512 Rose St · Duluth, MN 55803

$189,900

2 bd · 1.0 ba · 762 sqft · SingleFamily public records · 6 Days on market

Built 1924 0.29 ac lot Est $210k · 9% under

---

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 +19.4/30.0
• ARV discount +11.7/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• 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

This 2-bedroom, 1-bathroom ranch sits in one of the quieter, more wooded corners of the city. The neighborhood is a standout as a park sits right across the street, there is trail access nearby, and a sense of privacy with a lot twice the standard depth size of a typical lot. Recent updates include a new roof, new furnace, and new appliances, so the big-ticket items are already taken care of. The primary bedroom features a glass door that opens directly to a private back patio and spacious backyard, a great setup for morning coffee or winding down at the end of the day. Come schedule your tour today!

Key facts

• New furnace
• Spacious backyard
• Private back patio

Tags

• PARK ACROSS THE STREET
• TRAIL ACCESS NEARBY
• PRIVATE BACK PATIO
• SPACIOUS BACKYARD
• NEW ROOF
• NEW FURNACE

Property features AI

Exterior

• Parking: Attached garage with 1-car capacity
• Utilities: City water (connected); City sewer (connected); Natural gas fuel; Electric service provided by Minnesota Power
• Home design: Residential property; Single-story (one level); Main entry on main level
• Construction: Built on poured concrete foundation; Foundation dimensions approximately 35 x 19'10"; Above-ground finished area 725 (main level finished area 725)
• Exterior features: Wood exterior

Interior

• Kitchen: Kitchen on main level (~8.5 x 11.10)
• Bedrooms: 2 bedrooms on the main level (one ~12.8 x 8.11, one ~9.1 x 17.5)
• Bathrooms: 1 full bathroom on the main level (~5.6 x 5.4)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Full, unfinished basement; Poured concrete foundation; One-level living
• Laundry & utility: Utility space in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $184k (3.1% below list).
• Recommended offer: $184k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: 107 active listings in the ZIP; solid renter incomes; 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

• Only 6 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.
• Current owner paid $69k; list at $190k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,046 (3.1% below list)

Questions for the listing agent

1. Built in 1924 — 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: 0.97% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $209,550
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Sparkman Ave	0.26mi	1/1.0 (-1)	867 (+14%)	4mo	$195,000	$225	56
2408 Vermilion Rd	0.32mi	2/1.0	840 (+10%)	19mo	$231,000	$275	52

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-17,265
• Equity at exit: $28,315

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $2,314
• Equity at exit: $16,419

Cash invested: $53,172 (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 55803

• Active inventory: 107
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,840 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$167 /mo · $2,000/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $212

Break-even live

Break-even rent $1,572

Max offer price $189,900

Occupancy floor 83%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-13
   status $189,900 Pending 6 DOM
2. 2026-06-10
   days on market $189,900 Active 6 DOM
3. 2026-06-09
   days on market $189,900 Active 5 DOM
4. 2026-06-08
   days on market $189,900 Active 4 DOM
5. 2026-06-07
   days on market $189,900 Active 3 DOM
6. 2026-06-05
   remarks 607-char remark
7. 2026-06-05
   listed $189,900 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: $2,000 · $167/mo
• Projected year-2 tax: $2,063 · $172/mo
• Expected delta: +$63/yr (+$5/mo · 3.2%)

ⓘ 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 ≥89°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: $22,086
• − Mortgage interest: −$10,637
• − Property taxes: −$2,000
• − Insurance: −$950
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$5,524
• Taxable loss: −$559
• Est. tax savings @ 24.0%: +$134
• After-tax cash flow: $2,682/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): 17,662
• Household income: $105,888
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 322.0

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Portuguese 16% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Chinese 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: ▼ -363.34%
• Current HPI: 197.6712
• 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

+208.8% since first listed

4 events — show timeline

• 2026-06-03 Listed $189,900 NORTHSTARMLS as Distributed by MLS Grid
• 2026-06-03 Listed $189,900 LSAR
• 2000-06-20 Sold (Public Records) $69,000 Public Records
• 1999-08-12 Sold (Public Records) $61,500 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,000 · +0.9% YoY. Source: county tax records.