ABSTRACT In this work, we explore the applicability of standard theoretical models of accretion to the observed properties of M51 ULX-7. The spin-up rate and observed X-ray luminosity are evidence of a neutron star with a surface magnetic field of 2–7 × 1013 G, rotating near equilibrium. Analysis of the X-ray light curve of the system (Swift/XRT data) reveals the presence of a ∼39 d superorbital period. We argue that the superorbital periodicity is due to disc precession, and that material is accreted on to the neutron star at a constant rate throughout it. Moreover, by attributing this modulation to the free precession of the neutron star we estimate a surface magnetic field strength of 3–4 × 1013 G. The agreement of these two independent estimates provide strong constraints on the surface polar magnetic field strength of the NS.