5201 Ivanhoe St · Duluth, MN 55804

$250,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 6 Days on market

Built 1912 0.32 ac lot Est $294k · 15% under

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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 +14.2/30.0
• ARV discount +14.2/15.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Set on a spacious corner lot, this home offers standout curb appeal with mature trees, a well-kept yard, and effortless access to parks, schools, and everyday amenities. Inside, the bright and inviting main level features a generous living room where large windows flood the space with natural light, creating a warm and welcoming atmosphere. Step outside to a private backyard designed for relaxation and play — perfect for gardening, outdoor dining, or quiet evenings at home. A detached garage and additional off-street parking add convenience and functionality. Located just minutes from Lester Park trails, Brighton Beach, and the heart of Duluth’s Lakeside neighborhood, this prope

Key facts

• Well-kept yard
• Private backyard
• Off-street parking

Tags

• CORNER LOT
• MATURE TREES
• WELL-KEPT YARD
• PRIVATE BACKYARD
• DETACHED GARAGE
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; 2 stories
• Exterior features: 100 x 140 lot (0.32 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Wood-burning fireplace; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $39 ($472/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 $221k (11.6% below list).
• Recommended offer: $221k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Lester Park Elementary (math 73% / reading 77%, grade A, #31 of 857 statewide, top 4%, 575 students, 20% FRL); Ordean East Middle School (math 45% / reading 61%, grade C+, #53 of 258 statewide, top 22%, 989 students, 26% FRL); East High School (math 42% / reading 73%, grade C, #59 of 471 statewide, top 13%, 1,494 students, 23% FRL) — zoned schools average 23% FRL vs 39% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Duluth Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 100 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,035 (11.6% below list)

Questions for the listing agent

1. Built in 1912 — 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. 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?
5. 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.
6. 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.
7. 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: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $294,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5211 Avondale St	0.28mi	3/1.5	1,068 (-9%)	4mo	$175,000	$164	67
5323 Wyoming St	0.37mi	3/1.0	1,232 (+5%)	12mo	$295,000	$239	65
5402 Juniata St	0.48mi	2/1.0 (-1)	1,108 (-6%)	8mo	$277,000	$250	56
4919 Oakley St	0.31mi	2/2.0 (-1)	1,296 (+10%)	4mo	$165,000	$127	56
4722 Oneida St	0.70mi	3/1.5	1,091 (-7%)	2mo	$286,000	$262	52
4831 Oneida St	0.62mi	3/2.0	1,118 (-5%)	8mo	$296,900	$266	52
828 N 54th Ave Ave E	0.25mi	2/1.5 (-1)	1,081 (-8%)	22mo	$305,000	$282	50
5331 Glenwood St	0.51mi	3/1.5	1,284 (+9%)	16mo	$225,000	$175	45
5840 Tioga St	0.74mi	3/1.0	1,085 (-8%)	9mo	$290,000	$267	45
5122 Glenwood St	0.52mi	2/1.5 (-1)	999 (-15%)	1mo	$290,000	$290	43
4930 Oneida St	0.62mi	3/1.5	1,030 (-12%)	19mo	$165,000	$160	33
4621 Oneida St	0.74mi	2/1.0 (-1)	1,021 (-13%)	9mo	$250,000	$245	31

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-37,986
• Equity at exit: $37,276

10-year hold

• IRR: -6.6%
• Equity multiple: 0.57×
• Total profit: $-29,770
• Equity at exit: $21,615

Cash invested: $70,000 (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 55804

• Active inventory: 100
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,210 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$292 /mo · $3,500/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $39

Break-even live

Break-even rent $2,161

Max offer price $250,000

Occupancy floor 93%

Sensitivity live

Price	-10% $181	-5% $110	+0% $39	+5% $-31	+10% $-102
Rent	-10% $-135	-5% $-48	+0% $39	+5% $127	+10% $214
Rate	-1.0pp $165	-0.5pp $103	base $39	+0.5pp $-25	+1.0pp $-91

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5231 Wyoming St Duluth, MN	3.0	1.0	1500	$2,250	$1.50	23d	1	0.38mi
5090 London Rd Unit 1 Duluth, MN	2.0	2.0	959	$2,100	$2.19	15d	1	1.11mi

Listing history 6 events

1. 2026-06-03
   status $250,000 Pending 6 DOM
2. 2026-06-02
   days on market $250,000 Active 6 DOM
3. 2026-06-01
   days on market $250,000 Active 5 DOM
4. 2026-05-31
   days on market $250,000 Active 4 DOM
5. 2026-05-30
   days on market $250,000 Active 3 DOM
6. 2026-05-27
   listed $250,000 Active

ⓘ 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: $3,500 · $292/mo
• Projected year-2 tax: $3,500 · $292/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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 14 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: $26,524
• − Mortgage interest: −$14,004
• − Property taxes: −$3,500
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$7,273
• Taxable loss: −$3,746
• Est. tax savings @ 24.0%: +$899
• After-tax cash flow: $1,371/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
• City population: 71,097
• Population (ZIP): 16,018

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 1% Asian 1%
• Common ancestry: Portuguese 14% Scottish 4% Romanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · 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: ▼ -253.94%
• Current HPI: 199.4064
• 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

1 event — show timeline

• 2026-05-27 Listed $250,000 LSAR

Property tax history

+4.4%/yr

Latest (2025): $3,500 · +9.3% YoY. Source: county tax records.