2605 E 4th Ave · Hibbing, MN 55746

$148,500

4 bd · 2.0 ba · 1,224 sqft · Other public records · 53 Days on market

Built 1940 6,098 sqft lot $121/sqft · 64% above area Est $115k · 29% over

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Why this score? — see what drove the C 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming, move-in-ready residence featuring a versatile layout. A large, welcoming front entryway/mud room leads you into the main level, which boasts a spacious living room, a formal dining room - perfect for entertaining, a well-appointed kitchen, a full bathroom, and the flexibility of one or two bedrooms. Brand new appliances include a microwave, electric range, and refrigerator. Upstairs, you'll discover a peaceful retreat. This level features two bedrooms, a very large full bathroom, and bountiful storage options. Make sure you take time to peak at the storage in the East bedroom. The soft, plush carpeting on the stairs and in all upper-level bedrooms is in great

Key facts

• Formal dining room
• Full bathroom
• Spacious living room

Tags

• FRONT ENTRYWAY MUD ROOM
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• WELL APPOINTED KITCHEN
• FULL BATHROOM
• BOUNTIFUL STORAGE OPTIONS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Frame construction; Metal siding
• Exterior features: Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Heating & cooling: Steam heating
• Interior features: Dishwasher; Dryer; Electric range; Microwave; Refrigerator; Washer
• Laundry & utility: Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $148k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 6.4% in Hibbing — 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 79/100 on livability (#103 in MN, #2,307 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Hibbing Public School District (town): math 43% / reading 54% proficiency, ranked #150 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask is 8635% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $148k implies a 395% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,045 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1940 — 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 A-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. 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: 1.20% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.89%
• DSCR: 1.53
• GRM: 7.0

CMA / ARV

• ARV (median comp): $115,029
• List price: $148,500
• Delta: 29.10%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,176
• Equity at exit: $22,142

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $35,697
• Equity at exit: $12,840

Cash invested: $41,580 (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 55746

• Home prices YoY: -18.7%
• Active inventory: 96
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$779
• Tax from tax record: −$151 /mo · $1,810/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $412

Break-even live

Break-even rent $1,255

Max offer price $148,500

Occupancy floor 72%

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: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	44d	1	1.03mi
100 Southview Dr Hibbing, MN	1.0–3.0	1.0	833	$1,072	$1.29	13d	1	1.07mi

Listing history 23 events

1. 2026-06-19
   days on market $148,500 Active 53 DOM
2. 2026-06-18
   days on market $148,500 Active 52 DOM
3. 2026-06-17
   days on market $148,500 Active 51 DOM
4. 2026-06-16
   days on market $148,500 Active 50 DOM
5. 2026-06-15
   days on market $148,500 Active 49 DOM
6. 2026-06-14
   days on market $148,500 Active 47 DOM
7. 2026-06-13
   pricedays on market $148,500 Active 46 DOM
8. 2026-06-10
   days on market $149,500 Active 44 DOM
9. 2026-06-09
   days on market $149,500 Active 43 DOM
10. 2026-06-08
    days on market $149,500 Active 42 DOM
11. 2026-06-07
    days on market $149,500 Active 41 DOM
12. 2026-06-05
    days on market $149,500 Active 38 DOM
13. 2026-06-03
    days on market $149,500 Active 37 DOM
14. 2026-06-02
    days on market $149,500 Active 36 DOM
15. 2026-06-01
    days on market $149,500 Active 35 DOM
16. 2026-05-31
    days on market $149,500 Active 34 DOM
17. 2026-05-30
    days on market $149,500 Active 33 DOM
18. 2026-05-14
    price $149,500 838-char remark
19. 2026-05-08
    listed $1,700
20. 2026-04-23
    listed $155,000 Active 838-char remark
21. 2023-10-01
    historical $1,200
22. 2023-09-19
    listed $1,200
23. 1999-10-07
    soldstatus $30,000

ⓘ 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: $1,810 · $151/mo
• Projected year-2 tax: $1,810 · $151/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 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,317
• − Mortgage interest: −$8,318
• − Property taxes: −$1,810
• − Insurance: −$742
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$4,320
• Taxable income: $2,715
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $4,291/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: Hibbing Public School District
• NCES district ID: 2713980
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 54% ▼ -13.00%
• Median HH income: $41,666
• Composite: 40.7/100
• National rank: #3667
• State rank: #150 of 301 in MN

Livability — Hibbing

• Score: 79/100
• State rank: #103
• US rank: #2307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hibbing, MN
• County: Saint Louis County · 115,152 people
• City population: 16,730
• Metro: Duluth, MN-WI
• Population (ZIP): 16,730
• Household income: $55,823
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 623.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 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: ▼ -50.85%
• Current HPI: 220.7198
• 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

+395.0% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $148,500 RAOR
• 2026-05-24 Rental Removed $1,700 BUILDIUM
• 2026-05-24 Relisted — RAOR
• 2026-05-20 Delisted — RAOR
• 2026-05-14 Price Changed $149,500 RAOR
• 2026-05-08 Listed for Rent $1,700 BUILDIUM
• 2026-04-23 Listed $155,000 RAOR
• 2023-10-01 Rental Removed $1,200 BUILDIUM
• 2023-09-19 Listed for Rent $1,200 BUILDIUM
• 1999-10-07 Sold (Public Records) $30,000 Public Records

Property tax history

+20.7%/yr

Latest (2026): $1,810 · +14.8% YoY. Source: county tax records.