1118 E 6th St · Duluth, MN 55805

$235,000

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 4 Days on market

Built 1914 3,485 sqft lot Est $249k · 6% under

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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 +12.9/30.0
• ARV discount +10.1/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• Rent growth +3.6/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 4-bedroom, 2-bath traditional in the desirable Chester Park neighborhood! This home features beautiful hardwood floors throughout and a bright, open living and dining room. The spacious kitchen offers abundant storage, ample counter space, and access to a deck with views of Lake Superior. Upstairs you’ll find all four bedrooms along with a full bath highlighted by a skylight. A walk-up attic provides excellent storage or future finishing potential. The lower level includes a 3/4 bath and sauna. Enjoy the inviting open front porch, plus plenty of off-street parking with room to build a garage. A classic home in a fantastic location!

Key facts

• Deck with views
• Spacious kitchen
• Abundant storage

Tags

• HARDWOOD FLOORS
• OPEN LIVING AND DINING ROOM
• SPACIOUS KITCHEN
• ABUNDANT STORAGE
• DECK WITH VIEWS
• WALK-UP ATTIC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-17 ($-202/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (18.5% below list).
• Recommended offer: $192k (18.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Duluth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Myers-Wilkins Elementary (math 17% / reading 37%, grade F, #703 of 857 statewide, top 84%, 341 students, 88% FRL); Ordean East Middle School (math 45% / reading 61%, grade C+, #53 of 258 statewide, top 22%, 989 students, 26% FRL); East High School (math 42% / reading 73%, grade C, #59 of 471 statewide, top 13%, 1,494 students, 23% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 41 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $1,916/mo this rent would consume 53% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,602 (18.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1914 — 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 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. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $249,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1118 E 6th St	0.00mi	4/2.0 (+1)	1,481 (+5%)	2mo	$260,500	$176	81
723 N 10th Ave Ave E	0.20mi	4/2.0 (+1)	1,399 (-1%)	8mo	$215,000	$154	74
1015 N 11th Ave E	0.33mi	3/1.0	1,500 (+6%)	5mo	$237,500	$158	69
526 N 12 1/2 Ave E	0.09mi	3/0.5	1,604 (+14%)	4mo	$199,900	$125	67
701 E 11th St	0.54mi	3/1.0	1,296 (-8%)	2mo	$139,900	$108	60
1721 E 8th St	0.56mi	3/1.0	1,484 (+5%)	8mo	$300,000	$202	58
1022 E 11th St	0.36mi	2/2.0 (-1)	1,497 (+6%)	8mo	$265,000	$177	57
1915 E 9th St	0.74mi	3/1.5	1,428 (+1%)	7mo	$324,900	$228	56
1230 N 7th Ave E	0.61mi	3/2.0	1,229 (-13%)	1mo	$276,000	$225	46
1516 N 8th Ave Ave E	0.69mi	2/2.0 (-1)	1,575 (+12%)	1mo	$323,000	$205	38
1107 N 7th Ave Ave E	0.56mi	4/2.0 (+1)	1,196 (-15%)	5mo	$185,000	$155	36
928 N 19th Ave Ave E	0.73mi	3/1.0	1,196 (-15%)	7mo	$259,000	$217	35

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.44×
• Total profit: $-36,561
• Equity at exit: $35,039

10-year hold

• IRR: -4.9%
• Equity multiple: 0.66×
• Total profit: $-22,291
• Equity at exit: $20,319

Cash invested: $65,800 (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: 41
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,916 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$200 /mo · $2,402/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-17

Break-even live

Break-even rent $1,937

Max offer price $232,033

Occupancy floor 96%

Sensitivity live

Price	-10% $116	-5% $50	+0% $-17	+5% $-83	+10% $-150
Rent	-10% $-168	-5% $-92	+0% $-17	+5% $59	+10% $135
Rate	-1.0pp $102	-0.5pp $43	base $-17	+0.5pp $-78	+1.0pp $-140

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 N 13th Ave E Duluth, MN	3.0	1.0	1248	$1,900	$1.52	15d	1	0.15mi
825 N 10th Ave E Duluth, MN	3.0	1.0	1120	$1,800	$1.61	45d	1	0.27mi
916 E 3rd St Duluth, MN	2.0	1.0	1325	$1,750	$1.32	15d	1	0.30mi
1425 E 2nd St Fl , 1 Duluth, MN	2.0	1.0	1100	$1,450	$1.32	45d	1	0.37mi
425 E 5th St Duluth, MN	3.0	1.0	1124	$1,995	$1.77	45d	1	0.62mi
333 E Superior St Duluth, MN	2.0	1.0–2.0	1154	$5,822	$5.05	15d	96	0.80mi
311 E Superior St #902 Duluth, MN	2.0	2.0	1500	$3,995	$2.66	45d	1	0.83mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	15d	1	0.97mi
13 E 8th St Duluth, MN	4.0	1.5	1388	$2,000	$1.44	45d	1	1.01mi
2120 London Rd Duluth, MN	2.0	1.0–2.0	1086	$4,111	$3.78	15d	13	1.06mi
513 N 1st Ave W Unit 509 Duluth, MN	2.0	1.0	1300	$1,355	$1.04	45d	1	1.14mi
333 N 1st Ave W Apt 3130 Duluth, MN	2.0	2.0	995	$1,830	$1.84	15d	1	1.16mi
502 N Oak Bend Dr Duluth, MN	1.0–2.0	1.0	857	$1,549	$1.81	15d	1	1.38mi
1515 Kenwood Ave Duluth, MN	3.0	2.0	1201	$2,350	$1.96	15d	1	1.46mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-24
   listed $235,000 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: $2,402 · $200/mo
• Projected year-2 tax: $2,517 · $210/mo
• Expected delta: +$115/yr (+$10/mo · 4.8%)

ⓘ 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 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: $22,992
• − Mortgage interest: −$13,164
• − Property taxes: −$2,402
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$6,836
• Taxable loss: −$4,264
• Est. tax savings @ 24.0%: +$1,023
• After-tax cash flow: $822/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

2 events — show timeline

• 2026-04-27 Pending — LSAR
• 2026-04-24 Listed $235,000 LSAR

Property tax history

+5.6%/yr

Latest (2025): $2,402 · +9.0% YoY. Source: county tax records.