516 W Quince St · Duluth, MN 55811

$283,900

2 bd · 1.0 ba · 858 sqft · SingleFamily public records · 4 Days on market

Built 1960 0.47 ac lot Est $251k · 13% over

---

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 +22.1/30.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable bungalow features easy main floor living with two bedrooms and a full bath located on the first floor and one more large bedroom in the lower level. New carpeting, freshly painted and move-in ready! Home is situated on a rural-like 1/2 acre lot in desirable Duluth Heights. Close to shopping, dining, grocery stores, colleges, and the bus line makes this an ideal location.

Key facts

• New furnace
• New septic system
• New appliances

Tags

• DULUTH HEIGHTS NEIGHBORHOOD
• EXPANSIVE OUTDOOR SPACE
• NEW APPLIANCES
• NEW FURNACE
• NEW CENTRAL AIR
• NEW SEPTIC SYSTEM

Property features AI

Exterior

• Parking: Detached garage (1 car); Asphalt driveway
• Utilities: Public water; Mound septic system
• Home design: Single-family detached residence; Single-story
• Construction: Asphalt shingle roof
• Exterior features: Asphalt/shingle roof; Shed(s) on the property; Rolling slope lot; Public maintained road frontage on a city street; Lot dimensions approximately 241 x 86; Lot size about 0.47 acres

Interior

• Bedrooms: Master on main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating; Propane fuel
• Interior features: Master bedroom on the main level; Full, partially finished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $284k.

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 ($3k rent vs $284k).
• Cap rate 8.2% 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 (+4.6%/yr); 206 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 43% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago 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.
• Current owner paid $232k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $283,900

Questions for the listing agent

1. Built in 1960 — 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: 1.02% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $250,536
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 W Linden St	0.68mi	2/1.0	864 (+1%)	5mo	$315,000	$365	63
322 W Mulberry St	0.49mi	3/1.0 (+1)	910 (+6%)	19mo	$266,000	$292	46
114 Lemon St	0.45mi	2/1.0	766 (-11%)	18mo	$151,000	$197	46

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-12,307
• Equity at exit: $42,330

10-year hold

• IRR: 7.3%
• Equity multiple: 1.59×
• Total profit: $46,505
• Equity at exit: $24,546

Cash invested: $79,492 (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 55811

• Rents YoY: 4.6%
• Active inventory: 206
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,888 medium
• Mortgage (P&I): −$1,489
• Tax from tax record: −$219 /mo · $2,624/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $456

Break-even live

Break-even rent $2,311

Max offer price $283,900

Occupancy floor 79%

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: $70,975
• Closing costs: $8,517
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 W Orange St Duluth, MN	3.0	1.0	1022	$3,500	$3.42	43d	1	0.14mi
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	43d	1	1.27mi
502 N Oak Bend Dr Duluth, MN	1.0–2.0	1.0	857	$1,549	$1.81	13d	1	1.34mi

Listing history 5 events

1. 2026-06-19
   days on market $283,900 Active 4 DOM
2. 2026-06-18
   days on market $283,900 Active 3 DOM
3. 2026-06-17
   days on market $283,900 Active 2 DOM
4. 2026-06-15
   remarks 649-char remark
5. 2026-06-15
   listed $283,900 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: $2,624 · $219/mo
• Projected year-2 tax: $2,902 · $242/mo
• Expected delta: +$278/yr (+$23/mo · 10.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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: $34,653
• − Mortgage interest: −$15,903
• − Property taxes: −$2,624
• − Insurance: −$1,420
• − Repairs & maintenance: −$2,772
• − Management: −$2,772
• − Depreciation: −$8,259
• Taxable income: $903
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $5,250/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): 28,118
• Household income: $79,804
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1019.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -252.84%
• Current HPI: 198.2613
• Rent YoY: ▲ 4.60%
• 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

+110.3% since first listed

7 events — show timeline

• 2026-06-15 Listed $283,900 LSAR
• 2024-08-22 Sold (Public Records) $231,500 Public Records
• 2024-08-15 Sold (MLS) $231,500 LSAR
• 2024-07-02 Listed $219,900 LSAR
• 2017-03-23 Sold (Public Records) $110,000 Public Records
• 2017-03-23 Sold (MLS) $110,000 LSAR
• 2017-01-27 Listed $135,000 LSAR

Property tax history

+6.0%/yr

Latest (2026): $2,624 · +23.8% YoY. Source: county tax records.