2101 E 1st St · Duluth, MN 55812

$269,900

4 bd · 2.0 ba · 1,965 sqft · SingleFamily public records · 18 Days on market

Built 1890 6,970 sqft lot Est $399k · 32% under ↓ 10% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Rent growth +4.5/5.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• DSCR +3.8/10.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to build equity with this classic Congdon. Home has had many recent updates: FRESHLY PAINTED, roof, porch, gutters, exterior paint. There is a spacious foyer, living room with fireplace, a formal dining room, and a kitchen with a breakfast nook. Upstairs, you'll find four generously sized bedrooms, including one with a walk-in closet, and a full bath. The lower level offers additional convenience with a ¾ bath. Outside, enjoy a beautifully landscaped yard, storage shed, and off-street parking. A fantastic opportunity to build equity in one of Duluth’s most desirable neighborhoods. Don’t miss it!

Key facts

• Recent updates
• Formal dining room
• Walk-in closet

Tags

• RECENT UPDATES
• SPACIOUS FOYER
• LIVING ROOM WITH FIREPLACE
• FORMAL DINING ROOM
• KITCHEN WITH BREAKFAST NOOK
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-27 ($-327/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (17.9% below list).
• Recommended offer: $221k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Duluth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents rising fast (+8.1%/yr); 50 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 41% 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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,487 (17.9% 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 1890 — 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: 0.82% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $398,895
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2113 E 2nd St	0.08mi	4/2.5	1,976 (+1%)	13mo	$425,000	$215	83
210 W Kent Rd	0.61mi	3/2.0 (-1)	1,969 (+0%)	4mo	$399,900	$203	63
619 Woodland Ave	0.38mi	4/1.0	1,791 (-9%)	1mo	$260,000	$145	63
823 Grandview Ave	0.66mi	3/2.5 (-1)	1,970 (+0%)	1mo	$410,000	$208	62
1719 E 8th St	0.58mi	3/1.5 (-1)	2,041 (+4%)	11mo	$385,000	$189	50
845 Grandview Ave	0.65mi	3/2.0 (-1)	1,760 (-10%)	0mo	$400,000	$227	47
815 Grandview Ave	0.65mi	3/2.0 (-1)	1,749 (-11%)	0mo	$370,000	$212	46
2708 E 1st St	0.54mi	3/2.0 (-1)	1,753 (-11%)	10mo	$240,000	$137	44
21 Snelling Ave	0.63mi	3/2.0 (-1)	1,765 (-10%)	9mo	$330,000	$187	41
844 Grandview Ave	0.63mi	3/2.0 (-1)	1,750 (-11%)	12mo	$340,000	$194	38
620 N 16th Ave Ave E	0.58mi	3/1.0 (-1)	1,720 (-12%)	8mo	$375,000	$218	37
215 Garden St	0.59mi	3/3.0 (-1)	2,183 (+11%)	12mo	$389,500	$178	35

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: -11.8%
• Equity multiple: 0.55×
• Total profit: $-33,787
• Equity at exit: $40,243

10-year hold

• IRR: 3.3%
• Equity multiple: 1.28×
• Total profit: $21,533
• Equity at exit: $23,336

Cash invested: $75,572 (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: 50
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,215 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$249 /mo · $2,990/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-27

Break-even live

Break-even rent $2,249

Max offer price $265,084

Occupancy floor 96%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	13d	1	0.08mi
1821 E 1st St Duluth, MN	5.0	2.0	1662	$2,300	$1.38	13d	1	0.23mi
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	13d	1	0.30mi
202 S 18th Ave E Duluth, MN	5.0	2.5	2372	$2,495	$1.05	13d	1	0.34mi
426 N 13th Ave E Duluth, MN	3.0	1.0	1248	$1,900	$1.52	13d	1	0.76mi
609 E 6th St Duluth, MN	5.0	2.0	1850	$1,795	$0.97	21d	1	1.37mi
2044 Woodland Ave Duluth, MN	4.0	2.0	1812	$2,350	$1.30	21d	1	1.45mi

Listing history 20 events

1. 2026-06-19
   days on market $269,900 Active 18 DOM
2. 2026-06-18
   days on market $269,900 Active 17 DOM
3. 2026-06-17
   days on market $269,900 Active 16 DOM
4. 2026-06-16
   days on market $269,900 Active 15 DOM
5. 2026-06-15
   days on market $269,900 Active 14 DOM
6. 2026-06-14
   days on market $269,900 Active 12 DOM
7. 2026-06-13
   days on market $269,900 Active 11 DOM
8. 2026-06-10
   days on market $269,900 Active 9 DOM
9. 2026-06-09
   days on market $269,900 Active 8 DOM
10. 2026-06-08
    days on market $269,900 Active 7 DOM
11. 2026-06-07
    days on market $269,900 Active 6 DOM
12. 2026-06-05
    days on market $269,900 Active 3 DOM
13. 2026-06-03
    days on market $269,900 Active 2 DOM
14. 2026-06-02
    days on marketlisting id $269,900 Active 1 DOM
15. 2026-05-31
    days on market $269,900 Active 121 DOM
16. 2026-05-30
    days on market $269,900 Active 120 DOM
17. 2026-05-17
    price $269,900 639-char remark

    Show marketing remark (639 chars)

    Great opportunity to build equity with this classic Congdon. Home has had many recent updates: FRESHLY PAINTED, roof, porch, gutters, exterior paint. There is a spacious foyer, living room with fireplace, a formal dining room, and a kitchen with a breakfast nook. Upstairs, you'll find four generously sized bedrooms, including one with a walk-in closet, and a full bath. The lower level offers additional convenience with a ¾ bath. Outside, enjoy a beautifully landscaped yard, storage shed, and off-street parking. A fantastic opportunity to build equity in one of Duluth’s most desirable neighborhoods. Don’t miss it!

18. 2026-04-22
    price $279,900 639-char remark

    Show marketing remark (639 chars)

    Great opportunity to build equity with this classic Congdon. Home has had many recent updates: FRESHLY PAINTED, roof, porch, gutters, exterior paint. There is a spacious foyer, living room with fireplace, a formal dining room, and a kitchen with a breakfast nook. Upstairs, you'll find four generously sized bedrooms, including one with a walk-in closet, and a full bath. The lower level offers additional convenience with a ¾ bath. Outside, enjoy a beautifully landscaped yard, storage shed, and off-street parking. A fantastic opportunity to build equity in one of Duluth’s most desirable neighborhoods. Don’t miss it!

19. 2026-03-31
    price $289,900 639-char remark

    Show marketing remark (639 chars)

    Great opportunity to build equity with this classic Congdon. Home has had many recent updates: FRESHLY PAINTED, roof, porch, gutters, exterior paint. There is a spacious foyer, living room with fireplace, a formal dining room, and a kitchen with a breakfast nook. Upstairs, you'll find four generously sized bedrooms, including one with a walk-in closet, and a full bath. The lower level offers additional convenience with a ¾ bath. Outside, enjoy a beautifully landscaped yard, storage shed, and off-street parking. A fantastic opportunity to build equity in one of Duluth’s most desirable neighborhoods. Don’t miss it!

20. 2026-01-30
    listed $299,900 Active 639-char remark

    Show marketing remark (639 chars)

    Great opportunity to build equity with this classic Congdon. Home has had many recent updates: FRESHLY PAINTED, roof, porch, gutters, exterior paint. There is a spacious foyer, living room with fireplace, a formal dining room, and a kitchen with a breakfast nook. Upstairs, you'll find four generously sized bedrooms, including one with a walk-in closet, and a full bath. The lower level offers additional convenience with a ¾ bath. Outside, enjoy a beautifully landscaped yard, storage shed, and off-street parking. A fantastic opportunity to build equity in one of Duluth’s most desirable neighborhoods. Don’t miss it!

ⓘ 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: $2,990 · $249/mo
• Projected year-2 tax: $3,006 · $251/mo
• Expected delta: +$16/yr (+$1/mo · 0.5%)

ⓘ 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: $26,578
• − Mortgage interest: −$15,119
• − Property taxes: −$2,990
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,126
• − Management: −$2,126
• − Depreciation: −$7,852
• Taxable loss: −$4,984
• Est. tax savings @ 24.0%: +$1,196
• After-tax cash flow: $869/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

-10.0% since first listed

4 events — show timeline

• 2026-05-17 Price Changed $269,900 LSAR
• 2026-04-22 Price Changed $279,900 LSAR
• 2026-03-31 Price Changed $289,900 LSAR
• 2026-01-30 Listed $299,900 LSAR

Property tax history

+7.4%/yr

Latest (2025): $2,990 · -3.0% YoY. Source: county tax records.