301 S 59th Ave Ave W · Duluth, MN 55807

$284,900

3 bd · 2.0 ba · 1,914 sqft · MultiFamily public records · 79 Days on market

Built 1906 9,583 sqft lot $149/sqft · 21% above area Est $236k · 21% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Move right in and feel at home in this 3+bedroom, 2 bathroom traditional home, complete with a spacious two-car garage.  Currently used as a duplex, this home can be used as an owner occupied duplex and/or a single family home. The main floor offers two bedrooms, a functional kitchen that flows into the dining area, and a comfortable living room perfect for everyday living. Upstairs, you’ll find an additional kitchen, a bedroom, nook, a full bathroom, and a spacious, carpeted living area, ideal for a second family room, playroom, or retreat. The home sits on a generously sized lot, offering plenty of outdoor space. Don’t miss your opportunity, schedule your showing today!

Key facts

• Functional kitchen
• Additional kitchen
• Generously sized lot

Tags

• FUNCTIONAL KITCHEN
• DINING AREA
• COMFORTABLE LIVING ROOM
• ADDITIONAL KITCHEN
• SPACIOUS CARPETED LIVING AREA
• GENEROUSLY SIZED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Recommended offer: $268k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: 50 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).
• At $4,124/mo this rent would consume 80% of the median local household income ($62k/yr) (locally 407% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $80k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $118k; list at $285k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $267,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.53%
• DSCR: 1.96
• GRM: 5.8

CMA / ARV

• ARV (median comp): $235,833
• List price: $284,900
• Delta: 20.81%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 N 60th Ave Ave W	0.50mi	4/2.0 (+1)	1,800 (-6%)	3mo	$265,000	$147	59
23 N 62nd Ave Ave W	0.39mi	3/2.0	1,670 (-13%)	22mo	$189,000	$113	42

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: 14.1%
• Equity multiple: 1.56×
• Total profit: $44,953
• Equity at exit: $42,480

10-year hold

• IRR: 22.9%
• Equity multiple: 2.96×
• Total profit: $156,404
• Equity at exit: $24,633

Cash invested: $79,772 (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 55807

• Active inventory: 50
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $4,124 medium
• Mortgage (P&I): −$1,494
• Tax from tax record: −$214 /mo · $2,570/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$866
• Net cashflow: $1,431

Break-even live

Break-even rent $2,313

Max offer price $284,900

Occupancy floor 60%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,125
Total (3 units)			$4,124

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5725 W 8th St Unit 2 Duluth, MN	3.0	1.0	1300	$1,550	$1.19	21d	1	1.07mi

Listing history 20 events

1. 2026-06-19
   days on market $284,900 Active 79 DOM
2. 2026-06-18
   days on market $284,900 Active 78 DOM
3. 2026-06-17
   days on market $284,900 Active 77 DOM
4. 2026-06-16
   days on market $284,900 Active 76 DOM
5. 2026-06-15
   days on market $284,900 Active 75 DOM
6. 2026-06-14
   days on market $284,900 Active 73 DOM
7. 2026-06-13
   days on market $284,900 Active 72 DOM
8. 2026-06-10
   days on market $284,900 Active 70 DOM
9. 2026-06-09
   days on market $284,900 Active 69 DOM
10. 2026-06-08
    days on market $284,900 Active 68 DOM
11. 2026-06-07
    days on market $284,900 Active 67 DOM
12. 2026-06-05
    days on market $284,900 Active 64 DOM
13. 2026-06-03
    days on market $284,900 Active 63 DOM
14. 2026-06-02
    days on market $284,900 Active 62 DOM
15. 2026-06-01
    days on market $284,900 Active 61 DOM
16. 2026-05-31
    days on market $284,900 Active 60 DOM
17. 2026-05-30
    days on market $284,900 Active 59 DOM
18. 2026-04-01
    listed $284,900 Active 697-char remark

    Show marketing remark (697 chars)

    Move right in and feel at home in this 3+bedroom, 2 bathroom traditional home, complete with a spacious two-car garage.  Currently used as a duplex, this home can be used as an owner occupied duplex and/or a single family home. The main floor offers two bedrooms, a functional kitchen that flows into the dining area, and a comfortable living room perfect for everyday living. Upstairs, you’ll find an additional kitchen, a bedroom, nook, a full bathroom, and a spacious, carpeted living area, ideal for a second family room, playroom, or retreat. The home sits on a generously sized lot, offering plenty of outdoor space. Don’t miss your opportunity, schedule your showing today!

19. 2005-03-29
    soldstatus $118,000
20. 2000-08-14
    soldstatus $76,000

ⓘ 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: $2,570 · $214/mo
• Projected year-2 tax: $2,880 · $240/mo
• Expected delta: +$310/yr (+$26/mo · 12.1%)

ⓘ 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 2/10 Low 7 d/yr ≥91°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,488
• − Mortgage interest: −$15,959
• − Property taxes: −$2,570
• − Insurance: −$1,424
• − Repairs & maintenance: −$3,959
• − Management: −$3,959
• − Depreciation: −$8,288
• Taxable income: $13,329
• Est. tax owed @ 24.0%: −$3,199
• After-tax cash flow: $13,974/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): 9,763
• Household income: $62,067
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 407.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 1% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 4%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -127.84%
• Current HPI: 212.6883
• 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

+274.9% since first listed

3 events — show timeline

• 2026-04-01 Listed $284,900 LSAR
• 2005-03-29 Sold (Public Records) $118,000 Public Records
• 2000-08-14 Sold (Public Records) $76,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,570 · +2.6% YoY. Source: county tax records.