1127 N 46th Ave Ave E · Duluth, MN 55804

$199,900

2 bd · 1.0 ba · 776 sqft · Other public records · 32 Days on market

Built 1894 2,178 sqft lot

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lakeside clean and affordable 2 bedroom on a corner lot. Enclosed front porch, recently painted interior, living room and dining combined with new carpet, nice hardwood flloors in bedrooms. Natural gas forced air furnace and water heater, newer roofing in

Key facts

• Updated kitchen
• Hardwood floors
• 2,178 sq ft lot

Tags

• UPDATED KITCHEN
• HARDWOOD FLOORS
• OVER-LOOKING THE BACKYARD

Property features AI

Finance

• Financial info: Annual property tax reported

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; 2-story
• Exterior features: Shed(s); City street frontage; Lot dimensions approximately 23 x 100 (0.05 acre)

Interior

• Bathrooms: One three-quarter bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $200k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: 99 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; list at $200k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — 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. 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.
6. 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.
7. 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: 1.10% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• GRM: 7.5

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-3,390
• Equity at exit: $29,806

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $34,328
• Equity at exit: $17,284

Cash invested: $55,972 (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: 99
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,209 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $456

Break-even live

Break-even rent $1,632

Max offer price $199,900

Occupancy floor 74%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5090 London Rd Unit 1 Duluth, MN	2.0	2.0	959	$2,100	$2.19	13d	1	0.52mi
3780 London Rd Duluth, MN	1.0–3.0	1.0–2.0	1312	$2,542	$1.94	13d	1	1.16mi

Listing history 25 events

1. 2026-06-19
   days on market $199,900 Active 32 DOM
2. 2026-06-18
   days on market $199,900 Active 31 DOM
3. 2026-06-17
   days on market $199,900 Active 30 DOM
4. 2026-06-17
   price $199,900 Active 29 DOM
5. 2026-06-16
   days on market $215,000 Active 29 DOM
6. 2026-06-15
   days on market $215,000 Active 28 DOM
7. 2026-06-14
   days on market $215,000 Active 26 DOM
8. 2026-06-13
   days on market $215,000 Active 25 DOM
9. 2026-06-10
   days on market $215,000 Active 23 DOM
10. 2026-06-09
    days on market $215,000 Active 22 DOM
11. 2026-06-08
    days on market $215,000 Active 21 DOM
12. 2026-06-07
    pricedays on market $215,000 Active 20 DOM
13. 2026-06-05
    days on market $224,000 Active 17 DOM
14. 2026-06-03
    days on market $224,000 Active 16 DOM
15. 2026-06-02
    days on market $224,000 Active 15 DOM
16. 2026-06-01
    pricedays on market $224,000 Active 14 DOM
17. 2026-05-31
    days on market $225,000 Active 13 DOM
18. 2026-05-30
    days on market $225,000 Active 12 DOM
19. 2026-05-18
    listed $225,000 Active
20. 2011-04-01
    soldstatus $72,900
21. 2011-02-25
    soldstatus $72,900 255-char remark

    Show marketing remark (255 chars)

    Lakeside clean and affordable 2 bedroom on a corner lot. Enclosed front porch, recently painted interior, living room and dining combined with new carpet, nice hardwood flloors in bedrooms. Natural gas forced air furnace and water heater, newer roofing in

22. 2010-09-13
    listed $84,900 255-char remark

    Show marketing remark (255 chars)

    Lakeside clean and affordable 2 bedroom on a corner lot. Enclosed front porch, recently painted interior, living room and dining combined with new carpet, nice hardwood flloors in bedrooms. Natural gas forced air furnace and water heater, newer roofing in

23. 2010-03-09
    listed $89,900
24. 2009-10-06
    listed $95,000
25. 2009-05-11
    listed $109,900

ⓘ 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: $1,890 · $158/mo
• Projected year-2 tax: $2,064 · $172/mo
• Expected delta: +$174/yr (+$15/mo · 9.2%)

ⓘ 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 1/10 Low
• 🌡 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: $26,504
• − Mortgage interest: −$11,198
• − Property taxes: −$1,890
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − Depreciation: −$5,815
• Taxable income: $2,361
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $4,902/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

+104.7% since first listed

7 events — show timeline

• 2026-05-18 Listed $225,000 LSAR
• 2011-04-01 Sold (Public Records) $72,900 Public Records
• 2011-02-25 Sold (MLS) $72,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-13 Listed $84,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-03-09 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2009-10-06 Listed $95,000 NORTHSTARMLS as Distributed by MLS Grid
• 2009-05-11 Listed $109,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $1,890 · +19.3% YoY. Source: county tax records.