3002 6th Ave E · Hibbing, MN 55746

$199,900

3 bd · 2.0 ba · 1,350 sqft · SingleFamily public records · 12 Days on market

Built 1953 9,583 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 +7.4/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONE LEVEL home, well maintained, on a beautiful corner lot. The interior of the home features one leveling living with 3 bedrooms on one side of the home and an oversized 4th bedroom with ensuite bathroom on the other. The home also features two bathrooms, natural hardwood floors in bedrooms, windows that allow natural light in all rooms, natural gas furnace, larger eat-in kitchen, ceiling fans in bedrooms, new dryer and microwave. The exterior of the home features maintenance free steel siding, a large front and back yard with fire pit, off street parking along with a single stall garage. Schedule your personal tour today!

Key facts

• Oversized bedroom
• Fire pit
• Ensuite bathroom

Tags

• CORNER LOT
• OVERSIZED BEDROOM
• ENSUITE BATHROOM
• NATURAL HARDWOOD FLOORS
• MAINTENANCE FREE STEEL SIDING
• FIRE PIT

Property features AI

Finance

• Financial info: FHA mortgage type noted

Exterior

• Parking: Gravel parking; 1-car garage (24 x 16)
• Utilities: City water (connected); City sewer (connected); 100 Amp electric service; Natural gas; Electric service by Hibbing Public Utilities
• Home design: Residential single-story home; Main/entry level: one level
• Construction: Frame construction; Asphalt roof (age 8 years or less); Foundation dimensions approximately 53.8 x 25.8
• Exterior features: Corner lot; No fencing; No pool; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Microwave; Refrigerator; Freezer; Kitchen window
• Bedrooms: 4 bedrooms (all on the main level)
• Bathrooms: Main floor full bathroom; Main floor 3/4 bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Wall air conditioning unit(s)
• Interior features: Ceiling fans; Eat-in kitchen; Main floor primary bedroom; All living facilities on one level; Main floor bedroom; Main floor laundry; Crawl space basement
• Laundry & utility: Washer; Dryer; Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (28.7% below list).
• Recommended offer: $143k (28.7% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 6.9% in Hibbing — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 79/100 on livability (#103 in MN, #2,307 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Hibbing Public School District (town): math 43% / reading 54% proficiency, ranked #150 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary (math 50% / reading 56%, grade C, #361 of 857 statewide, top 42%, 622 students, 52% FRL); Hibbing High (math 33% / reading 52%, grade F, #215 of 471 statewide, top 46%, 993 students, 37% FRL).
• Market conditions: 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 31% of the median local income ($56k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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.
• Current owner paid $160k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,551 (28.7% 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. Built in 1953 — 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 A-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. 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?
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: 0.71% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $126,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2527 4th Ave Ave E	0.41mi	4/2.0 (+1)	1,369 (+1%)	4mo	$114,000	$83	70
2919 W 2nd Ave	0.41mi	3/1.5	1,334 (-1%)	8mo	$120,000	$90	70
3027 8th Avenue Ave E	0.12mi	3/2.0	1,533 (+14%)	4mo	$143,100	$93	68
2530 E 2nd Ave	0.45mi	3/1.2	1,285 (-5%)	3mo	$150,400	$117	65
2523 4th Avenue East Ave	0.42mi	3/3.0	1,395 (+3%)	8mo	$95,000	$68	64
3001 3rd Ave W	0.47mi	3/1.0	1,440 (+7%)	1mo	$165,000	$115	63
3406 Outer Dr	0.26mi	2/1.8 (-1)	1,512 (+12%)	2mo	$149,000	$99	60
207 E 37th St	0.56mi	3/1.5	1,440 (+7%)	1mo	$163,000	$113	60
3001 3rd Ave Ave E	0.22mi	4/1.0 (+1)	1,497 (+11%)	4mo	$115,000	$77	59
507 E 38th St	0.68mi	2/2.0 (-1)	1,296 (-4%)	2mo	$138,000	$106	55
3418 3rd Ave. Ave W	0.55mi	3/1.2	1,440 (+7%)	8mo	$135,000	$94	54
2319 W 3rd Ave	0.72mi	2/1.5 (-1)	1,449 (+7%)	8mo	$135,000	$93	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.13×
• Total profit: $-48,632
• Equity at exit: $29,806

10-year hold

• IRR: -22.0%
• Equity multiple: -0.13×
• Total profit: $-63,199
• Equity at exit: $17,284

Cash invested: $55,972 (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 55746

• Home prices YoY: -18.7%
• Active inventory: 99
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-255

Break-even live

Break-even rent $1,749

Max offer price $162,956

Occupancy floor —

Sensitivity live

Price	-10% $-117	-5% $-186	+0% $-255	+5% $-324	+10% $-393
Rent	-10% $-368	-5% $-312	+0% $-255	+5% $-199	+10% $-143
Rate	-1.0pp $-155	-0.5pp $-204	base $-255	+0.5pp $-307	+1.0pp $-360

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1606 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	15d	1	0.82mi
1605 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	45d	1	0.82mi
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	45d	1	0.86mi
1643 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	15d	1	0.87mi
100 Southview Dr Hibbing, MN	1.0–3.0	1.0	833	$1,072	$1.29	15d	1	1.18mi

Listing history 12 events

1. 2026-06-01
   listing id $199,900 Pending 12 DOM
2. 2026-04-22
   status Pending 631-char remark

   Show marketing remark (631 chars)

   ONE LEVEL home, well maintained, on a beautiful corner lot. The interior of the home features one leveling living with 3 bedrooms on one side of the home and an oversized 4th bedroom with ensuite bathroom on the other. The home also features two bathrooms, natural hardwood floors in bedrooms, windows that allow natural light in all rooms, natural gas furnace, larger eat-in kitchen, ceiling fans in bedrooms, new dryer and microwave. The exterior of the home features maintenance free steel siding, a large front and back yard with fire pit, off street parking along with a single stall garage. Schedule your personal tour today!

3. 2026-04-22
   status Pending

   Show marketing remark (631 chars)

   ONE LEVEL home, well maintained, on a beautiful corner lot. The interior of the home features one leveling living with 3 bedrooms on one side of the home and an oversized 4th bedroom with ensuite bathroom on the other. The home also features two bathrooms, natural hardwood floors in bedrooms, windows that allow natural light in all rooms, natural gas furnace, larger eat-in kitchen, ceiling fans in bedrooms, new dryer and microwave. The exterior of the home features maintenance free steel siding, a large front and back yard with fire pit, off street parking along with a single stall garage. Schedule your personal tour today!

4. 2026-04-09
   listed $199,900 Active 631-char remark

   Show marketing remark (631 chars)

   ONE LEVEL home, well maintained, on a beautiful corner lot. The interior of the home features one leveling living with 3 bedrooms on one side of the home and an oversized 4th bedroom with ensuite bathroom on the other. The home also features two bathrooms, natural hardwood floors in bedrooms, windows that allow natural light in all rooms, natural gas furnace, larger eat-in kitchen, ceiling fans in bedrooms, new dryer and microwave. The exterior of the home features maintenance free steel siding, a large front and back yard with fire pit, off street parking along with a single stall garage. Schedule your personal tour today!

5. 2026-04-09
   listed $199,900 Active

   Show marketing remark (631 chars)

   ONE LEVEL home, well maintained, on a beautiful corner lot. The interior of the home features one leveling living with 3 bedrooms on one side of the home and an oversized 4th bedroom with ensuite bathroom on the other. The home also features two bathrooms, natural hardwood floors in bedrooms, windows that allow natural light in all rooms, natural gas furnace, larger eat-in kitchen, ceiling fans in bedrooms, new dryer and microwave. The exterior of the home features maintenance free steel siding, a large front and back yard with fire pit, off street parking along with a single stall garage. Schedule your personal tour today!

6. 2024-07-16
   soldstatus $159,900
7. 2024-06-27
   soldstatus $159,900 Closed 348-char remark

   Show marketing remark (348 chars)

   Excellent one level home with a huge yard on a beautiful corner lot! 3 bedrooms / 1.75 bathrooms / Oversized 1.5 stall garage / Natural gas heat / Maintenance free steel siding / Hardwood floors / Tons of updates throughout including newer singles, kitchen & bathroom remodeling, and more - - see updates list. Main floor living at it's best!

8. 2024-05-18
   status Pending 348-char remark

   Show marketing remark (348 chars)

   Excellent one level home with a huge yard on a beautiful corner lot! 3 bedrooms / 1.75 bathrooms / Oversized 1.5 stall garage / Natural gas heat / Maintenance free steel siding / Hardwood floors / Tons of updates throughout including newer singles, kitchen & bathroom remodeling, and more - - see updates list. Main floor living at it's best!

9. 2024-05-15
   listed $159,900 Active 348-char remark

   Show marketing remark (348 chars)

   Excellent one level home with a huge yard on a beautiful corner lot! 3 bedrooms / 1.75 bathrooms / Oversized 1.5 stall garage / Natural gas heat / Maintenance free steel siding / Hardwood floors / Tons of updates throughout including newer singles, kitchen & bathroom remodeling, and more - - see updates list. Main floor living at it's best!

10. 2016-02-01
    soldstatus $75,000
11. 2015-12-18
    soldstatus $75,000
12. 2015-07-31
    listed $79,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,106
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$5,815
• Taxable loss: −$6,642
• Est. tax savings @ 24.0%: +$1,594
• After-tax cash flow: $-1,470/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: Hibbing Public School District
• NCES district ID: 2713980
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 54% ▼ -13.00%
• Median HH income: $41,666
• Composite: 40.7/100
• National rank: #3667
• State rank: #150 of 301 in MN

Livability — Hibbing

• Score: 79/100
• State rank: #103
• US rank: #2307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hibbing, MN
• County: Saint Louis County · 115,152 people
• City population: 16,730
• Metro: Duluth, MN-WI
• Population (ZIP): 16,730
• Household income: $55,823
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 623.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.85%
• Current HPI: 220.7198
• Rent YoY: —
• Metro: Duluth, MN-WI
• 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

+150.2% since first listed

11 events — show timeline

• 2026-04-22 Pending — RAOR
• 2026-04-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Listed $199,900 RAOR
• 2026-04-09 Listed $199,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-07-16 Sold (Public Records) $159,900 Public Records
• 2024-06-27 Sold (MLS) $159,900 RAOR
• 2024-05-18 Pending — RAOR
• 2024-05-15 Listed $159,900 RAOR
• 2016-02-01 Sold (Public Records) $75,000 Public Records
• 2015-12-18 Sold (MLS) $75,000 RAOR
• 2015-07-31 Listed $79,900 RAOR

Property tax history

-8.5%/yr

Latest (2025): $372 · -38.8% YoY. Source: county tax records.