605 E 10th St · Duluth, MN 55805

$239,900

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 12 Days on market

Built 1929 6,969 sqft lot Est $235k · at est.

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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 +14.5/30.0
• ARV discount +6.5/15.0
• DSCR +4.4/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• 1% rule +3.7/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-kept 3 bedroom 1 bath bungalow featuring a practical floor plan and inviting living spaces. Beautifully kept hardwood floors. New roof in 2024. Spend your summer at your bonfire pit or sitting on your covered porch soaking up the fresh Lake Superior air. Affordable living with plenty of potential to make it your own or a fantastic rental property just minutes from the colleges. Current rental license in place.

Key facts

• Covered porch
• Bonfire pit
• Hardwood floors

Tags

• HARDWOOD FLOORS
• COVERED PORCH
• BONFIRE PIT
• RENTAL LICENSE

Property features AI

Finance

• Financial info: Standard rental license (rental license active)

Exterior

• Parking: 1-car garage
• Utilities: City water; City sewer; Natural gas; Electric service by Minnesota Power
• Home design: Residential property; Two levels
• Construction: Frame construction; Asphalt roof; Full basement (unfinished); Foundation area approximately 884 with foundation dimensions 34' x 26'; Built area above grade approximately 1,326
• Exterior features: Deck; Chain link fencing; Lot approximately 0.16 acre with dimensions 50' x 140'

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Eat-in kitchen
• Bedrooms: Three bedrooms total (one on the main level, two on the upper level)
• Bathrooms: One full bathroom on the main floor
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Dishwasher; Dryer; Range; Refrigerator; Washer; Eat-in kitchen and separate/formal dining room; Full unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry area in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $51 ($617/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 $208k (13.2% below list).
• Recommended offer: $208k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Myers-Wilkins Elementary (math 17% / reading 37%, grade F, #703 of 857 statewide, top 84%, 341 students, 88% 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: Rents rising fast (+4.3%/yr); 41 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,082/mo this rent would consume 58% of the median local household income ($43k/yr) (locally 927% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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 $164k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,216 (13.2% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.87% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $234,702
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 E 11th St	0.11mi	3/1.0	1,296 (-2%)	2mo	$139,900	$108	90
1230 N 7th Ave E	0.19mi	3/2.0	1,229 (-7%)	1mo	$276,000	$225	74
1107 N 7th Ave Ave E	0.10mi	4/2.0 (+1)	1,196 (-10%)	5mo	$185,000	$155	66
1125 N 7th Ave Ave E	0.12mi	3/1.5	1,133 (-15%)	3mo	$260,000	$229	66
723 N 10th Ave Ave E	0.36mi	4/2.0 (+1)	1,399 (+6%)	8mo	$215,000	$154	59
505 E 6th St	0.29mi	3/1.0	1,140 (-14%)	6mo	$219,000	$192	58
1015 N 11th Ave E	0.41mi	3/1.0	1,500 (+13%)	5mo	$237,500	$158	55
407 E 6th St	0.33mi	2/1.0 (-1)	1,152 (-13%)	7mo	$205,000	$178	52
1208 E 9th St	0.54mi	3/1.0	1,186 (-11%)	8mo	$170,000	$143	50
1022 E 11th St	0.39mi	2/2.0 (-1)	1,497 (+13%)	8mo	$265,000	$177	44
1118 E 6th St	0.56mi	4/2.0 (+1)	1,481 (+12%)	2mo	$260,500	$176	44
102 E 11th St	0.45mi	3/2.0	1,131 (-15%)	9mo	$281,000	$248	43

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.51×
• Total profit: $-32,765
• Equity at exit: $35,770

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-12,353
• Equity at exit: $20,742

Cash invested: $67,172 (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 55805

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 41
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$236 /mo · $2,826/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $51

Break-even live

Break-even rent $2,017

Max offer price $239,900

Occupancy floor 93%

Sensitivity live

Price	-10% $187	-5% $119	+0% $51	+5% $-17	+10% $-84
Rent	-10% $-113	-5% $-31	+0% $51	+5% $134	+10% $216
Rate	-1.0pp $172	-0.5pp $112	base $51	+0.5pp $-11	+1.0pp $-74

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 N 10th Ave E Duluth, MN	3.0	1.0	1120	$1,800	$1.61	45d	1	0.34mi
425 E 5th St Duluth, MN	3.0	1.0	1124	$1,995	$1.77	45d	1	0.40mi
13 E 8th St Duluth, MN	4.0	1.5	1388	$2,000	$1.44	45d	1	0.54mi
916 E 3rd St Duluth, MN	2.0	1.0	1325	$1,750	$1.32	15d	1	0.63mi
426 N 13th Ave E Duluth, MN	3.0	1.0	1248	$1,900	$1.52	15d	1	0.73mi
513 N 1st Ave W Unit 509 Duluth, MN	2.0	1.0	1300	$1,355	$1.04	45d	1	0.75mi
333 E Superior St Duluth, MN	2.0	1.0–2.0	1154	$5,822	$5.05	15d	96	0.75mi
311 E Superior St #902 Duluth, MN	2.0	2.0	1500	$3,995	$2.66	45d	1	0.77mi
333 N 1st Ave W Apt 3130 Duluth, MN	2.0	2.0	995	$1,830	$1.84	15d	1	0.82mi
502 N Oak Bend Dr Duluth, MN	1.0–2.0	1.0	857	$1,549	$1.81	15d	1	0.83mi
1425 E 2nd St Fl , 1 Duluth, MN	2.0	1.0	1100	$1,450	$1.32	45d	1	0.95mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	15d	1	1.16mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	23d	7	1.16mi

Listing history 10 events

1. 2026-04-20
   status Pending 418-char remark

   Show marketing remark (418 chars)

   Well-kept 3 bedroom 1 bath bungalow featuring a practical floor plan and inviting living spaces. Beautifully kept hardwood floors. New roof in 2024. Spend your summer at your bonfire pit or sitting on your covered porch soaking up the fresh Lake Superior air. Affordable living with plenty of potential to make it your own or a fantastic rental property just minutes from the colleges. Current rental license in place.

2. 2026-04-20
   status Pending

   Show marketing remark (418 chars)

   Well-kept 3 bedroom 1 bath bungalow featuring a practical floor plan and inviting living spaces. Beautifully kept hardwood floors. New roof in 2024. Spend your summer at your bonfire pit or sitting on your covered porch soaking up the fresh Lake Superior air. Affordable living with plenty of potential to make it your own or a fantastic rental property just minutes from the colleges. Current rental license in place.

3. 2026-04-12
   historical Contingent - Inspection
4. 2026-04-08
   listed $239,900 Active 418-char remark

   Show marketing remark (418 chars)

   Well-kept 3 bedroom 1 bath bungalow featuring a practical floor plan and inviting living spaces. Beautifully kept hardwood floors. New roof in 2024. Spend your summer at your bonfire pit or sitting on your covered porch soaking up the fresh Lake Superior air. Affordable living with plenty of potential to make it your own or a fantastic rental property just minutes from the colleges. Current rental license in place.

5. 2026-04-08
   listed $239,900 Active

   Show marketing remark (418 chars)

   Well-kept 3 bedroom 1 bath bungalow featuring a practical floor plan and inviting living spaces. Beautifully kept hardwood floors. New roof in 2024. Spend your summer at your bonfire pit or sitting on your covered porch soaking up the fresh Lake Superior air. Affordable living with plenty of potential to make it your own or a fantastic rental property just minutes from the colleges. Current rental license in place.

6. 2020-09-03
   soldstatus $164,500 1059-char remark

   Show marketing remark (1059 chars)

   Absolutely immaculate 3-bedroom 1-bathroom expansion bungalow loaded with character and charm! The welcoming main floor features a bright and spacious living room and dining room with beautifully refinished maple hardwood flooring, crown moulding, huge picture windows, original lighting and glass door knobs. The eat-in kitchen offers plenty of white cabinets, newer flooring, new appliances and off the kitchen is an adorable mud room that leads to the new 12x20 deck and fenced backyard! There is a main floor bedroom and a full bath with original basket weave tile floors and the original tub. On the second floor you’ll find 2 additional bedrooms including a large bedroom with 2 built-in beds and double closets, and an awesome storage room. The tidy basement has a new washer/dryer, a new furnace, a work bench and plenty of storage. Other features include maintenance free siding, new windows, a new garage door, new insulation in the attic, a new back door and a 15x7 covered front porch. This home is totally move-in ready, come check it out!

7. 2020-07-27
   listed $149,900 1059-char remark

   Show marketing remark (1059 chars)

   Absolutely immaculate 3-bedroom 1-bathroom expansion bungalow loaded with character and charm! The welcoming main floor features a bright and spacious living room and dining room with beautifully refinished maple hardwood flooring, crown moulding, huge picture windows, original lighting and glass door knobs. The eat-in kitchen offers plenty of white cabinets, newer flooring, new appliances and off the kitchen is an adorable mud room that leads to the new 12x20 deck and fenced backyard! There is a main floor bedroom and a full bath with original basket weave tile floors and the original tub. On the second floor you’ll find 2 additional bedrooms including a large bedroom with 2 built-in beds and double closets, and an awesome storage room. The tidy basement has a new washer/dryer, a new furnace, a work bench and plenty of storage. Other features include maintenance free siding, new windows, a new garage door, new insulation in the attic, a new back door and a 15x7 covered front porch. This home is totally move-in ready, come check it out!

8. 2015-05-22
   soldstatus $100,000
9. 2015-04-30
   soldstatus $100,000
10. 2015-02-20
    listed $107,900

ⓘ 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: $2,826 · $236/mo
• Projected year-2 tax: $2,826 · $236/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 ≥91°F today · 13 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: $24,986
• − Mortgage interest: −$13,438
• − Property taxes: −$2,826
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$6,979
• Taxable loss: −$3,454
• Est. tax savings @ 24.0%: +$829
• After-tax cash flow: $1,446/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): 10,602
• Household income: $43,100
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 927.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 4% Black 3% Asian 2% Native American 2%
• Common ancestry: Portuguese 13% Romanian 4% Scottish 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Other Asian/Pacific 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: ▼ -92.92%
• Current HPI: 250.3056
• Rent YoY: ▲ 4.34%
• 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

+122.3% since first listed

10 events — show timeline

• 2026-04-20 Pending — LSAR
• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-08 Listed $239,900 LSAR
• 2026-04-08 Listed $239,900 NORTHSTARMLS as Distributed by MLS Grid
• 2020-09-03 Sold (MLS) $164,500 LSAR
• 2020-07-27 Listed $149,900 LSAR
• 2015-05-22 Sold (Public Records) $100,000 Public Records
• 2015-04-30 Sold (MLS) $100,000 LSAR
• 2015-02-20 Listed $107,900 LSAR

Property tax history

+4.3%/yr

Latest (2025): $2,826 · +8.3% YoY. Source: county tax records.