20329 Mission Rd SE · Cass Lake, MN 56633

$94,900

2 bd · 1.0 ba · 1,652 sqft · Other public records · 27 Days on market

Built 1987 10 ac lot

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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 +24.8/30.0
• Appreciation +8.4/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Two bedroom home with double attached garage on 10 beautiful wooded acres. AS-IS. Old moble home also on property.

Key facts

• Heavily wooded
• 10.12 acre lot
• 2 garage spots

Tags

• NORTHWOODS CABIN GETAWAY
• CASS LAKE CHAIN OF LAKES
• CHIPPEWA NATIONAL FOREST
• HEAVILY WOODED
• OUTDOOR OPPORTUNITIES

Property features AI

Exterior

• Parking: Attached garage with gravel driveway; 2-car garage (24 x 28)
• Utilities: Drilled well with 4-inch submersible pump; Private sewer; Propane fuel; Electric service by Beltrami Electric Cooperative
• Home design: Residential property; One-story; Entry on main level
• Construction: Frame construction; Roof older than 8 years; Other foundation
• Exterior features: Vinyl exterior; Heavy tree coverage; Paved county road frontage; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Fuel tank (rented); Living/Dining room configuration; Crawl space basement
• Laundry & utility: Utility room on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.2% in Cass Lake — 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 71/100 on livability (#319 in MN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, health & safety A+; Watch: crime D, amenities F, commute 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.
• Zoned schools: Lincoln Elementary (math 67% / reading 62%, grade B, #130 of 857 statewide, top 18%, 328 students, 50% FRL); Bemidji Middle (math 37% / reading 46%, grade F, #138 of 258 statewide, top 55%, 1,013 students, 48% FRL); Bemidji Senior High (math 47% / reading 67%, grade C, #64 of 471 statewide, top 16%, 1,432 students, 38% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 58 active listings in the ZIP; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($656 loan paydown + $7k appreciation (6.9% local appreciation)).
• At projected returns (6.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $22k; list at $95k implies a 322% gain — meaningful room to come down on a strong offer.

Recommended offer $93,476 (1.5% below list)

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. 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: 1.12% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.71×
• Total profit: $45,311
• Equity at exit: $65,101

10-year hold

• IRR: 22.9%
• Equity multiple: 5.60×
• Total profit: $122,217
• Equity at exit: $123,067

Cash invested: $26,572 (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 56633

• Home prices YoY: 2.1%
• Active inventory: 58
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $201

Break-even live

Break-even rent $813

Max offer price $94,900

Occupancy floor 76%

Sensitivity live

Price	-10% $254	-5% $228	+0% $201	+5% $174	+10% $147
Rent	-10% $116	-5% $159	+0% $201	+5% $243	+10% $285
Rate	-1.0pp $249	-0.5pp $225	base $201	+0.5pp $176	+1.0pp $151

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-22
   days on market $94,900 Active 27 DOM
2. 2026-06-21
   days on market $94,900 Active 26 DOM
3. 2026-06-19
   days on market $94,900 Active 24 DOM
4. 2026-06-18
   days on market $94,900 Active 23 DOM
5. 2026-06-17
   days on market $94,900 Active 22 DOM
6. 2026-06-16
   days on market $94,900 Active 21 DOM
7. 2026-06-15
   days on market $94,900 Active 20 DOM
8. 2026-06-14
   days on market $94,900 Active 18 DOM
9. 2026-06-12
   days on market $94,900 Active 17 DOM
10. 2026-06-09
    days on market $94,900 Active 14 DOM
11. 2026-06-08
    days on market $94,900 Active 13 DOM
12. 2026-06-07
    days on market $94,900 Active 12 DOM
13. 2026-06-05
    days on market $94,900 Active 9 DOM
14. 2026-06-02
    days on market $94,900 Active 7 DOM
15. 2026-06-01
    days on market $94,900 Active 6 DOM
16. 2026-05-31
    days on market $94,900 Active 5 DOM
17. 2026-05-30
    days on market $94,900 Active 4 DOM
18. 2026-05-26
    listed $94,900 Active
19. 2011-03-03
    historical
20. 2011-02-28
    soldstatus $22,500 114-char remark

    Show marketing remark (114 chars)

    Two bedroom home with double attached garage on 10 beautiful wooded acres. AS-IS. Old moble home also on property.

21. 2010-11-16
    listed $33,900
22. 2010-09-17
    listed $33,900 114-char remark

    Show marketing remark (114 chars)

    Two bedroom home with double attached garage on 10 beautiful wooded acres. AS-IS. Old moble home also on property.

23. 2010-09-17
    listed $33,900

    Show marketing remark (114 chars)

    Two bedroom home with double attached garage on 10 beautiful wooded acres. AS-IS. Old moble home also on property.

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/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 4/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,802
• − Mortgage interest: −$5,316
• − Property taxes: −$1,258
• − Insurance: −$474
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$2,761
• Taxable income: $945
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $2,183/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 — Cass Lake

• Score: 71/100
• State rank: #319
• US rank: #7129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,863

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: Highly diverse neighborhood (Simpson 0.90)
• Race & ethnicity: Native American 51% White 32% Two or more races 12% Hispanic / Latino 4% Asian 1%
• Common ancestry: Portuguese 7% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 88% English-only · Other Asian/Pacific 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: ▲ 6.89%
• Current HPI: 340.4577
• 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

+179.9% since first listed

6 events — show timeline

• 2026-05-26 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-02-28 Sold (MLS) $22,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-16 Listed $33,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-17 Listed $33,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-17 Listed $33,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $1,258 · +18.5% YoY. Source: county tax records.