Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $620,000 4 units · $155K per unit
- Monthly cash flow
- −$1,393 at 20% down, 7%
- Estimated rent
- $4,000/mo high confidence
- Break-even price
- $358,319 where cash flow hits $0
First look
This is a clean-looking 1929 brick fourplex in Duluth, but $620K is too much for what it earns. Our underwriting shows about -$1,393 a month at asking, a 3.7% cap rate, and a break-even price near $358K. Two units have actual rents of $1,250 in our data, which is above our $1,000 mid estimate. Even at that level, the gap is huge. The listing gives no rents, no lease terms, and no tax figures, and we couldn't match a county parcel. Ask for the rent roll, trailing-12 expenses and tax bill first. Only consider a showing if the seller will come down a long way.
Things to consider
- Price is far above what the income supports Cash flow is about -$1,393 a month at asking, and break-even is near $358K. Any offer near asking relies on appreciation.
- No rent roll, so income is unverified Our rent estimates are just estimates. Actual rents, vacancy and lease terms drive the real numbers.Listing says: “stable rental potential”
- Taxes and unit count are unverified We couldn't match a county parcel. An investor tax reassessment or a different legal unit count could shift the numbers.
- Mechanical updates need documentation Updated systems are a real plus but only if permitted and done well. Ask for dates, permits and a panel photo.Listing says: “electrical and plumbing updates and a full conversion from fuel oil to natural gas”
- Heating setup affects expenses Radiators suggest a central boiler, which usually means the owner pays gas. Confirm whether units are separately metered.From photo 9
- Ample parking and storage help hold tenants Garage stalls for each unit are a real draw in Duluth winters and may support rents above the baseline.Listing says: “two dedicated parking stalls per unit, each equipped with its own opener”
From the photos
Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.
Condition and repairs
- doneFaux clay roof updated (age and scope not given)Listing says: an updated faux clay roof that enhances the building's architectural character
- doneElectrical and plumbing updates (extent not given)Listing says: electrical and plumbing updates and a full conversion from fuel oil to natural gas
- doneFuel oil to natural gas conversionListing says: a full conversion from fuel oil to natural gas
- doneRepaired architectural eyebrow accent at rooflineListing says: a repaired architectural eyebrow accent at the roofline
- doneRefinished hardwood floorsListing says: refinished hardwood floors, preserved original woodwork
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
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
- $620,000
- Cash to close
- $80,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$2,154/mo
- Cash-on-cash
- −32.1%
- Cap rate
- 3.7%
- DSCR
- 0.47×
Break-even
- Price that breaks even
- $291,154
- Rent that breaks even
- $6,762/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $2.05M
- Cash flow turns positive
- year 27
The deal
- Price
- $620,000
- Cash to close
- $80,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$2,492/mo
- Cash-on-cash
- −37.1%
- Cap rate
- 3.0%
- DSCR
- 0.39×
Break-even
- Price that breaks even
- $239,492
- Rent that breaks even
- $7,584/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $2.57M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $610,000
- Cash to close
- $79,300
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$2,089/mo
- Cash-on-cash
- −31.6%
- Cap rate
- 3.8%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $291,154
- Rent that breaks even
- $6,678/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $1.98M
- Cash flow turns positive
- year 26
The deal
- Price
- $610,000
- Cash to close
- $79,300
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$2,427/mo
- Cash-on-cash
- −36.7%
- Cap rate
- 3.1%
- DSCR
- 0.39×
Break-even
- Price that breaks even
- $239,492
- Rent that breaks even
- $7,490/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $2.49M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $620,000
- Cash to close
- $142,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$1,393/mo
- Cash-on-cash
- −11.7%
- Cap rate
- 3.7%
- DSCR
- 0.58×
Break-even
- Price that breaks even
- $358,319
- Rent that breaks even
- $5,786/mo
Long run
- Year 30: property vs stocks
- $1.46M vs $1.99M
- Cash flow turns positive
- year 22
The deal
- Price
- $620,000
- Cash to close
- $142,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$1,731/mo
- Cash-on-cash
- −14.6%
- Cap rate
- 3.0%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $294,739
- Rent that breaks even
- $6,489/mo
Long run
- Year 30: property vs stocks
- $1.41M vs $2.47M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $610,000
- Cash to close
- $140,300
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$1,340/mo
- Cash-on-cash
- −11.5%
- Cap rate
- 3.8%
- DSCR
- 0.59×
Break-even
- Price that breaks even
- $358,319
- Rent that breaks even
- $5,717/mo
Long run
- Year 30: property vs stocks
- $1.45M vs $1.92M
- Cash flow turns positive
- year 22
The deal
- Price
- $610,000
- Cash to close
- $140,300
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$1,678/mo
- Cash-on-cash
- −14.4%
- Cap rate
- 3.1%
- DSCR
- 0.48×
Break-even
- Price that breaks even
- $294,739
- Rent that breaks even
- $6,413/mo
Long run
- Year 30: property vs stocks
- $1.39M vs $2.39M
- Cash flow turns positive
- year 30
The deal
- Price
- $620,000
- Cash to close
- $173,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$1,187/mo
- Cash-on-cash
- −8.2%
- Cap rate
- 3.7%
- DSCR
- 0.62×
Break-even
- Price that breaks even
- $382,207
- Rent that breaks even
- $5,521/mo
Long run
- Year 30: property vs stocks
- $1.50M vs $2.02M
- Cash flow turns positive
- year 20
The deal
- Price
- $620,000
- Cash to close
- $173,600
- Price per unit
- $155,000
- GRM
- 12.9
Each month
- Cash flow
- −$1,525/mo
- Cash-on-cash
- −10.5%
- Cap rate
- 3.0%
- DSCR
- 0.51×
Break-even
- Price that breaks even
- $314,388
- Rent that breaks even
- $6,193/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $2.47M
- Cash flow turns positive
- year 28
The deal
- Price
- $610,000
- Cash to close
- $170,800
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$1,137/mo
- Cash-on-cash
- −8.0%
- Cap rate
- 3.8%
- DSCR
- 0.63×
Break-even
- Price that breaks even
- $382,207
- Rent that breaks even
- $5,457/mo
Long run
- Year 30: property vs stocks
- $1.48M vs $1.95M
- Cash flow turns positive
- year 19
The deal
- Price
- $610,000
- Cash to close
- $170,800
- Price per unit
- $152,500
- GRM
- 12.7
Each month
- Cash flow
- −$1,475/mo
- Cash-on-cash
- −10.4%
- Cap rate
- 3.1%
- DSCR
- 0.52×
Break-even
- Price that breaks even
- $314,388
- Rent that breaks even
- $6,121/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $2.40M
- Cash flow turns positive
- year 28
Monthly
Monthly breakdown
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,712 |
| PMI | −$349 |
| Cash flow | −$2,154 |
| Principal paid down (equity, not cash) | $472 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,712 |
| PMI | −$349 |
| Cash flow | −$2,492 |
| Principal paid down (equity, not cash) | $472 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,653 |
| PMI | −$343 |
| Cash flow | −$2,089 |
| Principal paid down (equity, not cash) | $465 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,653 |
| PMI | −$343 |
| Cash flow | −$2,427 |
| Principal paid down (equity, not cash) | $465 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,300 |
| Cash flow | −$1,393 |
| Principal paid down (equity, not cash) | $420 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,300 |
| Cash flow | −$1,731 |
| Principal paid down (equity, not cash) | $420 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,247 |
| Cash flow | −$1,340 |
| Principal paid down (equity, not cash) | $413 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,247 |
| Cash flow | −$1,678 |
| Principal paid down (equity, not cash) | $413 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,094 |
| Cash flow | −$1,187 |
| Principal paid down (equity, not cash) | $394 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,094 |
| Cash flow | −$1,525 |
| Principal paid down (equity, not cash) | $394 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Net operating income | $1,907 |
| Mortgage (principal + interest) | −$3,044 |
| Cash flow | −$1,137 |
| Principal paid down (equity, not cash) | $387 |
| Rent | $4,000 |
| Vacancy (6%) | −$240 |
| Collected | $3,760 |
| Property tax Listing | −$449 |
| Insurance Estimate | −$364 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$320 |
| Capital reserve (8% of rent) | −$320 |
| Property management | −$338 |
| Net operating income | $1,569 |
| Mortgage (principal + interest) | −$3,044 |
| Cash flow | −$1,475 |
| Principal paid down (equity, not cash) | $387 |
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
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $10,151
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $558,000 of loan.
$9,552 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $613,548
- Monthly shortfalls, invested
- $1,438,028
$80,600 put into an index fund instead of the down payment and closing costs.
$328,191 you'd have paid in while the building lost money, invested instead.
Stocks come out $626,816 ahead after 30 years.
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $0
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $558,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $613,548
- Monthly shortfalls, invested
- $1,957,869
$80,600 put into an index fund instead of the down payment and closing costs.
$512,340 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,156,808 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $13,558
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $549,000 of loan.
$12,591 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $603,652
- Monthly shortfalls, invested
- $1,371,822
$79,300 put into an index fund instead of the down payment and closing costs.
$309,404 you'd have paid in while the building lost money, invested instead.
Stocks come out $570,124 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $0
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $549,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $603,652
- Monthly shortfalls, invested
- $1,888,256
$79,300 put into an index fund instead of the down payment and closing costs.
$490,514 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,100,116 ahead after 30 years.
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $47,688
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $496,000 of loan.
$40,401 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,085,508
- Monthly shortfalls, invested
- $900,091
$142,600 put into an index fund instead of the down payment and closing costs.
$193,804 you'd have paid in while the building lost money, invested instead.
Stocks come out $523,302 ahead after 30 years.
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $0
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $496,000 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,085,508
- Monthly shortfalls, invested
- $1,382,395
$142,600 put into an index fund instead of the down payment and closing costs.
$347,105 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,053,293 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $55,338
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $488,000 of loan.
$46,150 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,067,999
- Monthly shortfalls, invested
- $847,410
$140,300 put into an index fund instead of the down payment and closing costs.
$180,392 you'd have paid in while the building lost money, invested instead.
Stocks come out $468,279 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $230
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $488,000 of loan.
$230 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,067,999
- Monthly shortfalls, invested
- $1,322,294
$140,300 put into an index fund instead of the down payment and closing costs.
$328,174 you'd have paid in while the building lost money, invested instead.
Stocks come out $998,271 ahead after 30 years.
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $81,232
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $465,000 of loan.
$64,759 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,321,487
- Monthly shortfalls, invested
- $699,852
$173,600 put into an index fund instead of the down payment and closing costs.
$143,914 you'd have paid in while the building lost money, invested instead.
Stocks come out $525,499 ahead after 30 years.
- Your equity when you sell
- $1,414,609
- Rental profits, invested at 7%
- $3,455
Sells for $1,504,903 (value up 3% a year), minus 6% selling cost ($90,294). Rent paid down $465,000 of loan.
$3,352 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,321,487
- Monthly shortfalls, invested
- $1,152,066
$173,600 put into an index fund instead of the down payment and closing costs.
$276,209 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,055,491 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $91,060
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $457,500 of loan.
$71,524 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,300,173
- Monthly shortfalls, invested
- $653,119
$170,800 put into an index fund instead of the down payment and closing costs.
$132,716 you'd have paid in while the building lost money, invested instead.
Stocks come out $470,441 ahead after 30 years.
- Your equity when you sell
- $1,391,792
- Rental profits, invested at 7%
- $5,380
Sells for $1,480,630 (value up 3% a year), minus 6% selling cost ($88,838). Rent paid down $457,500 of loan.
$5,148 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,300,173
- Monthly shortfalls, invested
- $1,097,431
$170,800 put into an index fund instead of the down payment and closing costs.
$260,042 you'd have paid in while the building lost money, invested instead.
Stocks come out $1,000,432 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
Year 30 (loan paid off): property $1.42M, stocks $2.05M. Stocks win.
Year 30 (loan paid off): property $1.41M, stocks $2.57M. Stocks win.
Year 30 (loan paid off): property $1.41M, stocks $1.98M. Stocks win.
Year 30 (loan paid off): property $1.39M, stocks $2.49M. Stocks win.
Year 30 (loan paid off): property $1.46M, stocks $1.99M. Stocks win.
Year 30 (loan paid off): property $1.41M, stocks $2.47M. Stocks win.
Year 30 (loan paid off): property $1.45M, stocks $1.92M. Stocks win.
Year 30 (loan paid off): property $1.39M, stocks $2.39M. Stocks win.
Year 30 (loan paid off): property $1.50M, stocks $2.02M. Stocks win.
Year 30 (loan paid off): property $1.42M, stocks $2.47M. Stocks win.
Year 30 (loan paid off): property $1.48M, stocks $1.95M. Stocks win.
Year 30 (loan paid off): property $1.40M, stocks $2.40M. 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.
1 bed / 1 bath estimate $1,000/mo · range $900–$1,075
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 302 N 16th Ave E, Apt 7, Duluth 55812 off market | $975 | 1 / 1 | 0.1 mi | 94% |
| 302 N 16th Ave E, Apt 9, Duluth 55812 off market | $975 | 1 / 1 | 0.1 mi | 94% |
| 230 N 16th Ave E, Apt 1, Duluth 55812 off market | $825 | 1 / 1 | 0.2 mi | 94% |
| 230 N 16th Ave E, Apt 2, Duluth 55812 off market | $1,025 | 1 / 1 | 0.2 mi | 94% |
| 1427 E 2nd St, Apt 3, Duluth 55805 off market | $1,150 | 1 / 1 | 0.2 mi | 94% |
| 1723 E 2nd St, Apt 7, Duluth 55812 off market | $950 | 1 / 1 | 0.3 mi | 94% |
| 1625 E 1st St, Apt 3, Duluth 55812 off market | $1,000 | 1 / 1 | 0.3 mi | 94% |
| 1723 E 2nd St, Apt 5, Duluth 55812 off market | $950 | 1 / 1 | 0.3 mi | 94% |
| 1317 E 2nd St, Duluth 55805 off market | $825 | 1 / 1 | 0.3 mi | 94% |
| 1625 E 1st St, Apt 2, Duluth 55812 off market | $985 | 1 / 1 | 0.3 mi | 94% |
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
- highPrice is far above what the rents support; cash flow is deeply negative at asking Based on: data: underwriting.cash_flow_monthly · 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 1529 5TH ST E
- mediumAsking is $261,681 above the price where cash flow breaks even ($358,319) at the default scenario. Based on: Derived: price $620,000 vs. break-even $358,319
- medium82 days on market suggests the price isn't meeting the market Based on: data: listing.days_on_market · AI review
- mediumListing gives no rents, leases, taxes or expenses, so 'stable rental potential' is unproven Listing says: offering historic charm, modern improvements, and stable rental potential · AI review
- mediumUpdate claims are vague: no years, no panel amperage, no pipe material Listing says: electrical and plumbing updates · AI review
- lowMarketing language like 'turnkey' and 'impeccably maintained' needs verifying with inspection Listing says: This property is a turnkey, well updated asset · AI review
Opportunities
- Garage parking with two stalls per unit and storage rooms is rare and helps tenant retention Listing says: two dedicated parking stalls per unit, each equipped with its own opener · AI review
- Coin laundry adds a small income line; confirm who owns the machines and what they collect Listing says: coin operated washer and dryer located adjacent to four private storage rooms · AI review
- Gas conversion should lower heating costs and make the building easier to insure and finance Listing says: a full conversion from fuel oil to natural gas · AI review
- No rent cap, so rents can follow the market Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Can I see the current rent roll, lease dates and security deposits for all four units?
- What are the trailing-12 expenses, including heat, water, and who pays them?
- How old is the roof, and who did the electrical, plumbing and gas conversion? Were permits pulled?
- Is there one boiler or one per unit, and who pays the gas bill?
- What do the coin laundry and garage bring in per month?
- Why has it sat 82 days, and has the price changed?
Bottom line
Nice, well-kept brick fourplex, but at $620K it loses about $1,400 a month and only pencils near $358K. 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. | $5,392 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,362 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $340 |
| 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 rate | 8% / 8% |
Price history Realtor.com
On the market since 2026-07-13 (84 days); down $20,000 (3.1%) from the first ask of $640,000; last sold for $200,800 on 2014-06-20.
| Date | Event | Price |
|---|---|---|
| Price changed | $620,000 | |
| Price changed | $620,000 | |
| Listed | $640,000 | |
| Listed | $640,000 | |
| Sold | $200,800 | |
| Sold public record | $200,800 | |
| Listed | $194,900 |
From the listing Listing
| Listed as | fourplex |
| Property tax, 2026 | $5,392 |
| County | St. Louis County |
| Parcel number | 010-1480-08610 |
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.