16 Kalmia Dr · Duluth, MN 55810

$65,000

2 bd · 1.0 ba · 924 sqft · SingleFamily · 14 Days on market

Built 1999 Good condition

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

Listing remarks

Grab your toothbrush and clothes and move right into this 2 bedroom, 1 bath home located in Zenith Terrace. This home comes fully furnished including the all the furniture, Tv's all appliances, pots and pans, dishes, etc. You name it . .. it's there and ready for you. It even include all the tools in the shed plus the lawnmower and snow blower. Call today for a showing and make it yours!

Key facts

• All appliances
• Fully furnished
• Built 1999

Tags

• FULLY FURNISHED
• ALL APPLIANCES

Property features AI

Finance

• Financial info: Annual tax listed ($379); Land lease payment ($598)

Exterior

• Parking: No parking
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Single-story
• Construction: Above-grade finished area: 924
• Exterior features: Lot is leased

Interior

• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Master bedroom on the main level; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 13.1% 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.
• Proctor Public School District (suburban): math 39% / reading 49% proficiency, ranked #177 of 301 in MN (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 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 $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $65,000

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. 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?
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: 1.60% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.39%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $218,064
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Dewberry Ln	0.16mi	2/1.0	840 (-9%)	2mo	$29,000	$35	76
21 Oak St	0.49mi	2/1.0	924 (0%)	6mo	$170,000	$184	72
121 Oak St	0.60mi	3/1.0 (+1)	934 (+1%)	3mo	$220,000	$236	63
9202 Meadow St	0.50mi	2/1.0	836 (-10%)	20mo	$201,000	$240	44
8218 Vinland St	0.67mi	2/1.5	809 (-12%)	7mo	$252,100	$312	40
145 2nd St	0.70mi	3/1.0 (+1)	1,056 (+14%)	19mo	$217,900	$206	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.6%
• Equity multiple: 4.24×
• Total profit: $58,981
• Equity at exit: $58,557

10-year hold

• IRR: 36.8%
• Equity multiple: 9.53×
• Total profit: $155,190
• Equity at exit: $126,281

Cash invested: $18,200 (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 55810

• Home prices YoY: 11.6%
• Active inventory: 50
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $370

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 59%

Sensitivity live

Price	-10% $415	-5% $392	+0% $370	+5% $348	+10% $325
Rent	-10% $288	-5% $329	+0% $370	+5% $411	+10% $452
Rate	-1.0pp $403	-0.5pp $387	base $370	+0.5pp $353	+1.0pp $336

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $65,000 Active 14 DOM
2. 2026-06-18
   days on market $65,000 Active 13 DOM
3. 2026-06-17
   days on market $65,000 Active 12 DOM
4. 2026-06-16
   days on market $65,000 Active 11 DOM
5. 2026-06-15
   days on market $65,000 Active 10 DOM
6. 2026-06-14
   days on market $65,000 Active 8 DOM
7. 2026-06-13
   days on market $65,000 Active 7 DOM
8. 2026-06-10
   days on market $65,000 Active 5 DOM
9. 2026-06-09
   days on market $65,000 Active 4 DOM
10. 2026-06-08
    days on market $65,000 Active 3 DOM
11. 2026-06-07
    remarks 392-char remark
12. 2026-06-07
    listed $65,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥89°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,443
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,891
• Taxable income: $3,621
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $3,571/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with cosmetic updates needed. It's move-in ready with a fresh paint job and some minor repairs, making it an attractive option for both resale and rental.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear visible.
• Minor Bathroom walls — Some discoloration present.
• Minor Exterior siding — Some discoloration noted.
• Minor Living room carpet — Some wear and tear visible.

Value-add opportunities

• Both Paint touch-ups and freshening of interior decor — Fresh paint and updated decor can enhance both resale and rental value.
• Both New flooring in living areas — New carpet or hardwood flooring can significantly improve the home's appeal and value.
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear visible.	Minor	$500–3,000
Bathroom walls · Some discoloration present.	Minor	$500–3,000
Exterior siding · Some discoloration noted.	Minor	$500–3,000
Living room carpet · Some wear and tear visible.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint touch-ups and freshening of interior decor — Fresh paint and updated decor can enhance both resale and rental value. ↑
• Both New flooring in living areas — New carpet or hardwood flooring can significantly improve the home's appeal and value. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract more potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Proctor Public School District
• NCES district ID: 2730090
• Math proficiency: 39% ▼ -20.00%
• Reading proficiency: 49% ▼ -11.00%
• Median HH income: $61,151
• Composite: 38.84/100
• National rank: #4106
• State rank: #177 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): 8,305

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 2% Asian 1% Black 1%
• Common ancestry: Portuguese 13% Romanian 5% Lithuanian 3%
• Foreign-born: 1% · China, Vietnam
• Languages at home: 98% English-only · 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: ▲ 53.59%
• Current HPI: 515.02
• 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

• 2026-06-05 Listed $65,000 LSAR