1904 Piedmont Ave · Duluth, MN 55811

$219,900

3 bd · 2.0 ba · 1,275 sqft · SingleFamily public records · 5 Days on market

Built 1925 10,454 sqft lot Est $279k · 21% 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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's an opportunity to own a three bedroom, one bath bungalow in Piedmont. This home needs some TLC but has lots of potential. Either make it your own personal residence or use it as an investment property. It has newer windows and a one car garage. Large living room, spacious kitchen and dining area, nice size main floor bedrooms. The upstairs is adorable and has lots of nooks and storage. There is also has a partial view of the harbor. The lovely fenced backyard has a stone fireplace and cute patio area. Don't miss out on this great opportunity!

Key facts

• New boiler
• Refreshed bathroom
• Fire pit

Tags

• FULLY REMODELED KITCHEN
• REFRESHED BATHROOM
• NEW BOILER
• FULLY FENCED YARD
• FIRE PIT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Detached gravel garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; One story
• Construction: Asphalt shingle roof
• Exterior features: Fenced yard; City street frontage; Lot roughly 0.24 acres (approx. 141 x 76)

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Master bedroom on main level; Full unfinished basement; Wood-burning fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $821 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• 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: Rents rising fast (+4.6%/yr); 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 44% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $62k cash investment doubles in ~7 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 19y 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 $220k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,900

Questions for the listing agent

1. Built in 1925 — 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: 1.34% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.99%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $279,225
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1819 Springvale Rd	0.14mi	3/1.0	1,276 (+0%)	11mo	$295,000	$231	80
2509 Springvale Rd	0.49mi	3/1.5	1,266 (-1%)	1mo	$239,900	$189	73
1920 Gearhart St	0.14mi	2/2.0 (-1)	1,236 (-3%)	17mo	$299,900	$243	69
2028 Allegheny St	0.15mi	3/1.5	1,398 (+10%)	12mo	$281,000	$201	64
1906 Springvale Rd	0.25mi	2/1.0 (-1)	1,294 (+2%)	18mo	$237,000	$183	62
2440 Hutchinson Rd	0.58mi	3/2.0	1,228 (-4%)	6mo	$445,000	$362	62
2415 W 24th St	0.34mi	3/1.0	1,352 (+6%)	12mo	$299,900	$222	60
2335 Catskill St	0.11mi	4/1.5 (+1)	1,406 (+10%)	17mo	$256,500	$182	56
2106 Piedmont Ave	0.15mi	4/1.5 (+1)	1,106 (-13%)	12mo	$300,000	$271	54
2611 Chambersburg Ave	0.51mi	3/1.0	1,337 (+5%)	12mo	$260,000	$194	54
2352 Ensign St	0.66mi	2/1.0 (-1)	1,276 (+0%)	12mo	$280,000	$219	50
2308 Ensign St	0.59mi	3/1.0	1,370 (+8%)	13mo	$291,000	$212	45

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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.35×
• Total profit: $21,464
• Equity at exit: $32,788

10-year hold

• IRR: 19.2%
• Equity multiple: 2.73×
• Total profit: $106,477
• Equity at exit: $19,013

Cash invested: $61,572 (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 55811

• Rents YoY: 4.6%
• Active inventory: 206
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,936 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$254 /mo · $3,050/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $821

Break-even live

Break-even rent $1,897

Max offer price $219,900

Occupancy floor 67%

Sensitivity live

Price	-10% $945	-5% $883	+0% $821	+5% $758	+10% $696
Rent	-10% $589	-5% $705	+0% $821	+5% $937	+10% $1,053
Rate	-1.0pp $931	-0.5pp $877	base $821	+0.5pp $764	+1.0pp $706

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	44d	1	0.13mi
2011 W Superior St Duluth, MN	2.0	1.0–2.0	670	$1,844	$2.75	14d	12	1.36mi

Listing history 4 events

1. 2026-06-07
   statusdays on market $219,900 Pending 5 DOM
2. 2026-06-05
   days on market $219,900 Active 2 DOM
3. 2026-06-03
   remarks 687-char remark
4. 2026-06-03
   listed $219,900 Active 1 DOM

ⓘ 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: $3,050 · $254/mo
• Projected year-2 tax: $3,050 · $254/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 1/10 Low
• 🌡 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: $35,234
• − Mortgage interest: −$12,318
• − Property taxes: −$3,050
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,819
• − Management: −$2,819
• − Depreciation: −$6,397
• Taxable income: $6,732
• Est. tax owed @ 24.0%: −$1,616
• After-tax cash flow: $8,231/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): 28,118
• Household income: $79,804
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 1019.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Asian 2% Black 1%
• Common ancestry: Portuguese 14% Romanian 7% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▼ -252.84%
• Current HPI: 198.2613
• Rent YoY: ▲ 4.60%
• 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

+109.4% since first listed

5 events — show timeline

• 2026-06-02 Listed $219,900 LSAR
• 2019-03-01 Sold (Public Records) $107,000 Public Records
• 2019-02-20 Sold (MLS) $107,000 LSAR
• 2019-01-01 Listed $109,900 LSAR
• 2007-09-07 Listed $105,000 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $3,050 · +5.2% YoY. Source: county tax records.