3337 Vernon St · Duluth, MN 55807

$175,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 5 Days on market

Built 1919 0.30 ac lot Est $169k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +5.9/15.0
• 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

Really cute bungalow in Lincoln Park! Nice updated living room, big eat-in kitchen and three cozy bedrooms. The lower level has a big play/rec room, laundry, and a jumbo storage room. Maintenance free siding and a huge 28x24 garage. Yard is fenced for kids and pets. New front steps lead you in.

Key facts

• 0.3 acre lot
• 4 garage spots
• Built 1919

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 10.8% 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: 50 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).
• At $2,331/mo this rent would consume 45% of the median local household income ($62k/yr) (locally 407% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y ago 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 $107k; list at $175k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1919 — 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: 1.33% ✓
• Cap rate: 10.77%
• Cash-on-cash: 16.00%
• DSCR: 1.71
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $168,840
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Atlantic Ave	0.14mi	2/1.0 (-1)	897 (+7%)	0mo	$175,000	$195	77
615 N 41st Ave Ave W	0.67mi	2/1.0 (-1)	748 (-11%)	16mo	$150,000	$201	32

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $13,270
• Equity at exit: $26,093

10-year hold

• IRR: 16.3%
• Equity multiple: 2.33×
• Total profit: $65,218
• Equity at exit: $15,131

Cash invested: $49,000 (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 55807

• Active inventory: 50
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,331 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$198 /mo · $2,372/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $653

Break-even live

Break-even rent $1,504

Max offer price $175,000

Occupancy floor 67%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 W Superior St Duluth, MN	2.0	1.0–2.0	670	$1,844	$2.75	13d	12	1.18mi
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	43d	1	1.31mi

Listing history 9 events

1. 2026-04-08
   status Pending
2. 2026-04-01
   listed $175,000 Active
3. 2016-08-12
   soldstatus $107,000
4. 2016-08-08
   soldstatus $107,000 296-char remark

   Show marketing remark (296 chars)

   Really cute bungalow in Lincoln Park! Nice updated living room, big eat-in kitchen and three cozy bedrooms. The lower level has a big play/rec room, laundry, and a jumbo storage room. Maintenance free siding and a huge 28x24 garage. Yard is fenced for kids and pets. New front steps lead you in.

5. 2016-05-20
   listed $107,000 296-char remark

   Show marketing remark (296 chars)

   Really cute bungalow in Lincoln Park! Nice updated living room, big eat-in kitchen and three cozy bedrooms. The lower level has a big play/rec room, laundry, and a jumbo storage room. Maintenance free siding and a huge 28x24 garage. Yard is fenced for kids and pets. New front steps lead you in.

6. 2014-12-22
   historical
7. 2014-08-11
   listed $102,000 Active
8. 2007-10-23
   soldstatus $100,000
9. 2007-10-23
   soldstatus $100,000

ⓘ 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: $2,372 · $198/mo
• Projected year-2 tax: $2,372 · $198/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 2/10 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: $27,973
• − Mortgage interest: −$9,803
• − Property taxes: −$2,372
• − Insurance: −$875
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$5,091
• Taxable income: $5,356
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $6,553/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): 9,763
• Household income: $62,067
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 407.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 1% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 4%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -127.84%
• Current HPI: 212.6883
• 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

+75.0% since first listed

9 events — show timeline

• 2026-04-08 Pending — LSAR
• 2026-04-01 Listed $175,000 LSAR
• 2016-08-12 Sold (Public Records) $107,000 Public Records
• 2016-08-08 Sold (MLS) $107,000 LSAR
• 2016-05-20 Listed $107,000 LSAR
• 2014-12-22 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2014-08-11 Listed $102,000 NORTHSTARMLS as Distributed by MLS Grid
• 2007-10-23 Sold (Public Records) $100,000 Public Records
• 2007-10-23 Sold (Public Records) $100,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $2,372 · +2.8% YoY. Source: county tax records.