1132 87th Ave Ave W · Duluth, MN 55808

$99,900

2 bd · 1.0 ba · 840 sqft · Townhouse public records · 49 Days on market

Built 1913 1,742 sqft lot $119/sqft · 8% above area Est $107k · 7% under

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Why this score? — see what drove the C 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 +21.3/30.0
• ARV discount +10.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.3/10.0
• 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

Looking for an affordable 3 bedroom townhome for a place to call home or add to your investment portfolio? Here it is! Features include maintenance free and hardwood floors, some vinyl windows, an off street parking spot, and a front porch and back enclosed porch. The basement has a 3rd bedroom with egress window, washer and dryer hookups, and extra space for storage. There is a rental license active until 7.1.2026 and currently rented on a month to month lease for $1,100 + utilities. Listing agent related to the seller. Check it out!

Key facts

• 1,742 sq ft lot
• Built 1913
• Listed 48 days

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $146 ($2k/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: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: 35 active listings in the ZIP; 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.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1913 — 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• GRM: 8.1

CMA / ARV

• ARV (median comp): $107,018
• List price: $99,900
• Delta: -6.65%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1035 86th Ave Ave W	0.15mi	2/1.0	840 (0%)	12mo	$124,900	$149	83
1052 87th Ave W	0.12mi	2/1.0	776 (-8%)	10mo	$129,900	$167	74
1449 90th Ave Ave W	0.35mi	2/1.0	784 (-7%)	4mo	$77,500	$99	70

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-6,894
• Equity at exit: $14,895

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $5,969
• Equity at exit: $8,638

Cash invested: $27,972 (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 55808

• Home prices YoY: -29.8%
• Active inventory: 35
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $146

Break-even live

Break-even rent $846

Max offer price $99,900

Occupancy floor 81%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-16
   price $99,900 540-char remark

   Show marketing remark (540 chars)

   Looking for an affordable 3 bedroom townhome for a place to call home or add to your investment portfolio? Here it is! Features include maintenance free and hardwood floors, some vinyl windows, an off street parking spot, and a front porch and back enclosed porch. The basement has a 3rd bedroom with egress window, washer and dryer hookups, and extra space for storage. There is a rental license active until 7.1.2026 and currently rented on a month to month lease for $1,100 + utilities. Listing agent related to the seller. Check it out!

2. 2026-04-08
   listed $110,000 Active 540-char remark

   Show marketing remark (540 chars)

   Looking for an affordable 3 bedroom townhome for a place to call home or add to your investment portfolio? Here it is! Features include maintenance free and hardwood floors, some vinyl windows, an off street parking spot, and a front porch and back enclosed porch. The basement has a 3rd bedroom with egress window, washer and dryer hookups, and extra space for storage. There is a rental license active until 7.1.2026 and currently rented on a month to month lease for $1,100 + utilities. Listing agent related to the seller. Check it out!

3. 2007-07-19
   historical
4. 2007-07-16
   listed $64,900

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,230 · $102/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 ≥91°F today · 13 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: $12,363
• − Mortgage interest: −$5,596
• − Property taxes: −$1,230
• − Insurance: −$500
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,906
• Taxable income: $153
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $1,714/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

+53.9% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $99,900 LSAR
• 2026-04-08 Listed $110,000 LSAR
• 2007-07-19 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2007-07-16 Listed $64,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $1,230 · -2.7% YoY. Source: county tax records.