205 Fayal Rd · Eveleth, MN 55734

$109,900

4 bd · 2.0 ba · 1,650 sqft · Other public records · 113 Days on market

Built 1900 7,680 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• 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

Great starter home, with the opportunity to rent the upper portion of the home. Centrally located in the Quad Cities. Oversized yard with a chain-link fence for your childrens safety, or your four-legged family members. Beautiful Fall colors just outside your front door. Sit on the front deck for morning coffee. SOLD "AS IS". Call for your showing today.

Key facts

• Huge yard
• 7,680 sq ft lot
• Built 1900

Tags

• HUGE YARD
• THIRD UNIT FOR EXTRA INCOME

Property features AI

Exterior

• Parking: On-street parking; Off-street parking
• Home design: Residential income property; Duplex
• Construction: Frame construction; Metal siding
• Exterior features: Shingle roof; Zoned residential

Interior

• Interior features: Unbranded virtual tour available

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $110k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.43% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.8

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $11,459
• Equity at exit: $16,386

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $47,769
• Equity at exit: $9,502

Cash invested: $30,772 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $459

Break-even live

Break-even rent $990

Max offer price $109,900

Occupancy floor 66%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $109,900 Active 113 DOM
2. 2026-06-18
   days on market $109,900 Active 112 DOM
3. 2026-06-17
   days on market $109,900 Active 111 DOM
4. 2026-06-16
   days on market $109,900 Active 110 DOM
5. 2026-06-15
   days on market $109,900 Active 109 DOM
6. 2026-06-14
   days on market $109,900 Active 107 DOM
7. 2026-06-13
   days on market $109,900 Active 106 DOM
8. 2026-06-10
   days on market $109,900 Active 104 DOM
9. 2026-06-09
   days on market $109,900 Active 103 DOM
10. 2026-06-08
    days on market $109,900 Active 102 DOM
11. 2026-06-07
    days on market $109,900 Active 101 DOM
12. 2026-06-05
    days on market $109,900 Active 98 DOM
13. 2026-06-03
    days on market $109,900 Active 97 DOM
14. 2026-06-02
    days on market $109,900 Active 96 DOM
15. 2026-06-01
    days on market $109,900 Active 95 DOM
16. 2026-05-31
    days on market $109,900 Active 94 DOM
17. 2026-05-30
    days on market $109,900 Active 93 DOM
18. 2026-03-26
    price $109,900
19. 2026-02-26
    listed $115,900 Active
20. 2022-12-07
    soldstatus $52,000
21. 2022-11-21
    soldstatus $52,000 366-char remark

    Show marketing remark (366 chars)

    Great starter home, with the opportunity to rent the upper portion of the home. Centrally located in the Quad Cities. Oversized yard with a chain-link fence for your childrens safety, or your four-legged family members. Beautiful Fall colors just outside your front door. Sit on the front deck for morning coffee. SOLD "AS IS". Call for your showing today.

22. 2022-10-06
    listed $68,900 366-char remark

    Show marketing remark (366 chars)

    Great starter home, with the opportunity to rent the upper portion of the home. Centrally located in the Quad Cities. Oversized yard with a chain-link fence for your childrens safety, or your four-legged family members. Beautiful Fall colors just outside your front door. Sit on the front deck for morning coffee. SOLD "AS IS". Call for your showing today.

ⓘ 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: $1,924 · $160/mo
• Projected year-2 tax: $1,924 · $160/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 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: $18,856
• − Mortgage interest: −$6,156
• − Property taxes: −$1,924
• − Insurance: −$550
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$3,197
• Taxable income: $4,013
• Est. tax owed @ 24.0%: −$963
• After-tax cash flow: $4,544/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

+59.5% since first listed

5 events — show timeline

• 2026-03-26 Price Changed $109,900 RAOR
• 2026-02-26 Listed $115,900 RAOR
• 2022-12-07 Sold (Public Records) $52,000 Public Records
• 2022-11-21 Sold (MLS) $52,000 RAOR
• 2022-10-06 Listed $68,900 RAOR

Property tax history

+23.9%/yr

Latest (2025): $1,924 · +12.1% YoY. Source: county tax records.