115 Balsam Ridge Rd NW · Wilton, MN 56601

$119,900

1 bd · 1.0 ba · 672 sqft · SingleFamily · 3 Days on market

Built 2010 12 ac 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This listing has a nice metal shop/garage a 4 inch well, and heavily wooded acreage along grant creek. Boasting over 11 acres this one is ready for you to build your dream home, or hunting paradise. There is currently a mobile home on the property in rough condition.

Key facts

• Almost 12 acres
• Move in ready
• 11.55 acre lot

Tags

• ALMOST 12 ACRES
• LESS THAN 5 MINUTES TO BEMIDJI
• MOVE IN READY

Property features AI

Finance

• Financial info: Annual taxes listed

Exterior

• Parking: Gravel parking
• Utilities: Drilled 4-inch submersible well; Mound septic (system compliant); Propane fuel
• Home design: Residential property; One story; Entry on main level; Facing info not provided
• Construction: Slab foundation; Built on a 26x26 foundation area
• Exterior features: Approximately 11.55-acre lot (irregular dimensions); Gravel parking

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Heat pump; Ductless mini-split heating and cooling
• Interior features: No basement; One level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads 62/100 on livability (#703 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D.
• Bemidji Public School District (rural): math 42% / reading 50% proficiency, ranked #173 of 301 in MN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.0%/yr); 345 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $35k; list at $120k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $119,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.02% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-4,528
• Equity at exit: $17,877

10-year hold

• IRR: 7.1%
• Equity multiple: 1.56×
• Total profit: $18,794
• Equity at exit: $10,367

Cash invested: $33,572 (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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 345
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$64 /mo · $766/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $215

Break-even live

Break-even rent $940

Max offer price $119,900

Occupancy floor 77%

Sensitivity live

Price	-10% $283	-5% $249	+0% $215	+5% $181	+10% $147
Rent	-10% $119	-5% $167	+0% $215	+5% $263	+10% $311
Rate	-1.0pp $275	-0.5pp $245	base $215	+0.5pp $184	+1.0pp $152

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   status $119,900 Pending 3 DOM
2. 2026-06-01
   days on market $119,900 Active 3 DOM
3. 2026-05-31
   days on market $119,900 Active 2 DOM
4. 2026-05-29
   listed $119,900 Active
5. 2025-01-22
   status Pending 267-char remark

   Show marketing remark (267 chars)

   This listing has a nice metal shop/garage a 4 inch well, and heavily wooded acreage along grant creek. Boasting over 11 acres this one is ready for you to build your dream home, or hunting paradise. There is currently a mobile home on the property in rough condition.

6. 2025-01-10
   soldstatus $34,900 Sold 267-char remark

   Show marketing remark (267 chars)

   This listing has a nice metal shop/garage a 4 inch well, and heavily wooded acreage along grant creek. Boasting over 11 acres this one is ready for you to build your dream home, or hunting paradise. There is currently a mobile home on the property in rough condition.

7. 2024-11-29
   historical Contingent - Sale of Another Property 267-char remark

   Show marketing remark (267 chars)

   This listing has a nice metal shop/garage a 4 inch well, and heavily wooded acreage along grant creek. Boasting over 11 acres this one is ready for you to build your dream home, or hunting paradise. There is currently a mobile home on the property in rough condition.

8. 2024-11-15
   listed $57,899 Active 267-char remark

   Show marketing remark (267 chars)

   This listing has a nice metal shop/garage a 4 inch well, and heavily wooded acreage along grant creek. Boasting over 11 acres this one is ready for you to build your dream home, or hunting paradise. There is currently a mobile home on the property in rough condition.

ⓘ 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: $766 · $64/mo
• Projected year-2 tax: $1,054 · $88/mo
• Expected delta: +$288/yr (+$24/mo · 37.7%)

ⓘ 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 7/10 Severe
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,542
• − Mortgage interest: −$6,716
• − Property taxes: −$766
• − Insurance: −$600
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,488
• Taxable income: $645
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $2,422/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: Bemidji Public School District
• NCES district ID: 2704440
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $47,735
• Composite: 39.22/100
• National rank: #4013
• State rank: #173 of 301 in MN

Livability — Wilton

• Score: 62/100
• State rank: #703
• US rank: #16937

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Beltrami County · 34,784 people
• Metro: Bemidji, MN
• Population (ZIP): 34,784
• Household income: $72,262
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 940.0

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 (80%)
• Race & ethnicity: White 80% Native American 8% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Portuguese 19% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% 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: ▼ -93.95%
• Current HPI: 261.5734
• Rent YoY: ▲ 4.02%
• Metro: Bemidji, 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

+107.1% since first listed

5 events — show timeline

• 2026-05-29 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-01-10 Sold (MLS) $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-29 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-11-15 Listed $57,899 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $766 · +16.8% YoY. Source: county tax records.