913 Mississippi Ave NW · Bemidji, MN 56601

$165,000

4 bd · 1.0 ba · 1,096 sqft · Other public records · 37 Days on market

Built 1910 6,969 sqft lot

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Why this score? — see what drove the C+ 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• 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

This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

Key facts

• 6,969 sq ft lot
• Built 1910
• Listed 37 days

Property features AI

Finance

• Financial info: Mortgage type: FHA; Tax information available (tax year 2026)
• HOA & community: $191 other annual assessment

Exterior

• Parking: Gravel parking
• Utilities: City water connected; City sewer connected; Natural gas; Electric with circuit breakers (Ottertail Power)
• Home design: Residential property; Two levels; Entry faces the street
• Construction: Frame construction; Asphalt roof; Block foundation (foundation area 704); Built with 16x44 foundation dimensions
• Exterior features: Covered front porch; Wood exterior

Interior

• Kitchen: Includes dishwasher, range, refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bath (main floor)
• Heating & cooling: Forced air heating; No central air
• Interior features: Dishwasher, Range, Refrigerator; Full unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $165k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.3% 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.
• Zoned schools: Paul Bunyan Center (96 students, 64% 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).
• Market conditions: Rents rising fast (+4.0%/yr); 346 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 165 units permitted in Beltrami County in 2024 (81 in 5+ unit buildings).
• This rent runs 31% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
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: 1.14% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.22%
• DSCR: 1.54
• GRM: 7.3

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: 2.8%
• Equity multiple: 1.11×
• Total profit: $5,113
• Equity at exit: $24,602

10-year hold

• IRR: 13.3%
• Equity multiple: 2.10×
• Total profit: $50,975
• Equity at exit: $14,266

Cash invested: $46,200 (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: 346
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$79 /mo · $946/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $470

Break-even live

Break-even rent $1,282

Max offer price $165,000

Occupancy floor 70%

Sensitivity live

Price	-10% $564	-5% $517	+0% $470	+5% $424	+10% $377
Rent	-10% $322	-5% $396	+0% $470	+5% $544	+10% $619
Rate	-1.0pp $553	-0.5pp $512	base $470	+0.5pp $428	+1.0pp $384

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Bixby Ave NE Bemidji, MN	4.0	2.0	1264	$1,750	$1.38	45d	1	0.56mi

Listing history 35 events

1. 2026-06-21
   days on market $165,000 Active 37 DOM
2. 2026-06-19
   days on market $165,000 Active 35 DOM
3. 2026-06-18
   days on market $165,000 Active 34 DOM
4. 2026-06-17
   days on market $165,000 Active 33 DOM
5. 2026-06-16
   days on market $165,000 Active 32 DOM
6. 2026-06-15
   days on market $165,000 Active 31 DOM
7. 2026-06-14
   days on market $165,000 Active 29 DOM
8. 2026-06-12
   days on market $165,000 Active 28 DOM
9. 2026-06-09
   days on market $165,000 Active 25 DOM
10. 2026-06-08
    days on market $165,000 Active 24 DOM
11. 2026-06-07
    days on market $165,000 Active 23 DOM
12. 2026-06-05
    days on market $165,000 Active 20 DOM
13. 2026-06-02
    days on market $165,000 Active 18 DOM
14. 2026-06-01
    days on market $165,000 Active 17 DOM
15. 2026-05-31
    days on market $165,000 Active 16 DOM
16. 2026-05-30
    days on market $165,000 Active 15 DOM
17. 2026-05-15
    listed $165,000 Active 584-char remark
18. 2026-05-11
    historical $165,000 584-char remark
19. 2024-10-08
    soldstatus $149,250 Sold 467-char remark

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

20. 2024-10-08
    soldstatus $149,248

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

21. 2024-10-02
    status Pending 467-char remark

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

22. 2024-08-26
    historical Contingent - Inspection 467-char remark

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

23. 2024-08-14
    price $144,900 467-char remark

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

24. 2024-07-24
    listed $149,900 Active 467-char remark

    Show marketing remark (467 chars)

    This 4 bedroom 1 bathroom home lays well on this lot. With a fenced in back yard, covered front porch, a park right across the street and off street parking barely scratches the surface of the value in this property. As you walk in, you will find 2 bedrooms up and 2 on the main floor. A full main floor bathroom with a claw tub shower combo! Find yourself cooking in the spacious kitchen and plenty of cabinets for storage. To wrap it all up there is a new furnace.

25. 2022-09-27
    soldstatus $139,900
26. 2022-09-26
    soldstatus $139,900 Sold

    Show marketing remark (240 chars)

    Ready to move in or rent. Current Rental License. 4BR 1BA home located in downtown. Perfect location for walking to the stores in downtown or west end of town. Fenced in backyard perfect for the pets. Make this your new investment or home.

27. 2022-08-26
    status Pending

    Show marketing remark (240 chars)

    Ready to move in or rent. Current Rental License. 4BR 1BA home located in downtown. Perfect location for walking to the stores in downtown or west end of town. Fenced in backyard perfect for the pets. Make this your new investment or home.

28. 2022-08-22
    listed $139,900 Active

    Show marketing remark (240 chars)

    Ready to move in or rent. Current Rental License. 4BR 1BA home located in downtown. Perfect location for walking to the stores in downtown or west end of town. Fenced in backyard perfect for the pets. Make this your new investment or home.

29. 2022-01-28
    historical
30. 2022-01-12
    listed $139,900 Active
31. 2019-09-16
    soldstatus $85,000
32. 2019-09-16
    listed $85,000
33. 2011-03-30
    soldstatus $30,000
34. 2010-09-10
    listed $30,200
35. 2010-09-10
    listed $30,200

ⓘ 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: $946 · $79/mo
• Projected year-2 tax: $1,397 · $116/mo
• Expected delta: +$451/yr (+$38/mo · 47.7%)

ⓘ 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: $22,529
• − Mortgage interest: −$9,243
• − Property taxes: −$946
• − Insurance: −$825
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$4,800
• Taxable income: $3,111
• Est. tax owed @ 24.0%: −$747
• After-tax cash flow: $4,897/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

+446.4% since first listed

19 events — show timeline

• 2026-05-15 Listed $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Coming Soon $165,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-08 Sold (Public Records) $149,248 Public Records
• 2024-10-08 Sold (MLS) $149,250 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-02 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-26 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-14 Price Changed $144,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-24 Listed $149,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-09-27 Sold (Public Records) $139,900 Public Records
• 2022-09-26 Sold (MLS) $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-26 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2022-08-22 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-28 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2022-01-12 Listed $139,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-16 Listed $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-09-16 Sold (MLS) $85,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-03-30 Sold (MLS) $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-10 Listed $30,200 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-10 Listed $30,200 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $946 · +7.0% YoY. Source: county tax records.