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119 N 7th Ave W

Duplex · 2 units: 4 bed / 1 bath and 1 bed / 1 bath · 3,107 sq ft

Duluth, MN · View the listing ↗

Far off
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Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price
$419,900
2 units · $210K per unit
Monthly cash flow
−$974
at 20% down, 7%
Estimated rent
$2,825/mo
high confidence
Break-even price
$236,884
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

This is a big 1888 Duluth duplex asking $419,900, and the numbers don't work at today's rates. Our underwriting shows about -$974 a month and a 3.6% cap rate, and break-even is near $236,884. The listing gives no rents, no lease status, no heat type and no tax figure, and we couldn't match a county parcel, so most of the income and expense picture is unverified. The lower unit is described as '3+ bedrooms', which is vague and may include rooms without egress. Get the rent roll, utility bills, heat type and roof age before a showing. Only tour it if the seller will move far below ask or you plan to live in one unit.

Things to consider

  1. Price far above what the rents support At ask the deal loses roughly $974 a month with a 3.6% cap rate. Break-even is around $237K.
  2. Rents and expenses are unknown With no rent roll, utility info or verified taxes, every income figure rests on our estimates.
  3. Unit mix is lopsided A 1-bed upstairs and a 3+ bed downstairs rent very differently. The large unit may be hard to price and has heavy wear.Listing says: “The upper unit offers 1 bedroom and bath.”
  4. Age and exterior condition of an 1888 building Foundation, roof, wiring and rear stairs could all need big spending that the price doesn't reflect.From photo 2
  5. Parcel and unit count are unverified Without a county match, taxes and licensing are unknown. Confirm the legal unit count and rental license.

From the photos

Listing photo 1
1 of 7Plus

Front elevation is a large, multi-gabled 1888 house with a brick-faced porch and a hillside lawn; the siding appears to be in fair shape from a distance

Listing photo 2
2 of 7Check

Roof shingles look aged, with visible wear on the gables; get the roof age

Listing photo 2
3 of 7Concern

Rear exterior wooden stairs are long and multi-landing; they appear weathered and need a close inspection of posts, treads and railings

Listing photo 2
4 of 7Check

Stone foundation visible at the lower level with a basement window well; check for moisture and mortar condition

Listing photo 2
5 of 7Check

Window air conditioner units are visible on the side, which suggests no central air

Listing photo 2
6 of 7Plus

Paved parking area appears to sit beside the building, supporting the off-street parking claim

Listing photo 1
7 of 7Check

No interior photos of kitchens, baths, mechanicals or basement are shown, so condition can't be judged

Based on 2 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

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
$419,900
Cash to close
$96,577
Price per unit
$209,950
GRM
12.4

Each month

Cash flow
−$974/mo
Cash-on-cash
−12.1%
Cap rate
3.6%
DSCR
0.56×

Break-even

Price that breaks even
$236,884
Rent that breaks even
$4,090/mo

Long run

Year 30: property vs stocks
$979K vs $1.39M
Cash flow turns positive
year 24

Monthly

Monthly breakdown

Rent$2,825
Vacancy (6%)−$170
Collected$2,656
Property tax Listing−$448
Insurance Estimate−$236
Water, sewer, trash Estimate−$170
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$226
Capital reserve (9% of rent)−$254
Net operating income$1,261
Mortgage (principal + interest)−$2,235
Cash flow−$974
Principal paid down (equity, not cash)$284

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$979,427
Your equity when you sell
$958,056

Sells for $1,019,208 (value up 3% a year), minus 6% selling cost ($61,152). Rent paid down $335,920 of loan.

Rental profits, invested at 7%
$21,372

$18,684 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$1,389,883
Cash to close, invested at 7%
$735,169

$96,577 put into an index fund instead of the down payment and closing costs.

Monthly shortfalls, invested
$654,714

$144,625 you'd have paid in while the building lost money, invested instead.

Stocks come out $410,456 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 $979K, stocks $1.39M. Stocks win.

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.

4 bed / 1 bath estimate $1,600/mo · range $1,350–$1,850

AddressRentBd / BaSq ftDistanceListedMatch
831 W 3rd St, Duluth 55806 $1,475 3 / 1 — 0.2 mi 2026-10-05 84%
622 E 8th St, Duluth 55805 $1,950 4 / 1 1,300 1.3 mi 2026-01-29 84%
1712 W 3rd St, Duluth 55806 off market $1,750 3 / 1 — 0.9 mi 2025-11-01 83%
530 N 7th Ave E, Apt 1, Duluth 55805 off market $1,250 3 / 1 — 1.3 mi 2026-04-27 82%
630 W 3rd St, Unit Lower, Duluth 55806 off market $1,200 2 / 1 — 0.1 mi 2026-08-18 75%
825 W 3rd St, Apt 2, Duluth 55806 off market $1,035 2 / 1 — 0.2 mi 2026-08-26 75%
825 W 3rd St, Apt 1, Duluth 55806 off market $1,200 2 / 1 — 0.2 mi 2026-06-11 75%
321-323 N 3rd Ave W, Duluth 55806 off market $1,350 3 / 1 1,124 0.4 mi 2025-10-07 75%
2214 W 3rd St, Duluth 55806 off market $1,450 3 / 1 1,300 1.3 mi 2026-06-16 75%
1102 W 3rd St, Duluth 55806 off market $1,200 1 / 1 — 0.4 mi 2026-07-29 74%

1 bed / 1 bath estimate $1,225/mo · range $1,050–$1,400

AddressRentBd / BaSq ftDistanceListedMatch
1102 W 3rd St, Duluth 55806 off market $1,200 1 / 1 — 0.4 mi 2026-07-29 93%
10 W 1st St, Apt 103, Duluth 55802 off market $1,350 1 / 1 — 0.6 mi 2026-08-12 93%
10 W 1st St, Apt 111, Duluth 55802 off market $1,395 1 / 1 — 0.6 mi 2026-07-17 93%
10 W 1st St, Apt 104, Duluth 55802 off market $1,350 1 / 1 — 0.6 mi 2026-05-26 93%
1 W 4th St, Duluth 55806 $1,500 1 / 1 — 0.7 mi 2026-02-12 93%
1 E 1st St, Ste 210, Duluth 55802 off market $1,250 1 / 1 — 0.6 mi 2026-04-09 93%
1 E 1st St, Ste 301, Duluth 55802 off market $1,025 1 / 1 — 0.6 mi 2026-03-19 93%
9 E 5th St, Unit Lower, Duluth 55805 off market $1,250 1 / 1 — 0.7 mi 2026-05-11 93%
218 E 4th St, Apt 2, Duluth 55805 off market $900 1 / 1 — 0.9 mi 2026-09-02 93%
218 E 4th St, Apt 1, Duluth 55805 off market $975 1 / 1 — 0.9 mi 2026-02-16 93%

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

  • highNo rents, lease terms or income are given, so cash flow can't be checked against actuals Listing says: A solid opportunity for an owner-occupant or investor! · AI review
  • highPrice is far above what estimated rents support Based on: data: underwriting.break_even_price · 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 119 7TH AVE W N
  • mediumAsking is $183,016 above the price where cash flow breaks even ($236,884) at the default scenario. Based on: Derived: price $419,900 vs. break-even $236,884
  • mediumLower unit bedroom count is vague; extra rooms may not be legal bedrooms Listing says: The lower unit provides 3+ bedrooms and 1 bathroom · AI review
  • mediumExterior wood stairs and landings at the rear look weathered; they are a safety and code item Based on: photo 2 · AI review

Opportunities

  • Owner-occupying one unit would offset the negative cash flow Listing says: A solid opportunity for an owner-occupant or investor! · AI review
  • Laundry in each unit and off-street parking help with tenant appeal Listing says: with laundry available in each unit and off-street parking · AI review
  • No rent cap, so rents can follow the market after any updates Based on: data: underwriting.rent_rule · AI review

Questions for the agent

  • What are the current rents and lease status for each unit, and can I see the rent roll and leases?
  • Who pays heat, water and electric, and how many heating systems and meters are there?
  • How many of the lower unit's bedrooms have egress and a closet, and is it licensed as a duplex?
  • How old are the roof, boiler or furnace, electrical panels and the rear stairs?
  • What are the annual taxes, and are there any special assessments?
  • Why has it been on the market 40 days, and has the price changed?

Bottom line

Big, old Duluth duplex priced about $183K above where the numbers break even, so it only works with a major price cut or if you live there. AI-assisted summary

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.$5,379
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,834
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. built 1888: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-08-26 (40 days); last sold for $315,000 on 2024-10-09; listed for rent at $1,350/mo on 2025-05-06.

DateEventPrice
Listed$419,900
Removed—
Removed—
Listed for rent$1,350/mo
Rent changed$1,350/mo
Listed for rent$1,800/mo
Sold$315,000
Listed$315,000
Removed—
Listed$325,000
Sold$215,000
Listed$189,900
Sold$124,250
Relisted$139,000
Removed$139,000
Listed$139,000
Removed$149,900
Listed$149,900
Removed$149,900
Listed$149,900
Sold public record$66,000

From the listing Listing

Listed asduplex
Property tax, 2026$5,379
CountySt. Louis County
Parcel number010-1230-02850

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 Duluth on rental licensing before you buy.