3217 Vermilion Trl · Makinen, MN 55763

$89,900

1 bd · None ba · 676 sqft · Other public records · 25 Days on market

Built 2014 19 ac lot

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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 +14.0/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.8/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

Key facts

• Good access
• One bedroom cabin
• 18.58 acres

Tags

• ONE BEDROOM CABIN
• 18.58 ACRES
• PAVED HWY 4
• GOOD ACCESS
• NEAR TRAILS
• NEAR LAKES

Property features AI

Finance

• Financial info: Annual tax amount listed (2026): $980

Exterior

• Parking: No designated parking
• Utilities: 200+ amp electric service (Lake Country Power); Fuel: Electric and propane; No public water; No public sewer
• Home design: Residential property; One story; Entry and main living on main level
• Construction: Asphalt roof; Slab foundation; Foundation footprint approximately 26 x 26
• Exterior features: Wood exterior; Lot approximately 18.58 acres (dimensions about 800 x 1000)

Interior

• Kitchen: Includes range and refrigerator
• Bedrooms: 1 bedroom (Main level, 8 x 10.8)
• Heating & cooling: No cooling
• Interior features: Range; Refrigerator
• Laundry & utility: Utility room (Main level, 6.3 x 8.1)

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $12 ($143/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (12.0% below list).
• Recommended offer: $79k (12.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Mesabi East School District (rural): math 27% / reading 47% proficiency, ranked #240 of 301 in MN (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (5.9% local appreciation)).
• At projected returns (5.9% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $69k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,117 (12.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.88% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.57%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 2.04×
• Total profit: $26,221
• Equity at exit: $55,979

10-year hold

• IRR: 15.7%
• Equity multiple: 4.05×
• Total profit: $76,679
• Equity at exit: $101,057

Cash invested: $25,172 (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 55763

• Home prices YoY: 2.8%
• Active inventory: 14
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $791 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $12

Break-even live

Break-even rent $776

Max offer price $89,900

Occupancy floor 93%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-11
   status Pending 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

2. 2026-05-11
   status Pending

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

3. 2026-05-11
   status Pending 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

4. 2026-04-30
   status Active 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

5. 2026-04-30
   status Active 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

6. 2026-04-30
   historical Contingent - Sale of Another Property

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

7. 2026-04-27
   status Pending 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

8. 2026-04-27
   status Pending 330-char remark

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

9. 2026-04-27
   status Pending

   Show marketing remark (330 chars)

   NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

10. 2026-04-12
    listed $89,900 Active 330-char remark

    Show marketing remark (330 chars)

    NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

11. 2026-04-12
    listed $89,900 Active 330-char remark

    Show marketing remark (330 chars)

    NEWER BUILT, ONE BEDROOM CABIN ON 18.58 ACRES IN NORTHERN MINNESOTA. JUST WAITING FOR YOU TO FINISH. GREAT GET AWAY SPOT OR MAKE IT A YEAR AROUND HOME. PROPERTY RIGHT OFF OF PAVED HWY 4. GOOD ACCESS TO DULUTH OR IRON RANGE CITIES. NEAR TRAILS, LAKES, WOODS, ETC. .. HAS ELECTRICITY. PASSIVE SOLAR WINDOWS. NEEDS A SEPTIC AND WELL.

12. 2026-04-10
    listed $89,900 Active
13. 2017-10-13
    soldstatus $69,000
14. 2014-03-11
    soldstatus $26,000

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,250 · $104/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 5/10 Major
• 🌡 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: $9,494
• − Mortgage interest: −$5,036
• − Property taxes: −$1,250
• − Insurance: −$450
• − Repairs & maintenance: −$760
• − Management: −$760
• − Depreciation: −$2,615
• Taxable loss: −$1,376
• Est. tax savings @ 24.0%: +$330
• After-tax cash flow: $474/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: Mesabi East School District
• NCES district ID: 2791450
• Math proficiency: 27% ▼ -17.00%
• Reading proficiency: 47% ▼ -8.00%
• Median HH income: $47,546
• Composite: 31.69/100
• National rank: #5922
• State rank: #240 of 301 in MN

Livability — Makinen

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 467

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Romanian 12% Portuguese 6% Scotch-Irish 5%
• Foreign-born: 2%
• Languages at home: 96% English-only · French/Haitian/Cajun 2% Russian/Polish/Slavic 1% 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: ▲ 5.91%
• Current HPI: 216.3814
• 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

+245.8% since first listed

14 events — show timeline

• 2026-05-11 Pending — LSAR
• 2026-05-11 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-11 Pending — RAOR
• 2026-04-30 Relisted — RAOR
• 2026-04-30 Relisted — LSAR
• 2026-04-30 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Pending — RAOR
• 2026-04-27 Pending — LSAR
• 2026-04-27 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-12 Listed $89,900 LSAR
• 2026-04-12 Listed $89,900 RAOR
• 2026-04-10 Listed $89,900 NORTHSTARMLS as Distributed by MLS Grid
• 2017-10-13 Sold (Public Records) $69,000 Public Records
• 2014-03-11 Sold (Public Records) $26,000 Public Records

Property tax history

+11.5%/yr

Latest (2025): $1,250 · +37.1% YoY. Source: county tax records.