305 N 18 1/2 Ave W · Duluth, MN 55806

$219,900

3 bd · 2.0 ba · 1,289 sqft · SingleFamily public records · 21 Days on market

Built 1888 2,178 sqft lot $171/sqft · 67% above area Est $212k · 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 +19.2/30.0
• DSCR +6.1/10.0
• ARV discount +5.8/15.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perched on Goat Hill with sweeping city views and direct access to hiking and mountain biking trails right out your front door, this move-in ready home offers the best of both comfort and location. This well-maintained 3-bedroom, 2-bathroom property features a spacious main level with a living room, kitchen, formal dining room, family room, and a half bathroom. Just off the family room, a newly updated deck provides the perfect spot to relax while overlooking the backyard and city. Upstairs, the second floor includes two bedrooms and a full bathroom, while the third floor offers a private additional bedroom—great for guests, an office, or a retreat space. The backyard is designed for both enjoyment and entertaining, complete with scenic views and a cozy fire pit. Outdoor enthusiasts will love the immediate access to nearby trails, including the Enger–Duluth Traverse and the Superior Hiking Trail, just steps from your door. Don’t miss the opportunity to own this exceptional home!

Key facts

• City views
• Cozy fire pit
• Newly updated deck

Tags

• CITY VIEWS
• NEWLY UPDATED DECK
• COZY FIRE PIT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $237 ($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 $209k (5.2% below list).
• Recommended offer: $209k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: 44 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $2,085/mo this rent would consume 58% of the median local household income ($43k/yr) (locally 506% 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

• It's been on market 21 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $136k; list at $220k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,534 (5.2% below list)

Questions for the listing agent

1. Built in 1888 — 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: 0.95% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.63%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $212,109
• List price: $219,900
• Delta: 3.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 N 22nd Ave Ave W	0.34mi	3/2.0	1,248 (-3%)	1mo	$131,000	$105	78
314 N 19th Ave W	0.02mi	3/1.0	1,208 (-6%)	9mo	$182,000	$151	77
2203 W 2nd St	0.33mi	3/1.0	1,326 (+3%)	6mo	$150,000	$113	71
2208 W 8th St	0.44mi	2/2.0 (-1)	1,348 (+5%)	0mo	$205,000	$152	67
2131 W 6th St	0.34mi	3/1.5	1,323 (+3%)	13mo	$215,000	$163	66
2326 W 2nd St	0.47mi	3/1.0	1,352 (+5%)	0mo	$180,000	$133	66
2629 W 2nd St	0.73mi	3/1.5	1,292 (+0%)	0mo	$110,000	$85	63
2229 W 7th St	0.45mi	3/1.0	1,209 (-6%)	3mo	$177,500	$147	62
1721 W 2nd St	0.13mi	2/1.5 (-1)	1,164 (-10%)	12mo	$230,000	$198	61
2626 W 5th St	0.72mi	3/1.5	1,336 (+4%)	11mo	$209,000	$156	49
30 N 25th Ave Ave W	0.58mi	3/1.0	1,453 (+13%)	7mo	$165,000	$114	42
1015 W 6th St	0.74mi	2/1.0 (-1)	1,395 (+8%)	10mo	$250,000	$179	34

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: -9.1%
• Equity multiple: 0.67×
• Total profit: $-20,546
• Equity at exit: $32,788

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,436
• Equity at exit: $19,013

Cash invested: $61,572 (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 55806

• Active inventory: 44
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$165 /mo · $1,982/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $237

Break-even live

Break-even rent $1,785

Max offer price $219,900

Occupancy floor 84%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 W Superior St Duluth, MN	2.0	1.0–2.0	670	$1,844	$2.75	13d	12	0.30mi
1302 W 1st St Apt 1 Duluth, MN	2.0	1.0	942	$1,275	$1.35	43d	1	0.49mi
1302 W 1st St Apt 2 Duluth, MN	2.0	1.0	942	$1,300	$1.38	43d	1	0.49mi
1115 W Michigan St Duluth, MN	2.0	1.0	600	$1,395	$2.33	43d	3	0.66mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	13d	1	1.18mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	21d	7	1.18mi
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	43d	1	1.25mi

Listing history 19 events

1. 2026-05-10
   status Pending 1011-char remark

   Show marketing remark (1011 chars)

   Perched on Goat Hill with sweeping city views and direct access to hiking and mountain biking trails right out your front door, this move-in ready home offers the best of both comfort and location. This well-maintained 3-bedroom, 2-bathroom property features a spacious main level with a living room, kitchen, formal dining room, family room, and a half bathroom. Just off the family room, a newly updated deck provides the perfect spot to relax while overlooking the backyard and city. Upstairs, the second floor includes two bedrooms and a full bathroom, while the third floor offers a private additional bedroom—great for guests, an office, or a retreat space. The backyard is designed for both enjoyment and entertaining, complete with scenic views and a cozy fire pit. Outdoor enthusiasts will love the immediate access to nearby trails, including the Enger–Duluth Traverse and the Superior Hiking Trail, just steps from your door. Don’t miss the opportunity to own this exceptional home!

2. 2026-04-18
   listed $219,900 Active 1011-char remark

   Show marketing remark (1011 chars)

   Perched on Goat Hill with sweeping city views and direct access to hiking and mountain biking trails right out your front door, this move-in ready home offers the best of both comfort and location. This well-maintained 3-bedroom, 2-bathroom property features a spacious main level with a living room, kitchen, formal dining room, family room, and a half bathroom. Just off the family room, a newly updated deck provides the perfect spot to relax while overlooking the backyard and city. Upstairs, the second floor includes two bedrooms and a full bathroom, while the third floor offers a private additional bedroom—great for guests, an office, or a retreat space. The backyard is designed for both enjoyment and entertaining, complete with scenic views and a cozy fire pit. Outdoor enthusiasts will love the immediate access to nearby trails, including the Enger–Duluth Traverse and the Superior Hiking Trail, just steps from your door. Don’t miss the opportunity to own this exceptional home!

3. 2021-08-16
   soldstatus $135,500
4. 2021-06-25
   soldstatus $135,500 380-char remark

   Show marketing remark (380 chars)

   Inside this move-in ready home you can find main floor laundry, a spacious living and dining area, vinyl windows, as well as 3 spacious bedrooms! This property is located on a quiet dead end road with easy access to the mall and hwy 35. You will also find amazing views of the Bay and Lake Superior from your backyard or deck off the back of the home! Set up a time to see it now!

5. 2021-05-13
   listed $114,900 380-char remark

   Show marketing remark (380 chars)

   Inside this move-in ready home you can find main floor laundry, a spacious living and dining area, vinyl windows, as well as 3 spacious bedrooms! This property is located on a quiet dead end road with easy access to the mall and hwy 35. You will also find amazing views of the Bay and Lake Superior from your backyard or deck off the back of the home! Set up a time to see it now!

6. 2018-03-07
   soldstatus $77,000
7. 2018-03-06
   soldstatus $77,000
8. 2017-11-10
   listed $84,900
9. 2014-10-22
   soldstatus $23,500
10. 2014-10-22
    soldstatus $23,500
11. 2014-10-22
    soldstatus $23,500 Sold
12. 2014-10-20
    status Pending
13. 2014-10-10
    historical Contingent - Inspection
14. 2014-09-26
    price $24,900
15. 2014-09-11
    price $34,900
16. 2014-08-12
    listed $39,900 Active
17. 2014-08-08
    listed $24,900
18. 2014-08-08
    listed $24,900
19. 2008-08-27
    soldstatus $89,000

ⓘ 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: $1,982 · $165/mo
• Projected year-2 tax: $2,222 · $185/mo
• Expected delta: +$240/yr (+$20/mo · 12.1%)

ⓘ 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 ≥92°F today · 12 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: $25,024
• − Mortgage interest: −$12,318
• − Property taxes: −$1,982
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$6,397
• Taxable loss: −$776
• Est. tax savings @ 24.0%: +$186
• After-tax cash flow: $3,036/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): 9,356
• Household income: $42,833
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 506.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 7% Black 7% Native American 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 10% Romanian 5% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% Chinese 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: ▼ -122.85%
• Current HPI: 195.9805
• 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

+147.1% since first listed

19 events — show timeline

• 2026-05-10 Pending — LSAR
• 2026-04-18 Listed $219,900 LSAR
• 2021-08-16 Sold (Public Records) $135,500 Public Records
• 2021-06-25 Sold (MLS) $135,500 LSAR
• 2021-05-13 Listed $114,900 LSAR
• 2018-03-07 Sold (Public Records) $77,000 Public Records
• 2018-03-06 Sold (MLS) $77,000 LSAR
• 2017-11-10 Listed $84,900 LSAR
• 2014-10-22 Sold (MLS) $23,500 RASM
• 2014-10-22 Sold (MLS) $23,500 LSAR
• 2014-10-22 Sold (MLS) $23,500 NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2014-10-10 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-26 Price Changed $24,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-09-11 Price Changed $34,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-12 Listed $39,900 NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-08 Listed $24,900 RASM
• 2014-08-08 Listed $24,900 LSAR
• 2008-08-27 Sold (Public Records) $89,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,982 · +4.4% YoY. Source: county tax records.