813 4th St SE · Bemidji, MN 56601

$119,900

2 bd · 1.0 ba · 765 sqft · Other public records · 200 Days on market

Built 1958 6,969 sqft lot ↓ 14% since listing

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• 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 MLS

Welcome to this delightful 2 bedroom, 1 bath gem nestled in one of Bemidji’s most convenient neighborhoods. With 765 square feet of well laid out living space, this home is the perfect blend of comfort, character, and value. Ideal for first time homebuyers, downsizers, or investors seeking strong rental potential. Step inside to find a bright and welcoming living area, a functional kitchen, and two cozy bedrooms filled with natural light. The full bathroom offers clean, simple comfort, while the private yard provides space for relaxing, gardening, or entertaining. Off street parking adds everyday convenience

Key facts

• Off street parking
• Private yard
• 6,969 sq ft lot

Tags

• PRIVATE YARD
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.6% 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); 345 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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 $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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 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?
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: 1.29% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.6%
• Equity multiple: 1.34×
• Total profit: $11,508
• Equity at exit: $17,877

10-year hold

• IRR: 18.6%
• Equity multiple: 2.62×
• Total profit: $54,476
• Equity at exit: $10,367

Cash invested: $33,572 (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 56601

• Home prices YoY: -26.4%
• Rents YoY: 4.0%
• Active inventory: 345
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,551 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$86 /mo · $1,026/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $461

Break-even live

Break-even rent $967

Max offer price $119,900

Occupancy floor 65%

Sensitivity live

Price	-10% $529	-5% $495	+0% $461	+5% $427	+10% $393
Rent	-10% $338	-5% $399	+0% $461	+5% $522	+10% $583
Rate	-1.0pp $521	-0.5pp $491	base $461	+0.5pp $430	+1.0pp $398

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Lake Shore Dr NE #203 Bemidji, MN	1.0	1.0	900	$1,800	$2.00	44d	1	0.38mi
715 Lake Shore Dr NE #104 Bemidji, MN	1.0	1.0	830	$1,600	$1.93	44d	1	0.38mi
1011 Washington Ave S Unit C-02 Bemidji, MN	3.0	1.0	900	$1,200	$1.33	44d	1	0.64mi

Listing history 18 events

1. 2026-06-19
   days on market $119,900 Active 200 DOM
2. 2026-06-18
   days on market $119,900 Active 199 DOM
3. 2026-06-17
   days on market $119,900 Active 198 DOM
4. 2026-06-16
   days on market $119,900 Active 197 DOM
5. 2026-06-15
   days on market $119,900 Active 196 DOM
6. 2026-06-14
   days on market $119,900 Active 194 DOM
7. 2026-06-12
   days on market $119,900 Active 193 DOM
8. 2026-06-09
   days on market $119,900 Active 190 DOM
9. 2026-06-08
   days on market $119,900 Active 189 DOM
10. 2026-06-07
    days on market $119,900 Active 188 DOM
11. 2026-06-05
    days on market $119,900 Active 185 DOM
12. 2026-06-02
    days on market $119,900 Active 183 DOM
13. 2026-06-01
    days on market $119,900 Active 182 DOM
14. 2026-05-31
    days on market $119,900 Active 181 DOM
15. 2026-05-30
    days on market $119,900 Active 180 DOM
16. 2025-11-25
    listed $119,900 Active 621-char remark

    Show marketing remark (621 chars)

    Welcome to this delightful 2 bedroom, 1 bath gem nestled in one of Bemidji’s most convenient neighborhoods. With 765 square feet of well laid out living space, this home is the perfect blend of comfort, character, and value. Ideal for first time homebuyers, downsizers, or investors seeking strong rental potential. Step inside to find a bright and welcoming living area, a functional kitchen, and two cozy bedrooms filled with natural light. The full bathroom offers clean, simple comfort, while the private yard provides space for relaxing, gardening, or entertaining. Off street parking adds everyday convenience

17. 2025-06-04
    historical
18. 2025-05-26
    listed $139,900 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: $1,026 · $86/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$158/yr (+$13/mo · 15.4%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,607
• − Mortgage interest: −$6,716
• − Property taxes: −$1,026
• − Insurance: −$600
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$3,488
• Taxable income: $3,800
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $4,617/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

-14.3% since first listed

3 events — show timeline

• 2025-11-25 Listed $119,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-04 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-05-26 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $1,026 · -20.0% YoY. Source: county tax records.