3067 Restormel St · Duluth, MN 55806

$150,000

3 bd · 2.0 ba · 1,078 sqft · SingleFamily public records · 3 Days on market

Built 1914 3,484 sqft lot Est $182k · 18% 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 +9.4/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into the opportunity to create a home that truly reflects your style. This 3-bedroom, 1.5-bath property offers solid bones and a thoughtful layout, making it an ideal choice for anyone looking to build equity or invest in their next project. The living room features wood floors, while a separate dining room provides a dedicated space for everyday meals. The kitchen includes newer appliances and offers convenient access to the backyard, where you’ll step right out into the fenced-in yard. The yard is perfect for pets, gardening, or creating your own outdoor retreat. The 22x24 1-car garage offers more than just parking, with room for recreational vehicles such as a boat, snowmobile, or ATV. Additional updates include a new sump pump installed in April 2026, along with the I & I Compliance inspection already passed and completed. With key features already in place and room to continue updating over time, this home offers great potential to update while living in the home. Whether you’re a first-time buyer ready to make a space your own or an investor searching for your next opportunity, this property is ready for your vision. Just imagine what new floor coverings and fresh paint could do to transform this home. Schedule your showing today!

Key facts

• Wood floors
• Separate dining room
• Newer appliances

Tags

• WOOD FLOORS
• SEPARATE DINING ROOM
• NEWER APPLIANCES
• FENCED-IN YARD
• ROOM FOR RECREATIONAL VEHICLES
• 200-AMP ELECTRICAL SERVICE

Property features AI

Exterior

• Parking: Detached or attached 1-car garage (22 x 24)
• Utilities: City water (connected); City sewer (connected); Electric service by Minnesota Power; Oil fuel
• Home design: Residential property; One and one-half levels; Main living area and additional finished space below grade
• Construction: Frame construction; Asphalt roof; Block foundation
• Exterior features: Storage shed; Lot approximately 33 x 110 (0.08 acres); Public maintained road access

Interior

• Kitchen: Kitchen with range, dishwasher, and refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom; 1 quarter bathroom; Full bath located on upper level and additional bath in basement
• Heating & cooling: Forced air heating; No central air
• Interior features: Dishwasher; Range; Refrigerator; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.9% 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.
• Zoned schools: Piedmont Elementary (math 42% / reading 37%, grade F, #604 of 857 statewide, top 74%, 426 students, 63% FRL); Lincoln Park Middle School (math 26% / reading 39%, grade F, #186 of 258 statewide, top 72%, 524 students, 66% FRL); Denfeld High School (math 32% / reading 42%, grade F, #282 of 471 statewide, top 63%, 940 students, 56% FRL) — zoned schools average 62% FRL vs 39% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Duluth Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 45 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,153/mo this rent would consume 60% of the median local household income ($43k/yr) (locally 506% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 16y 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 $105k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $150,000

Questions for the listing agent

1. Built in 1914 — 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: 1.44% ✓
• Cap rate: 11.85%
• Cash-on-cash: 19.86%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $182,182
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3337 Vernon St	0.24mi	3/1.0	1,103 (+2%)	1mo	$165,000	$150	80
520 Winnipeg Ave	0.32mi	3/1.5	1,121 (+4%)	6mo	$190,000	$169	71
2973 Devonshire St	0.08mi	2/1.0 (-1)	996 (-8%)	11mo	$165,000	$166	66
518 Winnipeg Ave	0.31mi	2/1.0 (-1)	1,047 (-3%)	11mo	$175,000	$167	62
3118 Exeter St	0.16mi	2/1.0 (-1)	1,164 (+8%)	10mo	$231,900	$199	62
3215 Vernon St	0.11mi	2/1.0 (-1)	1,205 (+12%)	8mo	$227,500	$189	59
417 N 38th Ave Ave W	0.60mi	2/1.5 (-1)	1,082 (+0%)	8mo	$235,000	$217	58
3916 W 4th St	0.72mi	3/1.5	1,005 (-7%)	2mo	$250,000	$249	52
3925 Grand Ave	0.75mi	3/1.0	1,000 (-7%)	0mo	$140,000	$140	49
3721 W 4th St	0.54mi	2/1.0 (-1)	1,008 (-6%)	9mo	$214,900	$213	47
2229 W 7th St	0.74mi	3/1.0	1,209 (+12%)	3mo	$177,500	$147	38
3924 W 4th St	0.74mi	2/1.0 (-1)	1,207 (+12%)	14mo	$180,000	$149	25

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $19,969
• Equity at exit: $22,365

10-year hold

• IRR: 20.9%
• Equity multiple: 2.77×
• Total profit: $74,437
• Equity at exit: $12,969

Cash invested: $42,000 (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 55806

• Active inventory: 45
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,153 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$157 /mo · $1,882/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $695

Break-even live

Break-even rent $1,273

Max offer price $150,000

Occupancy floor 63%

Sensitivity live

Price	-10% $780	-5% $737	+0% $695	+5% $652	+10% $610
Rent	-10% $525	-5% $610	+0% $695	+5% $780	+10% $865
Rate	-1.0pp $770	-0.5pp $733	base $695	+0.5pp $656	+1.0pp $617

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 W Superior St Duluth, MN	2.0	1.0–2.0	670	$1,844	$2.75	15d	12	0.98mi
2302 Hillcrest Dr Duluth, MN	3.0	1.5	1072	$3,500	$3.26	45d	1	1.36mi

Listing history 11 events

1. 2026-05-15
   status Pending

   Show marketing remark (1277 chars)

   Step into the opportunity to create a home that truly reflects your style. This 3-bedroom, 1.5-bath property offers solid bones and a thoughtful layout, making it an ideal choice for anyone looking to build equity or invest in their next project. The living room features wood floors, while a separate dining room provides a dedicated space for everyday meals. The kitchen includes newer appliances and offers convenient access to the backyard, where you’ll step right out into the fenced-in yard. The yard is perfect for pets, gardening, or creating your own outdoor retreat. The 22x24 1-car garage offers more than just parking, with room for recreational vehicles such as a boat, snowmobile, or ATV. Additional updates include a new sump pump installed in April 2026, along with the I & I Compliance inspection already passed and completed. With key features already in place and room to continue updating over time, this home offers great potential to update while living in the home. Whether you’re a first-time buyer ready to make a space your own or an investor searching for your next opportunity, this property is ready for your vision. Just imagine what new floor coverings and fresh paint could do to transform this home. Schedule your showing today!

2. 2026-05-15
   status Pending 1277-char remark

   Show marketing remark (1277 chars)

   Step into the opportunity to create a home that truly reflects your style. This 3-bedroom, 1.5-bath property offers solid bones and a thoughtful layout, making it an ideal choice for anyone looking to build equity or invest in their next project. The living room features wood floors, while a separate dining room provides a dedicated space for everyday meals. The kitchen includes newer appliances and offers convenient access to the backyard, where you’ll step right out into the fenced-in yard. The yard is perfect for pets, gardening, or creating your own outdoor retreat. The 22x24 1-car garage offers more than just parking, with room for recreational vehicles such as a boat, snowmobile, or ATV. Additional updates include a new sump pump installed in April 2026, along with the I & I Compliance inspection already passed and completed. With key features already in place and room to continue updating over time, this home offers great potential to update while living in the home. Whether you’re a first-time buyer ready to make a space your own or an investor searching for your next opportunity, this property is ready for your vision. Just imagine what new floor coverings and fresh paint could do to transform this home. Schedule your showing today!

3. 2026-05-12
   listed $150,000 Active

   Show marketing remark (1277 chars)

   Step into the opportunity to create a home that truly reflects your style. This 3-bedroom, 1.5-bath property offers solid bones and a thoughtful layout, making it an ideal choice for anyone looking to build equity or invest in their next project. The living room features wood floors, while a separate dining room provides a dedicated space for everyday meals. The kitchen includes newer appliances and offers convenient access to the backyard, where you’ll step right out into the fenced-in yard. The yard is perfect for pets, gardening, or creating your own outdoor retreat. The 22x24 1-car garage offers more than just parking, with room for recreational vehicles such as a boat, snowmobile, or ATV. Additional updates include a new sump pump installed in April 2026, along with the I & I Compliance inspection already passed and completed. With key features already in place and room to continue updating over time, this home offers great potential to update while living in the home. Whether you’re a first-time buyer ready to make a space your own or an investor searching for your next opportunity, this property is ready for your vision. Just imagine what new floor coverings and fresh paint could do to transform this home. Schedule your showing today!

4. 2026-05-12
   listed $150,000 Active 1277-char remark

   Show marketing remark (1277 chars)

   Step into the opportunity to create a home that truly reflects your style. This 3-bedroom, 1.5-bath property offers solid bones and a thoughtful layout, making it an ideal choice for anyone looking to build equity or invest in their next project. The living room features wood floors, while a separate dining room provides a dedicated space for everyday meals. The kitchen includes newer appliances and offers convenient access to the backyard, where you’ll step right out into the fenced-in yard. The yard is perfect for pets, gardening, or creating your own outdoor retreat. The 22x24 1-car garage offers more than just parking, with room for recreational vehicles such as a boat, snowmobile, or ATV. Additional updates include a new sump pump installed in April 2026, along with the I & I Compliance inspection already passed and completed. With key features already in place and room to continue updating over time, this home offers great potential to update while living in the home. Whether you’re a first-time buyer ready to make a space your own or an investor searching for your next opportunity, this property is ready for your vision. Just imagine what new floor coverings and fresh paint could do to transform this home. Schedule your showing today!

5. 2016-11-16
   soldstatus $105,000
6. 2013-06-03
   soldstatus $82,000
7. 2013-05-10
   soldstatus $82,000 271-char remark

   Show marketing remark (271 chars)

   Neat-Sweet-Complete Well cared for3 bedroom, 1 1/2 bathroom, 2 car insulated garage with 220 amp. Features include newer kitchen, windows, roof, siding, furnace, house reinsulated in 2009, fenced in backyard with deck, central air. Convenient to schools, parks, banks etc

8. 2012-11-21
   listed $90,900 271-char remark

   Show marketing remark (271 chars)

   Neat-Sweet-Complete Well cared for3 bedroom, 1 1/2 bathroom, 2 car insulated garage with 220 amp. Features include newer kitchen, windows, roof, siding, furnace, house reinsulated in 2009, fenced in backyard with deck, central air. Convenient to schools, parks, banks etc

9. 2012-08-08
   listed $90,900
10. 2012-05-02
    listed $94,900
11. 2010-09-01
    listed $99,900

ⓘ 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: $1,882 · $157/mo
• Projected year-2 tax: $1,882 · $157/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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 13 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: $25,836
• − Mortgage interest: −$8,402
• − Property taxes: −$1,882
• − Insurance: −$750
• − Repairs & maintenance: −$2,067
• − Management: −$2,067
• − Depreciation: −$4,364
• Taxable income: $6,305
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $6,826/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): 9,356
• Household income: $42,833
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 506.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 7% Black 7% Native American 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Portuguese 10% Romanian 5% Scottish 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% Chinese 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: ▼ -122.85%
• Current HPI: 195.9805
• 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

+50.2% since first listed

11 events — show timeline

• 2026-05-15 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-15 Pending — LSAR
• 2026-05-12 Listed $150,000 LSAR
• 2026-05-12 Listed $150,000 NORTHSTARMLS as Distributed by MLS Grid
• 2016-11-16 Sold (Public Records) $105,000 Public Records
• 2013-06-03 Sold (Public Records) $82,000 Public Records
• 2013-05-10 Sold (MLS) $82,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-21 Listed $90,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-08-08 Listed $90,900 NORTHSTARMLS as Distributed by MLS Grid
• 2012-05-02 Listed $94,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-09-01 Listed $99,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+9.5%/yr

Latest (2025): $1,882 · +24.8% YoY. Source: county tax records.