146 N Acres Est · Crookston, MN 56716

$60,000

3 bd · 2.0 ba · 1,216 sqft · Other · 38 Days on market

Built 2009 Poor condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully remodeled, beautiful spacious home complemented with the master bedroom, having a walk-in closet and full bathroom with luxury sliding doors. You never come with brand new modern fridge and stove. 3 full rooms with a an extra mud room / office room with closet. No open house just yet but if you want to come and look at the property, we can schedule an advanced appointment.

Key facts

• Modern fridge
• Walk-in closet
• Full bathroom

Tags

• WALK-IN CLOSET
• FULL BATHROOM
• MODERN FRIDGE
• MODERN STOVE
• EXTRA MUD ROOM
• OFFICE ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 4.2% in Crookston — 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 79/100 on livability (#92 in MN, #2,097 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Crookston Public School District (town): math 46% / reading 49% proficiency, ranked #151 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 42 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Polk County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
6. 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.
7. 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: 1.81% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.75%
• DSCR: 2.41
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.7%
• Equity multiple: 2.11×
• Total profit: $18,600
• Equity at exit: $8,946

10-year hold

• IRR: 34.3%
• Equity multiple: 4.14×
• Total profit: $52,713
• Equity at exit: $5,188

Cash invested: $16,800 (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 56716

• Home prices YoY: -22.0%
• Active inventory: 51
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,087 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $444

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 54%

Sensitivity live

Price	-10% $486	-5% $465	+0% $444	+5% $424	+10% $403
Rent	-10% $359	-5% $401	+0% $444	+5% $487	+10% $530
Rate	-1.0pp $475	-0.5pp $460	base $444	+0.5pp $429	+1.0pp $413

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $60,000 Active 38 DOM
2. 2026-06-18
   days on market $60,000 Active 37 DOM
3. 2026-06-17
   days on market $60,000 Active 36 DOM
4. 2026-06-16
   days on market $60,000 Active 35 DOM
5. 2026-06-15
   days on market $60,000 Active 34 DOM
6. 2026-06-14
   days on market $60,000 Active 32 DOM
7. 2026-06-13
   days on market $60,000 Active 31 DOM
8. 2026-06-10
   days on market $60,000 Active 29 DOM
9. 2026-06-09
   days on market $60,000 Active 28 DOM
10. 2026-06-08
    days on market $60,000 Active 27 DOM
11. 2026-06-07
    days on market $60,000 Active 26 DOM
12. 2026-06-05
    days on market $60,000 Active 23 DOM
13. 2026-06-03
    days on market $60,000 Active 22 DOM
14. 2026-06-02
    days on market $60,000 Active 21 DOM
15. 2026-06-01
    days on market $60,000 Active 20 DOM
16. 2026-05-31
    days on market $60,000 Active 19 DOM
17. 2026-05-30
    days on market $60,000 Active 18 DOM
18. 2026-05-12
    listed $60,000 Active 381-char remark

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,049
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$1,745
• Taxable income: $4,655
• Est. tax owed @ 24.0%: −$1,117
• After-tax cash flow: $4,216/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This home requires extensive repairs and updates, including a new roof, siding, flooring, interior walls, and HVAC systems. The extensive work needed significantly reduces its current value and would require a substantial investment.

Repairs flagged

• Major roof — The roof appears to be old and possibly leaking.
• Major siding — The siding is peeling and in need of repainting or replacement.
• Major flooring — The flooring is likely old and in need of replacement.
• Major interior walls/paint — The interior walls and paint are likely old and in need of repainting.
• Major systems — The systems are likely outdated and in need of replacement or repair.

Value-add opportunities

• Resale new roof — A new roof would significantly improve the home's appearance and reduce the risk of water damage.
• Resale new siding and painting — New siding and repainting would improve the home's curb appeal and increase its resale value.
• Resale new flooring — New flooring would improve the home's appearance and increase its resale value.
• Resale new interior walls and painting — New interior walls and repainting would improve the home's appearance and increase its resale value.
• Both new HVAC and mechanical systems — New HVAC and mechanical systems would improve the home's comfort and energy efficiency, increasing both its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be old and possibly leaking.	Major	$15,000–50,000
siding · The siding is peeling and in need of repainting or replacement.	Major	$15,000–50,000
flooring · The flooring is likely old and in need of replacement.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint are likely old and in need of repainting.	Major	$15,000–50,000
systems · The systems are likely outdated and in need of replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale new roof — A new roof would significantly improve the home's appearance and reduce the risk of water damage. ↑
• Resale new siding and painting — New siding and repainting would improve the home's curb appeal and increase its resale value. ↑
• Resale new flooring — New flooring would improve the home's appearance and increase its resale value. ↑
• Resale new interior walls and painting — New interior walls and repainting would improve the home's appearance and increase its resale value. ↑
• Both new HVAC and mechanical systems — New HVAC and mechanical systems would improve the home's comfort and energy efficiency, increasing both its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Crookston Public School District
• NCES district ID: 2709720
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 49% ▼ -7.00%
• Median HH income: $49,756
• Composite: 40.68/100
• National rank: #3671
• State rank: #151 of 301 in MN

Livability — Crookston

• Score: 79/100
• State rank: #92
• US rank: #2097

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crookston, MN
• Population (ZIP): 8,991

Population outlook (Polk County) Hauer SSP2

• Today (2025): 31,123 people
• By 2030: 30,720 · -1.3%
• By 2040: 29,806 · -4.2%
• By 2050: 29,022 · -6.8%
• By 2075: 27,972 · -10.1%
• By 2100: 26,953 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 9% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Portuguese 28% Lithuanian 8% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+33.8) · D 32.3% · R 66.0% · Other 1.7%
• 2008→2024 swing: -38.3pp toward R · 2008: 4.6pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+28.4 2016: R+29.0 2012: R+5.8 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.06%
• Current HPI: 219.5106
• 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

• 2026-05-12 Listed $60,000 FSBO.com