515 S 5th Ave · Virginia, MN 55792

$25,000

2 bd · 2.0 ba · 1,470 sqft · Other public records · 139 Days on market

Built 1903 3,484 sqft lot ↓ 11% since listing

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

Key facts

• Newer roof
• Newer siding
• 3,484 sq ft lot

Tags

• NEWER SIDING
• NEWER ROOF

Property features AI

Finance

• Financial info: Cash mortgage type indicated

Exterior

• Parking: Detached or attached garage not specified; one garage space (20 x 20)
• Utilities: City water available in the street; City sewer available in the street; Natural gas service; Power provided by Virginia Public Utilities
• Home design: Residential property; Two levels
• Construction: Foundation area approximately 902; Foundation dimensions 22 x 41
• Exterior features: Vinyl exterior; Porch; Medium tree coverage on the lot; City street frontage, public maintained road; Lot approximately 0.08 acres (109 x 32)

Interior

• Kitchen: Main-level kitchen
• Bedrooms: Three bedrooms total, two located on the upper level
• Bathrooms: Two full bathrooms
• Heating & cooling: No heating system listed; No cooling system listed
• Interior features: Main-level foyer; Main-level living room; Upper-level bedrooms; Unfinished room/area (basement or lower level); Basement with block walls, unfinished
• Laundry & utility: Basement/unfinised area for utility or storage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $798 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 44.6% vs local median 7.5% in Virginia — 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 63/100 on livability (#664 in MN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime D, health & safety D.
• Market conditions: 64 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y ago; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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 1903 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 4.92% ✓
• Cap rate: 44.61%
• Cash-on-cash: 136.85%
• DSCR: 7.09
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.69×
• Total profit: $46,811
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 16.19×
• Total profit: $106,306
• Equity at exit: $2,162

Cash invested: $7,000 (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 55792

• Home prices YoY: -26.5%
• Active inventory: 64
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $798

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 30%

Sensitivity live

Price	-10% $816	-5% $807	+0% $798	+5% $790	+10% $781
Rent	-10% $701	-5% $750	+0% $798	+5% $847	+10% $895
Rate	-1.0pp $811	-0.5pp $805	base $798	+0.5pp $792	+1.0pp $785

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 2nd St N Unit 2 Virginia, MN	3.0	1.0	970	$1,535	$1.58	13d	1	0.53mi

Listing history 28 events

1. 2026-05-18
   status Pending 191-char remark

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

2. 2026-05-18
   status Pending

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

3. 2026-04-10
   price $25,000 191-char remark

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

4. 2026-04-10
   price $25,000

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

5. 2025-12-30
   listed $30,000 Active 191-char remark

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

6. 2025-12-30
   listed $30,000 Active

   Show marketing remark (191 chars)

   Who's ready for a project? This home has newer siding and roof. The demo is completed so your creativity can run wild. Unlock potential in this fixer upper! Reach out for a private showing!

7. 2023-12-01
   soldstatus $25,000 Closed 191-char remark

   Show marketing remark (191 chars)

   Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

8. 2023-12-01
   soldstatus $25,000

   Show marketing remark (191 chars)

   Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

9. 2023-11-20
   status Pending 191-char remark

   Show marketing remark (191 chars)

   Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

10. 2023-11-04
    price $25,000 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

11. 2023-10-19
    price $27,000 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

12. 2023-10-09
    price $28,000 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

13. 2023-09-11
    price $28,500 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

14. 2023-08-31
    status Active 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

15. 2023-08-17
    historical 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

16. 2023-08-12
    status Active 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

17. 2023-08-12
    price $30,000 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

18. 2023-08-02
    historical 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

19. 2023-07-30
    price $35,000 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

20. 2023-07-19
    listed $38,000 Active 191-char remark

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

21. 2023-07-19
    listed $25,000

    Show marketing remark (191 chars)

    Handyman special, but the demo work is already done! Let your imagination run wild and make this your own castle! Newer siding and roof. This is a great opportunity to make some sweat equity!

22. 2021-09-09
    soldstatus $20,000
23. 2021-03-25
    listed $20,000
24. 2009-10-14
    soldstatus $29,500
25. 2009-10-07
    soldstatus $29,500
26. 2009-08-26
    listed $29,000
27. 2006-02-06
    soldstatus $60,000
28. 1999-08-31
    soldstatus $28,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,750
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$727
• Taxable income: $9,762
• Est. tax owed @ 24.0%: −$2,343
• After-tax cash flow: $7,236/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)

No district data.

Livability — Virginia

• Score: 63/100
• State rank: #664
• US rank: #15991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Virginia, MN
• County: Saint Louis County · 115,152 people
• City population: 9,663
• Metro: Duluth, MN-WI
• Population (ZIP): 9,663
• Household income: $53,750
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 286.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Native American 3% Asian 1%
• Common ancestry: Portuguese 12% Romanian 4% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -72.05%
• Current HPI: 199.7165
• 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

-10.7% since first listed

28 events — show timeline

• 2026-05-18 Pending — RAOR
• 2026-05-18 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $25,000 RAOR
• 2026-04-10 Price Changed $25,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-30 Listed $30,000 RAOR
• 2025-12-30 Listed $30,000 NORTHSTARMLS as Distributed by MLS Grid
• 2023-12-01 Sold (MLS) $25,000 LSAR
• 2023-12-01 Sold (MLS) $25,000 RAOR
• 2023-11-20 Pending — RAOR
• 2023-11-04 Price Changed $25,000 RAOR
• 2023-10-19 Price Changed $27,000 RAOR
• 2023-10-09 Price Changed $28,000 RAOR
• 2023-09-11 Price Changed $28,500 RAOR
• 2023-08-31 Relisted — RAOR
• 2023-08-17 Delisted — RAOR
• 2023-08-12 Relisted — RAOR
• 2023-08-12 Price Changed $30,000 RAOR
• 2023-08-02 Delisted — RAOR
• 2023-07-30 Price Changed $35,000 RAOR
• 2023-07-19 Listed $25,000 LSAR
• 2023-07-19 Listed $38,000 RAOR
• 2021-09-09 Sold (MLS) $20,000 RAOR
• 2021-03-25 Listed $20,000 RAOR
• 2009-10-14 Sold (Public Records) $29,500 Public Records
• 2009-10-07 Sold (MLS) $29,500 RAOR
• 2009-08-26 Listed $29,000 RAOR
• 2006-02-06 Sold (Public Records) $60,000 Public Records
• 1999-08-31 Sold (Public Records) $28,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $2,508 · +123.1% YoY. Source: county tax records.