%: −$3,344
• After-tax cash flow: $9,760/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: Grand Rapids Public School District
• NCES district ID: 2713170
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $49,762
• Composite: 43.14/100
• National rank: #3077
• State rank: #119 of 301 in MN

Livability — Bigfork

• Score: 71/100
• State rank: #324
• US rank: #7305

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,649

Population outlook (Itasca County) Hauer SSP2

• Today (2025): 45,885 people
• By 2030: 45,890 · +0.0%
• By 2040: 45,171 · -1.6%
• By 2050: 43,946 · -4.2%
• By 2075: 40,950 · -10.8%
• By 2100: 34,909 · -23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Native American 2% Hispanic / Latino 1% Black 1%
• Common ancestry: Portuguese 15% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Itasca

• 2024 margin: Strong R (+20.2) · D 39.1% · R 59.3% · Other 1.6%
• 2008→2024 swing: -33.1pp toward R · 2008: 12.9pp · 2024: -20.2pp
• All cycles: 2024: R+20.2 2020: R+16.8 2016: R+16.5 2012: D+9.9 2008: D+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.00%
• Current HPI: 170.2233
• 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

Property tax history

+6.1%/yr

Latest (2026): $2,228 · +10.0% YoY. Source: county tax records.