806 Grant Ave · Eveleth, MN 55734

$66,785

2 bd · 1.0 ba · 772 sqft · SingleFamily public records · 176 Days on market

Built 1946 5,967 sqft lot Est $113k · 41% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

Key facts

• Eat-in dining area
• Front deck
• Large living room

Tags

• DETACHED SINGLE STALL GARAGE
• EAT-IN DINING AREA
• LARGE LIVING ROOM
• PRIVACY FENCE
• FRONT DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($938 rent vs $67k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 7.0% in Eveleth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#506 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, health & safety D.
• Market conditions: 42 active listings in the ZIP; 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 $462 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $67k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,770 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.40% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.62%
• DSCR: 1.92
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $113,484
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Douglas Ave	0.12mi	2/2.0	780 (+1%)	5mo	$115,000	$147	84
1117 Lincoln Ave	0.27mi	2/1.0	836 (+8%)	1mo	$145,000	$173	73
703 N Court Ct	0.34mi	2/0.8	740 (-4%)	13mo	$95,900	$130	66
202 Fayal Rd	0.50mi	2/1.0	720 (-7%)	20mo	$140,000	$194	49
108 S Elba Ave	0.68mi	2/1.2	804 (+4%)	18mo	$95,000	$118	45
510 Jackson St	0.25mi	3/1.0 (+1)	886 (+15%)	22mo	$84,500	$95	41

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: 12.9%
• Equity multiple: 1.52×
• Total profit: $9,632
• Equity at exit: $9,958

10-year hold

• IRR: 21.8%
• Equity multiple: 2.86×
• Total profit: $34,692
• Equity at exit: $5,774

Cash invested: $18,700 (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 55734

• Home prices YoY: -29.1%
• Active inventory: 42
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $938 medium
• Mortgage (P&I): −$350
• Tax from tax record: −$42 /mo · $500/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $321

Break-even live

Break-even rent $531

Max offer price $66,785

Occupancy floor 61%

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: $16,696
• Closing costs: $2,004
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-22
   status Pending 414-char remark

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

2. 2026-04-22
   status Pending

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

3. 2026-04-17
   price $66,785

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

4. 2026-04-17
   price $66,785 414-char remark

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

5. 2026-02-15
   price $70,300
6. 2026-02-14
   price $70,300 414-char remark

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

7. 2026-01-07
   price $74,000

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

8. 2026-01-07
   price $74,000 414-char remark

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

9. 2025-12-03
   price $77,900

   Show marketing remark (414 chars)

   PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

10. 2025-12-03
    price $77,900 414-char remark

    Show marketing remark (414 chars)

    PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

11. 2025-10-28
    listed $81,900 Active 414-char remark

    Show marketing remark (414 chars)

    PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

12. 2025-10-28
    listed $81,900 Active

    Show marketing remark (414 chars)

    PRICE IMPROVEMENT: Charming 2 bedroom 1 bath one level home with detached single stall garage is ready for its new owner. The home has a nice size kitchen with eat-in dining area and a large living room. There is a deck and a privacy fence in the back yard where you will find a detached single stall garage and parking area. There is a front deck with steps leading down to Grant. Walking distance to nearby park.

13. 2007-06-29
    soldstatus $44,000

ⓘ 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: $500 · $42/mo
• Projected year-2 tax: $624 · $52/mo
• Expected delta: +$124/yr (+$10/mo · 24.8%)

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

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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,256
• − Mortgage interest: −$3,741
• − Property taxes: −$500
• − Insurance: −$334
• − Repairs & maintenance: −$901
• − Management: −$901
• − Depreciation: −$1,943
• Taxable income: $2,938
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $3,151/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 — Eveleth

• Score: 66/100
• State rank: #506
• US rank: #12213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eveleth, MN
• Population (ZIP): 6,332

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 1% Native American 1%
• Common ancestry: Portuguese 13% Romanian 3% Lithuanian 3%
• Foreign-born: 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2%

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: ▼ -85.98%
• Current HPI: 209.7614
• 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

+51.8% since first listed

13 events — show timeline

• 2026-04-22 Pending — RAOR
• 2026-04-22 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $66,785 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-17 Price Changed $66,785 RAOR
• 2026-02-15 Price Changed $70,300 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Price Changed $70,300 RAOR
• 2026-01-07 Price Changed $74,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $74,000 RAOR
• 2025-12-03 Price Changed $77,900 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-03 Price Changed $77,900 RAOR
• 2025-10-28 Listed $81,900 RAOR
• 2025-10-28 Listed $81,900 NORTHSTARMLS as Distributed by MLS Grid
• 2007-06-29 Sold (Public Records) $44,000 Public Records

Property tax history

+12.4%/yr

Latest (2025): $500 · -18.0% YoY. Source: county tax records.