623 N 41st Ave Ave W · Duluth, MN 55807

$100,000

2 bd · 1.0 ba · 1,043 sqft · SingleFamily public records · 18 Days on market

Built 1917 3,485 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

Key facts

• Formal dining room
• Double closets
• Coat storage

Tags

• ENCLOSED FRONT PORCH
• COAT STORAGE
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• DOUBLE CLOSETS
• FULL BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: 50 active listings in the ZIP; 2 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 $691 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $100k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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: 1.50% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.40%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $226,331
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4217 W 7th St	0.13mi	3/2.0 (+1)	1,021 (-2%)	3mo	$245,000	$240	79
526 N 43rd Ave W	0.17mi	3/1.5 (+1)	1,033 (-1%)	10mo	$245,315	$237	75
3925 Grand Ave	0.28mi	3/1.0 (+1)	1,000 (-4%)	0mo	$140,000	$140	75
3916 W 4th St	0.25mi	3/1.5 (+1)	1,005 (-4%)	2mo	$250,000	$249	74
838 Charles Ave	0.28mi	2/1.0	1,137 (+9%)	2mo	$228,000	$201	71
417 N 38th Ave Ave W	0.31mi	2/1.5	1,082 (+4%)	8mo	$235,000	$217	71
3721 W 4th St	0.37mi	2/1.0	1,008 (-3%)	9mo	$214,900	$213	69
4512 W 7th St	0.37mi	2/2.0	1,025 (-2%)	10mo	$240,000	$234	68
4316 6th St	0.22mi	3/1.0 (+1)	924 (-11%)	1mo	$230,000	$249	65
5524 W 8th St	0.64mi	2/1.0	1,040 (-0%)	10mo	$206,000	$198	61
3337 Vernon St	0.67mi	3/1.0 (+1)	1,103 (+6%)	1mo	$165,000	$150	54
406 N 43rd Ave W	0.23mi	3/1.5 (+1)	1,175 (+13%)	10mo	$240,000	$204	53

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: 12.7%
• Equity multiple: 1.51×
• Total profit: $14,152
• Equity at exit: $14,910

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $51,501
• Equity at exit: $8,646

Cash invested: $28,000 (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 55807

• Active inventory: 50
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,497 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$140 /mo · $1,686/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $476

Break-even live

Break-even rent $894

Max offer price $100,000

Occupancy floor 63%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.82mi
509 N 53rd Ave W Duluth, MN	2.0	1.0	931	$1,250	$1.34	43d	1	0.92mi

Listing history 22 events

1. 2026-06-19
   days on market $100,000 Active 18 DOM
2. 2026-06-18
   days on market $100,000 Active 17 DOM
3. 2026-06-17
   days on market $100,000 Active 16 DOM
4. 2026-06-16
   days on market $100,000 Active 15 DOM
5. 2026-06-15
   days on market $100,000 Active 14 DOM
6. 2026-06-14
   days on market $100,000 Active 12 DOM
7. 2026-06-13
   days on market $100,000 Active 11 DOM
8. 2026-06-10
   pricedays on market $100,000 Active 9 DOM
9. 2026-06-09
   days on market $107,500 Active 8 DOM
10. 2026-06-08
    days on market $107,500 Active 7 DOM
11. 2026-06-07
    days on market $107,500 Active 6 DOM
12. 2026-06-05
    days on market $107,500 Active 3 DOM
13. 2026-06-03
    days on market $107,500 Active 2 DOM
14. 2026-06-02
    pricedays on marketlisting id $107,500 Active 1 DOM
15. 2026-05-30
    days on market $110,000 Active 102 DOM
16. 2026-05-05
    price $110,000 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

17. 2026-04-25
    price $115,000 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

18. 2026-04-21
    price $120,000 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

19. 2026-04-03
    price $130,000 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

20. 2026-03-17
    price $140,000 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

21. 2026-02-17
    listed $145,000 Active 640-char remark

    Show marketing remark (640 chars)

    Don’t miss this fantastic chance to build value in the Denfeld neighborhood. This 2-bedroom, 1-bath home offers classic charm and plenty of potential for the right buyer ready to make it their own. Home has an enclosed front porch leading to an entry with coat storage. The main level features a spacious living room, formal dining room, and a kitchen complete with a breakfast nook. Upstairs, you’ll find two comfortable bedrooms—both with double closets—along with a full bath. Whether you're an investor or a homeowner looking to create your dream space, this property is a great opportunity to gain sweat equity.

22. 1999-12-29
    soldstatus $59,000

ⓘ 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: $1,686 · $140/mo
• Projected year-2 tax: $1,686 · $140/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 13 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: $17,965
• − Mortgage interest: −$5,602
• − Property taxes: −$1,686
• − Insurance: −$500
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$2,909
• Taxable income: $4,394
• Est. tax owed @ 24.0%: −$1,055
• After-tax cash flow: $4,659/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): 9,763
• Household income: $62,067
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 407.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 1% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 4%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -127.84%
• Current HPI: 212.6883
• 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

+86.4% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $110,000 LSAR
• 2026-04-25 Price Changed $115,000 LSAR
• 2026-04-21 Price Changed $120,000 LSAR
• 2026-04-03 Price Changed $130,000 LSAR
• 2026-03-17 Price Changed $140,000 LSAR
• 2026-02-17 Listed $145,000 LSAR
• 1999-12-29 Sold (Public Records) $59,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,686 · +5.6% YoY. Source: county tax records.