908 E Skyline Pkwy · Duluth, MN 55805

$2,100

4 bd · 3.0 ba · 3,089 sqft · MultiFamily public records · 277 Days on market

Built 1910 0.36 ac lot $1/sqft · 99% below area

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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 +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

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

This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

Key facts

• 0.36 acre lot
• Built 1910
• Listed 276 days

🏷️ Possibly a rental listed for sale. The $2,100 price doesn't fit this home's estimated sale value (~$194,857) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $2k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Recommended offer: $2k (12.0% below list) — sets the bar for market timing.
• Cap rate 1036.0% 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); 42 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,299/mo this rent would consume 64% 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 $15 of loan paydown is wiped out by about $63 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $588 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 ($2k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y ago; this cycle's ask has dropped $3k (62%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,848 (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 1910 — 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. 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?
7. 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.
8. 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.
9. 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: 109.50% ✓
• Cap rate: 1036.04%
• Cash-on-cash: 3677.68%
• DSCR: 164.64
• GRM: 0.1

CMA / ARV

• ARV (median comp): $194,857
• List price: $2,100
• Delta: -98.92%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1023 E 5th St	0.57mi	5/3.0 (+1)	3,091 (+0%)	1mo	$350,000	$113	67
602 E 7th St	0.52mi	4/4.0	3,000 (-3%)	10mo	$305,000	$102	59
1319 E 6th St	0.62mi	4/3.0	2,782 (-10%)	1mo	$360,000	$129	54
614 N 6th Ave Ave E	0.54mi	5/3.0 (+1)	3,537 (+14%)	21mo	$325,000	$92	28

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: —
• Equity multiple: 201.02×
• Total profit: $117,610
• Equity at exit: $313

10-year hold

• IRR: —
• Equity multiple: 449.29×
• Total profit: $263,592
• Equity at exit: $182

Cash invested: $588 (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: 42
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,299 medium
• Mortgage (P&I): −$11
• Tax est. 1.5%: −$3 /mo · $32/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $1,802

Break-even live

Break-even rent $18

Max offer price $2,100

Occupancy floor 17%

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: $525
• Closing costs: $63
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 S 18th Ave E Duluth, MN	5.0	2.5	2372	$2,495	$1.05	13d	1	1.29mi

Listing history 37 events

1. 2026-06-19
   days on market $2,100 Active 277 DOM
2. 2026-06-18
   days on market $2,100 Active 276 DOM
3. 2026-06-17
   days on market $2,100 Active 275 DOM
4. 2026-06-16
   days on market $2,100 Active 274 DOM
5. 2026-06-15
   days on market $2,100 Active 273 DOM
6. 2026-06-14
   days on market $2,100 Active 271 DOM
7. 2026-06-13
   days on market $2,100 Active 270 DOM
8. 2026-06-10
   days on market $2,100 Active 268 DOM
9. 2026-06-09
   days on market $2,100 Active 267 DOM
10. 2026-06-08
    days on market $2,100 Active 266 DOM
11. 2026-06-07
    days on market $2,100 Active 265 DOM
12. 2026-06-05
    days on market $2,100 Active 262 DOM
13. 2026-06-03
    days on market $2,100 Active 261 DOM
14. 2026-06-02
    days on market $2,100 Active 260 DOM
15. 2026-06-01
    days on market $2,100 Active 259 DOM
16. 2026-05-31
    days on market $2,100 Active 258 DOM
17. 2026-05-30
    days on market $2,100 Active 257 DOM
18. 2026-01-05
    price $2,100
19. 2025-10-23
    price $2,200 166-char remark

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

20. 2025-10-01
    soldstatus $2,200 Closed 166-char remark

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

21. 2025-09-15
    soldstatus $1,950,000 Closed
22. 2025-09-01
    price $2,350 166-char remark

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

23. 2025-07-28
    price $2,500 166-char remark

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

24. 2025-07-28
    listed $5,500 Active 166-char remark

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

25. 2025-07-28
    listed $1,950 Active

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

26. 2025-07-28
    listed $2,350 Active

    Show marketing remark (166 chars)

    This is an upper unit with 2 bedrooms, den, 1 bath and an open kitchen/living room with off-street parking for 2 vehicles. There is no smoking, no pets. 1 year lease.

27. 2023-09-15
    soldstatus $1,650 Closed
28. 2020-09-12
    soldstatus $1,500
29. 2020-05-02
    listed $1,500
30. 2019-08-21
    soldstatus $325,000
31. 2017-07-31
    soldstatus $1,400
32. 2017-04-01
    soldstatus $1,600
33. 2016-07-05
    listed $1,400
34. 2016-07-05
    listed $1,600
35. 2011-12-14
    listed $269,900
36. 2011-05-02
    listed $299,900
37. 2008-07-02
    soldstatus $95,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥91°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: $27,594
• − Mortgage interest: −$118
• − Property taxes: −$32
• − Insurance: −$10
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − Depreciation: −$61
• Taxable income: $22,958
• Est. tax owed @ 24.0%: −$5,510
• After-tax cash flow: $16,115/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

-97.8% since first listed

20 events — show timeline

• 2026-01-05 Price Changed $2,100 LSAR
• 2025-10-23 Price Changed $2,200 LSAR
• 2025-10-01 Sold (MLS) $2,200 LSAR
• 2025-09-15 Sold (MLS) $1,950,000 LSAR
• 2025-09-01 Price Changed $2,350 LSAR
• 2025-07-28 Price Changed $2,500 LSAR
• 2025-07-28 Listed $5,500 LSAR
• 2025-07-28 Listed $1,950 LSAR
• 2025-07-28 Listed $2,350 LSAR
• 2023-09-15 Sold (MLS) $1,650 LSAR
• 2020-09-12 Sold (MLS) $1,500 LSAR
• 2020-05-02 Listed $1,500 LSAR
• 2019-08-21 Sold (Public Records) $325,000 Public Records
• 2017-07-31 Sold (MLS) $1,400 LSAR
• 2017-04-01 Sold (MLS) $1,600 LSAR
• 2016-07-05 Listed $1,600 LSAR
• 2016-07-05 Listed $1,400 LSAR
• 2011-12-14 Listed $269,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-05-02 Listed $299,900 NORTHSTARMLS as Distributed by MLS Grid
• 2008-07-02 Sold (Public Records) $95,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $6,484 · +8.8% YoY. Source: county tax records.