424 E 13th St · Duluth, MN 55811

$180,000

3 bd · 2.0 ba · 1,129 sqft · SingleFamily public records · 15 Days on market

Built 1905 6,970 sqft lot $159/sqft · 26% below area Est $242k · 26% 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.4/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great views of Lake Superior and conveniently located in the middle of Duluth. This solid one-owner, 3 bedroom bungalow has a lot of potential. Come see it today for yourself!

Key facts

• Large corner lot
• Updated full bath
• Eat in kitchen

Tags

• LARGE CORNER LOT
• GLIMPSES OF LAKE SUPERIOR
• EAT IN KITCHEN
• UPDATED FULL BATH
• BONUS SPACE
• NEWLY COMPLETED HALF BATH

Property features AI

Exterior

• Parking: Gravel parking; no garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Single-story; Entry level information not specified; Facing direction not specified
• Construction: Metal roof; Stone foundation; Built area above grade: 1,129
• Exterior features: Corner lot; Paved city street frontage; Has a view

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Bedrooms: Master bedroom on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling system
• Interior features: Master bedroom on the main level; Full unfinished basement
• Laundry & utility: Washer; Dryer; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Rents rising fast (+4.6%/yr); 206 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $130k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.82%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $241,647
• List price: $180,000
• Delta: -25.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 N 7th Ave Ave E	0.21mi	3/1.5	1,133 (+0%)	3mo	$260,000	$229	85
102 E 11th St	0.36mi	3/2.0	1,131 (+0%)	9mo	$281,000	$248	76
1230 N 7th Ave E	0.22mi	3/2.0	1,229 (+9%)	1mo	$276,000	$225	74
1107 N 7th Ave Ave E	0.23mi	4/2.0 (+1)	1,196 (+6%)	4mo	$185,000	$155	71
1210 N 8th Ave Ave E	0.31mi	4/1.0 (+1)	1,112 (-2%)	7mo	$207,200	$186	68
505 E 6th St	0.49mi	3/1.0	1,140 (+1%)	6mo	$219,000	$192	67
1109 N 8th Ave Ave E	0.30mi	3/1.0	1,224 (+8%)	9mo	$235,000	$192	61
407 E 6th St	0.49mi	2/1.0 (-1)	1,152 (+2%)	7mo	$205,000	$178	59
701 E 11th St	0.25mi	3/1.0	1,296 (+15%)	2mo	$139,900	$108	58
323 Plum St	0.49mi	3/1.0	1,068 (-5%)	7mo	$310,000	$290	58
710 E 6th St	0.56mi	2/1.0 (-1)	1,106 (-2%)	7mo	$115,000	$104	56
1208 E 9th St	0.73mi	3/1.0	1,186 (+5%)	8mo	$170,000	$143	46

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,173
• Equity at exit: $26,839

10-year hold

• IRR: 10.2%
• Equity multiple: 1.85×
• Total profit: $42,916
• Equity at exit: $15,563

Cash invested: $50,400 (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 55811

• Rents YoY: 4.6%
• Active inventory: 206
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$944
• Tax from tax record: −$237 /mo · $2,846/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $370

Break-even live

Break-even rent $1,590

Max offer price $180,000

Occupancy floor 77%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 E 8th St Duluth, MN	4.0	1.5	1388	$2,000	$1.44	43d	1	0.50mi
423 E 5th St Duluth, MN	3.0	1.0	850	$1,295	$1.52	13d	1	0.55mi
425 E 5th St Duluth, MN	3.0	1.0	1124	$1,995	$1.77	43d	1	0.55mi
825 N 10th Ave E Duluth, MN	3.0	1.0	1120	$1,800	$1.61	43d	1	0.56mi
502 N Oak Bend Dr Duluth, MN	1.0–2.0	1.0	857	$1,549	$1.81	13d	1	0.60mi
1120 E Ninth St Apt 1 Duluth, MN	2.0	1.0	700	$1,500	$2.14	13d	1	0.70mi
902 Partridge St Duluth, MN	2.0	1.0	790	$1,380	$1.75	43d	1	0.72mi
513 N 1st Ave W Unit 509 Duluth, MN	2.0	1.0	1300	$1,355	$1.04	43d	1	0.73mi
333 N 1st Ave W Apt 3130 Duluth, MN	2.0	2.0	995	$1,830	$1.84	13d	1	0.83mi
916 E 3rd St Duluth, MN	2.0	1.0	1325	$1,750	$1.32	13d	1	0.86mi
723 Kenwood Ave Duluth, MN	1.0–2.0	1.0	800	$1,635	$2.04	13d	1	0.88mi
333 E Superior St Duluth, MN	2.0	1.0–2.0	1154	$5,822	$5.05	13d	96	0.90mi
311 E Superior St #902 Duluth, MN	2.0	2.0	1500	$3,995	$2.66	43d	1	0.90mi
426 N 13th Ave E Duluth, MN	3.0	1.0	1248	$1,900	$1.52	13d	1	0.96mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	13d	1	1.14mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	21d	7	1.14mi
521 W 2nd St Duluth, MN	2.0	1.0	592	$1,600	$2.70	13d	2	1.17mi
1425 E 2nd St Fl , 1 Duluth, MN	2.0	1.0	1100	$1,450	$1.32	43d	1	1.19mi

Listing history 4 events

1. 2026-05-07
   listed $180,000 Active 1516-char remark
2. 2021-09-21
   soldstatus $130,000
3. 2021-08-10
   soldstatus $130,000 175-char remark

   Show marketing remark (175 chars)

   Great views of Lake Superior and conveniently located in the middle of Duluth. This solid one-owner, 3 bedroom bungalow has a lot of potential. Come see it today for yourself!

4. 2021-06-04
   listed $130,000 175-char remark

   Show marketing remark (175 chars)

   Great views of Lake Superior and conveniently located in the middle of Duluth. This solid one-owner, 3 bedroom bungalow has a lot of potential. Come see it today for yourself!

ⓘ 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: $2,846 · $237/mo
• Projected year-2 tax: $2,846 · $237/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 1/10 Low
• 🌡 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: $24,706
• − Mortgage interest: −$10,083
• − Property taxes: −$2,846
• − Insurance: −$900
• − Repairs & maintenance: −$1,976
• − Management: −$1,976
• − Depreciation: −$5,236
• Taxable income: $1,688
• Est. tax owed @ 24.0%: −$405
• After-tax cash flow: $4,039/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): 28,118
• Household income: $79,804
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1019.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -252.84%
• Current HPI: 198.2613
• Rent YoY: ▲ 4.60%
• 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

+38.5% since first listed

5 events — show timeline

• 2026-05-22 Pending — LSAR
• 2026-05-07 Listed $180,000 LSAR
• 2021-09-21 Sold (Public Records) $130,000 Public Records
• 2021-08-10 Sold (MLS) $130,000 LSAR
• 2021-06-04 Listed $130,000 LSAR

Property tax history

+10.7%/yr

Latest (2026): $2,846 · +11.5% YoY. Source: county tax records.