409 E 6th St · Duluth, MN 55805

$169,900

4 bd · 1.0 ba · 994 sqft · SingleFamily public records · 100 Days on market

Built 1891 3,484 sqft lot $171/sqft · 15% above area Est $178k · at est.

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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 +25.5/30.0
• ARV discount +9.5/15.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

Key facts

• Manageable yard
• Residential setting
• 3,484 sq ft lot

Tags

• CENTRAL HILLSIDE NEIGHBORHOOD
• TWO BLOCKS FROM BUS LINE
• MANAGEABLE YARD
• RESIDENTIAL SETTING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Rents rising fast (+4.3%/yr); 41 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $1,968/mo this rent would consume 55% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $170k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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. 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?
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: 1.16% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (median comp): $177,901
• List price: $169,900
• Delta: -4.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 E 8th St	0.13mi	3/1.0 (-1)	950 (-4%)	14mo	$155,000	$163	70
505 E 6th St	0.08mi	3/1.0 (-1)	1,140 (+15%)	6mo	$219,000	$192	62
907 E 8th St	0.46mi	3/1.0 (-1)	1,043 (+5%)	17mo	$210,000	$201	52
1210 N 8th Ave Ave E	0.54mi	4/1.0	1,112 (+12%)	7mo	$207,200	$186	49
1125 N 7th Ave Ave E	0.44mi	3/1.5 (-1)	1,133 (+14%)	3mo	$260,000	$229	47
914 E 6th St	0.45mi	3/1.0 (-1)	1,115 (+12%)	14mo	$155,000	$139	42
102 E 11th St	0.42mi	3/2.0 (-1)	1,131 (+14%)	9mo	$281,000	$248	41
825 N 10th Ave E	0.52mi	3/1.0 (-1)	1,120 (+13%)	13mo	$216,000	$193	39
909 E 8th St	0.46mi	3/2.0 (-1)	1,121 (+13%)	13mo	$185,000	$165	37
819 N 10th Ave Ave E	0.52mi	3/2.0 (-1)	1,120 (+13%)	12mo	$137,000	$122	36
510 N 12th Ave Ave E	0.70mi	3/1.0 (-1)	1,120 (+13%)	7mo	$115,200	$103	36

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $407
• Equity at exit: $25,333

10-year hold

• IRR: 11.2%
• Equity multiple: 1.93×
• Total profit: $44,262
• Equity at exit: $14,690

Cash invested: $47,572 (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 55805

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 41
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,968 high
• Mortgage (P&I): −$891
• Tax from tax record: −$197 /mo · $2,362/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $396

Break-even live

Break-even rent $1,467

Max offer price $169,900

Occupancy floor 75%

Sensitivity live

Price	-10% $492	-5% $444	+0% $396	+5% $348	+10% $300
Rent	-10% $241	-5% $318	+0% $396	+5% $474	+10% $552
Rate	-1.0pp $482	-0.5pp $439	base $396	+0.5pp $352	+1.0pp $307

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
423 E 5th St Duluth, MN	3.0	1.0	850	$1,295	$1.52	14d	1	0.09mi
425 E 5th St Duluth, MN	3.0	1.0	1124	$1,995	$1.77	45d	1	0.10mi
825 N 10th Ave E Duluth, MN	3.0	1.0	1120	$1,800	$1.61	45d	1	0.55mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	22d	7	0.85mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	14d	1	0.85mi

Listing history 15 events

1. 2026-05-18
   status Pending 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

2. 2026-05-12
   historical Contingent - Inspection 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

3. 2026-05-02
   historical 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

4. 2026-03-16
   price $169,900 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

5. 2026-03-07
   price $169,900 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

6. 2026-01-29
   listed $179,900 Active 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

7. 2026-01-29
   listed $179,900 Active 846-char remark

   Show marketing remark (846 chars)

   This home offers an excellent blend of classic Duluth charm and smart investment potential in the Central Hillside neighborhood. This 4 bedroom, 1 bath home features approximately 994 sq ft on an efficient, easy-to-manage footprint. Inside, the layout makes the most of every square foot, with a practical main living area, functional kitchen, and comfortable bedrooms that work well for roommates, a family, or visiting guests. The property has a strong history as a student rental and sits just two blocks from a bus line to UMD, making it especially appealing for off-campus housing. The manageable yard and residential setting add to everyday livability while keeping maintenance straightforward. Whether you’re expanding your portfolio or seeking an affordable Duluth home in a convenient in-town location, is a compelling opportunity.

8. 2025-02-23
   historical $1,640
9. 2025-02-22
   historical $1,640
10. 2025-02-11
    price $1,640
11. 2025-02-11
    price $1,640
12. 2025-01-15
    listed $1,680
13. 2025-01-15
    listed $1,680
14. 2005-09-08
    soldstatus $84,975
15. 2003-04-09
    soldstatus $66,300

ⓘ 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: $2,362 · $197/mo
• Projected year-2 tax: $2,362 · $197/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 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: $23,616
• − Mortgage interest: −$9,517
• − Property taxes: −$2,362
• − Insurance: −$850
• − Repairs & maintenance: −$1,889
• − Management: −$1,889
• − Depreciation: −$4,943
• Taxable income: $2,166
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $4,234/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

+156.3% since first listed

15 events — show timeline

• 2026-05-18 Pending — LSAR
• 2026-05-12 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-02 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $169,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-03-07 Price Changed $169,900 LSAR
• 2026-01-29 Listed $179,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-01-29 Listed $179,900 LSAR
• 2025-02-23 Rental Removed $1,640 SHOWMOJO
• 2025-02-22 Rental Removed $1,640 RENT.
• 2025-02-11 Price Changed $1,640 SHOWMOJO
• 2025-02-11 Price Changed $1,640 RENT.
• 2025-01-15 Listed for Rent $1,680 SHOWMOJO
• 2025-01-15 Listed for Rent $1,680 RENT.
• 2005-09-08 Sold (Public Records) $84,975 Public Records
• 2003-04-09 Sold (Public Records) $66,300 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,362 · +11.2% YoY. Source: county tax records.