307 Main St N · Greenbush, MN 56726

$74,900

1 bd · 1.0 ba · 784 sqft · SingleFamily public records · 64 Days on market

Built 1975 3,267 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +6.1/10.0
• Appreciation +5.3/10.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

When Opportunity Knocks! Great opportunity for anyone looking for big square footage at a fraction of the price. Could make for a great investment opportunity or AirBNB as the building offers over 2800 square feet offering lots of space for a new business or future home. The property has been well cared for and is a tremendous value at under $50 a square foot. Give us a call today to schedule a showing.

Key facts

• 3,267 sq ft lot
• Built 1975
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $103 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($832 rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#300 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B+; Watch: health & safety D+, crime D, amenities F.
• Greenbush-Middle River School District (rural): math 55% / reading 60% proficiency, ranked #186 of 467 in MN (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 49 units permitted in Roseau County in 2024 (15 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($518 loan paydown + $503 appreciation (0.7% local appreciation)).
• Roseau County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 1.11% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.32×
• Total profit: $6,808
• Equity at exit: $24,299

10-year hold

• IRR: 11.0%
• Equity multiple: 2.29×
• Total profit: $27,142
• Equity at exit: $31,331

Cash invested: $20,972 (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 56726

• Home prices YoY: 0.7%
• Active inventory: 6
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $832 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$130 /mo · $1,566/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $103

Break-even live

Break-even rent $702

Max offer price $74,900

Occupancy floor 83%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $74,900 Active 64 DOM
2. 2026-06-17
   days on market $74,900 Active 63 DOM
3. 2026-06-16
   days on market $74,900 Active 62 DOM
4. 2026-06-15
   days on market $74,900 Active 61 DOM
5. 2026-06-13
   days on market $74,900 Active 59 DOM
6. 2026-06-12
   pricedays on market $74,900 Active 58 DOM
7. 2026-06-09
   days on market $79,900 Active 55 DOM
8. 2026-06-08
   days on market $79,900 Active 54 DOM
9. 2026-06-07
   days on market $79,900 Active 53 DOM
10. 2026-06-05
    days on market $79,900 Active 51 DOM
11. 2026-06-04
    days on market $79,900 Active 49 DOM
12. 2026-06-02
    days on market $79,900 Active 48 DOM
13. 2026-06-01
    days on market $79,900 Active 47 DOM
14. 2026-05-31
    days on market $79,900 Active 46 DOM
15. 2026-05-31
    days on market $79,900 Active 45 DOM
16. 2026-04-13
    listed $79,900 Active 406-char remark

    Show marketing remark (406 chars)

    When Opportunity Knocks! Great opportunity for anyone looking for big square footage at a fraction of the price. Could make for a great investment opportunity or AirBNB as the building offers over 2800 square feet offering lots of space for a new business or future home. The property has been well cared for and is a tremendous value at under $50 a square foot. Give us a call today to schedule a showing.

ⓘ 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: $1,566 · $130/mo
• Projected year-2 tax: $1,566 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $9,989
• − Mortgage interest: −$4,196
• − Property taxes: −$1,566
• − Insurance: −$374
• − Repairs & maintenance: −$799
• − Management: −$799
• − Depreciation: −$2,179
• Taxable income: $76
• Est. tax owed @ 24.0%: −$18
• After-tax cash flow: $1,219/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: Greenbush-Middle River School District
• NCES district ID: 2700107
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $49,269
• Composite: 50.64/100
• National rank: #3947
• State rank: #186 of 467 in MN

Livability — Greenbush

• Score: 71/100
• State rank: #300
• US rank: #6590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenbush, MN
• Population (ZIP): 1,576

Population outlook (Roseau County) Hauer SSP2

• Today (2025): 15,709 people
• By 2030: 15,559 · -1.0%
• By 2040: 15,168 · -3.4%
• By 2050: 14,539 · -7.4%
• By 2075: 13,430 · -14.5%
• By 2100: 11,713 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Asian 4% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 41% Romanian 12% Scottish 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Vietnamese 1%

Political lean MEDSL · Roseau

• 2024 margin: Solid R (+49.3) · D 24.7% · R 74.0% · Other 1.3%
• 2008→2024 swing: -31.9pp toward R · 2008: -17.4pp · 2024: -49.3pp
• All cycles: 2024: R+49.3 2020: R+46.0 2016: R+46.3 2012: R+22.3 2008: R+17.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.67%
• Current HPI: 101.0623
• 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

1 event — show timeline

• 2026-04-13 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

-3.7%/yr

Latest (2026): $1,566 · -5.8% YoY. Source: county tax records.