925 Grant Ave · Eveleth, MN 55734

$63,200

3 bd · 1.0 ba · 1,355 sqft · SingleFamily public records · 56 Days on market

Built 1900 4,792 sqft lot Est $122k · 48% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Eveleth. This home offers 3 upper-level bedrooms, with a main floor featuring the living room, dining room, kitchen, and full bath. Newer furnace already in place. Property is ideal for investors or buyers looking to build equity with updates and improvements.

Key facts

• Newer furnace
• 4,792 sq ft lot
• Built 1900

Tags

• NEWER FURNACE

Property features AI

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Wood siding; Built with block basement
• Exterior features: Enclosed porch; No fencing; Asphalt roof

Interior

• Kitchen: Electric range; Refrigerator
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Full block basement; Porch (enclosed)
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $61k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 7.0% in Eveleth — 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 66/100 on livability (#506 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, health & safety D.
• Market conditions: 42 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 $437 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,304 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1900 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.26% ✓
• Cap rate: 20.39%
• Cash-on-cash: 50.33%
• DSCR: 3.24
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $121,950
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 Douglas Ave	0.03mi	3/1.2	1,396 (+3%)	11mo	$160,000	$115	84
810 Adams Ave	0.12mi	4/1.2 (+1)	1,440 (+6%)	10mo	$120,000	$83	70
1008 Douglas Ave	0.07mi	2/2.0 (-1)	1,518 (+12%)	0mo	$169,900	$112	68
919 Adams Ave	0.07mi	3/1.0	1,198 (-12%)	14mo	$14,250	$12	65
521 Jackson St	0.31mi	3/2.0	1,260 (-7%)	7mo	$80,000	$63	64
621 Summit St	0.22mi	3/2.0	1,447 (+7%)	14mo	$130,000	$90	63
711 Grant Ave	0.11mi	2/2.0 (-1)	1,414 (+4%)	19mo	$171,900	$122	62
606 Cleveland St	0.21mi	3/1.0	1,197 (-12%)	22mo	$77,000	$64	53
107 Roosevelt Ave	0.59mi	3/1.5	1,196 (-12%)	6mo	$133,000	$111	46
905 Washington St	0.48mi	3/3.0	1,536 (+13%)	4mo	$135,000	$88	44
107 N Auburn Ave	0.70mi	3/2.0	1,550 (+14%)	19mo	$229,000	$148	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: 48.1%
• Equity multiple: 3.09×
• Total profit: $37,023
• Equity at exit: $9,423

10-year hold

• IRR: 53.7%
• Equity multiple: 6.26×
• Total profit: $93,076
• Equity at exit: $5,464

Cash invested: $17,696 (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 55734

• Home prices YoY: -29.1%
• Active inventory: 42
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,431 medium
• Mortgage (P&I): −$331
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $742

Break-even live

Break-even rent $491

Max offer price $63,200

Occupancy floor 43%

Sensitivity live

Price	-10% $778	-5% $760	+0% $742	+5% $724	+10% $706
Rent	-10% $629	-5% $686	+0% $742	+5% $799	+10% $855
Rate	-1.0pp $774	-0.5pp $758	base $742	+0.5pp $726	+1.0pp $709

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: $15,800
• Closing costs: $1,896
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $63,200 Active 56 DOM
2. 2026-06-18
   days on market $63,200 Active 55 DOM
3. 2026-06-17
   days on market $63,200 Active 54 DOM
4. 2026-06-16
   days on market $63,200 Active 53 DOM
5. 2026-06-15
   days on market $63,200 Active 52 DOM
6. 2026-06-14
   days on market $63,200 Active 50 DOM
7. 2026-06-13
   days on market $63,200 Active 49 DOM
8. 2026-06-10
   days on market $63,200 Active 47 DOM
9. 2026-06-09
   days on market $63,200 Active 46 DOM
10. 2026-06-08
    days on market $63,200 Active 45 DOM
11. 2026-06-07
    days on market $63,200 Active 44 DOM
12. 2026-06-05
    days on market $63,200 Active 41 DOM
13. 2026-06-03
    days on market $63,200 Active 40 DOM
14. 2026-06-02
    days on market $63,200 Active 39 DOM
15. 2026-06-01
    days on market $63,200 Active 38 DOM
16. 2026-05-31
    days on market $63,200 Active 37 DOM
17. 2026-05-30
    days on market $63,200 Active 36 DOM
18. 2026-04-24
    listed $63,200 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: $362 · $30/mo
• Projected year-2 tax: $535 · $45/mo
• Expected delta: +$173/yr (+$14/mo · 47.8%)

ⓘ 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 5/10 Major
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,167
• − Mortgage interest: −$3,540
• − Property taxes: −$362
• − Insurance: −$316
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$1,839
• Taxable income: $8,363
• Est. tax owed @ 24.0%: −$2,007
• After-tax cash flow: $6,899/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 — Eveleth

• Score: 66/100
• State rank: #506
• US rank: #12213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eveleth, MN
• Population (ZIP): 6,332

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 1% Native American 1%
• Common ancestry: Portuguese 13% Romanian 3% Lithuanian 3%
• Foreign-born: 2%
• Languages at home: 97% English-only · Russian/Polish/Slavic 2%

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: ▼ -85.98%
• Current HPI: 209.7614
• 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

1 event — show timeline

• 2026-04-24 Listed $63,200 RAOR

Property tax history

+12.0%/yr

Latest (2025): $362 · -12.1% YoY. Source: county tax records.