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1317 E 13th Ave

Duplex · 2 units: 2 bed / 1 bath and 3 bed / 1 bath · 1,920 sq ft

Hibbing, MN · View the listing ↗

Cash flows
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Photos courtesy of PERRELLA & ASSOCIATES - Broker, via Realtor.com.

Asking price
$169,900
2 units · $85K per unit
Monthly cash flow
$465
at 20% down, 7%
Estimated rent
$2,675/mo
high confidence
Break-even price
$257,247
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a 1925 up/down duplex in Hibbing at $169,900, and the seller used it for family, so there is no rent history at all. Our estimates (about $1,250 for the 2-bed, $1,425 for the 3-bed) give roughly $465/mo cash flow and a 9.7% cap at the ask, but those are estimates, not income, and taxes are unverified because the county parcel didn't match. The photos show a newer furnace and carpet, but dated kitchens and a very small window into the building: no baths, no electrical panel, no upper unit. First, confirm it is legally two units and rentable as-is (rental license, separate meters, egress), then get real tax numbers. It's worth a showing if the unit setup checks out, since the price is low against the rent estimates, but it has been listed 67 days, so ask why.

Things to consider

  1. No rent history Family-used property means estimates are the only guide. Cash flow depends on rents you haven't seen.Listing says: “This property was used for family and not rented.”
  2. Unit legality and metering unverified The county record didn't match, so unit count and licensing are unconfirmed, which affects financing, insurance and rentability.
  3. Price looks low against estimated rents Break-even price of $257K versus the $169.9K ask suggests room for error, if estimates and taxes hold up.
  4. Dated finishes may limit rents Original-looking kitchens and paneling could need updates to reach the mid estimates and may push up turnover costs.From photo 6
  5. Garages add storage and possible income Two large detached garages are a draw for tenants in a cold climate and may be rented separately.Listing says: “Two large detached garages with great parking space.”
  6. Time on market 67 days listed suggests some room to negotiate, or a reason buyers are passing.

From the photos

Listing photo 8
1 of 8Check

Newer high-efficiency Lennox furnace appears to be a single unit in the basement, possibly serving both apartments

Listing photo 1
2 of 8Plus

Metal roof on the house and the outbuilding looks in good shape

Listing photo 6
3 of 8Concern

Kitchen has oak cabinets, laminate counters, a basic electric range and wallpaper; looks dated but usable

Listing photo 1
4 of 8Check

Vinyl or aluminum siding looks clean, with a central AC condenser outside; paint on the trim near the roofline appears worn

Listing photo 2
5 of 8Check

Interior has newer-looking carpet and paneled walls; finishes appear cosmetic and dated

Listing photo 2
6 of 8Check

No photos of the upstairs unit, bathrooms, electrical panel or water heater

Listing photo 9
7 of 8Plus

Detached outbuilding with a separate door and windows appears to be a small garage or shed, in good exterior condition

Listing photo 1
8 of 8Plus

Corner lot with a fenced grass yard and a side porch entry

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

Condition and repairs

  • doneDescribed as very well maintained with many updates; no specifics givenListing says: The home is very well maintained and has many updates.

AI-assisted first read of the listing description and photos (Claude), checked against public records. Every rent and repair above quotes the listing; verify with the agent, leases and an inspection.

The numbers

Down payment %
Offer $
Management
Interest rate %
Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price
$169,900
Cash to close
$39,077
Price per unit
$84,950
GRM
5.3

Each month

Cash flow
$465/mo
Cash-on-cash
14.3%
Cap rate
9.7%
DSCR
1.51×

Break-even

Price that breaks even
$257,247
Rent that breaks even
$2,079/mo

Long run

Year 30: property vs stocks
$1.43M vs $297K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$2,675
Vacancy (6%)−$160
Collected$2,514
Property tax Estimate−$297
Insurance Estimate−$190
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$214
Capital reserve (8% of rent)−$214
Net operating income$1,369
Mortgage (principal + interest)−$904
Cash flow$465
Principal paid down (equity, not cash)$115

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

If you buy this building$1,426,312
Your equity when you sell
$387,648

Sells for $412,392 (value up 3% a year), minus 6% selling cost ($24,744). Rent paid down $135,920 of loan.

Rental profits, invested at 7%
$1,038,664

$421,290 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$297,464
Cash to close, invested at 7%
$297,464

$39,077 put into an index fund instead of the down payment and closing costs.

The building comes out $1,128,848 ahead after 30 years.

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.43M, stocks $297K. The property wins.

Comparable rentals

Nearby rentals RentCast matched to each unit type, as of 2026-10-05. The estimate above is RentCast's, weighted toward the closest matches.

2 bed / 1 bath estimate $1,250/mo · range $1,100–$1,375

AddressRentBd / BaSq ftDistanceListedMatch
1114 E 22nd St, Hibbing 55746 off market $900 2 / 1 — 0.7 mi 2026-06-02 93%
100 Southview Dr, Hibbing 55746 $990 2 / 1 792 0.5 mi 2026-10-05 85%
3505 9th Ave W, Hibbing 55746 $748 2 / 1 627 2.2 mi 2024-11-16 81%
1626 5th Ave E, Hibbing 55746 $1,100 2 / 1 — 0.5 mi 2026-10-05 79%
2918 4th Ave W, Unit Main, Hibbing 55746 off market $1,300 3 / 2 — 1.6 mi 2026-06-17 77%
602 5th St NW, Unit 1, Chisholm 55719 off market $1,100 2 / 1 — 4.5 mi 2025-12-02 73%
2023 7th Ave E, Hibbing 55746 off market $940 1 / 1 546 0.7 mi 2025-10-01 72%
2316 2nd Ave W, Apt 4, Hibbing 55746 off market $900 1 / 1 500 1.1 mi 2024-12-29 71%
600 E 40th St, Hibbing 55746 $995 1 / 1 599 2.3 mi 2025-04-16 71%
1129 16th Ave E, Hibbing 55746 off market $1,100 3 / 1 — 0.2 mi 2025-11-22 70%

3 bed / 1 bath estimate $1,425/mo · range $1,200–$1,650

AddressRentBd / BaSq ftDistanceListedMatch
2918 4th Ave W, Unit Main, Hibbing 55746 off market $1,300 3 / 2 — 1.6 mi 2026-06-17 87%
1114 E 22nd St, Hibbing 55746 off market $900 2 / 1 — 0.7 mi 2026-06-02 83%
1129 16th Ave E, Hibbing 55746 off market $1,100 3 / 1 — 0.2 mi 2025-11-22 79%
1719 3rd Ave E, Hibbing 55746 $1,250 3 / 1 — 0.7 mi 2026-10-05 79%
2412 4th Ave E, Hibbing 55746 off market $1,100 3 / 1 — 1.0 mi 2026-06-17 78%
3748 4th Ave E, Hibbing 55746 $1,275 3 / 1 — 2.1 mi 2026-10-02 77%
100 Southview Dr, Hibbing 55746 $990 2 / 1 792 0.5 mi 2026-10-05 76%
2709 Diane Ln, Hibbing 55746 off market $1,850 3 / 2 — 1.2 mi 2026-03-30 73%
8 1/2 W Lake St, Chisholm 55719 $1,250 3 / 1 — 4.4 mi 2026-10-05 73%
2918 4th Ave W, Hibbing 55746 $1,300 3 / 2 — 1.6 mi 2026-06-17 73%

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: RentCast. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

  • highOwner-occupied/family use means no rent history, no leases and no proof the units rent at estimates Listing says: This property was used for family and not rented. · AI review
  • mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 1317 13TH AVE E
  • mediumDescription says 'many updates' but names none; ask for a dated list and permits Listing says: The home is very well maintained and has many updates. · AI review
  • mediumBoth units appear to share one forced-air furnace, so heat metering and who pays is unclear Based on: photo 8 · AI review

Opportunities

  • Two large detached garages could be rented to tenants or separately for extra income Listing says: Two large detached garages with great parking space. · AI review
  • Rents are untested, and a purchase at this price against estimates leaves room for cash flow if both units rent at market Based on: data: rent_estimate · AI review
  • Fenced yard and patio add appeal for tenants Based on: photo 1 · AI review

Questions for the agent

  • Is this legally a duplex, and does it have, or can it get, a city rental license?
  • Does each unit have its own furnace, water heater and electric meter, or are they shared?
  • What are the actual annual taxes, and was the property homesteaded?
  • What were the 'many updates', and when were the roof, wiring and plumbing done?
  • Why has it been listed for 67 days, and has the price changed?
  • Is the upstairs unit accessed by a separate entrance, and what is the egress layout?

Bottom line

Cheap duplex with decent estimated cash flow, but it's never been rented, so verify the unit setup, taxes and real rents before trusting the numbers. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Estimateestimate. No tax record found; 2.1% of price.$3,568
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,280
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal$60
Repairs / capital reserve Rulerule. base rate8% / 8%

Price history Realtor.com

On the market since 2026-07-30 (67 days).

DateEventPrice
Listed$169,900

From the listing Listing

Listed asduplex

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Hibbing on rental licensing before you buy.