Cash flows19 days on marketPending
1811 W 1st St, Duluth
Fourplex · 4 units: 2 bed / 1 bath and 1 bed / 1 bath ×3 unit split estimated · 2,870 sq ft · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
+$1,818 monthly cash flow
After every cost, including reserves for vacancy and repairs, this fourplex puts about $1,818 a month in your pocket. That’s a 33.3% yearly return on the $65,550 you’d put in.
At $285,000, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 33.3% Yearly cash flow ÷ cash in
- Cap rate
- 14.0% Return if you paid all cash
- Cash to close
- $65,550 Down payment + closing costs
- Break-even price
- $626,575 Most you can pay and still cash flow
The listing, and how its numbers compare
MLS #7160594What the seller says
Solid West End fourplex with steady rental income in Duluth's Lincoln Park neighborhood, just off Superior Street near the Craft District. The unit mix appeals to a range of renters: one 3BR, one 2BR and two 1BR units. Three units are currently leased through 2027, bringing in $3,425/month in combined rent. Tenants pay their own electric, trash and fuel, and the owner covers only water and sewer. Off-street parking is a standout for the area, with 6 spaces plus a 2-stall detached garage, all on a 0.24-acre lot. The property has a full stone basement and a current rental license. It's a strong fit for an investor building a portfolio or an owner-occupant who wants rent from the other units to help cover the mortgage. Call to schedule a showing.
Listing courtesy of RE/MAX Results (Jordan Decaro).
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Gross income | $56,543 | — |
| Property tax | $3,946 (2026) | — |
| Trash | $1,397 | — |
| Heat (fuel) | $5,144 | — |
| Electric | $3,781 | — |
| Maintenance / repairs | $13,093 | — |
| Operating expenses | $29,991 | — |
| Net operating income | $26,552 | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Four Plex
- Year built
- 1893
- Living area
- 2,870 sq ft
- Exterior
- Metal, Wood · Frame
- Basement
- Full
Systems and utilities
- Heating
- Boiler · Electric, Natural Gas
- Water / sewer
- City Water · City Sewer
Parking and lot
- Garage
- 2 spaces
- Parking
- Detached Garage
- Lot
- 0.24 acres · 75x140
- 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 | $5,350 |
| Vacancy | −$321 |
| Property tax | −$329 |
| Insurance | −$396 |
| Water, sewer, trash | $0 |
| Repairs and capital reserve | −$910 |
| Net operating income | $3,335 |
| Mortgage (principal + interest) | −$1,517 |
| Cash flow | $1,818 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $3.55M aheadYear 30 (loan paid off): this building $4,045,994, the same money in stocks $498,983.
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: $1,325/mo · range $1,225–$1,450 · 11 rentals within 1 mi · medium 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. Adjustments: $25/unit (garage mentioned in the description). Rent rules: No rent cap.
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 208 Piedmont Ave, Duluth | $1,300 | 2 / 1 | 0.1 mi |
| 313 N 21st Ave, West Duluth | $1,195 | 2 / 1 | 0.3 mi |
| 2029 W 5th St Unit 1, Duluth | $1,373asked $1,350 | 2 / 1 | 0.3 mi |
| 2231 W 3rd St Apt 2, Duluth | $1,421asked $1,400 | 2 / 1 | 0.4 mi |
| 1310 W 3rd St Apt 14, Duluth | $1,564asked $1,550 | 2 / 1 | 0.5 mi |
| 1310 W 3rd St Apt 8, Duluth | $1,547asked $1,525 | 2 / 1.5 | 0.5 mi |
| 2314 W 5th St Unit 1, Duluth | $1,316asked $1,295 | 2 / 1 | 0.5 mi |
| 217 N 25th Ave W, Duluth | $1,245 | 2 / 1 | 0.6 mi |
| 209 N 27th Ave W, Duluth | $986asked $975 | 2 / 1 | 0.8 mi |
| 2705 W 2nd St, Duluth | $1,195 | 2 / 1 | 0.8 mi |
Asking rents from Realtor.com listings, not signed leases.
1 bed: $1,350/mo · range $1,200–$1,450 · 25 rentals within 1.75 mi · medium confidence
| Address | Rent | Bd / Ba | Distance |
|---|---|---|---|
| 1828 W 2nd St Apt O, Duluth | $916asked $900 | 1 / 1 | 0.1 mi |
| 113-115 N 22nd Ave W, Duluth | $995 | 1 / 1 | 0.3 mi |
| 2228 W 3rd St Apt 4, Duluth | $985asked $975 | 1 / 1 | 0.4 mi |
| 910 N 22nd Ave Apt W1, Duluth | $1,042asked $1,025 | 1 / 1 | 0.6 mi |
| 521 W 2nd St, Duluth | $1,240 | 1 / 1 | 1.1 mi |
| 10 W 1st St Apt 211, Duluth | $1,416asked $1,395 | 1 / 1 | 1.6 mi |
| 10 W 1st St Apt 302, Duluth | $1,462asked $1,450 | 1 / 1 | 1.6 mi |
| 10 W 1st St Apt 111, Duluth | $1,407asked $1,395 | 1 / 1 | 1.6 mi |
| 10 W 1st St Apt 103, Duluth | $1,359asked $1,350 | 1 / 1 | 1.6 mi |
| 10 W 1st St Apt 104, Duluth | $1,367asked $1,350 | 1 / 1 | 1.6 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 2026-10-14 (19 days); last sold for $225,000 on 2018-09-05.
| Date | Event | Price |
|---|---|---|
| Listed | $285,000 | |
| Sold | $225,000 | |
| Price changed | $225,000 | |
| Listed | $229,500 | |
| Sold public record | $659,000 | |
| Sold public record | $60,000 | |
| Sold public record | $145,900 |
From the listing
| Listed as | Four plex |
| Property tax, 2026 | $3,946 |
| County | St. Louis |
| Parcel number | 010114000006 |
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
Save this deal with your numbers
Track it in My deals, get an alert if the price drops or it goes pending, and get new Duluth fourplexes that cash flow the morning they list.
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.