2519 3rd Ave E · Hibbing, MN 55746

$79,000

3 bd · 2.0 ba · 1,228 sqft · SingleFamily public records · 125 Days on market

Built 1940 4,835 sqft lot $64/sqft · 29% below area Est $112k · 29% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

Key facts

• Ample storage space
• 3/4 bathroom
• 4,835 sq ft lot

Tags

• GENEROUSLY SIZED ENTRYWAY
• 3/4 BATHROOM
• AMPLE STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 6.4% in Hibbing — 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 79/100 on livability (#103 in MN, #2,307 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Hibbing Public School District (town): math 43% / reading 54% proficiency, ranked #150 of 301 in MN (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 30% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.79% ✓
• Cap rate: 16.20%
• Cash-on-cash: 35.39%
• DSCR: 2.57
• GRM: 4.7

CMA / ARV

• ARV (median comp): $111,577
• List price: $79,000
• Delta: -29.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 E 3rd Ave	0.08mi	3/2.0	1,218 (-1%)	9mo	$139,900	$115	88
2530 E 2nd Ave	0.04mi	3/1.2	1,285 (+5%)	3mo	$150,400	$117	84
2527 4th Ave Ave E	0.07mi	4/2.0 (+1)	1,369 (+12%)	4mo	$114,000	$83	70
2524 3rd Ave E	0.03mi	4/1.5 (+1)	1,334 (+9%)	9mo	$113,000	$85	70
2523 4th Avenue East Ave	0.05mi	3/3.0	1,395 (+14%)	8mo	$95,000	$68	64
2919 W 2nd Ave	0.39mi	3/1.5	1,334 (+9%)	8mo	$120,000	$90	59
306 Highland Dr	0.49mi	2/1.0 (-1)	1,144 (-7%)	2mo	$209,000	$183	56
2101 12th Ave Ave E	0.67mi	3/1.5	1,324 (+8%)	1mo	$154,900	$117	53
3101 W 2nd Ave	0.49mi	2/2.0 (-1)	1,080 (-12%)	5mo	$129,000	$119	48
2126 11th Ave E	0.61mi	3/1.8	1,372 (+12%)	8mo	$150,000	$109	45
3302 W 6th Ave	0.75mi	2/1.0 (-1)	1,092 (-11%)	1mo	$199,000	$182	37
3214 2nd Ave W	0.59mi	4/1.5 (+1)	1,404 (+14%)	10mo	$173,900	$124	34

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: 31.0%
• Equity multiple: 2.30×
• Total profit: $28,724
• Equity at exit: $11,779

10-year hold

• IRR: 38.1%
• Equity multiple: 4.54×
• Total profit: $78,402
• Equity at exit: $6,830

Cash invested: $22,120 (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 55746

• Home prices YoY: -18.7%
• Active inventory: 96
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$414
• Tax from tax record: −$17 /mo · $200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $652

Break-even live

Break-even rent $587

Max offer price $79,000

Occupancy floor 49%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1606 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	13d	1	1.05mi
1605 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	43d	1	1.05mi
100 Southview Dr Hibbing, MN	1.0–3.0	1.0	833	$1,072	$1.29	13d	1	1.07mi
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	43d	1	1.10mi
1643 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	13d	1	1.13mi
600 E 40th St Hibbing, MN	1.0–2.0	1.0	729	$1,135	$1.56	13d	1	1.35mi

Listing history 27 events

1. 2026-06-19
   days on market $79,000 Active 125 DOM
2. 2026-06-18
   days on market $79,000 Active 124 DOM
3. 2026-06-17
   days on market $79,000 Active 123 DOM
4. 2026-06-16
   days on market $79,000 Active 122 DOM
5. 2026-06-15
   days on market $79,000 Active 121 DOM
6. 2026-06-14
   days on market $79,000 Active 119 DOM
7. 2026-06-13
   days on market $79,000 Active 118 DOM
8. 2026-06-10
   days on market $79,000 Active 116 DOM
9. 2026-06-09
   days on market $79,000 Active 115 DOM
10. 2026-06-08
    days on market $79,000 Active 114 DOM
11. 2026-06-07
    days on market $79,000 Active 113 DOM
12. 2026-06-05
    days on market $79,000 Active 110 DOM
13. 2026-06-03
    days on market $79,000 Active 109 DOM
14. 2026-06-02
    days on market $79,000 Active 108 DOM
15. 2026-06-01
    days on market $79,000 Active 107 DOM
16. 2026-05-31
    days on market $79,000 Active 106 DOM
17. 2026-05-30
    days on market $79,000 Active 105 DOM
18. 2026-03-22
    price $79,000 917-char remark

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

19. 2026-03-22
    price $79,000 917-char remark

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

20. 2026-03-22
    price $79,000

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

21. 2026-02-14
    listed $88,000 Active 917-char remark

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

22. 2026-02-14
    listed $88,000 Active 917-char remark

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

23. 2026-02-14
    listed $88,000 Active

    Show marketing remark (917 chars)

    Located in the heart of Hibbing, MN, this 3-bedroom, 2-bath home offers incredible opportunity for buyers looking to build equity on the Iron Range. The main level features a spacious dining and kitchen area perfect for gathering and entertaining, along with a generously sized entryway complete with coat storage for convenient Minnesota living. Upstairs you’ll find three comfortable bedrooms and a full bathroom, creating a functional layout for everyday living. The lower level adds additional versatility with a 3/4 bathroom, laundry area with washer and dryer, and ample storage space. With solid bones and room to make it your own, this property is ideal for buyers seeking value, investment potential, or a home they can personalize over time. Conveniently located near local schools, parks, and amenities in Hibbing. Opportunity awaits — schedule your showing today and explore the possibilities!

24. 2010-06-28
    soldstatus $55,000
25. 2010-05-21
    soldstatus $55,000
26. 2010-03-29
    listed $64,900
27. 2005-06-08
    soldstatus $49,000

ⓘ 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: $200 · $17/mo
• Projected year-2 tax: $542 · $45/mo
• Expected delta: +$342/yr (+$29/mo · 171.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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: $16,957
• − Mortgage interest: −$4,425
• − Property taxes: −$200
• − Insurance: −$395
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$2,298
• Taxable income: $6,925
• Est. tax owed @ 24.0%: −$1,662
• After-tax cash flow: $6,167/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: Hibbing Public School District
• NCES district ID: 2713980
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 54% ▼ -13.00%
• Median HH income: $41,666
• Composite: 40.7/100
• National rank: #3667
• State rank: #150 of 301 in MN

Livability — Hibbing

• Score: 79/100
• State rank: #103
• US rank: #2307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hibbing, MN
• County: Saint Louis County · 115,152 people
• City population: 16,730
• Metro: Duluth, MN-WI
• Population (ZIP): 16,730
• Household income: $55,823
• Rent vs Own: 27.9% rent · 72.1% own
• Severe rent burden: 623.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 10% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 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: ▼ -50.85%
• Current HPI: 220.7198
• 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

+61.2% since first listed

10 events — show timeline

• 2026-03-22 Price Changed $79,000 RAOR
• 2026-03-22 Price Changed $79,000 LSAR
• 2026-03-22 Price Changed $79,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-14 Listed $88,000 RAOR
• 2026-02-14 Listed $88,000 LSAR
• 2026-02-14 Listed $88,000 NORTHSTARMLS as Distributed by MLS Grid
• 2010-06-28 Sold (Public Records) $55,000 Public Records
• 2010-05-21 Sold (MLS) $55,000 RAOR
• 2010-03-29 Listed $64,900 RAOR
• 2005-06-08 Sold (Public Records) $49,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $200 · -47.1% YoY. Source: county tax records.