Cash flows18 days on market
12 E 5th St, Duluth
Triplex · 3 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath · 2,250 sq ft · View the listing ↗
Photos, via Realtor.com.
+$1,042 monthly cash flow
After every cost, including reserves for vacancy and repairs, this triplex puts about $1,042 a month in your pocket. That’s a 25.9% yearly return on the $48,277 you’d put in.
At $209,900, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 25.9% Yearly cash flow ÷ cash in
- Cap rate
- 12.3% Return if you paid all cash
- Cash to close
- $48,277 Down payment + closing costs
- Break-even price
- $405,725 Most you can pay and still cash flow
The listing, and how its numbers compare
MLS #7160321What the seller says
Investment opportunity in a convenient Duluth location! This 2,250 sq. ft. triplex offers three separate units and plenty of upside. Unit A features 2 bedrooms and 1 bath, Unit B offers 2 bedrooms and 1 bath, and Unit C offers 1 bedroom and 1 bath. Extra Info The property is conveniently located near downtown Duluth, area hospitals, bus lines, and other amenities. It also has a strong rental history, with the units historically showing solid occupancy. Extra Info Recent improvements include a roof replacement in 2019, a water heater in 2024, and a newer shower surround in Unit A. The property is in need of significant updating and repair, including siding, furnace, ceiling tiles, bathrooms, flooring, and additional cosmetic improvements throughout. Extra Info With its existing three-unit layout, established rental history, and opportunity to renovate and reposition the property, this could be a great project for an investor, contractor, or owner looking to build equity and increase future rental income. Bring your ideas and make the most of the potential here.
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Gross income | $36,600 | — |
| Property tax | $2,754 (2026) | — |
| Insurance | $700 | — |
| Water and sewer | $1,800 | — |
| Trash | $600 | — |
| Heat (fuel) | $2,200 | — |
| Electric | $2,100 | — |
| Maintenance / repairs | $500 | — |
| Other / reserves, lawn, mgmt | $500 | — |
| Operating expenses | $8,400 | — |
| Net operating income | $28,200 | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Triplex
- Year built
- 1891
- Living area
- 2,250 sq ft
- Exterior
- Cement Board, Wood
- Basement
- Walkout
Systems and utilities
- Heating
- Forced Air · Electric, Natural Gas
- Water / sewer
- City Water · City Sewer
- Tenants pay
- Broadband, Lawn, Snow Removal
- Owner pays
- Electricity, Fuel, Insurance, Taxes, Trash Collection
Parking and lot
- Parking
- Parking Lot
- Lot
- 0.16 acres · 50x100
- Zoning
- Residential-Multi-Family
Description and facts from Realtor.com. View on Realtor.com ↗
The model: change anything
Every input shows where it came from. Edit one and the whole page updates.
Each month
| Rent | $3,900 |
| Vacancy | −$234 |
| Property tax | −$230 |
| Insurance | −$299 |
| Water, sewer, trash | −$255 |
| Repairs and capital reserve | −$663 |
| Net operating income | $2,159 |
| Mortgage (principal + interest) | −$1,117 |
| Cash flow | $1,042 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $2.13M aheadYear 30 (loan paid off): this building $2,493,879, the same money in stocks $367,497.
Monthly cash flow, year 1 to year 30
See it as a line: this building vs. stocks, year by year
Rents +3% a year, costs +3.5%, value +3%, stocks 7%, 6% to sell. Future dollars: at 3% inflation, divide year-30 figures by about 2.4 for today’s buying power. Red bars are months you’d cover out of pocket.
Rent estimate and comparable rentals
2 bed: $1,300/mo · range $1,150–$1,725 · 12 rentals within 0.5 mi · low confidence
Median asking rent of nearby rentals with the same bedroom count (within 1.75 miles): for rent now or leased in the last 3 years (past rents brought to today at 3% a year), from Realtor.com rental listings. Range is the middle half of those rents. Asking rents, not signed leases. On the water, but too few waterfront rentals close by to compare with: this uses nearby rentals off the water, so it likely understates what it would rent for. Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 2113 W 3rd St # D, Duluth | $750 | 2 / 1 | 0.1 mi |
| 507 513 N 1st Ave W, Duluth | $1,300 | 2 / 1 | 0.1 mi |
| 2617-2619 W 3rd St, Duluth | $1,325 | 2 / 1 | 0.2 mi |
| 230 E 4th St Apt 2, Duluth | $1,137asked $1,125 | 2 / 1 | 0.2 mi |
| 1 E 1st St Unit 1-313, Duluth | $1,619asked $1,590 | 2 / 1 | 0.2 mi |
| 1 E 1st St Unit 2206, Duluth | $1,603asked $1,575 | 2 / 1 | 0.2 mi |
| 1 E 1st St Unit 1-402, Duluth | $1,830asked $1,799 | 2 / 1 | 0.2 mi |
| 1 E 1st St Ste 310, Duluth | $1,764asked $1,750 | 2 / 1 | 0.2 mi |
| 5 W 1st St Apt 312, Duluth | $1,745 | 2 / 1 | 0.2 mi |
| 308 E 5th St, Duluth | $1,100 | 2 / 1 | 0.2 mi |
Asking rents from Realtor.com listings, not signed leases.
1 bed: $1,300/mo · range $1,000–$1,725 · 6 rentals within 1.75 mi · low confidence
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 333 E Superior St, Duluth waterfront | $2,365 | 1 / 1 | 0.4 mi |
| 802 Lake Ave S Unit 3, Duluth waterfront | $1,721asked $1,700 | 1 / 1 | 1.1 mi |
| 1723 E 2nd St Apt 7, Duluth waterfront | $958asked $950 | 1 / 1 | 1.5 mi |
| 1807 E 3rd St Apt 11, Duluth waterfront | $1,359asked $1,350 | 1 / 1 | 1.6 mi |
| 1820 London Rd Apt 7, Duluth waterfront | $1,392asked $1,375 | 1 / 1 | 1.7 mi |
| 1902 E 1st St Apt 5, Duluth waterfront | $1,012asked $995 | 1 / 1 | 1.7 mi |
Asking rents from Realtor.com listings, not signed leases.
Red flags and opportunities
Serious changes whether this is a good buy and keeps it out of our top picks. Check means ask before an offer. Minor is worth knowing. Each one shows its source.
Watch for
No red flags in the available data. That isn't the same as none.
Opportunities
None found.
Questions for the agent
- Can we see the current leases and a rent roll, with move-in dates?
- What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
- How old are the roof, boiler or furnaces, water heaters and electrical panels?
- Is the building licensed as a rental for this many units, and when was the last city inspection?
- Any special assessments pending, and will the seller pay them off at closing?
Standard questions worth asking about any building.
What the records say
Price history · Realtor.com
On the market since 2026-10-15 (18 days); last sold for $130,000 on 2022-01-28.
| Date | Event | Price |
|---|---|---|
| Listed | $209,900 | |
| Sold | $130,000 | |
| Price changed | $149,000 | |
| Price changed | $149,000 | |
| Listed | $156,000 | |
| Price changed | $156,000 | |
| Price changed | $165,000 | |
| Listed | $175,000 | |
| Sold public record | $116,000 | |
| Sold | $116,000 | |
| Price changed | $116,000 | |
| Listed | $120,000 | |
| Removed | $139,900 | |
| Removed | $129,900 | |
| Sold | $97,000 | |
| Listed | $109,900 | |
| Removed | $119,900 | |
| Listed | $119,900 | |
| Removed | $119,900 | |
| Listed | $119,900 | |
| Removed | $129,900 | |
| Listed | $129,900 | |
| Removed | $139,900 | |
| Listed | $139,900 | |
| Sold public record | $49,000 |
From the listing
| Listed as | Triplex |
| Property tax, 2026 | $2,754 |
| County | St. Louis |
| Parcel number | 010101001080 |
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.
Location
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Educational analysis, not financial, legal or real estate advice. AI-assisted first read of the listing description and photos, checked against public records. Verify with the agent, leases and an inspection. Prepared 2026-11-02.