614 E 9th St · Duluth, MN 55805

$145,000

3 bd · 2.0 ba · 1,617 sqft · Other public records · 1 Days on market

Built 1915 6,970 sqft lot ↓ 3% since listing

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Why this score? — see what drove the B 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks

Nice size home with a large living room, kitchen and porch. Newer furnace & water heater, and also has central air. Three bedroom on the second level and seems to have hardwood floors throughout the home. There is a large private yard for your enjoyment.

Key facts

• Large private yard
• Large living room
• Hardwood floors

Tags

• LARGE LIVING ROOM
• LARGE PRIVATE YARD
• HARDWOOD FLOORS

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Single-story
• Construction: Built with other/unspecified materials
• Exterior features: Lot approximately 0.16 acres (140 x 50)

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.7% 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,072/mo this rent would consume 58% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1915 — 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: 1.43% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.80%
• DSCR: 1.70
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.33×
• Total profit: $13,466
• Equity at exit: $21,620

10-year hold

• IRR: 18.8%
• Equity multiple: 2.67×
• Total profit: $67,872
• Equity at exit: $12,537

Cash invested: $40,600 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$760
• Tax from tax record: −$282 /mo · $3,380/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $534

Break-even live

Break-even rent $1,396

Max offer price $145,000

Occupancy floor 69%

Sensitivity live

Price	-10% $617	-5% $575	+0% $534	+5% $493	+10% $452
Rent	-10% $371	-5% $453	+0% $534	+5% $616	+10% $698
Rate	-1.0pp $607	-0.5pp $571	base $534	+0.5pp $497	+1.0pp $459

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 E 5th St Duluth, MN	3.0	1.0	1124	$1,995	$1.77	44d	1	0.30mi
825 N 10th Ave E Duluth, MN	3.0	1.0	1120	$1,800	$1.61	44d	1	0.31mi
916 E 3rd St Duluth, MN	2.0	1.0	1325	$1,750	$1.32	14d	1	0.52mi
13 E 8th St Duluth, MN	4.0	1.5	1388	$2,000	$1.44	44d	1	0.53mi
333 E Superior St Duluth, MN	2.0	1.0–2.0	1154	$5,822	$5.05	14d	96	0.64mi
311 E Superior St #902 Duluth, MN	2.0	2.0	1500	$3,995	$2.66	44d	1	0.66mi
426 N 13th Ave E Duluth, MN	3.0	1.0	1248	$1,900	$1.52	14d	1	0.66mi
513 N 1st Ave W Unit 509 Duluth, MN	2.0	1.0	1300	$1,355	$1.04	44d	1	0.71mi
1425 E 2nd St Fl , 1 Duluth, MN	2.0	1.0	1100	$1,450	$1.32	44d	1	0.87mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	14d	1	1.12mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	22d	7	1.12mi
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	14d	1	1.17mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	14d	1	1.49mi

Listing history 2 events

1. 2026-06-18
   remarks 256-char remark
2. 2026-06-18
   listed $145,000 Active 1 DOM

ⓘ 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: $3,380 · $282/mo
• Projected year-2 tax: $3,380 · $282/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 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: $24,865
• − Mortgage interest: −$8,122
• − Property taxes: −$3,380
• − Insurance: −$725
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$4,218
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $5,347/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

-3.3% since first listed

3 events — show timeline

• 2026-06-18 Listed $145,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-18 Listed $145,000 LSAR
• 2021-07-13 Sold (Public Records) $150,000 Public Records

Property tax history

+7.3%/yr

Latest (2026): $3,380 · -0.8% YoY. Source: county tax records.