2626 6th Ave E · Hibbing, MN 55746

$49,900

3 bd · 2.0 ba · 1,932 sqft · Other public records · 34 Days on market

Built 1925 9,365 sqft lot $26/sqft · 67% below area ↓ 58% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

Key facts

• 9,365 sq ft lot
• 7 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Multiple garages with a total of 7 garage spaces; Garage dimensions: 40 x 24 and 46 x 34
• Utilities: City water (connected); City sewer (connected); 200+ amp electrical service; Natural gas
• Home design: Residential property; Two levels; Entry on main level
• Construction: Asphalt roof; Block foundation; Foundation area approximately 996
• Exterior features: Stucco exterior; Pole building on the property; City street frontage (125 x 75 lot)

Interior

• Kitchen: Two kitchens (main level and upper level)
• Bedrooms: Three bedrooms (main and upper levels; second and third bedrooms on the upper level)
• Flooring: Hardwood floors
• Bathrooms: Two 3/4 bathrooms (one on main floor, one on upper level)
• Heating & cooling: Hot water heating; No central air
• Interior features: Full, unfinished basement; Hardwood floors

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $965 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.5% vs local median 6.4% in Hibbing — 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 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.
• Market conditions: 96 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 36% 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 $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1925 — 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. 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: 3.32% ✓
• Cap rate: 29.49%
• Cash-on-cash: 82.86%
• DSCR: 4.69
• GRM: 2.5

CMA / ARV

• ARV (median comp): $157,700
• List price: $49,900
• Delta: -68.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 83.2%
• Equity multiple: 4.82×
• Total profit: $53,387
• Equity at exit: $7,440

10-year hold

• IRR: 86.5%
• Equity multiple: 10.00×
• Total profit: $125,714
• Equity at exit: $4,314

Cash invested: $13,972 (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: 96
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $965

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 37%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-17
   status $49,900 Pending 34 DOM
2. 2026-06-16
   days on market $49,900 Active 34 DOM

   Show marketing remark (392 chars)

   Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

3. 2026-06-15
   days on market $49,900 Active 33 DOM
4. 2026-06-14
   days on market $49,900 Active 31 DOM
5. 2026-06-13
   days on market $49,900 Active 30 DOM
6. 2026-06-10
   days on market $49,900 Active 28 DOM
7. 2026-06-09
   days on market $49,900 Active 27 DOM
8. 2026-06-08
   days on market $49,900 Active 26 DOM
9. 2026-06-07
   days on market $49,900 Active 25 DOM
10. 2026-06-05
    days on market $49,900 Active 22 DOM
11. 2026-06-03
    days on market $49,900 Active 21 DOM
12. 2026-06-02
    days on market $49,900 Active 20 DOM
13. 2026-06-01
    days on market $49,900 Active 19 DOM
14. 2026-05-31
    days on market $49,900 Active 18 DOM
15. 2026-05-30
    days on market $49,900 Active 17 DOM
16. 2026-05-13
    status Pending 392-char remark

    Show marketing remark (392 chars)

    Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

17. 2026-05-13
    status Pending 392-char remark

    Show marketing remark (392 chars)

    Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

18. 2026-05-06
    listed $49,900 Active 392-char remark

    Show marketing remark (392 chars)

    Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

19. 2026-05-06
    listed $49,900 Active 392-char remark

    Show marketing remark (392 chars)

    Two story 3 bedroom 2 bath stucco sided home on three City lots with detached 2+ stall 46x34 garage with attached workshop/office area Plus Morton style 40x24 pole building. Was used as a single family home but could be renovated back to a Duplex as there are kitchens, living rooms, bedrooms and bath on both main and upper levels. This home needs work but has potential for the right buyer.

20. 2019-01-22
    soldstatus $87,000
21. 2019-01-18
    soldstatus $87,000

    Show marketing remark (500 chars)

    Nicely finished and beautifully maintained home on 3 city lots with tons of garage space! 3 BR / 3 BA / 2+ stall finished & insulated garage with workshop/office (46x34) / Additional 40x24 Morton building / New roof, hardwood flooring, and many windows / Finished basement - old carpet already removed and ready for new! Original family owner -passed through 2 generations! Currently being used as a single family home, but easily converted to a duplex with upper level kitchen and living area!

22. 2018-10-08
    listed $89,900

    Show marketing remark (500 chars)

    Nicely finished and beautifully maintained home on 3 city lots with tons of garage space! 3 BR / 3 BA / 2+ stall finished & insulated garage with workshop/office (46x34) / Additional 40x24 Morton building / New roof, hardwood flooring, and many windows / Finished basement - old carpet already removed and ready for new! Original family owner -passed through 2 generations! Currently being used as a single family home, but easily converted to a duplex with upper level kitchen and living area!

23. 2018-10-06
    historical
24. 2018-09-28
    price $94,900
25. 2018-09-12
    price $97,500
26. 2018-07-14
    price $99,000
27. 2018-06-04
    price $114,000
28. 2018-04-17
    listed $119,000 Active

ⓘ 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: $19,893
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$1,452
• Taxable income: $11,466
• Est. tax owed @ 24.0%: −$2,752
• After-tax cash flow: $8,826/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

-58.1% since first listed

17 events — show timeline

• 2026-06-16 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-16 Pending — RAOR
• 2026-05-19 Relisted — RAOR
• 2026-05-19 Relisted — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Pending — RAOR
• 2026-05-13 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Listed $49,900 RAOR
• 2026-05-06 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2019-01-22 Sold (Public Records) $87,000 Public Records
• 2019-01-18 Sold (MLS) $87,000 RAOR
• 2018-10-08 Listed $89,900 RAOR
• 2018-10-06 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-28 Price Changed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2018-09-12 Price Changed $97,500 NORTHSTARMLS as Distributed by MLS Grid
• 2018-07-14 Price Changed $99,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-06-04 Price Changed $114,000 NORTHSTARMLS as Distributed by MLS Grid
• 2018-04-17 Listed $119,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2026): $2,584 · +13.4% YoY. Source: county tax records.