721 N 20th Ave E · Duluth, MN 55812

$299,900

5 bd · 2.0 ba · 1,589 sqft · SingleFamily public records · 7 Days on market

Built 1950 6,534 sqft lot Est $262k · 14% over

---

Why this score? — see what drove the F 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 +10.9/30.0
• Rent growth +4.5/5.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• DSCR +3.2/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make money while you sleep! This adorable 5-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
• 6,534 sq ft lot
• Built 1950

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 5-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (21.7% below list).
• Recommended offer: $235k (21.7% below list) — sets the bar for 1% rule.

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: Congdon Elementary (math 71% / reading 76%, grade A, #41 of 857 statewide, top 5%, 452 students, 20% 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) — zoned schools average 23% FRL vs 39% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.1%/yr); 52 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); 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 43% of the median local income ($66k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 $185k; list at $300k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $234,900 (21.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — 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: 0.78% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.86%
• DSCR: 0.92
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $262,185
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 W Kent Rd	0.25mi	4/2.0 (-1)	1,548 (-3%)	0mo	$401,000	$259	79
221 Snelling Ave	0.29mi	4/1.0 (-1)	1,511 (-5%)	0mo	$250,000	$165	69
1513 Belmont Rd	0.47mi	5/2.0	1,587 (-0%)	13mo	$238,500	$150	67
419 N 13th Ave Ave E	0.65mi	6/2.0 (+1)	1,602 (+1%)	2mo	$252,000	$157	62
619 Woodland Ave	0.17mi	4/1.0 (-1)	1,791 (+13%)	1mo	$260,000	$145	61
1039 Brainerd Ave	0.60mi	4/2.0 (-1)	1,731 (+9%)	6mo	$379,000	$219	48
1118 E 6th St	0.74mi	4/2.0 (-1)	1,481 (-7%)	2mo	$260,500	$176	47
205 S 16th Ave E	0.70mi	4/1.5 (-1)	1,630 (+3%)	17mo	$284,900	$175	42
922 N 14th Ave Ave E	0.52mi	4/1.0 (-1)	1,472 (-7%)	21mo	$225,500	$153	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.47×
• Total profit: $-44,488
• Equity at exit: $44,716

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $7,017
• Equity at exit: $25,930

Cash invested: $83,972 (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 55812

• Rents YoY: 8.1%
• Active inventory: 52
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$288 /mo · $3,458/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-130

Break-even live

Break-even rent $2,514

Max offer price $276,913

Occupancy floor —

Sensitivity live

Price	-10% $40	-5% $-45	+0% $-130	+5% $-215	+10% $-300
Rent	-10% $-316	-5% $-223	+0% $-130	+5% $-37	+10% $55
Rate	-1.0pp $21	-0.5pp $-54	base $-130	+0.5pp $-208	+1.0pp $-287

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	15d	1	0.24mi
1821 E 1st St Duluth, MN	5.0	2.0	1662	$2,300	$1.38	15d	1	0.46mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	15d	1	0.55mi
609 E 6th St Duluth, MN	5.0	2.0	1850	$1,795	$0.97	23d	1	1.20mi
2044 Woodland Ave Duluth, MN	4.0	2.0	1812	$2,350	$1.30	23d	1	1.36mi

Listing history 12 events

1. 2026-03-03
   status Pending
2. 2026-03-01
   status Pending 863-char remark

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 5-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. 2026-02-24
   listed $299,900 Active

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 5-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. 2026-02-24
   listed $299,900 Active 863-char remark

   Show marketing remark (863 chars)

   Make money while you sleep! This adorable 5-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. 2024-12-12
   historical $2,650
6. 2024-12-11
   historical $2,650
7. 2024-11-21
   listed $2,650
8. 2024-11-21
   listed $2,650
9. 2022-12-07
   historical
10. 2016-09-13
    soldstatus $185,000
11. 2004-07-30
    soldstatus $159,900
12. 1999-06-24
    soldstatus $91,000

ⓘ 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: $3,458 · $288/mo
• Projected year-2 tax: $3,458 · $288/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 ≥90°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: $28,188
• − Mortgage interest: −$16,799
• − Property taxes: −$3,458
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$8,724
• Taxable loss: −$6,803
• Est. tax savings @ 24.0%: +$1,633
• After-tax cash flow: $71/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): 10,859
• Household income: $65,505
• Rent vs Own: 57.4% rent · 42.6% own
• Severe rent burden: 655.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 5% Hispanic / Latino 4% Black 4% Asian 3% Native American 1%
• Common ancestry: Portuguese 12% Romanian 6% Scottish 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 3% 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: ▼ -277.88%
• Current HPI: 196.8354
• Rent YoY: ▲ 8.07%
• 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

+229.6% since first listed

12 events — show timeline

• 2026-03-03 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-01 Pending — LSAR
• 2026-02-24 Listed $299,900 LSAR
• 2026-02-24 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2024-12-12 Rental Removed $2,650 SHOWMOJO
• 2024-12-11 Rental Removed $2,650 RENT.
• 2024-11-21 Listed for Rent $2,650 RENT.
• 2024-11-21 Listed for Rent $2,650 SHOWMOJO
• 2022-12-07 Rental Removed — RENT.
• 2016-09-13 Sold (Public Records) $185,000 Public Records
• 2004-07-30 Sold (Public Records) $159,900 Public Records
• 1999-06-24 Sold (Public Records) $91,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,458 · +8.4% YoY. Source: county tax records.