140 W Howard St · Hibbing, MN 55746

$49,900

3 bd · 1.0 ba · 1,056 sqft · Other public records · 37 Days on market

Built 1918 3,049 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 +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to this Hibbing home, offering over 1,000 sq. ft. of potential. Built on a solid foundation with good bones, this property is a blank canvas for your creative touch. The kitchen features newer cabinets, Formica countertops, and a mix of laminate, vinyl, and carpet flooring throughout. Serviced by public water and sewer, the home is equipped with portable heating units. Perfect for an ambitious investor or a DIY enthusiast looking to build equity in a well-established neighborhood. Sold as-is.

Key facts

• Carpet flooring
• Laminate flooring
• Newer cabinets

Tags

• SOLID FOUNDATION
• NEWER CABINETS
• FORMICA COUNTERTOPS
• LAMINATE FLOORING
• VINYL FLOORING
• CARPET FLOORING

Property features AI

Finance

• Financial info: $1,048 annual taxes (2025)

Exterior

• Parking: Other parking
• Utilities: City water connected; City sewer connected; Natural gas
• Home design: Residential property; One story
• Construction: Shallow block foundation; Above-grade finished living area: 1,056; Below-grade area: 528; Total building area: 1,584
• Exterior features: Vinyl exterior; Lot about 0.07 acres (approximately 25 x 125)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; No central air
• Interior features: Partial basement; Block foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $725 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 6.4% in Hibbing — 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 79/100 on livability (#103 in MN, #2,307 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Hibbing Public School District (town): math 43% / reading 54% proficiency, ranked #150 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 30% of the median local income ($56k/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 $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 2.83% ✓
• Cap rate: 23.73%
• Cash-on-cash: 62.27%
• DSCR: 3.77
• GRM: 2.9

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: 61.2%
• Equity multiple: 3.73×
• Total profit: $38,143
• Equity at exit: $7,440

10-year hold

• IRR: 65.9%
• Equity multiple: 7.65×
• Total profit: $92,881
• Equity at exit: $4,314

Cash invested: $13,972 (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 55746

• Home prices YoY: -18.7%
• Active inventory: 96
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $725

Break-even live

Break-even rent $496

Max offer price $49,900

Occupancy floor 44%

Sensitivity live

Price	-10% $753	-5% $739	+0% $725	+5% $711	+10% $697
Rent	-10% $613	-5% $669	+0% $725	+5% $781	+10% $837
Rate	-1.0pp $750	-0.5pp $738	base $725	+0.5pp $712	+1.0pp $699

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Southview Dr Hibbing, MN	1.0–3.0	1.0	833	$1,072	$1.29	14d	1	1.20mi
1606 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	14d	1	1.44mi
1605 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	44d	1	1.44mi
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	44d	1	1.48mi

Listing history 24 events

1. 2026-06-19
   pricedays on market $49,900 Active 37 DOM
2. 2026-06-18
   days on market $54,900 Active 36 DOM
3. 2026-06-17
   days on market $54,900 Active 35 DOM
4. 2026-06-16
   days on market $54,900 Active 34 DOM
5. 2026-06-15
   days on market $54,900 Active 33 DOM
6. 2026-06-14
   days on market $54,900 Active 31 DOM
7. 2026-06-13
   pricedays on market $54,900 Active 30 DOM
8. 2026-06-10
   days on market $59,900 Active 28 DOM
9. 2026-06-09
   days on market $59,900 Active 27 DOM
10. 2026-06-08
    days on market $59,900 Active 26 DOM
11. 2026-06-07
    days on market $59,900 Active 25 DOM
12. 2026-06-05
    days on market $59,900 Active 22 DOM
13. 2026-06-03
    days on market $59,900 Active 21 DOM
14. 2026-06-02
    days on market $59,900 Active 20 DOM
15. 2026-06-01
    days on market $59,900 Active 19 DOM
16. 2026-05-31
    days on market $59,900 Active 18 DOM
17. 2026-05-30
    days on market $59,900 Active 17 DOM
18. 2026-05-13
    listed $69,900 Active 515-char remark
19. 2014-12-18
    price $16,900
20. 2014-11-13
    price $19,900
21. 2014-10-06
    price $23,900
22. 2014-09-11
    price $27,900
23. 2014-06-11
    historical
24. 2014-05-01
    listed $35,000 Active

ⓘ 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: $1,312 · $109/mo
• Projected year-2 tax: $1,312 · $109/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 5/10 Major
• 🌡 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: $16,965
• − Mortgage interest: −$2,795
• − Property taxes: −$1,312
• − Insurance: −$250
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$1,452
• Taxable income: $8,442
• Est. tax owed @ 24.0%: −$2,026
• After-tax cash flow: $6,674/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: Hibbing Public School District
• NCES district ID: 2713980
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 54% ▼ -13.00%
• Median HH income: $41,666
• Composite: 40.7/100
• National rank: #3667
• State rank: #150 of 301 in MN

Livability — Hibbing

• Score: 79/100
• State rank: #103
• US rank: #2307

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hibbing, MN
• County: Saint Louis County · 115,152 people
• City population: 16,730
• Metro: Duluth, MN-WI
• Population (ZIP): 16,730
• Household income: $55,823
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 623.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 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: ▼ -50.85%
• Current HPI: 220.7198
• 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

+56.9% since first listed

9 events — show timeline

• 2026-06-10 Price Changed $54,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-25 Price Changed $59,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-13 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-12-18 Price Changed $16,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-11-13 Price Changed $19,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-06 Price Changed $23,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-11 Price Changed $27,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-06-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-05-01 Listed $35,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+19.6%/yr

Latest (2026): $1,312 · +25.2% YoY. Source: county tax records.