1530-1532 E 1st St
Triplex · 3 units: 1 bed / 1 bath ×2 and 2 bed / 1 bath · 4,566 sq ft
Duluth, MN · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $699,000 3 units · $233K per unit
- Monthly cash flow
- −$2,556 at 20% down, 7%
- Estimated rent
- $3,200/mo high confidence
- Break-even price
- $218,703 where cash flow hits $0
First look
This is listed as a six-unit building at $699K, but our rent estimate only covers three units and the facts show a unit count of null, so the first job is to find out how many units there really are. At the asking price our underwriting shows about -$2,556 a month and a 2% cap rate. Break-even is around $218.7K, so this doesn't work at today's rates unless the price drops a lot. The description says 'turnkey' and 'well-maintained' but gives no rents, no expenses and no roof year, and the photos show dated oak kitchens and an 1891 structure. It has sat 97 days. Get the rent roll, the rental license and a unit count before spending time on a showing.
Things to consider
- Price is far above what the income supports Our underwriting is deeply negative at ask, and break-even is roughly $480K lower. You'd need a major price cut or much higher rents.
- Unit count and legality unverified If fewer units are licensed than advertised, income and financing both shrink.
- Rents are undisclosed Rent roll is the whole basis of value; 'strong income potential' is not a number.Listing says: “offers a proven rental history and strong income potential”
- Old building with unknown systems An 1891 build with radiators means a boiler, probably old wiring and plumbing. Capex could be large.From photo 6
- Dated kitchens limit rent growth Cosmetic updates would be needed to push rents toward the high end of our estimates, with a budget for six units.From photo 2
- Long time on market 97 days suggests the seller's price isn't meeting the market, which gives room to negotiate.
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
- doneNewer roof (age not given)Listing says: Recent improvements include a newer roof
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
- $699,000
- Cash to close
- $90,870
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$3,415/mo
- Cash-on-cash
- −45.1%
- Cap rate
- 2.0%
- DSCR
- 0.25×
Break-even
- Price that breaks even
- $177,708
- Rent that breaks even
- $7,635/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $3.86M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $699,000
- Cash to close
- $90,870
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$3,685/mo
- Cash-on-cash
- −48.7%
- Cap rate
- 1.5%
- DSCR
- 0.20×
Break-even
- Price that breaks even
- $136,378
- Rent that breaks even
- $8,577/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $4.28M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $89,570
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$3,349/mo
- Cash-on-cash
- −44.9%
- Cap rate
- 2.0%
- DSCR
- 0.26×
Break-even
- Price that breaks even
- $177,708
- Rent that breaks even
- $7,549/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $3.78M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $89,570
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$3,620/mo
- Cash-on-cash
- −48.5%
- Cap rate
- 1.6%
- DSCR
- 0.20×
Break-even
- Price that breaks even
- $136,378
- Rent that breaks even
- $8,481/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $4.20M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $699,000
- Cash to close
- $160,770
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$2,556/mo
- Cash-on-cash
- −19.1%
- Cap rate
- 2.0%
- DSCR
- 0.31×
Break-even
- Price that breaks even
- $218,703
- Rent that breaks even
- $6,520/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $3.74M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $699,000
- Cash to close
- $160,770
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$2,827/mo
- Cash-on-cash
- −21.1%
- Cap rate
- 1.5%
- DSCR
- 0.24×
Break-even
- Price that breaks even
- $167,839
- Rent that breaks even
- $7,325/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $4.17M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $158,470
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$2,503/mo
- Cash-on-cash
- −19.0%
- Cap rate
- 2.0%
- DSCR
- 0.32×
Break-even
- Price that breaks even
- $218,703
- Rent that breaks even
- $6,451/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $3.67M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $158,470
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$2,774/mo
- Cash-on-cash
- −21.0%
- Cap rate
- 1.6%
- DSCR
- 0.24×
Break-even
- Price that breaks even
- $167,839
- Rent that breaks even
- $7,247/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $4.09M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $699,000
- Cash to close
- $195,720
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$2,324/mo
- Cash-on-cash
- −14.2%
- Cap rate
- 2.0%
- DSCR
- 0.33×
Break-even
- Price that breaks even
- $233,283
- Rent that breaks even
- $6,218/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $3.75M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $699,000
- Cash to close
- $195,720
- Price per unit
- $233,000
- GRM
- 18.2
Each month
- Cash flow
- −$2,595/mo
- Cash-on-cash
- −15.9%
- Cap rate
- 1.5%
- DSCR
- 0.26×
Break-even
- Price that breaks even
- $179,028
- Rent that breaks even
- $6,985/mo
Long run
- Year 30: property vs stocks
- $1.59M vs $4.17M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $192,920
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$2,274/mo
- Cash-on-cash
- −14.1%
- Cap rate
- 2.0%
- DSCR
- 0.34×
Break-even
- Price that breaks even
- $233,283
- Rent that breaks even
- $6,153/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $3.67M
- Cash flow turns positive
- not within 30 years
The deal
- Price
- $689,000
- Cash to close
- $192,920
- Price per unit
- $229,667
- GRM
- 17.9
Each month
- Cash flow
- −$2,545/mo
- Cash-on-cash
- −15.8%
- Cap rate
- 1.6%
- DSCR
- 0.26×
Break-even
- Price that breaks even
- $179,028
- Rent that breaks even
- $6,913/mo
Long run
- Year 30: property vs stocks
- $1.57M vs $4.09M
- Cash flow turns positive
- not within 30 years
Monthly
Monthly breakdown
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$4,185 |
| PMI | −$393 |
| Cash flow | −$3,415 |
| Principal paid down (equity, not cash) | $533 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$4,185 |
| PMI | −$393 |
| Cash flow | −$3,685 |
| Principal paid down (equity, not cash) | $533 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$4,126 |
| PMI | −$388 |
| Cash flow | −$3,349 |
| Principal paid down (equity, not cash) | $525 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$4,126 |
| PMI | −$388 |
| Cash flow | −$3,620 |
| Principal paid down (equity, not cash) | $525 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$3,720 |
| Cash flow | −$2,556 |
| Principal paid down (equity, not cash) | $473 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$3,720 |
| Cash flow | −$2,827 |
| Principal paid down (equity, not cash) | $473 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$3,667 |
| Cash flow | −$2,503 |
| Principal paid down (equity, not cash) | $467 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$3,667 |
| Cash flow | −$2,774 |
| Principal paid down (equity, not cash) | $467 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$3,488 |
| Cash flow | −$2,324 |
| Principal paid down (equity, not cash) | $444 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$3,488 |
| Cash flow | −$2,595 |
| Principal paid down (equity, not cash) | $444 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Net operating income | $1,164 |
| Mortgage (principal + interest) | −$3,438 |
| Cash flow | −$2,274 |
| Principal paid down (equity, not cash) | $437 |
| Rent | $3,200 |
| Vacancy (6%) | −$192 |
| Collected | $3,008 |
| Property tax Listing | −$633 |
| Insurance Estimate | −$352 |
| Water, sewer, trash Estimate | −$255 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$256 |
| Capital reserve (9% of rent) | −$288 |
| Property management | −$271 |
| Net operating income | $893 |
| Mortgage (principal + interest) | −$3,438 |
| Cash flow | −$2,545 |
| Principal paid down (equity, not cash) | $437 |
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
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $629,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $691,726
- Monthly shortfalls, invested
- $3,169,432
$90,870 put into an index fund instead of the down payment and closing costs.
$923,424 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,266,301 ahead after 30 years.
- Your equity when you sell
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $629,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $691,726
- Monthly shortfalls, invested
- $3,591,150
$90,870 put into an index fund instead of the down payment and closing costs.
$1,078,066 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,688,019 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $620,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $681,830
- Monthly shortfalls, invested
- $3,099,819
$89,570 put into an index fund instead of the down payment and closing costs.
$901,598 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,209,608 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $620,100 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $681,830
- Monthly shortfalls, invested
- $3,521,537
$89,570 put into an index fund instead of the down payment and closing costs.
$1,056,240 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,631,326 ahead after 30 years.
- Your equity when you sell
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $559,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,223,822
- Monthly shortfalls, invested
- $2,520,631
$160,770 put into an index fund instead of the down payment and closing costs.
$737,134 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,149,597 ahead after 30 years.
- Your equity when you sell
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $559,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,223,822
- Monthly shortfalls, invested
- $2,942,350
$160,770 put into an index fund instead of the down payment and closing costs.
$891,776 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,571,315 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $551,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,206,314
- Monthly shortfalls, invested
- $2,460,300
$158,470 put into an index fund instead of the down payment and closing costs.
$717,973 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,094,573 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $551,200 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,206,314
- Monthly shortfalls, invested
- $2,882,018
$158,470 put into an index fund instead of the down payment and closing costs.
$872,615 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,516,291 ahead after 30 years.
- Your equity when you sell
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $524,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,489,871
- Monthly shortfalls, invested
- $2,257,059
$195,720 put into an index fund instead of the down payment and closing costs.
$653,426 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,152,073 ahead after 30 years.
- Your equity when you sell
- $1,594,857
- Rental profits, invested at 7%
- $0
Sells for $1,696,656 (value up 3% a year), minus 6% selling cost ($101,799). Rent paid down $524,250 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,489,871
- Monthly shortfalls, invested
- $2,678,778
$195,720 put into an index fund instead of the down payment and closing costs.
$808,067 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,573,791 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $516,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,468,556
- Monthly shortfalls, invested
- $2,200,499
$192,920 put into an index fund instead of the down payment and closing costs.
$635,463 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,097,014 ahead after 30 years.
- Your equity when you sell
- $1,572,041
- Rental profits, invested at 7%
- $0
Sells for $1,672,384 (value up 3% a year), minus 6% selling cost ($100,343). Rent paid down $516,750 of loan.
$0 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $1,468,556
- Monthly shortfalls, invested
- $2,622,217
$192,920 put into an index fund instead of the down payment and closing costs.
$790,104 you'd have paid in while the building lost money, invested instead.
Stocks come out $2,518,732 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 $1.59M, stocks $3.86M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $4.28M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $3.78M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $4.20M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $3.74M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $4.17M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $3.67M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $4.09M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $3.75M. Stocks win.
Year 30 (loan paid off): property $1.59M, stocks $4.17M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $3.67M. Stocks win.
Year 30 (loan paid off): property $1.57M, stocks $4.09M. 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 $975/mo · range $900–$1,050
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1602 E 1st St, Apt 5, Duluth 55812 off market | $950 | 1 / 1 | 0.0 mi | 94% |
| 1513 E Superior St, Duluth 55812 off market | $900 | 1 / 1 | 0.1 mi | 94% |
| 1625 E 1st St, Apt 3, Duluth 55812 off market | $1,000 | 1 / 1 | 0.1 mi | 94% |
| 1625 E 1st St, Apt 2, Duluth 55812 off market | $985 | 1 / 1 | 0.1 mi | 94% |
| 230 N 16th Ave E, Apt 1, Duluth 55812 off market | $825 | 1 / 1 | 0.1 mi | 94% |
| 1427 E 2nd St, Apt 3, Duluth 55805 off market | $1,150 | 1 / 1 | 0.1 mi | 94% |
| 230 N 16th Ave E, Apt 2, Duluth 55812 off market | $1,025 | 1 / 1 | 0.1 mi | 94% |
| 302 N 16th Ave E, Apt 7, Duluth 55812 off market | $975 | 1 / 1 | 0.2 mi | 94% |
| 302 N 16th Ave E, Apt 9, Duluth 55812 off market | $975 | 1 / 1 | 0.2 mi | 94% |
| 213 S 17th Ave E Apt D, Duluth 55812 off market | $900 | 1 / 1 | 0.2 mi | 94% |
2 bed / 1 bath estimate $1,250/mo · range $1,125–$1,400
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 205 N 18th Ave E, Duluth 55812 off market | $1,500 | 2 / 1 | 0.2 mi | 97% |
| 1625 E 1st St, Apt 1, Duluth 55812 off market | $1,100 | 2 / 1 | 0.1 mi | 94% |
| 1430 E 1st St, Apt 5, Duluth 55805 off market | $1,065 | 2 / 1 | 0.1 mi | 94% |
| 1430 E 1st St, Apt 3, Duluth 55805 off market | $1,075 | 2 / 1 | 0.1 mi | 94% |
| 1414 E 1st St, Unit 3E, Duluth 55805 off market | $1,325 | 2 / 1 | 0.1 mi | 94% |
| 1414 E 1st St, Unit 1E, Duluth 55805 off market | $1,300 | 2 / 1 | 0.1 mi | 94% |
| 207 S 17th Ave E, Unit 2, Duluth 55812 | $1,400 | 2 / 1 | 0.2 mi | 94% |
| 1731 E Superior St, Apt 102, Duluth 55812 off market | $1,150 | 2 / 1 | 0.2 mi | 94% |
| 1529 E 3rd St, Apt 3, Duluth 55812 off market | $1,250 | 2 / 1 | 0.2 mi | 94% |
| 1529 E 3rd St, Apt 5, Duluth 55812 off market | $1,240 | 2 / 1 | 0.2 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
- highUnit count and unit mix are unverified; listing data shows 9 beds across 6 claimed units, which is tight Based on: data: listing.unit_count · AI review
- highNo rents, expenses or lease terms given despite 'proven rental history' Listing says: offers a proven rental history and strong income potential · 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 1530-1532 1ST ST E
- mediumAsking is $480,297 above the price where cash flow breaks even ($218,703) at the default scenario. Based on: Derived: price $699,000 vs. break-even $218,703
- medium'Turnkey' claim conflicts with dated kitchens and an 1891 building; no systems details given Listing says: this turnkey multi-family building is one you won't want to miss · AI review
- mediumRoof is only described as 'newer' with no year or permit Listing says: Recent improvements include a newer roof · AI review
- mediumTaxes unknown because the parcel record didn't match Based on: data: county.tax · AI review
Opportunities
- Long time on market: room to negotiate. Based on: Listing data: 97 days on market
- 97 days on market gives room to push the price well down Based on: data: listing.days_on_market · AI review
- Separate electric meters mean tenants likely pay their own electricity Listing says: Each unit features its own separate electrical service · AI review
- Off-street parking helps tenant retention in Duluth Listing says: Tenants appreciate the convenience of off-street parking · AI review
Questions for the agent
- How many units are there, and does the city rental license list all six?
- Can you share the current rent roll, lease dates and trailing-12 expenses?
- What year was the roof replaced, and who did it?
- Who pays heat and water? Is there one boiler or several?
- What is the real estate tax bill, and are there any special assessments?
- What is the age and type of the electrical panels, and are they separate for all units?
Bottom line
At $699K and a 2% cap rate this overshoots by hundreds of thousands, and the unit count and rents are unproven. 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. | $7,594 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,226 |
| Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid | $255 |
| 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 1891: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-06-30 (97 days); last sold for $295,000 on 2005-11-09.
| Date | Event | Price |
|---|---|---|
| Listed | $699,000 | |
| Sold public record | $295,000 |
From the listing Listing
| Listed as | 5-10 units |
| Property tax, 2026 | $7,594 |
| County | St. Louis County |
| Parcel number | 010-1480-01230 |
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.