814 E Howard St · Hibbing, MN 55746

$187,900

4 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 51 Days on market

Built 1925 6,970 sqft lot $120/sqft · 13% above area Est $151k · 24% over

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Why this score? — see what drove the D+ 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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully restored Howard Street home is ready for you to move right in. the 4 bedrooms, 1.5 bath, and 3 stall garage give you plenty of room to spread out. New roof, windows, kitchen, bathrooms, electric service, exterior and interior paint, gutters, and tile floors are just a few of the updates. the refinished original hardwood floors and restored woodwork are stunning and bring back the period character. Located in the heart of Hibbing, this house is waiting for a family to call it Home!

Key facts

• Large garage
• Updated bathrooms
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• RICH WOODWORK
• INVITING LIVING SPACES
• HIGHLY DESIRABLE NEIGHBORHOOD
• LARGE GARAGE

Property features AI

Exterior

• Parking: Detached garage with garage door opener; 3 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories; Frame construction with wood siding
• Construction: Asphalt roof
• Exterior features: Partial fencing; Lot roughly 125 x 54 (0.16 acre)

Interior

• Kitchen: Electric range
• Heating & cooling: Steam heating
• Interior features: Wood-burning fireplace; Porch

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $182k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 6.9% in Hibbing — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Lincoln Elementary (math 50% / reading 56%, grade C, #361 of 857 statewide, top 42%, 622 students, 52% FRL); Hibbing High (math 33% / reading 52%, grade F, #215 of 471 statewide, top 46%, 993 students, 37% FRL).
• Market conditions: 99 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).
• This rent runs 41% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $140k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $182,263 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

• ARV (median comp): $151,003
• List price: $187,900
• Delta: 24.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Minnesota St	0.19mi	3/2.0 (-1)	1,649 (+6%)	1mo	$165,000	$100	76
2121 5th Ave Ave E	0.28mi	3/2.5 (-1)	1,500 (-4%)	10mo	$224,900	$150	65
512 E 16th St	0.36mi	4/1.5	1,736 (+11%)	1mo	$195,000	$112	61
2126 11th Ave E	0.22mi	3/1.8 (-1)	1,372 (-12%)	8mo	$150,000	$109	58
136 E 17th St	0.46mi	3/2.0 (-1)	1,460 (-6%)	8mo	$155,000	$106	56
2105 E 11th Ave	0.16mi	3/1.7 (-1)	1,355 (-13%)	11mo	$99,000	$73	56
2527 4th Ave Ave E	0.55mi	4/2.0	1,369 (-12%)	4mo	$114,000	$83	50
1517 E 14th Ave	0.45mi	5/2.0 (+1)	1,370 (-12%)	10mo	$130,000	$95	46
2211 4th Ave. West Ave	0.71mi	4/1.0	1,632 (+5%)	15mo	$49,500	$30	43
2523 4th Avenue East Ave	0.55mi	3/3.0 (-1)	1,395 (-11%)	8mo	$95,000	$68	40
2524 3rd Ave E	0.56mi	4/1.5	1,334 (-14%)	9mo	$113,000	$85	40
2011 3rd Ave W	0.63mi	3/1.5 (-1)	1,394 (-11%)	14mo	$106,000	$76	34

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-9,669
• Equity at exit: $28,017

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $18,182
• Equity at exit: $16,246

Cash invested: $52,612 (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: 99
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$985
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $327

Break-even live

Break-even rent $1,470

Max offer price $187,900

Occupancy floor 78%

Sensitivity live

Price	-10% $433	-5% $380	+0% $327	+5% $274	+10% $221
Rent	-10% $178	-5% $253	+0% $327	+5% $402	+10% $476
Rate	-1.0pp $422	-0.5pp $375	base $327	+0.5pp $278	+1.0pp $229

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: $46,975
• Closing costs: $5,637
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	45d	1	1.04mi

Listing history 28 events

1. 2026-06-21
   days on market $187,900 Active 51 DOM
2. 2026-06-19
   days on market $187,900 Active 49 DOM
3. 2026-06-18
   days on market $187,900 Active 48 DOM
4. 2026-06-17
   days on market $187,900 Active 47 DOM
5. 2026-06-16
   days on market $187,900 Active 46 DOM
6. 2026-06-15
   days on market $187,900 Active 45 DOM
7. 2026-06-14
   days on market $187,900 Active 43 DOM
8. 2026-06-13
   days on market $187,900 Active 42 DOM
9. 2026-06-10
   days on market $187,900 Active 40 DOM
10. 2026-06-09
    days on market $187,900 Active 39 DOM
11. 2026-06-08
    days on market $187,900 Active 38 DOM
12. 2026-06-07
    days on market $187,900 Active 37 DOM
13. 2026-06-05
    remarks 693-char remark
14. 2026-06-05
    days on market $187,900 Active 34 DOM
15. 2026-06-03
    days on market $187,900 Active 33 DOM
16. 2026-06-02
    days on market $187,900 Active 32 DOM
17. 2026-06-01
    days on market $187,900 Active 31 DOM
18. 2026-05-31
    days on market $187,900 Active 30 DOM
19. 2026-05-30
    days on market $187,900 Active 29 DOM
20. 2026-05-01
    listed $187,900 Active 875-char remark
21. 2022-06-22
    soldstatus $139,900
22. 2016-07-01
    soldstatus $850 502-char remark

    Show marketing remark (502 chars)

    This beautifully restored Howard Street home is ready for you to move right in. the 4 bedrooms, 1.5 bath, and 3 stall garage give you plenty of room to spread out. New roof, windows, kitchen, bathrooms, electric service, exterior and interior paint, gutters, and tile floors are just a few of the updates. the refinished original hardwood floors and restored woodwork are stunning and bring back the period character. Located in the heart of Hibbing, this house is waiting for a family to call it Home!

23. 2016-06-20
    listed $139,900 502-char remark

    Show marketing remark (502 chars)

    This beautifully restored Howard Street home is ready for you to move right in. the 4 bedrooms, 1.5 bath, and 3 stall garage give you plenty of room to spread out. New roof, windows, kitchen, bathrooms, electric service, exterior and interior paint, gutters, and tile floors are just a few of the updates. the refinished original hardwood floors and restored woodwork are stunning and bring back the period character. Located in the heart of Hibbing, this house is waiting for a family to call it Home!

24. 2015-09-18
    soldstatus $25,000

    Show marketing remark (158 chars)

    Large 4 BR 1.7 Bath Colonial in Heart of Hibbing. Hardwood Floors, Brick Fireplace, Newer 3 Stall Garage. Needs TLC but Priced at Less than 1/2 EMV Tax Value.

25. 2015-09-18
    soldstatus $25,000

    Show marketing remark (158 chars)

    Large 4 BR 1.7 Bath Colonial in Heart of Hibbing. Hardwood Floors, Brick Fireplace, Newer 3 Stall Garage. Needs TLC but Priced at Less than 1/2 EMV Tax Value.

26. 2015-07-28
    listed $39,900
27. 2015-07-26
    listed $39,900

    Show marketing remark (158 chars)

    Large 4 BR 1.7 Bath Colonial in Heart of Hibbing. Hardwood Floors, Brick Fireplace, Newer 3 Stall Garage. Needs TLC but Priced at Less than 1/2 EMV Tax Value.

28. 2009-09-15
    soldstatus $71,000

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,638 · $137/mo
• Expected delta: +$466/yr (+$39/mo · 39.8%)

ⓘ 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 ≥91°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: $22,609
• − Mortgage interest: −$10,525
• − Property taxes: −$1,172
• − Insurance: −$940
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$5,466
• Taxable income: $889
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $3,712/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

+164.6% since first listed

9 events — show timeline

• 2026-05-01 Listed $187,900 RAOR
• 2022-06-22 Sold (Public Records) $139,900 Public Records
• 2016-07-01 Sold (MLS) $850 LSAR
• 2016-06-20 Listed $139,900 LSAR
• 2015-09-18 Sold (MLS) $25,000 RAOR
• 2015-09-18 Sold (MLS) $25,000 LSAR
• 2015-07-28 Listed $39,900 RAOR
• 2015-07-26 Listed $39,900 LSAR
• 2009-09-15 Sold (Public Records) $71,000 Public Records

Property tax history

-0.9%/yr

Latest (2026): $1,172 · +11.6% YoY. Source: county tax records.