630-632 N 59th Ave Ave W · Duluth, MN 55807

$300,000

5 bd · 3.0 ba · 2,432 sqft · MultiFamily public records · 27 Days on market

Built 1914 6,098 sqft lot $123/sqft · 31% above area Est $228k · 31% over

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Why this score? — see what drove the C- 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
• DSCR +8.8/10.0
• 1% rule +6.7/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This solid Spirit Valley duplex is ready for a new owner! These identical side by side units offer 2 stories, each with private access to their own basement with laundry, formal dining rooms, 3 bedrooms and 1 bath, and decks off of the kitchen. 630 has new paint, carpet, and a new stove and fridge, plus a sauna in the basement. There is off-street parking as well as a 2 car detached garage. The building had a new rubber slope roof put on in 2013. Both units are fully rented and tenants pay all utilities. Each unit has its own boiler, hot water heater, and electrical panel too. The location is great and is within blocks of schools, shopping, the library, the co-op, entertainment, Spirit Mtn Recreation Area, the Superior Hiking Trail, public transit, and much more.

Key facts

• New stove
• New carpet
• Decks off kitchen

Tags

• PRIVATE ACCESS TO BASEMENT
• FORMAL DINING ROOMS
• DECKS OFF KITCHEN
• NEW PAINT
• NEW CARPET
• NEW STOVE

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $296k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $3,509/mo this rent would consume 68% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $160k; list at $300k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $295,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 7.1

CMA / ARV

• ARV (median comp): $228,154
• List price: $300,000
• Delta: 31.49%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
630-632 N 59th Ave Ave W	0.00mi	6/2.0 (+1)	2,432 (0%)	0mo	$300,000	$123	91
4612 W 5th St	0.56mi	4/3.0 (-1)	2,100 (-14%)	11mo	$330,000	$157	37

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-800
• Equity at exit: $44,731

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $60,930
• Equity at exit: $25,939

Cash invested: $84,000 (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: 14.3×

Monthly cashflow live

• Estimated rent: $3,509 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$324 /mo · $3,882/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$737
• Net cashflow: $750

Break-even live

Break-even rent $2,559

Max offer price $300,000

Occupancy floor 74%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,508
Total (2 units)			$3,509

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-14
   status Pending 773-char remark

   Show marketing remark (773 chars)

   This solid Spirit Valley duplex is ready for a new owner! These identical side by side units offer 2 stories, each with private access to their own basement with laundry, formal dining rooms, 3 bedrooms and 1 bath, and decks off of the kitchen. 630 has new paint, carpet, and a new stove and fridge, plus a sauna in the basement. There is off-street parking as well as a 2 car detached garage. The building had a new rubber slope roof put on in 2013. Both units are fully rented and tenants pay all utilities. Each unit has its own boiler, hot water heater, and electrical panel too. The location is great and is within blocks of schools, shopping, the library, the co-op, entertainment, Spirit Mtn Recreation Area, the Superior Hiking Trail, public transit, and much more.

2. 2026-04-17
   listed $300,000 Active 773-char remark

   Show marketing remark (773 chars)

   This solid Spirit Valley duplex is ready for a new owner! These identical side by side units offer 2 stories, each with private access to their own basement with laundry, formal dining rooms, 3 bedrooms and 1 bath, and decks off of the kitchen. 630 has new paint, carpet, and a new stove and fridge, plus a sauna in the basement. There is off-street parking as well as a 2 car detached garage. The building had a new rubber slope roof put on in 2013. Both units are fully rented and tenants pay all utilities. Each unit has its own boiler, hot water heater, and electrical panel too. The location is great and is within blocks of schools, shopping, the library, the co-op, entertainment, Spirit Mtn Recreation Area, the Superior Hiking Trail, public transit, and much more.

3. 2018-02-02
   soldstatus $160,100
4. 2018-01-18
   soldstatus $160,000 338-char remark

   Show marketing remark (338 chars)

   Denfeld area side by side Duplex with 3 bedrooms & 1 Bath in each unit. Newer low slope roof in 2013, updated flooring and paint in unit 632. Both Apartments have access to their own basement and have rear decks. ALL UTILITIES ARE SEPARATE AND TENANTS PAY WATER, SEWER, GAS. ELECTRICITY. Owner uses 2 car garage as personal storage.

5. 2017-11-08
   listed $169,900 338-char remark

   Show marketing remark (338 chars)

   Denfeld area side by side Duplex with 3 bedrooms & 1 Bath in each unit. Newer low slope roof in 2013, updated flooring and paint in unit 632. Both Apartments have access to their own basement and have rear decks. ALL UTILITIES ARE SEPARATE AND TENANTS PAY WATER, SEWER, GAS. ELECTRICITY. Owner uses 2 car garage as personal storage.

6. 2005-09-30
   soldstatus $159,000

ⓘ 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: $3,882 · $324/mo
• Projected year-2 tax: $3,882 · $324/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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,108
• − Mortgage interest: −$16,805
• − Property taxes: −$3,882
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,369
• − Management: −$3,369
• − Depreciation: −$8,727
• Taxable income: $4,457
• Est. tax owed @ 24.0%: −$1,070
• After-tax cash flow: $7,935/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

+88.7% since first listed

6 events — show timeline

• 2026-05-14 Pending — LSAR
• 2026-04-17 Listed $300,000 LSAR
• 2018-02-02 Sold (Public Records) $160,100 Public Records
• 2018-01-18 Sold (MLS) $160,000 LSAR
• 2017-11-08 Listed $169,900 LSAR
• 2005-09-30 Sold (Public Records) $159,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,882 · -0.2% YoY. Source: county tax records.