17 E Parkway St · Virginia, MN 55792

$39,900

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 4 Days on market

Built 1949 5,227 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

WHY RENT? COZY 2+ BEDROOM HOME LOCATED IN MIDWAY WITH MANY UPDATES. THIS 1 1/4 STORY HOME HAS TANDUM BEDROOMS ON THE UPPER LEVEL, A SPACIOUS EAT IN KITCHEN AND UPDATED BATH AND 1 STALL ATTACHED GARAGE. A MUST SEE

Key facts

• Attached garage
• Kitchen renovation
• Hardwood floors

Tags

• HARDWOOD FLOORS
• ATTACHED GARAGE
• KITCHEN RENOVATION

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story
• Construction: Frame construction with aluminum siding
• Exterior features: Shingle roof; Lot approximately 130 x 60 (0.12 acre)

Interior

• Heating & cooling: Natural gas heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 21.6% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.63% ✓
• Cap rate: 21.63%
• Cash-on-cash: 54.79%
• DSCR: 3.44
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $151,392
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27 Cuyuna Dr	0.08mi	2/1.0	936 (+3%)	1mo	$102,500	$110	91
35 Cuyuna Dr	0.06mi	2/1.5	914 (+0%)	19mo	$154,000	$168	79
20 Merritt Dr	0.19mi	3/1.0 (+1)	975 (+7%)	24mo	$99,900	$102	54
78 Vermillion Dr	0.31mi	3/1.0 (+1)	1,025 (+12%)	9mo	$169,900	$166	52

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: 53.1%
• Equity multiple: 3.33×
• Total profit: $26,063
• Equity at exit: $5,949

10-year hold

• IRR: 58.3%
• Equity multiple: 6.79×
• Total profit: $64,698
• Equity at exit: $3,450

Cash invested: $11,172 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,049 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $510

Break-even live

Break-even rent $403

Max offer price $39,900

Occupancy floor 46%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 S 2nd Ave W Unit 1 Virginia, MN	2.0	1.0	600	$1,100	$1.83	43d	1	1.47mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $39,900 Pending 4 DOM
2. 2026-06-05
   days on market $39,900 Active 3 DOM
3. 2026-06-03
   days on market $39,900 Active 2 DOM
4. 2026-06-02
   remarks 594-char remark
5. 2026-06-02
   listed $39,900 Active 1 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: $1,114 · $93/mo
• Projected year-2 tax: $1,114 · $93/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $12,589
• − Mortgage interest: −$2,235
• − Property taxes: −$1,114
• − Insurance: −$200
• − Repairs & maintenance: −$1,007
• − Management: −$1,007
• − Depreciation: −$1,161
• Taxable income: $5,865
• Est. tax owed @ 24.0%: −$1,408
• After-tax cash flow: $4,713/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

+14.0% since first listed

5 events — show timeline

• 2026-06-01 Listed $39,900 RAOR
• 2020-11-17 Sold (Public Records) $69,000 Public Records
• 2013-02-14 Sold (Public Records) $35,000 Public Records
• 2013-01-18 Sold (MLS) $35,000 RAOR
• 2012-10-24 Listed $35,000 RAOR

Property tax history

+17.4%/yr

Latest (2025): $1,114 · -4.9% YoY. Source: county tax records.