12 Driftwood Dr · Virginia, MN 55792

$139,000

4 bd · 2.0 ba · 1,620 sqft · SingleFamily · 24 Days on market

Built 1993 6,400 sqft lot Est $206k · 32% under $50/mo HOA · 3% of rent

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.8/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One level 4 Bd, 2Bath home with large yard with many perrenials. Completely spotless. Move in ready. Features include:French doors, All appliances, master bedroom has large attached bathroom. Huge deck with handicapped ramp. Two sheds , and no lot rent, it is included with home purchase. Great family home or for the winter traveler.

Key facts

• Private bath
• Large lot
• Bonus room

Tags

• LARGE LOT
• DINING ROOM
• BONUS ROOM
• SKYLIGHTS
• DECK
• PRIVATE BATH

Property features AI

Finance

• HOA & community: Homeowners association with management; Association fee $50 per month

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story
• Construction: Asphalt roof
• Exterior features: Deck; Irregular lot

Interior

• Kitchen: Electric range
• Heating & cooling: Forced air heating
• Interior features: Electric range; Electric water heater; Crawl space basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 7.5% in Virginia — 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 63/100 on livability (#664 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D, health & safety D.
• Mountain Iron-Buhl School District (town): math 36% / reading 51% proficiency, ranked #196 of 301 in MN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 37% of the median local income ($54k/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 $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y 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 $64k; list at $139k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $136,915 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.18% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.66%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $205,740
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5474 Carnation Ave	0.72mi	3/1.5 (-1)	1,418 (-12%)	18mo	$180,412	$127	23

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,613
• Equity at exit: $20,725

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $36,738
• Equity at exit: $12,018

Cash invested: $38,920 (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 55792

• Home prices YoY: -26.5%
• Active inventory: 64
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$58
• HOA: −$50
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $411

Break-even live

Break-even rent $1,117

Max offer price $139,000

Occupancy floor 70%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 17 events

1. 2026-06-13
   statusdays on market $139,000 Pending 24 DOM
2. 2026-06-10
   days on market $139,000 Active 23 DOM
3. 2026-06-09
   days on market $139,000 Active 22 DOM
4. 2026-06-08
   days on market $139,000 Active 21 DOM
5. 2026-06-07
   days on market $139,000 Active 20 DOM
6. 2026-06-05
   days on market $139,000 Active 17 DOM
7. 2026-06-03
   days on market $139,000 Active 16 DOM
8. 2026-06-02
   days on market $139,000 Active 15 DOM
9. 2026-06-01
   days on market $139,000 Active 14 DOM
10. 2026-05-31
    days on market $139,000 Active 13 DOM
11. 2026-05-30
    days on market $139,000 Active 12 DOM
12. 2026-05-18
    listed $139,000 Active
13. 2015-01-24
    historical
14. 2014-07-25
    listed $69,900 Active
15. 2011-10-28
    soldstatus $63,500
16. 2011-10-19
    soldstatus $63,500 334-char remark

    Show marketing remark (334 chars)

    One level 4 Bd, 2Bath home with large yard with many perrenials. Completely spotless. Move in ready. Features include:French doors, All appliances, master bedroom has large attached bathroom. Huge deck with handicapped ramp. Two sheds , and no lot rent, it is included with home purchase. Great family home or for the winter traveler.

17. 2011-06-07
    listed $59,900 334-char remark

    Show marketing remark (334 chars)

    One level 4 Bd, 2Bath home with large yard with many perrenials. Completely spotless. Move in ready. Features include:French doors, All appliances, master bedroom has large attached bathroom. Huge deck with handicapped ramp. Two sheds , and no lot rent, it is included with home purchase. Great family home or for the winter traveler.

ⓘ 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: $546 · $46/mo
• Projected year-2 tax: $1,051 · $88/mo
• Expected delta: +$505/yr (+$42/mo · 92.6%)

ⓘ 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 4/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,642
• − Mortgage interest: −$7,786
• − Property taxes: −$546
• − Insurance: −$695
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − HOA: −$600
• − Depreciation: −$4,044
• Taxable income: $2,828
• Est. tax owed @ 24.0%: −$679
• After-tax cash flow: $4,250/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: Mountain Iron-Buhl School District
• NCES district ID: 2700001
• Math proficiency: 36% ▼ -10.00%
• Reading proficiency: 51% ▼ -12.00%
• Median HH income: $46,501
• Composite: 37.01/100
• National rank: #4519
• State rank: #196 of 301 in MN

Livability — Virginia

• Score: 63/100
• State rank: #664
• US rank: #15991

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment F Housing A+ Health & safety D User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia, MN
• County: Saint Louis County · 115,152 people
• City population: 9,663
• Metro: Duluth, MN-WI
• Population (ZIP): 9,663
• Household income: $53,750
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 286.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Native American 3% Asian 1%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 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: ▼ -72.05%
• Current HPI: 199.7165
• Rent YoY: —
• 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

+132.1% since first listed

6 events — show timeline

• 2026-05-18 Listed $139,000 RAOR
• 2015-01-24 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-07-25 Listed $69,900 NORTHSTARMLS as Distributed by MLS Grid
• 2011-10-28 Sold (Public Records) $63,500 Public Records
• 2011-10-19 Sold (MLS) $63,500 RAOR
• 2011-06-07 Listed $59,900 RAOR

Property tax history

+4.3%/yr

Latest (2025): $546 · -25.2% YoY. Source: county tax records.