2503 Springvale Rd · Duluth, MN 55811

$274,900

3 bd · 2.0 ba · 1,104 sqft · SingleFamily public records · 1 Days on market

Built 1900 0.32 ac lot Est $265k · at est.

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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 +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• ARV discount +5.8/15.0
• 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

Welcome to this beautiful one-level ranch in the heart of Piedmont Heights. This home has been pre-inspected and features a brand-new furnace. Additional updates include a new roof (50 yr shingle), water heater, and vinyl siding, all completed in 2025. Inside, you’ll find brand-new carpet throughout, every room freshly painted, new stove, and several new light fixtures. The home offers four bedrooms and two bathrooms, all conveniently located on one level. Situated on a lovely corner lot with perennial beds and mature trees. The property includes a detached two-car garage and a freshly painted deck off the back—perfect for relaxing or entertaining. Schedule your showing today&md

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Property type: Residential

Exterior

• Parking: Detached garage; 2 garage spaces; Off-street parking on asphalt
• Utilities: Public water; Public sewer
• Home design: Single-family detached home; Single-story
• Construction: Wood-frame construction
• Exterior features: Asphalt shingle roof; Corner lot (70 x 180)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master on main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Master bedroom on the main level; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Cap rate 8.8% 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 45% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $274,900

Questions for the listing agent

1. Built in 1900 — 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: 1.08% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $264,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2509 Springvale Rd	0.02mi	3/1.5	1,266 (+15%)	1mo	$239,900	$189	72
2219 Hoover St	0.14mi	3/1.5	1,078 (-2%)	22mo	$249,000	$231	69
2445 Morris Thomas Rd	0.44mi	2/2.0 (-1)	1,068 (-3%)	3mo	$242,500	$227	67
2106 Piedmont Ave	0.38mi	4/1.5 (+1)	1,106 (+0%)	12mo	$300,000	$271	65
2229 Hillcrest Dr	0.29mi	2/1.0 (-1)	1,055 (-4%)	12mo	$208,000	$197	60
3620 Chambersburg Ave	0.63mi	3/2.0	1,116 (+1%)	12mo	$367,000	$329	58
1730 Piedmont Ave	0.55mi	2/2.0 (-1)	1,044 (-5%)	11mo	$240,000	$230	51
2309 Ozark St	0.47mi	2/1.0 (-1)	1,098 (-0%)	21mo	$266,000	$242	51
2440 Hutchinson Rd	0.60mi	3/2.0	1,228 (+11%)	6mo	$445,000	$362	48
2610 Harvey St	0.55mi	2/1.0 (-1)	1,152 (+4%)	21mo	$277,000	$240	41
2929 Piedmont Ave	0.60mi	2/1.0 (-1)	990 (-10%)	11mo	$230,000	$232	37
1920 Gearhart St	0.62mi	2/2.0 (-1)	1,236 (+12%)	17mo	$299,900	$243	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 · 4.6% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-3,315
• Equity at exit: $40,988

10-year hold

• IRR: 10.1%
• Equity multiple: 1.84×
• Total profit: $64,527
• Equity at exit: $23,768

Cash invested: $76,972 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,982 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$228 /mo · $2,738/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $571

Break-even live

Break-even rent $2,259

Max offer price $274,900

Occupancy floor 76%

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: $68,725
• Closing costs: $8,247
• 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	43d	1	0.30mi
505 W Orange St Duluth, MN	3.0	1.0	1022	$3,500	$3.42	43d	1	1.14mi

Listing history 4 events

1. 2026-06-05
   statusdays on marketlisting id $274,900 Pending 1 DOM
2. 2026-06-03
   days on market $274,900 Active 2 DOM
3. 2026-06-01
   remarks 687-char remark
4. 2026-06-01
   listed $274,900 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: $2,738 · $228/mo
• Projected year-2 tax: $2,908 · $242/mo
• Expected delta: +$170/yr (+$14/mo · 6.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $35,780
• − Mortgage interest: −$15,399
• − Property taxes: −$2,738
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − Depreciation: −$7,997
• Taxable income: $2,547
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $6,243/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

1 event — show timeline

• 2026-06-01 Listed $274,900 LSAR

Property tax history

+5.6%/yr

Latest (2025): $2,738 · +1.6% YoY. Source: county tax records.