805 9th Ave SW Unit B · Perham, MN 56573

$369,500

3 bd · 2.0 ba · 1,602 sqft · SingleFamily · 91 Days on market

Built 2023 Excellent condition 6,969 sqft lot ↓ 1% since listing

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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).

• Cash flow +12.0/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.4/10.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Modern new construction with premium finishes & a prime location. No steps in this stunning patio twin-home featuring 10ft ceilings and luxury vinyl plank flooring throughout. The kitchen and bathrooms boast quartz countertops, while large windows flood the space with natural light. Entertain around the kitchen island or cozy up next to the beautiful gas fireplace. Primary suite w/ double sinks and glass door shower. The exterior is clad in low-maintenance steel siding, complemented by an insulated, finished garage. Located near schools, parks, and the hospital, this home offers convenience and comfort. Benefit from TIF financing to reduce special assessments and no association dues. Experience luxury living with minimal maintenance, call today for a showing!

Key facts

• Large windows
• Quartz countertops
• Patio twin-home

Tags

• PREMIUM FINISHES
• PATIO TWIN-HOME
• 10FT CEILINGS
• LUXURY VINYL PLANK FLOORING
• QUARTZ COUNTERTOPS
• LARGE WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $370k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $357k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (15.4% below list).
• Recommended offer: $312k (15.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#328 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Perham-Dent Public School District (town): math 45% / reading 57% proficiency, ranked #110 of 301 in MN (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Heart of The Lake Elementary (math 54% / reading 51%, grade C-, #364 of 857 statewide, top 43%, 575 students, 47% FRL); Prairie Wind Middle (math 44% / reading 59%, grade C, #65 of 258 statewide, top 26%, 515 students, 38% FRL); Perham Senior High (math 37% / reading 62%, grade D, #143 of 471 statewide, top 33%, 505 students, 36% FRL).
• Market conditions: 93 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 140 units permitted in Otter Tail County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($336k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Recommended offer $312,500 (15.4% 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. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.85% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 9.9

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-65,227
• Equity at exit: $55,094

10-year hold

• IRR: -10.1%
• Equity multiple: 0.39×
• Total profit: $-63,560
• Equity at exit: $31,948

Cash invested: $103,460 (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 56573

• Home prices YoY: -15.8%
• Active inventory: 93
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,125 medium
• Mortgage (P&I): −$1,938
• Tax est. 1.5%: −$462 /mo · $5,542/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $-85

Break-even live

Break-even rent $3,232

Max offer price $357,232

Occupancy floor 98%

Sensitivity live

Price	-10% $171	-5% $43	+0% $-85	+5% $-212	+10% $-340
Rent	-10% $-332	-5% $-208	+0% $-85	+5% $39	+10% $162
Rate	-1.0pp $101	-0.5pp $9	base $-85	+0.5pp $-181	+1.0pp $-278

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: $92,375
• Closing costs: $11,085
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 7th St SW Unit A Perham, MN	3.0	2.0	1602	$3,750	$2.34	45d	1	0.15mi
812 7th St SW Unit B Perham, MN	3.0	2.0	1602	$2,500	$1.56	45d	1	0.15mi

Listing history 28 events

1. 2026-06-22
   days on market $369,500 Active 91 DOM
2. 2026-06-21
   days on market $369,500 Active 90 DOM
3. 2026-06-21
   days on market $369,500 Active 89 DOM
4. 2026-06-18
   days on market $369,500 Active 87 DOM
5. 2026-06-17
   days on market $369,500 Active 86 DOM
6. 2026-06-16
   days on market $369,500 Active 85 DOM
7. 2026-06-15
   days on market $369,500 Active 84 DOM
8. 2026-06-13
   days on market $369,500 Active 82 DOM
9. 2026-06-12
   days on market $369,500 Active 81 DOM
10. 2026-06-09
    days on market $369,500 Active 78 DOM
11. 2026-06-08
    days on market $369,500 Active 77 DOM
12. 2026-06-07
    days on market $369,500 Active 76 DOM
13. 2026-06-07
    days on market $369,500 Active 75 DOM
14. 2026-06-04
    days on market $369,500 Active 72 DOM
15. 2026-06-02
    days on market $369,500 Active 71 DOM
16. 2026-06-01
    days on market $369,500 Active 70 DOM
17. 2026-05-31
    days on market $369,500 Active 69 DOM
18. 2026-05-31
    days on market $369,500 Active 68 DOM
19. 2026-03-23
    listed $369,500 Active 773-char remark

    Show marketing remark (773 chars)

    Modern new construction with premium finishes & a prime location. No steps in this stunning patio twin-home featuring 10ft ceilings and luxury vinyl plank flooring throughout. The kitchen and bathrooms boast quartz countertops, while large windows flood the space with natural light. Entertain around the kitchen island or cozy up next to the beautiful gas fireplace. Primary suite w/ double sinks and glass door shower. The exterior is clad in low-maintenance steel siding, complemented by an insulated, finished garage. Located near schools, parks, and the hospital, this home offers convenience and comfort. Benefit from TIF financing to reduce special assessments and no association dues. Experience luxury living with minimal maintenance, call today for a showing!

20. 2026-03-23
    historical

    Show marketing remark (773 chars)

    Modern new construction with premium finishes & a prime location. No steps in this stunning patio twin-home featuring 10ft ceilings and luxury vinyl plank flooring throughout. The kitchen and bathrooms boast quartz countertops, while large windows flood the space with natural light. Entertain around the kitchen island or cozy up next to the beautiful gas fireplace. Primary suite w/ double sinks and glass door shower. The exterior is clad in low-maintenance steel siding, complemented by an insulated, finished garage. Located near schools, parks, and the hospital, this home offers convenience and comfort. Benefit from TIF financing to reduce special assessments and no association dues. Experience luxury living with minimal maintenance, call today for a showing!

21. 2025-09-17
    price $362,500
22. 2025-08-29
    status Active
23. 2025-08-29
    historical
24. 2025-03-03
    status Active
25. 2025-03-01
    historical
26. 2024-08-29
    listed $369,000 Active
27. 2024-04-17
    historical
28. 2024-03-20
    listed $375,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,500
• − Mortgage interest: −$20,698
• − Property taxes: −$5,542
• − Insurance: −$1,848
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$10,749
• Taxable loss: −$7,337
• Est. tax savings @ 24.0%: +$1,761
• After-tax cash flow: $743/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 · 12 photos

Excellent 95/100 None rehab

This modern new construction home is in excellent condition with premium finishes and a prime location. It is move-in ready with no repairs needed.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and rental value
• Both Add smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Add smart home features — Enhances convenience and marketability ↑

ⓘ 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: Perham-Dent Public School District
• NCES district ID: 2728230
• Math proficiency: 45% ▼ -14.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $50,712
• Composite: 43.64/100
• National rank: #2966
• State rank: #110 of 301 in MN

Livability — Perham

• Score: 70/100
• State rank: #328
• US rank: #7425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perham, MN
• Population (ZIP): 6,868

Population outlook (Otter Tail County) Hauer SSP2

• Today (2025): 58,183 people
• By 2030: 58,267 · +0.1%
• By 2040: 57,999 · -0.3%
• By 2050: 57,183 · -1.7%
• By 2075: 57,638 · -0.9%
• By 2100: 54,697 · -6.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Portuguese 18% Romanian 6% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Otter Tail

• 2024 margin: Solid R (+34.2) · D 32.1% · R 66.3% · Other 1.6%
• 2008→2024 swing: -21.3pp toward R · 2008: -12.9pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+32.5 2016: R+35.9 2012: R+21.2 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.48%
• Current HPI: 225.7071
• 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

-1.5% since first listed

10 events — show timeline

• 2026-03-23 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-23 Listed $369,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-17 Price Changed $362,500 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-29 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-29 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-03 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2025-03-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-08-29 Listed $369,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-17 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-20 Listed $375,000 NORTHSTARMLS as Distributed by MLS Grid