119 8th St S · Virginia, MN 55792

$35,000

4 bd · 2.0 ba · 1,400 sqft · Other public records · 277 Days on market

Built 1912 3,000 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

MOTIVATED SELLER! BRING AN OFFER! Your summer project awaits with this duplex that's had some updates done to it but is ready for someone to take over the rest. The first floor unit needs some TLC and the upstairs unit it ready to start from scratch. This duplex features beautiful hardwood flooring, door handles, and dark wood door framing.

Key facts

• Hardwood flooring
• Door handles
• 3,000 sq ft lot

Tags

• HARDWOOD FLOORING
• DOOR HANDLES
• DARK WOOD DOOR FRAMING

Property features AI

Finance

• Financial info: Annual taxes listed

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Zoned R
• Construction: Frame construction; Wood siding
• Exterior features: Asphalt roof

Interior

• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $35k.

Deal economics

• At list price, monthly cash flow is $957 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 39.1% vs local median 7.6% 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: 65 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).
• This rent runs 35% of the median local income ($54k/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 $242 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 3.3% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.53% ✓
• Cap rate: 39.10%
• Cash-on-cash: 117.18%
• DSCR: 6.21
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.65×
• Total profit: $55,337
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 13.95×
• Total profit: $126,903
• Equity at exit: $3,026

Cash invested: $9,800 (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 55792

• Home prices YoY: -26.5%
• Active inventory: 65
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,586 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $957

Break-even live

Break-even rent $374

Max offer price $35,000

Occupancy floor 35%

Sensitivity live

Price	-10% $977	-5% $967	+0% $957	+5% $947	+10% $937
Rent	-10% $832	-5% $894	+0% $957	+5% $1,020	+10% $1,082
Rate	-1.0pp $975	-0.5pp $966	base $957	+0.5pp $948	+1.0pp $939

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 2nd St N Unit 2 Virginia, MN	3.0	1.0	970	$1,535	$1.58	14d	1	0.64mi

Listing history 17 events

1. 2026-06-21
   days on market $35,000 Active 277 DOM
2. 2026-06-19
   days on market $35,000 Active 275 DOM
3. 2026-06-18
   days on market $35,000 Active 274 DOM
4. 2026-06-17
   days on market $35,000 Active 273 DOM
5. 2026-06-16
   days on market $35,000 Active 272 DOM
6. 2026-06-15
   days on market $35,000 Active 271 DOM
7. 2026-06-14
   days on market $35,000 Active 269 DOM
8. 2026-06-13
   days on market $35,000 Active 268 DOM
9. 2026-06-10
   days on market $35,000 Active 266 DOM
10. 2026-06-09
    days on market $35,000 Active 265 DOM
11. 2026-06-08
    days on market $35,000 Active 264 DOM
12. 2026-06-07
    days on market $35,000 Active 263 DOM
13. 2026-06-05
    days on market $35,000 Active 260 DOM
14. 2026-06-03
    days on market $35,000 Active 259 DOM
15. 2026-06-02
    days on market $35,000 Active 258 DOM
16. 2026-06-01
    remarks 342-char remark

    Show marketing remark (342 chars)

    MOTIVATED SELLER! BRING AN OFFER! Your summer project awaits with this duplex that's had some updates done to it but is ready for someone to take over the rest. The first floor unit needs some TLC and the upstairs unit it ready to start from scratch. This duplex features beautiful hardwood flooring, door handles, and dark wood door framing.

17. 2026-06-01
    listed $35,000 Active 257 DOM

    Show marketing remark (342 chars)

    MOTIVATED SELLER! BRING AN OFFER! Your summer project awaits with this duplex that's had some updates done to it but is ready for someone to take over the rest. The first floor unit needs some TLC and the upstairs unit it ready to start from scratch. This duplex features beautiful hardwood flooring, door handles, and dark wood door framing.

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,172 · $98/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: $19,030
• − Mortgage interest: −$1,961
• − Property taxes: −$1,172
• − Insurance: −$175
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$1,018
• Taxable income: $11,659
• Est. tax owed @ 24.0%: −$2,798
• After-tax cash flow: $8,686/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

+1067.1% since first listed

21 events — show timeline

• 2026-06-01 Listed $35,000 LSAR
• 2026-06-01 Relisted — RAOR
• 2026-06-01 Price Changed $35,000 RAOR
• 2026-03-02 Delisted — RAOR
• 2026-01-13 Price Changed $24,900 RAOR
• 2025-11-18 Price Changed $26,900 RAOR
• 2025-10-31 Price Changed $27,900 RAOR
• 2025-10-07 Price Changed $28,900 RAOR
• 2025-09-24 Price Changed $29,900 RAOR
• 2025-09-12 Price Changed $31,500 RAOR
• 2025-09-02 Price Changed $32,500 RAOR
• 2025-08-11 Price Changed $39,000 RAOR
• 2025-08-03 Price Changed $45,000 RAOR
• 2025-07-21 Price Changed $49,000 RAOR
• 2025-07-15 Price Changed $56,500 RAOR
• 2025-06-30 Price Changed $58,500 RAOR
• 2025-06-18 Listed $64,900 RAOR
• 2024-06-26 Sold (Public Records) $45,500 Public Records
• 2013-10-07 Sold (Public Records) $7,200 Public Records
• 2011-08-31 Sold (MLS) $2,900 RAOR
• 2011-06-21 Listed $2,999 RAOR

Property tax history

+3.2%/yr

Latest (2025): $1,172 · +136.3% YoY. Source: county tax records.