945 East Ave NE · Bemidji, MN 56601

$150,000

4 bd · 2.0 ba · 1,134 sqft · SingleFamily public records · 50 Days on market

Built 1925 0.86 ac lot $132/sqft · 38% below area Est $237k · 37% under ↓ 8% since listing

---

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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Are you ready to find your new home? Look no further! This charming and cozy house offers everything you need for comfortable living. Spacious Yard: Enjoy a large yard perfect for outdoor activities, gardening, or simply relaxing in the sun. This expansive space is ideal for families, pets, or anyone who loves the outdoors. 3+ Bedrooms: With three or more bedrooms, there's plenty of room for family, guests, or even a home office. 2 Bathrooms: The house features two well-appointed bathrooms, providing convenience for busy mornings or relaxing evenings. Main Floor Laundry: Experience the convenience of a main floor laundry room, making chores a breeze. No more carrying laundry up and down sta

Key facts

• Spacious yard
• Main floor laundry
• New roof

Tags

• SPACIOUS YARD
• MAIN FLOOR LAUNDRY
• NEW ROOF

Property features AI

Exterior

• Parking: Detached/attached 2-car garage (24x24, 8' wide by 7' high doors); Guest parking available
• Utilities: Private water; Private sewer; Electric fuel; Ottertail Power service
• Home design: Residential property with two levels; Main entry level is the main floor
• Construction: Asphalt roof (age 8 years or less); Construction: Other; Foundation: Other (foundation dimensions approx. 43x26); Basement: Unfinished crawl space with sump pump
• Exterior features: Deck (14x14); Cleared lot; No pool; No fencing

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: 4 bedrooms (two on main level, two on upper level); Bedroom sizes include 12x16, 12x12, 10x10, 10x10
• Bathrooms: 2 full bathrooms (includes full primary; main floor full bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans; Main floor primary bedroom; Main floor bedroom; Main floor laundry
• Laundry & utility: Washer and dryer included; Main level laundry (6x7)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.3% in Bemidji — 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 73/100 on livability (#252 in MN) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• 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); 346 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

• ARV (median comp): $237,097
• List price: $150,000
• Delta: -36.73%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $8,918
• Equity at exit: $22,365

10-year hold

• IRR: 15.7%
• Equity multiple: 2.34×
• Total profit: $56,267
• Equity at exit: $12,969

Cash invested: $42,000 (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: 346
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,893 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $491

Break-even live

Break-even rent $1,272

Max offer price $150,000

Occupancy floor 69%

Sensitivity live

Price	-10% $576	-5% $533	+0% $491	+5% $448	+10% $406
Rent	-10% $341	-5% $416	+0% $491	+5% $565	+10% $640
Rate	-1.0pp $566	-0.5pp $529	base $491	+0.5pp $452	+1.0pp $412

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $150,000 Active 50 DOM
2. 2026-06-19
   days on market $150,000 Active 48 DOM
3. 2026-06-18
   days on market $150,000 Active 47 DOM
4. 2026-06-17
   days on market $150,000 Active 46 DOM
5. 2026-06-16
   days on market $150,000 Active 45 DOM
6. 2026-06-15
   days on market $150,000 Active 44 DOM
7. 2026-06-14
   days on market $150,000 Active 42 DOM
8. 2026-06-12
   days on market $150,000 Active 41 DOM
9. 2026-06-09
   days on market $150,000 Active 38 DOM
10. 2026-06-08
    days on market $150,000 Active 37 DOM
11. 2026-06-07
    days on market $150,000 Active 36 DOM
12. 2026-06-05
    days on market $150,000 Active 33 DOM
13. 2026-06-02
    days on market $150,000 Active 31 DOM
14. 2026-06-01
    days on market $150,000 Active 30 DOM
15. 2026-05-31
    days on market $150,000 Active 29 DOM
16. 2026-05-30
    days on market $150,000 Active 28 DOM
17. 2026-05-01
    listed $160,000 Active 957-char remark
18. 2025-03-21
    price $159,000
19. 2024-12-11
    listed $162,500 Active

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/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 6/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,715
• − Mortgage interest: −$8,402
• − Property taxes: −$1,867
• − Insurance: −$750
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$4,364
• Taxable income: $3,698
• Est. tax owed @ 24.0%: −$887
• After-tax cash flow: $5,001/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 — Bemidji

• Score: 73/100
• State rank: #252
• US rank: #5416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bemidji, MN
• County: Beltrami County · 34,784 people
• City population: 34,784
• 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

-7.7% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Listed $160,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-21 Price Changed $159,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-11 Listed $162,500 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2025): $1,867 · +13.4% YoY. Source: county tax records.