34 Second Ave · Soudan, MN 55782

$99,500

4 bd · 2.0 ba · 896 sqft · SingleFamily public records · 14 Days on market

Built 1945 7,056 sqft lot

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Why this score? — see what drove the B- 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 4 Bedroom, 1 Bath home located in a peaceful Northern Minnesota town just minutes from sought after Lake Vermilion! 2-stall detached garage for all your storage needs. Enjoy year-round recreation with public beaches, boat launches, state park, and extensive hiking/biking/ATV and snowmobile trails right outside your door. Conveniently located near shopping, dining, clinic, golf and casino entertainment. A great opportunity to enjoy small town living with endless outdoor adventure nearby. Whether you're looking for a full time residence, vacation getaway, jumping off point to Lake Vermilion or investment opportunity, this property places you in the heart of Minnesota's outdoor paradise.

Key facts

• Public beaches
• Snowmobile trails
• Boat launches

Tags

• DETACHED GARAGE
• PUBLIC BEACHES
• BOAT LAUNCHES
• STATE PARK
• HIKING BIKING ATV TRAILS
• SNOWMOBILE TRAILS

Property features AI

Finance

• Financial info: $95 other annual assessment; Annual tax information available

Exterior

• Parking: Gravel parking; Detached 2-car garage (22 x 24)
• Utilities: City water connected; City sewer connected; Power provided by Minnesota Power; Oil fuel
• Home design: Residential property; One-and-one-half stories; Above-grade finished area and living area totaling 896
• Construction: Frame construction; Block foundation; Built with vinyl exterior
• Exterior features: Vinyl exterior; Wire fencing; Lot approximately 0.162 acres (100 x 77)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Four bedrooms (two on main level, two on upper level)
• Bathrooms: One full bathroom on main floor
• Heating & cooling: Forced air heating; No cooling
• Interior features: Eat-in kitchen; Full basement with block foundation
• Laundry & utility: Washer and dryer; Electric water heater; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 62/100 on livability (#712 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D+, health & safety D.
• St. Louis County School District (rural): math 34% / reading 49% proficiency, ranked #212 of 301 in MN (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($688 loan paydown + $4k appreciation (4.0% local appreciation)).
• At projected returns (4.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,500

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.18%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.11×
• Total profit: $30,972
• Equity at exit: $50,481

10-year hold

• IRR: 19.1%
• Equity multiple: 4.05×
• Total profit: $84,888
• Equity at exit: $82,591

Cash invested: $27,860 (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 55782

• Home prices YoY: 2.0%
• Active inventory: 8
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $213

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 76%

Sensitivity live

Price	-10% $282	-5% $247	+0% $213	+5% $179	+10% $144
Rent	-10% $123	-5% $168	+0% $213	+5% $258	+10% $303
Rate	-1.0pp $263	-0.5pp $238	base $213	+0.5pp $187	+1.0pp $161

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $99,500 Active 14 DOM
2. 2026-06-18
   days on market $99,500 Active 13 DOM
3. 2026-06-17
   days on market $99,500 Active 12 DOM
4. 2026-06-16
   days on market $99,500 Active 11 DOM
5. 2026-06-15
   days on market $99,500 Active 10 DOM
6. 2026-06-14
   days on market $99,500 Active 8 DOM
7. 2026-06-13
   days on market $99,500 Active 7 DOM
8. 2026-06-10
   days on market $99,500 Active 5 DOM
9. 2026-06-09
   days on market $99,500 Active 4 DOM
10. 2026-06-08
    days on market $99,500 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $99,500 Active 2 DOM

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°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: $13,682
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$2,895
• Taxable income: $1,035
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $2,309/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: St. Louis County School District
• NCES district ID: 2700008
• Math proficiency: 34% ▼ -7.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $49,389
• Composite: 35.63/100
• National rank: #4886
• State rank: #212 of 301 in MN

Livability — Soudan

• Score: 62/100
• State rank: #712
• US rank: #17158

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Soudan, MN
• Population (ZIP): 439

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Native American 2%
• Common ancestry: Portuguese 9% Romanian 2% Iranian 1%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 4.01%
• Current HPI: 204.3622
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-05 Listed $99,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-05 Listed $99,500 LSAR
• 2026-06-02 Listed $99,500 RAOR

Property tax history

-0.6%/yr

Latest (2025): $168 · -5.6% YoY. Source: county tax records.