112 W 3rd Ave Ave N · Aurora, MN 55705

$58,000

2 bd · 1.0 ba · 945 sqft · SingleFamily public records · 281 Days on market

Built 1903 4,356 sqft lot $61/sqft · 50% below area

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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
• Livability +3.6/5.0
• Schools +3.2/10.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

Key facts

• Planting beds
• Great location
• Updated recently

Tags

• GREAT LOCATION
• UPDATED RECENTLY
• NEWER WINDOWS
• FENCED BACKYARD
• PLANTING BEDS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#312 in MN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Mesabi East School District (rural): math 27% / reading 47% proficiency, ranked #240 of 301 in MN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 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 $401 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $58k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $58k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.52% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.30%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $116,219
• List price: $58,000
• Delta: -50.09%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 W 3rd Ave Ave N	0.00mi	2/1.5	945 (0%)	0mo	$35,001	$37	98
207 W 1st Ave North Ave	0.17mi	2/1.5	1,006 (+6%)	22mo	$39,000	$39	61

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: 15.1%
• Equity multiple: 1.61×
• Total profit: $9,835
• Equity at exit: $8,648

10-year hold

• IRR: 23.8%
• Equity multiple: 3.05×
• Total profit: $33,360
• Equity at exit: $5,015

Cash invested: $16,240 (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 55705

• Home prices YoY: -1.8%
• Active inventory: 25
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $884 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $302

Break-even live

Break-even rent $502

Max offer price $58,000

Occupancy floor 61%

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: $14,500
• Closing costs: $1,740
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-07
   statusdays on market $58,000 Pending 281 DOM
2. 2026-06-03
   days on market $58,000 Active 280 DOM
3. 2026-06-02
   days on market $58,000 Active 279 DOM
4. 2026-06-01
   days on market $58,000 Active 278 DOM
5. 2026-05-31
   days on market $58,000 Active 277 DOM
6. 2026-05-30
   days on market $58,000 Active 276 DOM
7. 2026-05-09
   price $58,000
8. 2026-05-06
   price $58,000 561-char remark

   Show marketing remark (561 chars)

   Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

9. 2026-03-20
   status Active 561-char remark

   Show marketing remark (561 chars)

   Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

10. 2026-01-15
    status Pending 561-char remark

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

11. 2025-09-23
    price $77,000 561-char remark

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

12. 2025-09-23
    price $77,000

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

13. 2025-09-03
    price $83,810

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

14. 2025-09-03
    price $83,810 561-char remark

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

15. 2025-08-08
    price $98,600 561-char remark

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

16. 2025-08-08
    price $98,600

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

17. 2025-06-24
    listed $116,000 Active 561-char remark

    Show marketing remark (561 chars)

    Great location close to everything Aurora has to offer. Large kitchen, formal dining, and a bathroom on the main floor. Home seems to have been updated recently with newer windows, siding and gutters. There is a newer 2 car garage and a fenced backyard with some planting beds ready for plants. Buyers are responsible for all inspections (Including point of sale inspections). This inspection must be completed after the closing. Call the city for information on that as it is conflicting with who you speak with. Great home with a lot of updates for the money.

18. 2025-06-23
    listed $116,000 Active
19. 1999-06-29
    soldstatus $25,000

ⓘ 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: $818 · $68/mo
• Projected year-2 tax: $818 · $68/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 · 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: $10,607
• − Mortgage interest: −$3,249
• − Property taxes: −$818
• − Insurance: −$290
• − Repairs & maintenance: −$849
• − Management: −$849
• − Depreciation: −$1,687
• Taxable income: $2,866
• Est. tax owed @ 24.0%: −$688
• After-tax cash flow: $2,934/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: Mesabi East School District
• NCES district ID: 2791450
• Math proficiency: 27% ▼ -17.00%
• Reading proficiency: 47% ▼ -8.00%
• Median HH income: $47,546
• Composite: 31.69/100
• National rank: #5922
• State rank: #240 of 301 in MN

Livability — Aurora

• Score: 71/100
• State rank: #312
• US rank: #6901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, MN
• Population (ZIP): 3,248

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 (95%)
• Race & ethnicity: White 95% Native American 2% Two or more races 2%
• Common ancestry: Portuguese 12% Slovak 5% Iranian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Russian/Polish/Slavic 1% Spanish 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: ▼ -4.93%
• Current HPI: 266.5875
• Rent YoY: —
• Metro: —
• 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

+132.0% since first listed

13 events — show timeline

• 2026-05-09 Price Changed $58,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $58,000 LSAR
• 2026-03-20 Relisted — LSAR
• 2026-01-15 Pending — LSAR
• 2025-09-23 Price Changed $77,000 LSAR
• 2025-09-23 Price Changed $77,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $83,810 NORTHSTARMLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $83,810 LSAR
• 2025-08-08 Price Changed $98,600 LSAR
• 2025-08-08 Price Changed $98,600 NORTHSTARMLS as Distributed by MLS Grid
• 2025-06-24 Listed $116,000 LSAR
• 2025-06-23 Listed $116,000 NORTHSTARMLS as Distributed by MLS Grid
• 1999-06-29 Sold (Public Records) $25,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $818 · -20.6% YoY. Source: county tax records.