609 E 6th St · Duluth, MN 55805

$210,000

5 bd · 2.0 ba · 1,544 sqft · Other public records · 9 Days on market

Built 1904 3,485 sqft lot

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in East Hillside w/ duplex possibilities! Solid Licensed 5 BR with 2 kitchens/2 baths. Walking distance to hospitals & Essentia's upcoming Vision Northland development, as well as public transportation. Rented thru 5/25/2021 - current tenants paying $1300/mo + utilities. Just a couple blocks to Whole Foods grocery, nearby restaurants & local shops. BRAND NEW ROOF, newer natural gas FA furnace & water heater; plus, off-street parking. Property is in need of some repair and cosmetic improvements/finishing, but would make a great buy & hold investment property.

Key facts

• 3,485 sq ft lot
• Built 1904
• Listed 8 days

Tags

• TRADITIONAL TWO-STORY HOME
• FUNCTIONAL LIVING AREAS
• STRONG ACCESS TO EVERYTHING

Property features AI

Finance

• Other: Lot dimensions approximately 25 x 140 (0.08 acres)

Exterior

• Parking: Gravel parking; Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Two stories
• Construction: Steel siding; Asphalt shingle roof; Built with a full, partially finished basement
• Exterior features: Deck; Paved road access; City street frontage; Publicly maintained road

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on main level
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Forced air heating; Natural gas and electric heating available
• Interior features: Primary bedroom located on the main level; Wood-framed windows
• Laundry & utility: Washer; Dryer; Full basement, partially finished (additional utility/finished space)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath other listed at $210k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/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 (1.1% below list).
• Recommended offer: $208k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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: Rents rising fast (+4.3%/yr); 42 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,078/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $115k; list at $210k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $207,779 (1.1% below list)

Questions for the listing agent

1. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.99% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-16,841
• Equity at exit: $31,312

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $15,812
• Equity at exit: $18,157

Cash invested: $58,800 (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: 42
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$172 /mo · $2,064/yr
• Insurance: −$88
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $225

Break-even live

Break-even rent $1,793

Max offer price $210,000

Occupancy floor 84%

Sensitivity live

Price	-10% $344	-5% $285	+0% $225	+5% $166	+10% $106
Rent	-10% $61	-5% $143	+0% $225	+5% $307	+10% $389
Rate	-1.0pp $331	-0.5pp $279	base $225	+0.5pp $171	+1.0pp $115

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 E 6th St Duluth, MN	5.0	2.0	1850	$1,795	$0.97	21d	1	0.01mi
13 E 8th St Duluth, MN	4.0	1.5	1388	$2,000	$1.44	44d	1	0.54mi
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	14d	1	1.14mi
1821 E 1st St Duluth, MN	5.0	2.0	1662	$2,300	$1.38	14d	1	1.14mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	14d	1	1.43mi

Listing history 8 events

1. 2026-06-19
   days on market $210,000 Active 9 DOM
2. 2026-06-18
   days on market $210,000 Active 8 DOM
3. 2026-06-17
   days on market $210,000 Active 7 DOM
4. 2026-06-16
   days on market $210,000 Active 6 DOM
5. 2026-06-15
   days on market $210,000 Active 5 DOM
6. 2026-06-14
   days on market $210,000 Active 3 DOM
7. 2026-06-13
   remarks 641-char remark
8. 2026-06-13
   listed $210,000 Active 2 DOM

ⓘ 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: $2,064 · $172/mo
• Projected year-2 tax: $2,208 · $184/mo
• Expected delta: +$144/yr (+$12/mo · 7.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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: $24,933
• − Mortgage interest: −$11,763
• − Property taxes: −$2,064
• − Insurance: −$1,716
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$6,109
• Taxable loss: −$709
• Est. tax savings @ 24.0%: +$170
• After-tax cash flow: $2,872/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

+950.0% since first listed

11 events — show timeline

• 2026-06-11 Listed $210,000 LSAR
• 2026-06-08 Rental Removed $1,795 TURBOTENANT
• 2026-05-08 Listed for Rent $1,795 TURBOTENANT
• 2021-04-12 Sold (Public Records) $115,000 Public Records
• 2021-01-27 Sold (MLS) $115,000 LSAR
• 2020-10-22 Listed $107,000 LSAR
• 2006-01-26 Sold (Public Records) $78,500 Public Records
• 2004-05-07 Sold (Public Records) $60,000 Public Records
• 2003-11-17 Sold (Public Records) $51,000 Public Records
• 1999-10-05 Sold (Public Records) $47,000 Public Records
• 1999-10-05 Sold (Public Records) $20,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,064 · +10.8% YoY. Source: county tax records.