203 3rd St S · Virginia, MN 55792

$94,000

3 bd · 2.0 ba · 1,100 sqft · SingleFamily public records · 75 Days on market

Built 1917 3,049 sqft lot Est $134k · 30% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

Key facts

• Remodeled bathroom
• Sun porch
• Large basement

Tags

• MODERN FINISHES
• REMODELED BATHROOM
• SUN PORCH
• DETACHED GARAGE
• LARGE BASEMENT
• UNFINISHED UPPER FLOOR

Property features AI

Finance

• Other: Above grade finished area and main level finished area are 880 square feet; Below grade area 880 (basement); total building area 1,980

Exterior

• Parking: Detached or attached 1-car garage (12 x 24)
• Utilities: City water connected; City sewer connected; 200+ amp electric service; Fuel: Other
• Home design: Residential property; Two levels; Main entry on main level
• Construction: Block foundation; Built with above-grade finished area and additional below-grade space
• Exterior features: Lot approximately 0.07 acres; Lot dimensions 120 x 25

Interior

• Kitchen: Kitchen on main level (14 x 12)
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 three-quarter bathroom
• Heating & cooling: Baseboard heating; Steam heating; No central air / no cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 7.5% in Virginia — 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 63/100 on livability (#664 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D, health & safety D.
• Market conditions: 64 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 30% of the median local income ($54k/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 $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $16k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.43% ✓
• Cap rate: 12.84%
• Cash-on-cash: 23.38%
• DSCR: 2.04
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $134,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 S 4th St	0.08mi	3/2.0	1,260 (+14%)	11mo	$90,000	$71	63
605 13th St S	0.72mi	2/1.2 (-1)	1,080 (-2%)	15mo	$122,000	$113	42
502 12th St St S	0.66mi	3/1.5	984 (-10%)	9mo	$132,500	$135	42
222 3rd St N	0.35mi	2/0.8 (-1)	936 (-15%)	10mo	$73,000	$78	41
504 10th St St S	0.56mi	3/1.0	1,022 (-7%)	21mo	$125,000	$122	40
622 12th St S	0.75mi	4/1.5 (+1)	1,164 (+6%)	17mo	$129,000	$111	34
815 6th St St S	0.63mi	3/1.8	1,258 (+14%)	23mo	$160,000	$127	27
301 S 10th Ave	0.70mi	3/1.5	1,251 (+14%)	22mo	$165,000	$132	24

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $17,389
• Equity at exit: $14,016

10-year hold

• IRR: 25.0%
• Equity multiple: 3.17×
• Total profit: $57,034
• Equity at exit: $8,127

Cash invested: $26,320 (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 55792

• Home prices YoY: -26.5%
• Active inventory: 64
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$18 /mo · $222/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $513

Break-even live

Break-even rent $697

Max offer price $94,000

Occupancy floor 57%

Sensitivity live

Price	-10% $566	-5% $539	+0% $513	+5% $486	+10% $460
Rent	-10% $406	-5% $460	+0% $513	+5% $566	+10% $619
Rate	-1.0pp $560	-0.5pp $537	base $513	+0.5pp $488	+1.0pp $464

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 2nd St N Unit 2 Virginia, MN	3.0	1.0	970	$1,535	$1.58	13d	1	0.29mi

Listing history 36 events

1. 2026-06-19
   days on market $94,000 Active 75 DOM
2. 2026-06-18
   days on market $94,000 Active 74 DOM
3. 2026-06-17
   days on market $94,000 Active 73 DOM
4. 2026-06-16
   days on market $94,000 Active 72 DOM
5. 2026-06-15
   days on market $94,000 Active 71 DOM
6. 2026-06-14
   days on market $94,000 Active 69 DOM
7. 2026-06-13
   days on market $94,000 Active 68 DOM
8. 2026-06-10
   days on market $94,000 Active 66 DOM
9. 2026-06-09
   days on market $94,000 Active 65 DOM
10. 2026-06-08
    days on market $94,000 Active 64 DOM
11. 2026-06-07
    days on market $94,000 Active 63 DOM
12. 2026-06-05
    days on market $94,000 Active 60 DOM
13. 2026-06-03
    days on market $94,000 Active 59 DOM
14. 2026-06-02
    days on market $94,000 Active 58 DOM
15. 2026-06-01
    days on market $94,000 Active 57 DOM
16. 2026-05-31
    days on market $94,000 Active 56 DOM
17. 2026-05-30
    days on market $94,000 Active 55 DOM
18. 2026-05-11
    price $94,000 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

19. 2026-05-11
    price $94,000 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

20. 2026-05-11
    price $94,000

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

21. 2026-05-01
    price $99,000 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

22. 2026-04-14
    price $104,000

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

23. 2026-04-14
    price $104,000 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

24. 2026-04-14
    price $104,000 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

25. 2026-03-30
    listed $110,000 Active 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

26. 2026-03-30
    listed $110,000 Active 501-char remark

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

27. 2026-03-30
    listed $110,000 Active

    Show marketing remark (501 chars)

    Charming move in ready home in the heart of Virginia. 2 bedroom, 1 bathroom home with modern finishes. Beautifully remodeled bathroom. Sun porch and detached garage. Large basement offers lots of storage or possibility for finishing. Additionally, there is an upper floor that is unfinished - potential for another bedroom and/or bathroom! Recent updates include new wiring, plumbing, and water heater. Steam conversion completed with no loan. As an added bonus, best pizza in town is right next door!

28. 2024-03-18
    soldstatus $69,000
29. 2024-03-11
    soldstatus $69,000 Closed
30. 2024-03-11
    soldstatus $69,000
31. 2024-03-11
    soldstatus $69,000 Sold
32. 2024-02-12
    status Pending
33. 2024-02-12
    status Pending
34. 2024-02-01
    listed $69,000 Active
35. 2024-02-01
    listed $69,000
36. 2024-02-01
    listed $69,000 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: $222 · $18/mo
• Projected year-2 tax: $637 · $53/mo
• Expected delta: +$415/yr (+$35/mo · 187.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,153
• − Mortgage interest: −$5,265
• − Property taxes: −$222
• − Insurance: −$470
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$2,735
• Taxable income: $4,877
• Est. tax owed @ 24.0%: −$1,170
• After-tax cash flow: $4,983/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)

No district data.

Livability — Virginia

• Score: 63/100
• State rank: #664
• US rank: #15991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia, MN
• County: Saint Louis County · 115,152 people
• City population: 9,663
• Metro: Duluth, MN-WI
• Population (ZIP): 9,663
• Household income: $53,750
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 286.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Native American 3% Asian 1%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 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: ▼ -72.05%
• Current HPI: 199.7165
• 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

+36.2% since first listed

19 events — show timeline

• 2026-05-11 Price Changed $94,000 RAOR
• 2026-05-11 Price Changed $94,000 LSAR
• 2026-05-11 Price Changed $94,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $99,000 RAOR
• 2026-04-14 Price Changed $104,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $104,000 RAOR
• 2026-04-14 Price Changed $104,000 LSAR
• 2026-03-30 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-30 Listed $110,000 LSAR
• 2026-03-30 Listed $110,000 RAOR
• 2024-03-18 Sold (Public Records) $69,000 Public Records
• 2024-03-11 Sold (MLS) $69,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-11 Sold (MLS) $69,000 LSAR
• 2024-03-11 Sold (MLS) $69,000 RAOR
• 2024-02-12 Pending — RAOR
• 2024-02-12 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-01 Listed $69,000 RAOR
• 2024-02-01 Listed $69,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-02-01 Listed $69,000 LSAR

Property tax history

-5.6%/yr

Latest (2025): $222 · -58.3% YoY. Source: county tax records.