401 Center Ave · Hibbing, MN 55746

$150,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 22 Days on market

Built 1930 6,098 sqft lot Est $103k · 46% 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 +24.8/30.0
• DSCR +8.1/10.0
• 1% rule +5.3/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come sit on the porch and enjoy the view from this manicured corner lot. Spacious living room dining with open concept & fireplace. Kitchen has ample storage. 3 bedroom home. Landscaped with perrenals Metal roof. 30x30 garage with insulated doors. Short walk to the Kelly Lake beach.

Key facts

• Well manicured lawn
• Dining room area
• Front porch

Tags

• CORNER LOT
• SPACIOUS LIVING ROOM
• DINING ROOM AREA
• WELL MANICURED LAWN
• FRONT PORCH
• GARAGE WITH STORAGE SPACE

Property features AI

Exterior

• Parking: 3-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Frame and stucco construction
• Exterior features: Covered porch; Partial fencing; Metal roof

Interior

• Kitchen: Gas range; Refrigerator
• Heating & cooling: Forced-air heating; Natural gas
• Interior features: Gas-log fireplace; Full basement
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 6.4% in Hibbing — 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 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; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• This rent runs 33% 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 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 $96k; list at $150k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
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: 1.03% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $102,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 W 1st St	0.23mi	2/1.0 (-1)	1,086 (+1%)	5mo	$101,000	$93	79
310 N 1st Ave	0.65mi	2/1.0 (-1)	996 (-8%)	12mo	$95,000	$95	42

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,065
• Equity at exit: $22,365

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $22,360
• 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 55746

• Home prices YoY: -18.7%
• Active inventory: 96
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,546 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$53 /mo · $640/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $319

Break-even live

Break-even rent $1,142

Max offer price $150,000

Occupancy floor 74%

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: —

Listing history 24 events

1. 2026-06-19
   days on market $150,000 Active 22 DOM
2. 2026-06-18
   days on market $150,000 Active 21 DOM
3. 2026-06-17
   days on market $150,000 Active 20 DOM
4. 2026-06-16
   days on market $150,000 Active 19 DOM
5. 2026-06-15
   days on market $150,000 Active 18 DOM
6. 2026-06-14
   days on market $150,000 Active 16 DOM
7. 2026-06-13
   days on market $150,000 Active 15 DOM
8. 2026-06-10
   days on market $150,000 Active 13 DOM
9. 2026-06-09
   days on market $150,000 Active 12 DOM
10. 2026-06-08
    days on market $150,000 Active 11 DOM
11. 2026-06-07
    days on market $150,000 Active 10 DOM
12. 2026-06-05
    days on market $150,000 Active 7 DOM
13. 2026-06-03
    days on market $150,000 Active 6 DOM
14. 2026-06-02
    days on market $150,000 Active 5 DOM
15. 2026-06-01
    days on market $150,000 Active 4 DOM
16. 2026-05-31
    days on market $150,000 Active 3 DOM
17. 2026-05-30
    days on market $150,000 Active 2 DOM
18. 2026-05-28
    listed $150,000 Active
19. 2021-08-10
    soldstatus $96,000
20. 2021-07-15
    soldstatus $96,000 290-char remark

    Show marketing remark (290 chars)

    Come sit on the porch and enjoy the view from this manicured corner lot. Spacious living room dining with open concept & fireplace. Kitchen has ample storage. 3 bedroom home. Landscaped with perrenals Metal roof. 30x30 garage with insulated doors. Short walk to the Kelly Lake beach.

21. 2021-06-17
    listed $88,000 290-char remark

    Show marketing remark (290 chars)

    Come sit on the porch and enjoy the view from this manicured corner lot. Spacious living room dining with open concept & fireplace. Kitchen has ample storage. 3 bedroom home. Landscaped with perrenals Metal roof. 30x30 garage with insulated doors. Short walk to the Kelly Lake beach.

22. 2017-09-14
    soldstatus $69,900
23. 2017-08-04
    soldstatus $69,900 183-char remark

    Show marketing remark (183 chars)

    Well maintained home with manicured corner lot, newer 30' x 30' garage, front porch, metal roof, main floor bath with walk-in shower, 3 bedrooms on one level and clean inside and out!

24. 2017-06-27
    listed $69,900 183-char remark

    Show marketing remark (183 chars)

    Well maintained home with manicured corner lot, newer 30' x 30' garage, front porch, metal roof, main floor bath with walk-in shower, 3 bedrooms on one level and clean inside and out!

ⓘ 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: $640 · $53/mo
• Projected year-2 tax: $1,160 · $97/mo
• Expected delta: +$520/yr (+$43/mo · 81.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,550
• − Mortgage interest: −$8,402
• − Property taxes: −$640
• − Insurance: −$750
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$4,364
• Taxable income: $1,426
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $3,483/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

+114.6% since first listed

7 events — show timeline

• 2026-05-28 Listed $150,000 RAOR
• 2021-08-10 Sold (Public Records) $96,000 Public Records
• 2021-07-15 Sold (MLS) $96,000 RAOR
• 2021-06-17 Listed $88,000 RAOR
• 2017-09-14 Sold (Public Records) $69,900 Public Records
• 2017-08-04 Sold (MLS) $69,900 RAOR
• 2017-06-27 Listed $69,900 RAOR

Property tax history

+15.2%/yr

Latest (2025): $640 · -46.3% YoY. Source: county tax records.