205 10th St S · Virginia, MN 55792

$179,900

3 bd · 5.0 ba · 3,616 sqft · MultiFamily public records · 73 Days on market

Built 1902 0.28 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

Key facts

• Historic location
• Steam conversion
• Investment property

Tags

• HISTORIC LOCATION
• INVESTMENT PROPERTY
• STEAM CONVERSION

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property — quadruplex / fourplex
• Construction: Frame construction with metal and wood siding
• Exterior features: Asphalt shingle roof; Lot dimensions approximately 120 x 100

Interior

• Heating & cooling: Natural gas heating; Hot water heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive. Per door: $374/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,309/mo this rent would consume 52% of the median local household income ($54k/yr) (locally 286% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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 $145k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.81%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.3%
• Equity multiple: 1.36×
• Total profit: $18,383
• Equity at exit: $26,824

10-year hold

• IRR: 18.4%
• Equity multiple: 2.53×
• Total profit: $77,030
• Equity at exit: $15,554

Cash invested: $50,372 (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: 13.0×

Monthly cashflow live

• Estimated rent: $2,309 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $747

Break-even live

Break-even rent $1,363

Max offer price $179,900

Occupancy floor 63%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,310
Total (2 units)			$2,309

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $179,900 Active 73 DOM
2. 2026-06-18
   days on market $179,900 Active 72 DOM
3. 2026-06-17
   days on market $179,900 Active 71 DOM
4. 2026-06-16
   days on market $179,900 Active 70 DOM
5. 2026-06-15
   days on market $179,900 Active 69 DOM
6. 2026-06-14
   days on market $179,900 Active 67 DOM
7. 2026-06-13
   days on market $179,900 Active 66 DOM
8. 2026-06-10
   days on market $179,900 Active 64 DOM
9. 2026-06-09
   days on market $179,900 Active 63 DOM
10. 2026-06-08
    days on market $179,900 Active 62 DOM
11. 2026-06-07
    days on market $179,900 Active 61 DOM
12. 2026-06-05
    days on market $179,900 Active 58 DOM
13. 2026-06-03
    days on market $179,900 Active 57 DOM
14. 2026-06-02
    days on market $179,900 Active 56 DOM
15. 2026-06-01
    days on market $179,900 Active 55 DOM
16. 2026-05-31
    days on market $179,900 Active 54 DOM
17. 2026-05-30
    days on market $179,900 Active 53 DOM
18. 2026-04-08
    listed $179,900 Active
19. 2025-09-19
    soldstatus $145,000
20. 2025-08-22
    soldstatus $145,000 Closed 839-char remark

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

21. 2025-08-22
    soldstatus $145,000 Sold 839-char remark

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

22. 2025-08-22
    soldstatus $145,000 Closed

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

23. 2025-08-22
    soldstatus $145,000 Closed

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

24. 2025-08-07
    status Pending 839-char remark

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

25. 2025-08-07
    status Pending

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

26. 2025-08-07
    status Pending

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

27. 2025-07-16
    listed $159,900 Active

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

28. 2025-07-16
    listed $159,900 Active

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

29. 2025-07-16
    listed $159,900 Active 839-char remark

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

30. 2025-07-16
    listed $159,900 Active 839-char remark

    Show marketing remark (839 chars)

    Prime Downtown Virginia Investment Opportunity! This versatile 3-bedroom home offers exceptional rental income potential with a fully developed lower level featuring 2 studio apartments and 1 one-bedroom unit. Property includes 3-stall garage, fenced yard, and additional off-street parking - perfect for multi-tenant living. Whether you're seeking a primary residence with rental income or an almost turnkey investment property, this downtown location provides walkability to amenities while generating multiple revenue streams. The separate lower-level units offer privacy and independence for tenants. Ideal for investors, multi-generational families, or owner-occupants looking to offset mortgage costs. Don't miss this rare opportunity to own income-producing real estate in the heart of Virginia's downtown district. Call for a tour!

31. 2014-01-03
    soldstatus $55,000
32. 2013-12-23
    soldstatus $55,000
33. 2013-10-02
    listed $59,900

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$657/yr (+$55/mo · 93.9%)

ⓘ 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 4/10 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: $27,708
• − Mortgage interest: −$10,077
• − Property taxes: −$700
• − Insurance: −$900
• − Repairs & maintenance: −$2,217
• − Management: −$2,217
• − Depreciation: −$5,233
• Taxable income: $6,365
• Est. tax owed @ 24.0%: −$1,527
• After-tax cash flow: $7,441/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

+200.3% since first listed

16 events — show timeline

• 2026-04-08 Listed $179,900 RAOR
• 2025-09-19 Sold (Public Records) $145,000 Public Records
• 2025-08-22 Sold (MLS) $145,000 RAOR
• 2025-08-22 Sold (MLS) $145,000 RAOR
• 2025-08-22 Sold (MLS) $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-22 Sold (MLS) $145,000 LSAR
• 2025-08-07 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2025-08-07 Pending — RAOR
• 2025-08-07 Pending — RAOR
• 2025-07-16 Listed $159,900 RAOR
• 2025-07-16 Listed $159,900 RAOR
• 2025-07-16 Listed $159,900 LSAR
• 2025-07-16 Listed $159,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-01-03 Sold (Public Records) $55,000 Public Records
• 2013-12-23 Sold (MLS) $55,000 RAOR
• 2013-10-02 Listed $59,900 RAOR

Property tax history

-0.5%/yr

Latest (2025): $700 · -38.7% YoY. Source: county tax records.