526 N 60th Ave E · Duluth, MN 55804

$275,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 4 Days on market

Built 1956 6,970 sqft lot $264/sqft · 30% above area Est $300k · 8% under

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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 +13.1/30.0
• ARV discount +11.3/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-loved 3-bedroom, 1.75-bath bungalow has been in the same family since it was built in 1956—and now it’s ready for its next chapter. Located in the highly desirable Lester Park neighborhood, this home offers solid bones, key updates, and the perfect opportunity to add your personal touch. The main floor features three bedrooms, a full bath, beautiful hardwood floors, and a bright eat-in kitchen. Major mechanical updates include a newer gas forced-air furnace and central air, giving you peace of mind right from the start. The full basement offers additional space along with a ¾ bath and has had extensive work completed by Northern States Basement Systems, with a t

Key facts

• Newer roof
• Full basement
• Central air

Tags

• NEWER GAS FORCED-AIR FURNACE
• CENTRAL AIR
• FULL BASEMENT
• TRANSFERABLE WARRANTY
• NEWER ROOF
• 2-CAR DETACHED GARAGE

Property features AI

Finance

• Other: Residential property listed by RE/MAX Results

Exterior

• Parking: Detached garage with 2 spaces; Concrete driveway; Off-street parking; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single family detached residence; One story
• Construction: Asphalt shingle roof; Basement: full, partially finished
• Exterior features: Outdoor lighting; City street frontage; Lot approximately 79 x 87 (0.16 acres)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Primary bedroom located on the main level
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Primary bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-11 ($-136/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (19.9% below list).
• Recommended offer: $220k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.9% in Duluth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Lester Park Elementary (math 73% / reading 77%, grade A, #31 of 857 statewide, top 4%, 575 students, 20% FRL); Ordean East Middle School (math 45% / reading 61%, grade C+, #53 of 258 statewide, top 22%, 989 students, 26% FRL); East High School (math 42% / reading 73%, grade C, #59 of 471 statewide, top 13%, 1,494 students, 23% FRL) — zoned schools average 23% FRL vs 39% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Duluth Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 100 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,234 (19.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.80% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (median comp): $300,175
• List price: $275,000
• Delta: -8.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5211 Avondale St	0.35mi	3/1.5	1,068 (+3%)	4mo	$175,000	$164	74
5840 Tioga St	0.31mi	3/1.0	1,085 (+4%)	9mo	$290,000	$267	67
5122 Glenwood St	0.46mi	2/1.5 (-1)	999 (-4%)	1mo	$290,000	$290	64
5402 Juniata St	0.23mi	2/1.0 (-1)	1,108 (+6%)	8mo	$277,000	$250	63
828 N 54th Ave Ave E	0.22mi	2/1.5 (-1)	1,081 (+4%)	22mo	$305,000	$282	58
21 S 55th Ave E	0.58mi	2/1.5 (-1)	1,080 (+4%)	3mo	$250,000	$231	57
4930 Oneida St	0.63mi	3/1.5	1,030 (-1%)	19mo	$165,000	$160	51
4831 Oneida St	0.70mi	3/2.0	1,118 (+8%)	8mo	$296,900	$266	48
4911 Glenwood St	0.61mi	2/2.0 (-1)	1,056 (+2%)	22mo	$240,000	$227	45
4931 Wyoming St	0.57mi	2/1.0 (-1)	936 (-10%)	6mo	$249,000	$266	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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-45,344
• Equity at exit: $41,003

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-40,654
• Equity at exit: $23,777

Cash invested: $77,000 (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 55804

• Active inventory: 100
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,202 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$194 /mo · $2,334/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-11

Break-even live

Break-even rent $2,217

Max offer price $272,992

Occupancy floor 96%

Sensitivity live

Price	-10% $144	-5% $66	+0% $-11	+5% $-89	+10% $-167
Rent	-10% $-185	-5% $-98	+0% $-11	+5% $76	+10% $163
Rate	-1.0pp $127	-0.5pp $59	base $-11	+0.5pp $-83	+1.0pp $-155

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5231 Wyoming St Duluth, MN	3.0	1.0	1500	$2,250	$1.50	23d	1	0.30mi
5090 London Rd Unit 1 Duluth, MN	2.0	2.0	959	$2,100	$2.19	15d	1	0.86mi

Listing history 2 events

1. 2026-05-05
   status Pending 1196-char remark
2. 2026-04-30
   listed $275,000 Active 1196-char remark

ⓘ 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: $2,334 · $194/mo
• Projected year-2 tax: $2,707 · $226/mo
• Expected delta: +$373/yr (+$31/mo · 16.0%)

ⓘ 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 · 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: $26,428
• − Mortgage interest: −$15,404
• − Property taxes: −$2,334
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$8,000
• Taxable loss: −$4,914
• Est. tax savings @ 24.0%: +$1,179
• After-tax cash flow: $1,043/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
• City population: 71,097
• Population (ZIP): 16,018

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 14% Scottish 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · 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: ▼ -253.94%
• Current HPI: 199.4064
• 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

+6.9% since first listed

3 events — show timeline

• 2026-06-17 Sold (MLS) $294,000 LSAR
• 2026-05-05 Pending — LSAR
• 2026-04-30 Listed $275,000 LSAR

Property tax history

+2.3%/yr

Latest (2026): $2,334 · +8.1% YoY. Source: county tax records.