723 6th St · International Falls, MN 56649

$139,900

2 bd · 4.0 ba · 790 sqft · Other public records · 136 Days on market

Built 1930 4,791 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +4.4/30.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $-364 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (45.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (39.7% below list).
• Recommended offer: $76k (45.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#242 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities D-, commute F.
• International Falls School District (town): math 40% / reading 45% proficiency, ranked #211 of 301 in MN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 70 active listings in the ZIP; 26 units permitted in Koochiching County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Koochiching County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $140k implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,622 (45.9% 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. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
8. 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.
9. 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.
10. 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: 0.60% ✗
• Cap rate: 3.17%
• Cash-on-cash: -11.15%
• DSCR: 0.50
• GRM: 13.8

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: -36.6%
• Equity multiple: -0.17×
• Total profit: $-45,793
• Equity at exit: $20,860

10-year hold

• IRR: -51.0%
• Equity multiple: -0.77×
• Total profit: $-69,507
• Equity at exit: $12,096

Cash invested: $39,172 (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 56649

• Home prices YoY: -22.7%
• Active inventory: 70
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $843 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$238 /mo · $2,858/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $-364

Break-even live

Break-even rent $1,304

Max offer price $75,622

Occupancy floor —

Sensitivity live

Price	-10% $-285	-5% $-324	+0% $-364	+5% $-403	+10% $-443
Rent	-10% $-430	-5% $-397	+0% $-364	+5% $-331	+10% $-297
Rate	-1.0pp $-293	-0.5pp $-328	base $-364	+0.5pp $-400	+1.0pp $-437

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $139,900 Active 136 DOM
2. 2026-06-21
   pricedays on market $139,900 Active 135 DOM
3. 2026-06-18
   days on market $149,900 Active 133 DOM
4. 2026-06-17
   days on market $149,900 Active 132 DOM
5. 2026-06-16
   days on market $149,900 Active 131 DOM
6. 2026-06-15
   days on market $149,900 Active 130 DOM
7. 2026-06-13
   days on market $149,900 Active 128 DOM
8. 2026-06-12
   days on market $149,900 Active 127 DOM
9. 2026-06-09
   days on market $149,900 Active 124 DOM
10. 2026-06-08
    days on market $149,900 Active 123 DOM
11. 2026-06-07
    days on market $149,900 Active 122 DOM
12. 2026-06-07
    days on market $149,900 Active 121 DOM
13. 2026-06-04
    days on market $149,900 Active 118 DOM
14. 2026-06-02
    days on market $149,900 Active 117 DOM
15. 2026-06-01
    days on market $149,900 Active 116 DOM
16. 2026-05-31
    days on market $149,900 Active 115 DOM
17. 2026-05-31
    days on market $149,900 Active 114 DOM
18. 2026-04-29
    price $149,900 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

19. 2026-04-29
    price $149,900 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

20. 2026-03-10
    price $159,900 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

21. 2026-03-10
    price $159,900 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

22. 2026-02-04
    listed $169,900 Active 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

23. 2026-02-04
    listed $169,900 Active 446-char remark

    Show marketing remark (446 chars)

    This well-located duplex features two units- one 1 bed /1 bath and one 2 bed/1 bath- offering strong rental flexibility. Situated on a corner lot with a 22x24 two-stall garage for off-street parking and storage. The 2-bedroom unit also includes an unfinished basement with an additional 1/4 bath and a non-conforming room, providing extra storage or flexible space. Great investment opportunity or owner-occupant looking to offset their mortgage.

24. 2007-04-03
    soldstatus $34,000
25. 2006-04-01
    soldstatus $37,000

ⓘ 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: $2,858 · $238/mo
• Projected year-2 tax: $2,858 · $238/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°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: $10,120
• − Mortgage interest: −$7,837
• − Property taxes: −$2,858
• − Insurance: −$700
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$4,070
• Taxable loss: −$6,963
• Est. tax savings @ 24.0%: +$1,671
• After-tax cash flow: $-2,695/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: International Falls School District
• NCES district ID: 2715000
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 45% ▼ -18.00%
• Median HH income: $42,926
• Composite: 35.88/100
• National rank: #4813
• State rank: #211 of 301 in MN

Livability — International Falls

• Score: 73/100
• State rank: #242
• US rank: #5197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: International Falls, MN
• Population (ZIP): 8,895

Population outlook (Koochiching County) Hauer SSP2

• Today (2025): 11,977 people
• By 2030: 11,406 · -4.8%
• By 2040: 10,045 · -16.1%
• By 2050: 8,746 · -27.0%
• By 2075: 6,363 · -46.9%
• By 2100: 4,275 · -64.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 20% Lithuanian 5% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Koochiching

• 2024 margin: Strong R (+25.7) · D 36.4% · R 62.0% · Other 1.6%
• 2008→2024 swing: -35.8pp toward R · 2008: 10.1pp · 2024: -25.7pp
• All cycles: 2024: R+25.7 2020: R+21.3 2016: R+20.0 2012: D+9.5 2008: D+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.62%
• Current HPI: 176.118
• 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

+305.1% since first listed

8 events — show timeline

• 2026-04-29 Price Changed $149,900 RAOR
• 2026-04-29 Price Changed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $159,900 RAOR
• 2026-03-10 Price Changed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-04 Listed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-04 Listed $169,900 RAOR
• 2007-04-03 Sold (Public Records) $34,000 Public Records
• 2006-04-01 Sold (Public Records) $37,000 Public Records

Property tax history

+12.9%/yr

Latest (2026): $2,858 · +20.3% YoY. Source: county tax records.