601 N Front St · Crookston, MN 56716

$109,500

2 bd · 2.0 ba · 983 sqft · SingleFamily public records · 20 Days on market

Built 1947 7,013 sqft lot $111/sqft · 13% below area Est $130k · 15% under

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Why this score? — see what drove the D- 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).

• ARV discount +14.4/15.0
• Cash flow +6.1/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

Key facts

• 7,013 sq ft lot
• Built 1947
• Listed 20 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $73k (33.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $66k (39.4% below list).
• Recommended offer: $66k (39.4% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Highland Elementary (math 51% / reading 53%, grade C-, #368 of 857 statewide, top 47%, 435 students, 66% FRL); Crookston Secondary (math 40% / reading 45%, grade F, #215 of 471 statewide, top 46%, 547 students, 55% FRL) — zoned schools average 60% FRL vs 37% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $757 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y 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 $32k; list at $110k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,304 (39.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1947 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.61% ✗
• Cap rate: 4.04%
• Cash-on-cash: -8.05%
• DSCR: 0.64
• GRM: 13.8

CMA / ARV

• ARV (median comp): $129,500
• List price: $109,500
• Delta: -15.44%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Maple St	0.53mi	2/1.0	1,008 (+2%)	5mo	$129,900	$129	63
510 1st Ave NE	0.56mi	2/1.0	983 (0%)	9mo	$87,000	$89	63
714 Alexander Ave	0.54mi	2/1.0	957 (-3%)	7mo	$25,000	$26	61
1400 Radisson Rd	0.41mi	3/2.0 (+1)	1,056 (+7%)	12mo	$215,000	$204	53
234 3rd Ave N	0.42mi	2/1.0	1,080 (+10%)	9mo	$135,000	$125	53
1612 Stephens Drive Dr	0.53mi	1/2.0 (-1)	1,040 (+6%)	16mo	$180,000	$173	47
114 Nelson St S	0.68mi	3/2.0 (+1)	1,056 (+7%)	7mo	$42,500	$40	46
520 1st Ave NE	0.58mi	3/2.0 (+1)	1,092 (+11%)	5mo	$189,000	$173	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -30.4%
• Equity multiple: -0.01×
• Total profit: $-30,842
• Equity at exit: $16,327

10-year hold

• IRR: -32.6%
• Equity multiple: -0.43×
• Total profit: $-43,742
• Equity at exit: $9,468

Cash invested: $30,660 (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: 52
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $663 medium
• Mortgage (P&I): −$574
• Tax from tax record: −$110 /mo · $1,314/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$139
• Net cashflow: $-206

Break-even live

Break-even rent $923

Max offer price $73,188

Occupancy floor —

Sensitivity live

Price	-10% $-144	-5% $-175	+0% $-206	+5% $-237	+10% $-268
Rent	-10% $-258	-5% $-232	+0% $-206	+5% $-179	+10% $-153
Rate	-1.0pp $-150	-0.5pp $-178	base $-206	+0.5pp $-234	+1.0pp $-263

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: $27,375
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 S Main St Crookston, MN	1.0	1.0	625	$545	$0.87	45d	1	0.42mi
1700 Widman Ln Crookston, MN	1.0	1.0	651	$825	$1.27	45d	7	0.60mi

Listing history 13 events

1. 2026-05-07
   status Pending 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

2. 2026-04-30
   status Pending 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

3. 2026-04-17
   listed $109,500 Active 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

4. 2026-03-30
   status Active 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

5. 2026-03-10
   listed Active Under Contract 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

6. 2026-03-06
   listed $109,500 146-char remark

   Show marketing remark (146 chars)

   Cozy, versatile and full of opportunity! This well-maintained property can serve as a single family home or easily function as two separate units.

7. 2026-01-05
   historical
8. 2025-11-13
   listed $109,500 Active
9. 2025-11-13
   listed $109,500 Active
10. 2017-10-26
    historical
11. 2017-10-13
    listed $68,500
12. 2017-10-13
    listed $68,500
13. 1996-08-01
    soldstatus $32,000

ⓘ 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: $1,314 · $110/mo
• Projected year-2 tax: $1,314 · $110/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 6/10 Major 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $7,956
• − Mortgage interest: −$6,134
• − Property taxes: −$1,314
• − Insurance: −$548
• − Repairs & maintenance: −$637
• − Management: −$637
• − Depreciation: −$3,185
• Taxable loss: −$4,497
• Est. tax savings @ 24.0%: +$1,079
• After-tax cash flow: $-1,387/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: 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

+242.2% since first listed

13 events — show timeline

• 2026-05-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-30 Pending — GFAAR
• 2026-04-17 Listed $109,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Relisted — GFAAR
• 2026-03-10 Listed — GFAAR
• 2026-03-06 Listed $109,500 GFAAR
• 2026-01-05 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-11-13 Listed $109,500 GFAAR
• 2025-11-13 Listed $109,500 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-26 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-13 Listed $68,500 GFAAR
• 2017-10-13 Listed $68,500 NORTHSTARMLS as Distributed by MLS Grid
• 1996-08-01 Sold (Public Records) $32,000 Public Records

Property tax history

+4.1%/yr

Latest (2026): $1,314 · -10.0% YoY. Source: county tax records.