6519 Polk St · Duluth, MN 55807

$79,500

1 bd · 1.0 ba · 824 sqft · SingleFamily public records · 35 Days on market

Built 1891 4,660 sqft lot $96/sqft · 48% below area Est $154k · 48% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

Key facts

• Off street parking
• Corner lot
• 4,660 sq ft lot

Tags

• CORNER LOT
• OFF STREET PARKING
• MINUTES FROM DOWNTOWN
• MINUTES FROM MALL AREA

Property features AI

Finance

• Other: Lot approximately 0.107 acres (63 x 75)

Exterior

• Parking: On-street parking available; Attached or detached garage with space for 1 car
• Utilities: City water (connected); City sewer (connected); Natural gas service; Electric service by Minnesota Power
• Home design: Residential property; Single-story (one level); Main entry on main level
• Construction: Slab foundation
• Exterior features: Metal exterior

Interior

• Kitchen: Main-level kitchen
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; No central air
• Interior features: Main-floor living areas; No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 4.9% in Duluth — 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 82/100 on livability (#36 in MN, #1,060 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Duluth Public School District (urban): math 44% / reading 55% proficiency, ranked #132 of 301 in MN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $550 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,115 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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 B-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. 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.
6. 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.
7. 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: 1.69% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.62%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

• ARV (median comp): $153,879
• List price: $79,500
• Delta: -48.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6514 Polk St	0.03mi	2/1.5 (+1)	800 (-3%)	4mo	$145,000	$181	83
6512 Raleigh St	0.12mi	2/1.0 (+1)	840 (+2%)	11mo	$185,000	$220	77
417 S 69th Ave Ave W	0.40mi	2/1.0 (+1)	816 (-1%)	18mo	$110,540	$135	60
113 S 65th Ave Ave W	0.06mi	2/1.0 (+1)	704 (-15%)	22mo	$155,000	$220	50
522 S 71st Ave Ave W	0.54mi	2/1.5 (+1)	776 (-6%)	11mo	$172,500	$222	49
22 N 59th Ave Ave W	0.47mi	2/1.0 (+1)	945 (+15%)	22mo	$170,000	$180	30

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: 21.7%
• Equity multiple: 1.89×
• Total profit: $19,774
• Equity at exit: $11,854

10-year hold

• IRR: 29.8%
• Equity multiple: 3.67×
• Total profit: $59,324
• Equity at exit: $6,874

Cash invested: $22,260 (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 55807

• Active inventory: 50
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,343 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $512

Break-even live

Break-even rent $694

Max offer price $79,500

Occupancy floor 57%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 N 53rd Ave W Duluth, MN	2.0	1.0	931	$1,250	$1.34	43d	1	0.96mi

Listing history 26 events

1. 2026-06-13
   statusdays on market $79,500 Pending 35 DOM
2. 2026-06-10
   days on market $79,500 Contingent - Inspection 33 DOM

   Show marketing remark (269 chars)

   Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

3. 2026-06-09
   days on market $79,500 Contingent - Inspection 32 DOM
4. 2026-06-08
   days on market $79,500 Contingent - Inspection 31 DOM
5. 2026-06-07
   days on market $79,500 Contingent - Inspection 30 DOM
6. 2026-06-05
   days on market $79,500 Contingent - Inspection 27 DOM
7. 2026-06-03
   days on market $79,500 Contingent - Inspection 26 DOM
8. 2026-06-02
   days on market $79,500 Contingent - Inspection 25 DOM
9. 2026-06-01
   days on market $79,500 Contingent - Inspection 24 DOM
10. 2026-05-31
    days on market $79,500 Contingent - Inspection 23 DOM
11. 2026-05-30
    days on market $79,500 Contingent - Inspection 22 DOM
12. 2026-05-08
    listed $79,500 Active 269-char remark

    Show marketing remark (269 chars)

    Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

13. 2026-05-08
    listed $79,500 Active 269-char remark

    Show marketing remark (269 chars)

    Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

14. 2024-10-10
    soldstatus $58,000
15. 2024-10-01
    soldstatus $58,000

    Show marketing remark (269 chars)

    Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

16. 2024-07-13
    listed $65,000

    Show marketing remark (269 chars)

    Why rent when you can own! This affordable property features one bedroom, one full bath with laundry all on one level. Located on a large corner lot with off street parking, this home is just minutes from downtown and the mall area. Call to schedule your showing today!

17. 2014-08-12
    soldstatus $42,000
18. 2011-01-06
    soldstatus $34,500
19. 2010-11-11
    listed $34,900
20. 2010-08-03
    listed $34,900
21. 2010-06-28
    listed $34,900
22. 2010-03-03
    listed $34,900
23. 2009-11-10
    listed $34,900
24. 2008-11-17
    listed $57,900
25. 2004-12-27
    soldstatus $62,321
26. 2001-11-15
    soldstatus $22,000

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,180 · $98/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,113
• − Mortgage interest: −$4,453
• − Property taxes: −$1,180
• − Insurance: −$398
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$2,313
• Taxable income: $5,192
• Est. tax owed @ 24.0%: −$1,246
• After-tax cash flow: $4,903/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: Duluth Public School District
• NCES district ID: 2711040
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $45,692
• Composite: 41.92/100
• National rank: #3360
• State rank: #132 of 301 in MN

Livability — Duluth

• Score: 82/100
• State rank: #36
• US rank: #1060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duluth, MN
• County: Saint Louis County · 115,152 people
• City population: 71,097
• Metro: Duluth, MN-WI
• Population (ZIP): 9,763
• Household income: $62,067
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 407.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 1% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 4%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -127.84%
• Current HPI: 212.6883
• 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

+218.2% since first listed

20 events — show timeline

• 2026-06-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-12 Sold (MLS) $70,000 LSAR
• 2026-06-12 Sold (MLS) $70,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-10 Pending — LSAR
• 2026-05-19 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-08 Listed $79,500 LSAR
• 2026-05-08 Listed $79,500 NORTHSTARMLS as Distributed by MLS Grid
• 2024-10-10 Sold (Public Records) $58,000 Public Records
• 2024-10-01 Sold (MLS) $58,000 LSAR
• 2024-07-13 Listed $65,000 LSAR
• 2014-08-12 Sold (Public Records) $42,000 Public Records
• 2011-01-06 Sold (MLS) $34,500 NORTHSTARMLS as Distributed by MLS Grid
• 2010-11-11 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-08-03 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-28 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-03 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-11-10 Listed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-11-17 Listed $57,900 NORTHSTARMLS as Distributed by MLS Grid
• 2004-12-27 Sold (Public Records) $62,321 Public Records
• 2001-11-15 Sold (Public Records) $22,000 Public Records

Property tax history

+7.6%/yr

Latest (2026): $1,180 · +64.3% YoY. Source: county tax records.