416 N 59th Ave Ave W · Duluth, MN 55808

$175,000

4 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 5 Days on market

Built 1892 3,049 sqft lot $122/sqft · 32% above area Est $210k · 17% 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 +25.6/30.0
• ARV discount +14.9/15.0
• DSCR +8.5/10.0
• 1% rule +6.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

No open house cancelled . Showings are encouraged! Lower unit only during open house due to tenant rights. Upper can be shown by appointment 24 hour notice. Clean, well-maintained, and beautifully finished inside and out, this home offers flexibility for an owner-occupant or investor. Features include a brand-new roof with transferable 20 year warranty with Empire Roofing, all appliances included, a beautifully fenced yard, landscaping, outdoor seating areas, a 16x12 shed, and asphalt parking pad. New furnace in 2021 with central air in the main floor only, tenant uses a window or portable air unit, no basement. Comes with Murphy bed in the 1st level living room & shelving stays. Hang

Key facts

• 3,049 sq ft lot
• Built 1892
• Listed 5 days

Property features AI

Exterior

• Parking: Asphalt parking; no garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Two stories
• Exterior features: Asphalt and shingle roof; Shed on the property; Paved road access maintained by the public; Lot approximately 25 x 125 (0.07 acres)

Interior

• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Natural gas and electric heating
• Interior features: Master bedroom on the main level; No basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 9.1% 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: 35 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1892 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.16%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (median comp): $209,612
• List price: $175,000
• Delta: -16.51%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 N 64th Ave Ave W	0.42mi	3/2.0 (-1)	1,600 (+11%)	12mo	$200,000	$125	47
221 S 56th Ave Ave W	0.65mi	3/2.0 (-1)	1,435 (-0%)	22mo	$211,000	$147	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,955
• Equity at exit: $26,093

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $32,260
• Equity at exit: $15,131

Cash invested: $49,000 (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 55808

• Home prices YoY: -29.8%
• Active inventory: 35
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $1,968 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$149 /mo · $1,792/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $415

Break-even live

Break-even rent $1,443

Max offer price $175,000

Occupancy floor 74%

Sensitivity live

Price	-10% $514	-5% $464	+0% $415	+5% $365	+10% $316
Rent	-10% $259	-5% $337	+0% $415	+5% $492	+10% $570
Rate	-1.0pp $503	-0.5pp $459	base $415	+0.5pp $369	+1.0pp $323

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,968
Total (2 units)			$1,968

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5725 W 8th St Unit 2 Duluth, MN	3.0	1.0	1300	$1,550	$1.19	21d	1	0.38mi

Listing history 3 events

1. 2026-05-11
   status Pending 1165-char remark
2. 2026-05-05
   listed $175,000 Active 1165-char remark
3. 2014-02-18
   soldstatus $52,000

ⓘ 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: $1,792 · $149/mo
• Projected year-2 tax: $1,876 · $156/mo
• Expected delta: +$84/yr (+$7/mo · 4.7%)

ⓘ 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 ≥90°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: $23,616
• − Mortgage interest: −$9,803
• − Property taxes: −$1,792
• − Insurance: −$875
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$5,091
• Taxable income: $2,277
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $4,431/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
• City population: 71,097
• Population (ZIP): 5,325

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Native American 3% Hispanic / Latino 1%
• Common ancestry: Portuguese 14% Romanian 8% Lithuanian 5%
• Foreign-born: 1% · Canada

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: ▼ -100.66%
• Current HPI: 237.4607
• 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

+261.5% since first listed

5 events — show timeline

• 2026-06-04 Sold (MLS) $188,000 LSAR
• 2026-05-11 Pending — LSAR
• 2026-05-11 Price Changed $188,000 LSAR
• 2026-05-05 Listed $175,000 LSAR
• 2014-02-18 Sold (Public Records) $52,000 Public Records

Property tax history

-0.2%/yr

Latest (2026): $1,792 · +13.4% YoY. Source: county tax records.