3524 1st Ave E · Hibbing, MN 55746

$212,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 1 Days on market

Built 1960 8,363 sqft lot Est $146k · 45% over

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Why this score? — see what drove the F 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 +8.2/30.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom rambler with maintenance free siding, larger lot, and great location. Gas heat and electric hot water heater. Interior info is estimated.

Key facts

• 8,363 sq ft lot
• 2 garage spots
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $212k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (33.5% below list).
• Recommended offer: $141k (33.5% below list) — sets the bar for 1% rule.

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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $74k; list at $212k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $141,006 (33.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.67% ✗
• Cap rate: 5.16%
• Cash-on-cash: -4.05%
• DSCR: 0.82
• GRM: 12.5

CMA / ARV

• ARV (on-the-fly): $145,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3410 4th Ave W	0.24mi	2/1.2 (-1)	1,040 (-2%)	6mo	$133,000	$128	74
3302 W 6th Ave	0.38mi	2/1.0 (-1)	1,092 (+3%)	1mo	$199,000	$182	72
3833 3rd Ave Ave W	0.31mi	3/1.0	1,001 (-6%)	7mo	$169,000	$169	70
3101 W 2nd Ave	0.41mi	2/2.0 (-1)	1,080 (+2%)	5mo	$129,000	$119	65
427 E 33rd St	0.33mi	4/1.3 (+1)	1,021 (-4%)	8mo	$140,000	$137	65
4053 Stuntz Dr	0.56mi	3/2.0	1,048 (-2%)	4mo	$169,500	$162	64
3804 4th Ave Ave W	0.28mi	3/1.2	1,161 (+9%)	13mo	$160,000	$138	60
3825 E 4th Ave	0.36mi	2/1.7 (-1)	975 (-8%)	2mo	$79,000	$81	60
411 W 36th St	0.26mi	3/1.5	1,160 (+9%)	14mo	$125,000	$108	60
3330 Outer Dr	0.29mi	2/2.0 (-1)	977 (-8%)	6mo	$131,500	$135	59
3112 2nd Ave Ave W	0.38mi	2/1.0 (-1)	1,017 (-4%)	13mo	$120,000	$118	59
2815 E 4th Ave	0.62mi	3/1.5	1,001 (-6%)	11mo	$141,000	$141	50

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: -23.2%
• Equity multiple: 0.21×
• Total profit: $-47,171
• Equity at exit: $31,610

10-year hold

• IRR: -17.9%
• Equity multiple: 0.03×
• Total profit: $-57,780
• Equity at exit: $18,330

Cash invested: $59,360 (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: 12.5×

Monthly cashflow live

• Estimated rent: $1,410 high
• Mortgage (P&I): −$1,112
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-200

Break-even live

Break-even rent $1,663

Max offer price $176,645

Occupancy floor —

Sensitivity live

Price	-10% $-80	-5% $-140	+0% $-200	+5% $-260	+10% $-320
Rent	-10% $-312	-5% $-256	+0% $-200	+5% $-144	+10% $-89
Rate	-1.0pp $-93	-0.5pp $-146	base $-200	+0.5pp $-255	+1.0pp $-311

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 E 40th St Hibbing, MN	1.0–2.0	1.0	729	$1,135	$1.56	14d	1	0.64mi
1606 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	14d	1	1.20mi
1605 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	44d	1	1.21mi
1643 E 29th St Hibbing, MN	2.0	1.0	1000	$1,160	$1.16	14d	1	1.24mi
1627 E 29th St Hibbing, MN	3.0	1.0	1200	$1,535	$1.28	44d	1	1.24mi

Listing history 10 events

1. 2026-04-20
   status Pending
2. 2026-04-20
   listed $212,000 Active
3. 2016-05-20
   soldstatus $74,000
4. 2016-05-06
   soldstatus $74,000 151-char remark

   Show marketing remark (151 chars)

   Three bedroom rambler with maintenance free siding, larger lot, and great location. Gas heat and electric hot water heater. Interior info is estimated.

5. 2015-11-11
   listed $79,900 151-char remark

   Show marketing remark (151 chars)

   Three bedroom rambler with maintenance free siding, larger lot, and great location. Gas heat and electric hot water heater. Interior info is estimated.

6. 2013-07-24
   soldstatus $61,000 149-char remark

   Show marketing remark (149 chars)

   Great starter home and equity builder with a great location and a nice yard. 3 bedrooms on main. Basement waiting to be finished off. 1 level living.

7. 2013-01-15
   listed $65,000 149-char remark

   Show marketing remark (149 chars)

   Great starter home and equity builder with a great location and a nice yard. 3 bedrooms on main. Basement waiting to be finished off. 1 level living.

8. 2011-11-01
   historical
9. 2011-01-28
   listed $105,900
10. 2006-09-07
    soldstatus $99,839

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,871 · $156/mo
• Expected delta: +$503/yr (+$42/mo · 36.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 74% 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: $16,921
• − Mortgage interest: −$11,875
• − Property taxes: −$1,368
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$6,167
• Taxable loss: −$6,257
• Est. tax savings @ 24.0%: +$1,502
• After-tax cash flow: $-900/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

+112.3% since first listed

10 events — show timeline

• 2026-04-20 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-20 Listed $212,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-20 Sold (Public Records) $74,000 Public Records
• 2016-05-06 Sold (MLS) $74,000 RAOR
• 2015-11-11 Listed $79,900 RAOR
• 2013-07-24 Sold (MLS) $61,000 RAOR
• 2013-01-15 Listed $65,000 RAOR
• 2011-11-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2011-01-28 Listed $105,900 NORTHSTARMLS as Distributed by MLS Grid
• 2006-09-07 Sold (Public Records) $99,839 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,368 · -13.9% YoY. Source: county tax records.