1101 Bemidji Ave N
Triplex · 3 units: 2 bed / 1 bath and 1 bed / 1 bath ×2 unit split estimated · 2,098 sq ft
Bemidji, MN · View the listing ↗
Photos courtesy of Grimes Realty - Broker, via Realtor.com.
- Asking price
- $193,000 3 units · $64K per unit
- Monthly cash flow
- $750 at 20% down, 7%
- Estimated rent
- $3,450/mo medium confidence
- Break-even price
- $333,887 where cash flow hits $0
First look
This is a 1910 triplex in Bemidji asking $193K, and our numbers show about $750/mo cash flow at 20% down with a 11% cap rate. That looks good, but it rests on our rent estimates, because the listing gives no actual rents and no tax figure. It has sat 151 days, so ask why. The description says 'all currently leased' but gives no lease terms. The photos show a basement-level Unit 3 with drop ceiling and paneling, so confirm it is a legal, licensed unit with egress. Get the rent roll, tax bill and utility costs first, then decide whether to tour.
Things to consider
- Rents are our estimates, not actuals The cash flow figure depends on estimated rents, and the listing does not state what tenants pay. Actual rents could be lower or higher.
- Heat costs could cut into cash flow One new boiler suggests the owner may be paying heat for the building. That is a large expense in a Minnesota winter, and our figure may not fully reflect it.Listing says: “a new boiler, soffits, fascia, and gutters”
- Basement unit legality An unlicensed or non-egress unit could be lost income and a code issue. This affects both value and insurance.From photo 9
- Taxes and unit count unverified We could not match a county parcel, so the tax figure is an assumption. A higher bill would lower cash flow.
- Negotiating room 151 days on market suggests the seller may accept a lower price, which helps returns.
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneNew carpet and paint in Units 1 and 3Listing says: new carpet and paint in Units 1 and 3
- doneNew refrigerator in Unit 1Listing says: a new refrigerator in Unit 1
- doneNew ceiling tiles in Unit 3Listing says: new ceiling tiles in Unit 3
- doneUpdated electrical throughoutListing says: updated electrical throughout
- doneNew boiler, soffits, fascia and guttersListing says: major exterior upgrades including a new boiler, soffits, fascia, and gutters
AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.
The numbers
Edit rents, costs and assumptions
Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).
The deal
- Price
- $193,000
- Cash to close
- $25,090
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $513/mo
- Cash-on-cash
- 24.5%
- Cap rate
- 11.0%
- DSCR
- 1.41×
Break-even
- Price that breaks even
- $271,302
- Rent that breaks even
- $2,784/mo
Long run
- Year 30: property vs stocks
- $1.78M vs $191K
- Cash flow turns positive
- year 1
The deal
- Price
- $193,000
- Cash to close
- $25,090
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $221/mo
- Cash-on-cash
- 10.6%
- Cap rate
- 9.2%
- DSCR
- 1.17×
Break-even
- Price that breaks even
- $226,743
- Rent that breaks even
- $3,128/mo
Long run
- Year 30: property vs stocks
- $1.33M vs $191K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $23,790
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $578/mo
- Cash-on-cash
- 29.2%
- Cap rate
- 11.7%
- DSCR
- 1.48×
Break-even
- Price that breaks even
- $271,302
- Rent that breaks even
- $2,699/mo
Long run
- Year 30: property vs stocks
- $1.83M vs $181K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $23,790
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $287/mo
- Cash-on-cash
- 14.5%
- Cap rate
- 9.7%
- DSCR
- 1.24×
Break-even
- Price that breaks even
- $226,743
- Rent that breaks even
- $3,032/mo
Long run
- Year 30: property vs stocks
- $1.37M vs $181K
- Cash flow turns positive
- year 1
The deal
- Price
- $193,000
- Cash to close
- $44,390
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $750/mo
- Cash-on-cash
- 20.3%
- Cap rate
- 11.0%
- DSCR
- 1.73×
Break-even
- Price that breaks even
- $333,887
- Rent that breaks even
- $2,476/mo
Long run
- Year 30: property vs stocks
- $1.96M vs $338K
- Cash flow turns positive
- year 1
The deal
- Price
- $193,000
- Cash to close
- $44,390
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $458/mo
- Cash-on-cash
- 12.4%
- Cap rate
- 9.2%
- DSCR
- 1.45×
Break-even
- Price that breaks even
- $279,049
- Rent that breaks even
- $2,782/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $338K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $42,090
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $803/mo
- Cash-on-cash
- 22.9%
- Cap rate
- 11.7%
- DSCR
- 1.82×
Break-even
- Price that breaks even
- $333,887
- Rent that breaks even
- $2,407/mo
Long run
- Year 30: property vs stocks
- $2.00M vs $320K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $42,090
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $511/mo
- Cash-on-cash
- 14.6%
- Cap rate
- 9.7%
- DSCR
- 1.52×
Break-even
- Price that breaks even
- $279,049
- Rent that breaks even
- $2,704/mo
Long run
- Year 30: property vs stocks
- $1.54M vs $320K
- Cash flow turns positive
- year 1
The deal
- Price
- $193,000
- Cash to close
- $54,040
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $814/mo
- Cash-on-cash
- 18.1%
- Cap rate
- 11.0%
- DSCR
- 1.85×
Break-even
- Price that breaks even
- $356,146
- Rent that breaks even
- $2,393/mo
Long run
- Year 30: property vs stocks
- $2.03M vs $411K
- Cash flow turns positive
- year 1
The deal
- Price
- $193,000
- Cash to close
- $54,040
- Price per unit
- $64,333
- GRM
- 4.7
Each month
- Cash flow
- $522/mo
- Cash-on-cash
- 11.6%
- Cap rate
- 9.2%
- DSCR
- 1.54×
Break-even
- Price that breaks even
- $297,653
- Rent that breaks even
- $2,688/mo
Long run
- Year 30: property vs stocks
- $1.58M vs $411K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $51,240
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $864/mo
- Cash-on-cash
- 20.2%
- Cap rate
- 11.7%
- DSCR
- 1.95×
Break-even
- Price that breaks even
- $356,146
- Rent that breaks even
- $2,328/mo
Long run
- Year 30: property vs stocks
- $2.07M vs $390K
- Cash flow turns positive
- year 1
The deal
- Price
- $183,000
- Cash to close
- $51,240
- Price per unit
- $61,000
- GRM
- 4.4
Each month
- Cash flow
- $572/mo
- Cash-on-cash
- 13.4%
- Cap rate
- 9.7%
- DSCR
- 1.63×
Break-even
- Price that breaks even
- $297,653
- Rent that breaks even
- $2,615/mo
Long run
- Year 30: property vs stocks
- $1.61M vs $390K
- Cash flow turns positive
- year 1
Monthly
Monthly breakdown
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$1,156 |
| PMI | −$109 |
| Cash flow | $513 |
| Principal paid down (equity, not cash) | $147 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$1,156 |
| PMI | −$109 |
| Cash flow | $221 |
| Principal paid down (equity, not cash) | $147 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$1,096 |
| PMI | −$103 |
| Cash flow | $578 |
| Principal paid down (equity, not cash) | $139 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$1,096 |
| PMI | −$103 |
| Cash flow | $287 |
| Principal paid down (equity, not cash) | $139 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$1,027 |
| Cash flow | $750 |
| Principal paid down (equity, not cash) | $131 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$1,027 |
| Cash flow | $458 |
| Principal paid down (equity, not cash) | $131 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$974 |
| Cash flow | $803 |
| Principal paid down (equity, not cash) | $124 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$974 |
| Cash flow | $511 |
| Principal paid down (equity, not cash) | $124 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$963 |
| Cash flow | $814 |
| Principal paid down (equity, not cash) | $123 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$963 |
| Cash flow | $522 |
| Principal paid down (equity, not cash) | $123 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Net operating income | $1,777 |
| Mortgage (principal + interest) | −$913 |
| Cash flow | $864 |
| Principal paid down (equity, not cash) | $116 |
| Rent | $3,450 |
| Vacancy (6%) | −$207 |
| Collected | $3,243 |
| Property tax Listing | −$269 |
| Insurance Estimate | −$296 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$276 |
| Capital reserve (9% of rent) | −$310 |
| Property management | −$292 |
| Net operating income | $1,485 |
| Mortgage (principal + interest) | −$913 |
| Cash flow | $572 |
| Principal paid down (equity, not cash) | $116 |
Cash flow each year
Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.
30 years
How those totals add up
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $1,339,740
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $173,700 of loan.
$550,600 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $190,991
$25,090 put into an index fund instead of the down payment and closing costs.
The building comes out $1,589,103 ahead after 30 years.
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $885,737
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $173,700 of loan.
$383,970 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $190,991
$25,090 put into an index fund instead of the down payment and closing costs.
The building comes out $1,135,100 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $1,409,353
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $164,700 of loan.
$572,425 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $181,096
$23,790 put into an index fund instead of the down payment and closing costs.
The building comes out $1,645,795 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $955,350
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $164,700 of loan.
$405,795 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $181,096
$23,790 put into an index fund instead of the down payment and closing costs.
The building comes out $1,191,791 ahead after 30 years.
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $1,518,879
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $154,400 of loan.
$602,036 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $337,908
$44,390 put into an index fund instead of the down payment and closing costs.
The building comes out $1,621,325 ahead after 30 years.
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $1,064,876
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $154,400 of loan.
$435,406 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $337,908
$44,390 put into an index fund instead of the down payment and closing costs.
The building comes out $1,167,322 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $1,579,211
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $146,400 of loan.
$621,197 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $320,400
$42,090 put into an index fund instead of the down payment and closing costs.
The building comes out $1,676,348 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $1,125,207
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $146,400 of loan.
$454,567 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $320,400
$42,090 put into an index fund instead of the down payment and closing costs.
The building comes out $1,222,345 ahead after 30 years.
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $1,591,654
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $144,750 of loan.
$625,148 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $411,366
$54,040 put into an index fund instead of the down payment and closing costs.
The building comes out $1,620,642 ahead after 30 years.
- Your equity when you sell
- $440,354
- Rental profits, invested at 7%
- $1,137,651
Sells for $468,462 (value up 3% a year), minus 6% selling cost ($28,108). Rent paid down $144,750 of loan.
$458,518 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $411,366
$54,040 put into an index fund instead of the down payment and closing costs.
The building comes out $1,166,639 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $1,648,214
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $137,250 of loan.
$643,112 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $390,052
$51,240 put into an index fund instead of the down payment and closing costs.
The building comes out $1,675,700 ahead after 30 years.
- Your equity when you sell
- $417,538
- Rental profits, invested at 7%
- $1,194,211
Sells for $444,189 (value up 3% a year), minus 6% selling cost ($26,651). Rent paid down $137,250 of loan.
$476,482 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $390,052
$51,240 put into an index fund instead of the down payment and closing costs.
The building comes out $1,221,697 ahead after 30 years.
Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.
30 years: this property vs. the same money in stocks
Year 30 (loan paid off): property $1.78M, stocks $191K. The property wins.
Year 30 (loan paid off): property $1.33M, stocks $191K. The property wins.
Year 30 (loan paid off): property $1.83M, stocks $181K. The property wins.
Year 30 (loan paid off): property $1.37M, stocks $181K. The property wins.
Year 30 (loan paid off): property $1.96M, stocks $338K. The property wins.
Year 30 (loan paid off): property $1.51M, stocks $338K. The property wins.
Year 30 (loan paid off): property $2.00M, stocks $320K. The property wins.
Year 30 (loan paid off): property $1.54M, stocks $320K. The property wins.
Year 30 (loan paid off): property $2.03M, stocks $411K. The property wins.
Year 30 (loan paid off): property $1.58M, stocks $411K. The property wins.
Year 30 (loan paid off): property $2.07M, stocks $390K. The property wins.
Year 30 (loan paid off): property $1.61M, stocks $390K. The property wins.
Comparable rentals
Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.
2 bed / 1 bath estimate $1,100/mo · range $1,025–$1,175
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1101 Bemidji Ave NE, Bemidji 56601 | $950 | 2 / 1 | 0.0 mi | 94% |
| 1021 Bemidji Ave N, Bemidji 56601 off market | $925 | 2 / 1 | 0.0 mi | 94% |
| 1121 Bemidji Ave NW, Bemidji 56601 off market | $950 | 2 / 1 | 0.0 mi | 94% |
| 207 25th St NW, Bemidji 56601 off market | $995 | 2 / 1 | 1.0 mi | 93% |
| 2521 Minnesota Ave NW, Bemidji 56601 off market | $995 | 2 / 1 | 1.0 mi | 92% |
| 2419 Park Ave NW, Bemidji 56601 off market | $950 | 2 / 1 | 1.0 mi | 92% |
| 403 Central Ave SE, Bemidji 56601 off market | $995 | 2 / 1 | 1.7 mi | 91% |
| 102 Rako St SW, Bemidji 56601 off market | $1,075 | 2 / 1 | 2.1 mi | 91% |
| 1005 Washington Ave S, Bemidji 56601 off market | $950 | 2 / 1 | 2.1 mi | 91% |
| 1108 Beltrami Ave NW, Bemidji 56601 | $1,200 | 2 / 1 | 0.0 mi | 88% |
1 bed / 1 bath estimate $1,175/mo · range $875–$1,475
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1114 Minnesota Ave NW, Bemidji 56601 | $1,025 | 1 / 1 | 0.1 mi | 94% |
| 2513 Minnesota Ave NW, Bemidji 56601 off market | $795 | 1 / 1 | 1.0 mi | 92% |
| 522 3rd St SE, Bemidji 56601 off market | $850 | 1 / 1 | 1.7 mi | 91% |
| 125 Roman Dr NW, Bemidji 56601 | $825 | 1 / 1 | 2.8 mi | 90% |
| 1241 Birchmont Beach Rd NE, Bemidji 56601 off market | $1,895 | 1 / 1.5 | 4.7 mi | 85% |
| 1101 Bemidji Ave NE, Bemidji 56601 | $950 | 2 / 1 | 0.0 mi | 85% |
| 1021 Bemidji Ave N, Bemidji 56601 off market | $925 | 2 / 1 | 0.0 mi | 84% |
| 1121 Bemidji Ave NW, Bemidji 56601 off market | $950 | 2 / 1 | 0.0 mi | 84% |
| 309 15th St NW, Bemidji 56601 | $750 | 0 / 1 | 0.3 mi | 84% |
| 405 Mississippi Ave NW, Bemidji 56601 off market | $895 | 1 / 1 | 0.6 mi | 83% |
On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.
Red flags and opportunities
Watch for
- highNo actual rents or lease terms given; income is unverified Listing says: all currently leased with a solid rental history in place · AI review
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 1101 BEMIDJI AVE N
- mediumBasement-level unit needs to be a legal, licensed unit with proper egress Based on: photo 9 · AI review
- mediumSingle new boiler likely means the owner pays heat for all three units, unless units are separately metered Listing says: a new boiler, soffits, fascia, and gutters · AI review
- low151 days on market for a supposedly strong rental; find out why it hasn't sold Based on: data: listing.days_on_market · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 151 days on market, 1 price cuts
- Cash flow and cap rate look healthy at the ask on estimated rents Based on: data: underwriting.cash_flow_monthly · AI review
- Recent updates may reduce near-term capital needs Listing says: updated electrical throughout · AI review
Questions for the agent
- Can I see the current rent roll, lease copies and lease end dates for all three units?
- Who pays heat, water, sewer and trash, and how many boilers, gas meters and electric meters are there?
- Is Unit 3 in the basement, and is it licensed with legal egress under the Bemidji rental license?
- What are the annual taxes and any special assessments?
- When was the electrical updated, was it permitted, and what is the panel type?
- Why has it been listed for 151 days, and have there been price changes or offers?
Bottom line
The numbers look good on paper, but the rents, taxes and basement unit are unverified, so get the rent roll before spending time on a showing. AI-assisted summary
What the records say
Where each number comes from
| Property tax / yr Listinglisting, tax year 2025. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit. | $3,226 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $3,547 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $255 |
| Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent | $0 |
| Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal | $60 |
| Repairs / capital reserve Rulerule. built 1910: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2025-08-11 (420 days, relisted 1×); down $36,900 (16.1%) from the first ask of $229,900; last sold for $190,000 on 2022-10-17.
| Date | Event | Price |
|---|---|---|
| Price changed | $193,000 | |
| Relisted | $199,000 | |
| Removed | — | |
| Listed | $209,000 | |
| Removed | — | |
| Price changed | $219,900 | |
| Listed | $229,900 | |
| Removed | — | |
| Sold public record | $190,000 | |
| Price changed | $205,000 | |
| Listed | $219,000 | |
| Removed | $98,000 | |
| Removed | $98,000 | |
| Removed | $98,000 | |
| Listed | $98,000 | |
| Removed | $225,000 | |
| Listed | $225,000 | |
| Sold | $90,000 | |
| Listed | $90,000 |
From the listing Listing
| Listed as | triplex |
| Property tax, 2025 | $3,226 |
| County | Beltrami |
| Parcel number | 800131300 |
As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.
Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Bemidji on rental licensing before you buy.