2316 Piedmont Ave · Duluth, MN 55811

$244,900

3 bd · 2.0 ba · 978 sqft · SingleFamily public records · 22 Days on market

Built 1922 10,018 sqft lot Est $226k · 8% 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.2/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• ARV discount +3.7/15.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 2-bedroom, 2-bath home with a 1-car garage in the heart of Piedmont. This move-in ready home offers a great mix of charm, updates and functional living spaces. The bright main level features an inviting living and dining area with wood beams that flows into the updated kitchen with stainless steel appliances. A main-floor bedroom adds flexibility for guests, an office, or everyday living. Upstairs, the spacious primary suite includes a walk-in closet and private full bath, creating a quiet retreat. The lower level offers even more space with a bonus room and updated ¾ bath, ideal for a home office, workout area, or additional living space. Major updates include the roof, furnace, and water heater, all within the past 9 years, plus newly added central air for year-round comfort. An oversized mudroom provides great storage and a practical entry for every season. Outside, enjoy a NEW fully fenced backyard with a spacious yard, patio, deck, apple tree, and storage shed. Perfect for entertaining, relaxing, or giving pets room to roam. Convenient location with key updates already done. Schedule your showing today.

Key facts

• 0.23 acre lot
• Garage
• Built 1922

Property features AI

Finance

• Other: Washer/Dryer hookup listed among amenities

Exterior

• Parking: Detached or other parking; One-car garage (approximately 12 x 20)
• Utilities: City water connected; City sewer connected; Natural gas; Minnesota Power service
• Home design: Residential property; One-and-a-half story; Above-grade finished area and main level finished area listed separately
• Construction: Frame construction; Asphalt roof; Block foundation
• Exterior features: Patio; Wood exterior; Storage shed; Publicly maintained road access; Lot approximately 0.23 acres (50 x 200)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two bedrooms (one on the main level, one on the upper level)
• Bathrooms: One full bathroom; One three-quarter bathroom (basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living/Dining room combination; Mud room; Family room in lower level; Partial block basement
• Laundry & utility: Washer and dryer hookups (electric dryer hookup) in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $728 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $241k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.
• Zoned schools: Piedmont Elementary (math 42% / reading 37%, grade F, #604 of 857 statewide, top 74%, 426 students, 63% FRL); Lincoln Park Middle School (math 26% / reading 39%, grade F, #186 of 258 statewide, top 72%, 524 students, 66% FRL); Denfeld High School (math 32% / reading 42%, grade F, #282 of 471 statewide, top 63%, 940 students, 56% FRL) — zoned schools average 62% FRL vs 39% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Duluth Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.6%/yr); 208 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 45% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $69k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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.
• Current owner paid $177k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,226 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.74%
• DSCR: 1.57
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $225,918
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2445 Morris Thomas Rd	0.18mi	2/2.0 (-1)	1,068 (+9%)	3mo	$242,500	$227	69
2229 Hillcrest Dr	0.24mi	2/1.0 (-1)	1,055 (+8%)	12mo	$208,000	$197	57
2228 W 24th St	0.16mi	2/1.0 (-1)	1,020 (+4%)	24mo	$229,000	$225	56
1730 Piedmont Ave	0.40mi	2/2.0 (-1)	1,044 (+7%)	11mo	$240,000	$230	56
2106 Piedmont Ave	0.16mi	4/1.5 (+1)	1,106 (+13%)	12mo	$300,000	$271	54
2929 Piedmont Ave	0.58mi	2/1.0 (-1)	990 (+1%)	11mo	$230,000	$232	53
1925 Gearhart St	0.38mi	2/2.0 (-1)	868 (-11%)	11mo	$255,000	$294	50
2219 Hoover St	0.28mi	3/1.5	1,078 (+10%)	22mo	$249,000	$231	50
2035 Adirondack St	0.25mi	2/1.0 (-1)	864 (-12%)	19mo	$179,200	$207	44
2309 Ozark St	0.33mi	2/1.0 (-1)	1,098 (+12%)	21mo	$266,000	$242	37
2427 W Skyline Pkwy	0.65mi	2/1.0 (-1)	832 (-15%)	18mo	$200,000	$240	21

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $11,565
• Equity at exit: $36,515

10-year hold

• IRR: 15.2%
• Equity multiple: 2.32×
• Total profit: $90,472
• Equity at exit: $21,174

Cash invested: $68,572 (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 55811

• Rents YoY: 4.6%
• Active inventory: 208
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,982 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$241 /mo · $2,894/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $728

Break-even live

Break-even rent $2,060

Max offer price $244,900

Occupancy floor 71%

Sensitivity live

Price	-10% $867	-5% $797	+0% $728	+5% $659	+10% $589
Rent	-10% $492	-5% $610	+0% $728	+5% $846	+10% $964
Rate	-1.0pp $851	-0.5pp $790	base $728	+0.5pp $665	+1.0pp $600

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	45d	1	0.21mi
505 W Orange St Duluth, MN	3.0	1.0	1022	$3,500	$3.42	45d	1	1.44mi

Listing history 25 events

1. 2026-06-13
   status $244,900 Pending 22 DOM
2. 2026-06-10
   days on market $244,900 Contingent - Inspection 22 DOM
3. 2026-06-09
   days on market $244,900 Contingent - Inspection 21 DOM
4. 2026-06-08
   statusdays on market $244,900 Contingent - Inspection 20 DOM
5. 2026-06-07
   days on market $244,900 Active 19 DOM
6. 2026-06-05
   pricedays on market $244,900 Active 16 DOM
7. 2026-06-03
   days on market $249,900 Active 15 DOM
8. 2026-06-02
   days on market $249,900 Active 14 DOM
9. 2026-06-01
   days on market $249,900 Active 13 DOM
10. 2026-05-31
    statusdays on market $249,900 Active 12 DOM
11. 2026-05-30
    days on market $249,900 Contingent - Inspection 11 DOM
12. 2026-05-22
    historical Contingent - Inspection
13. 2026-05-20
    listed $249,900 Active
14. 2026-05-19
    historical $249,900

    Show marketing remark (1148 chars)

    Well-maintained 2-bedroom, 2-bath home with a 1-car garage in the heart of Piedmont. This move-in ready home offers a great mix of charm, updates and functional living spaces. The bright main level features an inviting living and dining area with wood beams that flows into the updated kitchen with stainless steel appliances. A main-floor bedroom adds flexibility for guests, an office, or everyday living. Upstairs, the spacious primary suite includes a walk-in closet and private full bath, creating a quiet retreat. The lower level offers even more space with a bonus room and updated ¾ bath, ideal for a home office, workout area, or additional living space. Major updates include the roof, furnace, and water heater, all within the past 9 years, plus newly added central air for year-round comfort. An oversized mudroom provides great storage and a practical entry for every season. Outside, enjoy a NEW fully fenced backyard with a spacious yard, patio, deck, apple tree, and storage shed. Perfect for entertaining, relaxing, or giving pets room to roam. Convenient location with key updates already done. Schedule your showing today.

15. 2026-05-19
    listed $249,900 Active 1148-char remark

    Show marketing remark (1148 chars)

    Well-maintained 2-bedroom, 2-bath home with a 1-car garage in the heart of Piedmont. This move-in ready home offers a great mix of charm, updates and functional living spaces. The bright main level features an inviting living and dining area with wood beams that flows into the updated kitchen with stainless steel appliances. A main-floor bedroom adds flexibility for guests, an office, or everyday living. Upstairs, the spacious primary suite includes a walk-in closet and private full bath, creating a quiet retreat. The lower level offers even more space with a bonus room and updated ¾ bath, ideal for a home office, workout area, or additional living space. Major updates include the roof, furnace, and water heater, all within the past 9 years, plus newly added central air for year-round comfort. An oversized mudroom provides great storage and a practical entry for every season. Outside, enjoy a NEW fully fenced backyard with a spacious yard, patio, deck, apple tree, and storage shed. Perfect for entertaining, relaxing, or giving pets room to roam. Convenient location with key updates already done. Schedule your showing today.

16. 2020-08-14
    soldstatus $177,000
17. 2020-08-10
    soldstatus $169,900 810-char remark

    Show marketing remark (810 chars)

    Immaculate (2) two bedroom, (2) two bathroom, (1) one car garage located in Piedmont! This home features a new roof, furnace, & water heater, an updated kitchen that has new countertops and stainless steel appliances, a nice open living area with a bedroom on the main floor. The upstairs features a spacious bedroom with a walk in closet and private bathroom. Also enjoy the perks of having a bonus room in the basement that includes an updated 3/4 bathroom! This home also offers an over sized mud room that is perfect for storage and taking off all of your gear through Duluth winters! And last but not least enjoy having an oversized deck that leads to a private back yard that includes apple trees, a shed and that is perfect for all of your barbecues and get togethers! This home will not last long!

18. 2020-06-26
    listed $169,900 810-char remark

    Show marketing remark (810 chars)

    Immaculate (2) two bedroom, (2) two bathroom, (1) one car garage located in Piedmont! This home features a new roof, furnace, & water heater, an updated kitchen that has new countertops and stainless steel appliances, a nice open living area with a bedroom on the main floor. The upstairs features a spacious bedroom with a walk in closet and private bathroom. Also enjoy the perks of having a bonus room in the basement that includes an updated 3/4 bathroom! This home also offers an over sized mud room that is perfect for storage and taking off all of your gear through Duluth winters! And last but not least enjoy having an oversized deck that leads to a private back yard that includes apple trees, a shed and that is perfect for all of your barbecues and get togethers! This home will not last long!

19. 2017-06-02
    soldstatus $139,400
20. 2017-05-31
    soldstatus $139,400
21. 2017-04-29
    listed $137,900
22. 2013-07-02
    soldstatus $130,000
23. 2013-06-21
    soldstatus $130,000
24. 2013-04-29
    listed $135,000
25. 2006-11-16
    soldstatus $128,900

ⓘ 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: $2,894 · $241/mo
• Projected year-2 tax: $2,894 · $241/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 3/10 Moderate
• 🌡 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: $35,780
• − Mortgage interest: −$13,718
• − Property taxes: −$2,894
• − Insurance: −$1,224
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − Depreciation: −$7,124
• Taxable income: $5,094
• Est. tax owed @ 24.0%: −$1,223
• After-tax cash flow: $7,514/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): 28,118
• Household income: $79,804
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1019.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -252.84%
• Current HPI: 198.2613
• Rent YoY: ▲ 4.60%
• 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

+93.9% since first listed

14 events — show timeline

• 2026-05-22 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-20 Listed $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Coming Soon $249,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-19 Listed $249,900 LSAR
• 2020-08-14 Sold (Public Records) $177,000 Public Records
• 2020-08-10 Sold (MLS) $169,900 LSAR
• 2020-06-26 Listed $169,900 LSAR
• 2017-06-02 Sold (Public Records) $139,400 Public Records
• 2017-05-31 Sold (MLS) $139,400 LSAR
• 2017-04-29 Listed $137,900 LSAR
• 2013-07-02 Sold (Public Records) $130,000 Public Records
• 2013-06-21 Sold (MLS) $130,000 NORTHSTARMLS as Distributed by MLS Grid
• 2013-04-29 Listed $135,000 NORTHSTARMLS as Distributed by MLS Grid
• 2006-11-16 Sold (Public Records) $128,900 Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,894 · +5.0% YoY. Source: county tax records.