428 15th St N · Virginia, MN 55792

$92,500

1 bd · 1.0 ba · 508 sqft · SingleFamily public records · 13 Days on market

Built 1910 2,614 sqft lot

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Why this score? — see what drove the C- 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy does it! This 1 bedroom, 1 full bath home with a 2 stall garage is updated and ready to rock and roll for you! Very well maintained and the garage has heat and electricity making a great spot for entertaining or putzing around and keeping the house all for yourself. Within a quick distance to shopping areas, grocery stores, and downtown entertainment.

Key facts

• Heated garage
• 2,614 sq ft lot
• 2 garage spots

Tags

• HEATED GARAGE
• ELECTRICITY IN GARAGE
• QUICK DISTANCE TO SHOPPING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction with vinyl siding; Shingle roof; Built on a full block basement
• Exterior features: Deck; No fencing

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Dishwasher; Microwave; Refrigerator; Electric range; Gas water heater; Full block basement
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (5.9% below list).
• Recommended offer: $87k (5.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#664 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D, health & safety D.
• Market conditions: 65 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $640 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $53k; list at $92k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,043 (5.9% below list)

Questions for the listing agent

1. Built in 1910 — 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: 0.94% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 8.9

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-6,451
• Equity at exit: $13,792

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $5,266
• Equity at exit: $7,998

Cash invested: $25,900 (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 55792

• Home prices YoY: -26.5%
• Active inventory: 65
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $870 medium
• Mortgage (P&I): −$485
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $135

Break-even live

Break-even rent $700

Max offer price $92,500

Occupancy floor 80%

Sensitivity live

Price	-10% $187	-5% $161	+0% $135	+5% $109	+10% $82
Rent	-10% $66	-5% $100	+0% $135	+5% $169	+10% $203
Rate	-1.0pp $181	-0.5pp $158	base $135	+0.5pp $111	+1.0pp $86

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 12th St N Unit 12 Virginia, MN	1.0	1.0	495	$880	$1.78	44d	1	0.25mi
701 12th St N Unit 8 Virginia, MN	2.0	1.0	525	$995	$1.90	14d	1	0.25mi
406 S 4th Ave W Unit 7 Virginia, MN	1.0	1.0	368	$940	$2.55	22d	1	1.10mi
408 S 7th Ave W Unit 2 Virginia, MN	1.0	1.0	573	$940	$1.64	44d	1	1.11mi

Listing history 11 events

1. 2026-06-21
   days on market $92,500 Active 13 DOM
2. 2026-06-19
   days on market $92,500 Active 11 DOM
3. 2026-06-18
   days on market $92,500 Active 10 DOM
4. 2026-06-17
   days on market $92,500 Active 9 DOM
5. 2026-06-16
   days on market $92,500 Active 8 DOM
6. 2026-06-15
   days on market $92,500 Active 7 DOM
7. 2026-06-14
   days on market $92,500 Active 5 DOM
8. 2026-06-13
   days on market $92,500 Active 4 DOM
9. 2026-06-10
   days on market $92,500 Active 2 DOM
10. 2026-06-09
    remarks 358-char remark
11. 2026-06-09
    listed $92,500 Active 1 DOM

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

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $352 · $29/mo
• Projected year-2 tax: $694 · $58/mo
• Expected delta: +$342/yr (+$28/mo · 97.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,445
• − Mortgage interest: −$5,181
• − Property taxes: −$352
• − Insurance: −$462
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$2,691
• Taxable income: $87
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $1,595/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)

No district data.

Livability — Virginia

• Score: 63/100
• State rank: #664
• US rank: #15991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia, MN
• County: Saint Louis County · 115,152 people
• City population: 9,663
• Metro: Duluth, MN-WI
• Population (ZIP): 9,663
• Household income: $53,750
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 286.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Native American 3% Asian 1%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -72.05%
• Current HPI: 199.7165
• 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

+781.0% since first listed

7 events — show timeline

• 2026-06-08 Listed $92,500 LSAR
• 2026-06-08 Listed $92,500 RAOR
• 2021-07-12 Sold (MLS) $53,000 RAOR
• 2020-07-13 Listed $59,900 RAOR
• 2003-11-13 Sold (Public Records) $14,500 Public Records
• 2002-09-16 Sold (Public Records) $19,000 Public Records
• 2002-05-03 Sold (Public Records) $10,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $352 · -32.3% YoY. Source: county tax records.