705 4th St St N · Biwabik, MN 55708

$104,900

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 2 Days on market

Built 1991 0.48 ac lot Est $131k · 20% under

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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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +5.9/10.0
• Appreciation +5.6/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move-in ready and priced to fit your budget! This well-maintained 3-bedroom, 2-bathroom manufactured home sits on a spacious lot in Biwabik on the Iron Range — offering the elbow room you've been looking for at a price that makes sense. The layout makes everyday living easy, while two garages give you plenty of room for vehicles, ATVs, snowmobiles, or a workshop. The generous yard is ready for gardening, entertaining, or just enjoying Minnesota's beautiful seasons. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance retreat close to Giants Ridge and area lakes, this one checks the boxes. Come take a look — this kind of space and value doesn't stay on the market long. Call for a tour!

Key facts

• Generous yard
• Two garages
• Spacious lot

Tags

• SPACIOUS LOT
• TWO GARAGES
• GENEROUS YARD

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Front porch; Irregular lot

Interior

• Kitchen: Includes dishwasher, microwave, and refrigerator
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dishwasher, Microwave, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

Location & tenants

• Location reads 67/100 on livability (#441 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, employment D+.
• 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: 12 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 $2k of equity ($725 loan paydown + $1k appreciation (1.2% local appreciation)).
• At projected returns (1.2% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $63k; list at $105k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $104,900

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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.09% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $131,328
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 3rd St St N	0.17mi	3/1.8	1,280 (+5%)	1mo	$110,500	$86	82
400 N 5th Ave	0.27mi	3/2.0	1,254 (+3%)	1mo	$169,000	$135	81
423 7th Ave Ave N	0.04mi	2/1.8 (-1)	1,229 (+1%)	20mo	$128,500	$105	74
132 5th Ave Ave S	0.52mi	3/2.0	1,193 (-2%)	14mo	$110,000	$92	61
117 S 6th Ave	0.50mi	3/1.2	1,248 (+3%)	16mo	$134,900	$108	56
107 N 6th Ave	0.36mi	2/1.8 (-1)	1,074 (-12%)	10mo	$165,000	$154	50
121 3rd Ave S	0.59mi	2/2.0 (-1)	1,040 (-14%)	12mo	$165,000	$159	33

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

Projected returns pro-forma

1.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.66×
• Total profit: $19,520
• Equity at exit: $36,752

10-year hold

• IRR: 16.4%
• Equity multiple: 3.01×
• Total profit: $59,162
• Equity at exit: $49,575

Cash invested: $29,372 (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 55708

• Home prices YoY: 0.4%
• Active inventory: 12
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$44 /mo · $524/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $262

Break-even live

Break-even rent $807

Max offer price $104,900

Occupancy floor 72%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $104,900 Active 2 DOM
2. 2026-06-17
   remarks 687-char remark

   Show marketing remark (732 chars)

   Move-in ready and priced to fit your budget! This well-maintained 3-bedroom, 2-bathroom manufactured home sits on a spacious lot in Biwabik on the Iron Range — offering the elbow room you've been looking for at a price that makes sense. The layout makes everyday living easy, while two garages give you plenty of room for vehicles, ATVs, snowmobiles, or a workshop. The generous yard is ready for gardening, entertaining, or just enjoying Minnesota's beautiful seasons. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance retreat close to Giants Ridge and area lakes, this one checks the boxes. Come take a look — this kind of space and value doesn't stay on the market long. Call for a tour!

3. 2026-06-17
   listed $104,900 Active 1 DOM

   Show marketing remark (732 chars)

   Move-in ready and priced to fit your budget! This well-maintained 3-bedroom, 2-bathroom manufactured home sits on a spacious lot in Biwabik on the Iron Range — offering the elbow room you've been looking for at a price that makes sense. The layout makes everyday living easy, while two garages give you plenty of room for vehicles, ATVs, snowmobiles, or a workshop. The generous yard is ready for gardening, entertaining, or just enjoying Minnesota's beautiful seasons. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance retreat close to Giants Ridge and area lakes, this one checks the boxes. Come take a look — this kind of space and value doesn't stay on the market long. Call for a tour!

ⓘ 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: $524 · $44/mo
• Projected year-2 tax: $849 · $71/mo
• Expected delta: +$325/yr (+$27/mo · 62.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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: $13,669
• − Mortgage interest: −$5,876
• − Property taxes: −$524
• − Insurance: −$524
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$3,052
• Taxable income: $1,506
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $2,787/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 — Biwabik

• Score: 67/100
• State rank: #441
• US rank: #10477

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Biwabik, MN
• City population: 850
• Population (ZIP): 850

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 (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Portuguese 14% Romanian 9% Lithuanian 6%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 2% 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: ▲ 1.17%
• Current HPI: 291.4423
• 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

+66.5% since first listed

4 events — show timeline

• 2026-06-17 Listed $104,900 RAOR
• 2026-06-17 Listed $104,900 LSAR
• 2026-06-17 Listed $104,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-28 Sold (Public Records) $63,000 Public Records

Property tax history

+9.9%/yr

Latest (2026): $524 · +6.9% YoY. Source: county tax records.