215 W Arrowhead Rd · Duluth, MN 55803

$279,900

4 bd · 2.0 ba · 1,490 sqft · Other public records · 34 Days on market

Built 1924 4,965 sqft lot

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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 +16.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +4.4/10.0
• 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

Listing remarks MLS

Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

Key facts

• Hardwood floors
• 4,965 sq ft lot
• 2 garage spots

Tags

• WALKING DISTANCE TO UMD
• HARDWOOD FLOORS
• GENEROUS LIVING SPACES
• PROXIMITY TO SHOPPING
• PROXIMITY TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $280k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (6.0% below list).
• Recommended offer: $263k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Zoned schools: Lowell Elementary (math 37% / reading 47%, grade F, #579 of 857 statewide, top 69%, 276 students, 50% FRL); Ordean East Middle School (math 45% / reading 61%, grade C+, #53 of 258 statewide, top 22%, 989 students, 26% FRL); East High School (math 42% / reading 73%, grade C, #59 of 471 statewide, top 13%, 1,494 students, 23% FRL).
• Market conditions: 109 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $139k; list at $280k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $263,050 (6.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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 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?
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: 0.94% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.50%
• DSCR: 1.11
• GRM: 8.9

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: -12.3%
• Equity multiple: 0.55×
• Total profit: $-34,948
• Equity at exit: $41,734

10-year hold

• IRR: -3.2%
• Equity multiple: 0.78×
• Total profit: $-16,953
• Equity at exit: $24,201

Cash invested: $78,372 (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 55803

• Active inventory: 109
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$331 /mo · $3,968/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $163

Break-even live

Break-even rent $2,424

Max offer price $279,900

Occupancy floor 89%

Sensitivity live

Price	-10% $321	-5% $242	+0% $163	+5% $84	+10% $5
Rent	-10% $-45	-5% $59	+0% $163	+5% $267	+10% $371
Rate	-1.0pp $304	-0.5pp $234	base $163	+0.5pp $90	+1.0pp $17

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2044 Woodland Ave Duluth, MN	4.0	2.0	1812	$2,350	$1.30	23d	1	0.30mi
1515 Kenwood Ave Duluth, MN	3.0	2.0	1201	$2,350	$1.96	15d	1	1.25mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	15d	1	1.27mi
1821 E 1st St Duluth, MN	5.0	2.0	1662	$2,300	$1.38	15d	1	1.41mi
3780 London Rd Duluth, MN	1.0–3.0	1.0–2.0	1312	$3,485	$2.66	15d	1	1.47mi

Listing history 12 events

1. 2026-03-30
   status Pending
2. 2026-03-27
   status Pending 863-char remark

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

3. 2026-03-27
   historical Contingent - Subject to Financing

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

4. 2026-03-11
   price $279,900

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

5. 2026-03-11
   price $279,900 863-char remark

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

6. 2026-02-24
   listed $289,900 Active

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

7. 2026-02-24
   listed $289,900 Active 863-char remark

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 4-bedroom bungalow is ideally located within walking distance to UMD and The College of St. Scholastica, making it a highly desirable rental for students seeking both convenience and charm. Featuring beautiful hardwood floors and spacious bedrooms, this home offers character and functionality, the perfect balance for studying, relaxing, and everyday living. The inviting layout and generous living spaces create a comfortable environment that tenants will love. With strong rental demand in this area and proximity to shopping, restaurants, and public transportation (including bus lines), this property checks every box for investors looking to generate steady income. Whether you're expanding your portfolio or stepping into student housing for the first time, this cute bungalow is a smart move with built-in appeal.

8. 2024-04-05
   historical $2,040
9. 2023-12-12
   listed $2,160
10. 2003-06-25
    soldstatus $139,000
11. 2001-05-15
    soldstatus $101,000
12. 2000-05-10
    soldstatus $96,000

ⓘ 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: $3,968 · $331/mo
• Projected year-2 tax: $3,968 · $331/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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $31,566
• − Mortgage interest: −$15,679
• − Property taxes: −$3,968
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$8,143
• Taxable loss: −$2,673
• Est. tax savings @ 24.0%: +$642
• After-tax cash flow: $2,597/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): 17,662
• Household income: $105,888
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 322.0

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Portuguese 16% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Chinese 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: ▼ -363.34%
• Current HPI: 197.6712
• 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

+191.6% since first listed

12 events — show timeline

• 2026-03-30 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-27 Pending — LSAR
• 2026-03-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $279,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-11 Price Changed $279,900 LSAR
• 2026-02-24 Listed $289,900 LSAR
• 2026-02-24 Listed $289,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-04-05 Rental Removed $2,040 RENT.
• 2023-12-12 Listed for Rent $2,160 RENT.
• 2003-06-25 Sold (Public Records) $139,000 Public Records
• 2001-05-15 Sold (Public Records) $101,000 Public Records
• 2000-05-10 Sold (Public Records) $96,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $3,968 · +10.7% YoY. Source: county tax records.