2 And 4 S 16th Ave E
Fourplex · 4 units: 2 bed / 1 bath ×2 and 1 bed / 1 bath ×2 unit split estimated · 2,872 sq ft
Duluth, MN · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $399,900 4 units · $100K per unit
- Monthly cash flow
- −$50 at 20% down, 7%
- Estimated rent
- $4,300/mo medium confidence
- Break-even price
- $390,552 where cash flow hits $0
First look
This is a 1891 fourplex in Duluth asking $399,900, and the listing gives no rents, no rent roll, no utilities and no system ages. Our estimate has it at roughly -$50/month cash flow and a 6.2% cap at ask, but that rests on our rent guesses and unverified taxes. 'Meets the 1% rule' would need about $4,000/month in rents, which is roughly $300 a month below our mid estimates of $4,300, so ask for the actual rent roll. 'Structurally and mechanically sound' is a claim, not a fact, and the photos show dated kitchens and baths, a stone foundation with crumbling patches, and heavy wear inside. 80 days on market suggests room to negotiate. Get the rent roll, leases, utility bills and a rental license check before a showing.
Things to consider
- Rents are unproven The cash flow and the 1% claim both depend on actual rents. Our estimates put the total above the 1% mark, but the numbers can fall apart if real rents are lower.Listing says: “meeting the sought-after 1% rule for rental investments”
- Building condition looks rougher than the description says Dated kitchens and baths, a crumbling foundation and worn interiors mean you should budget for repairs and higher reserves before counting the cash flow.From photo 1
- Systems are undocumented On an 1891 building, the boiler, wiring, plumbing and roof are the big-ticket items. 'Mechanically sound' tells you nothing without ages or an inspection.Listing says: “The property is structurally and mechanically sound, providing a solid foundation for value-add improvements.”
- Taxes and unit count are unverified We couldn't match a county parcel, so taxes and licensing are guesses. Higher taxes or a missing four-unit license would cut cash flow or the value.
- Break-even price is below the ask in our model, and it assumes our rents Our model has break-even at about $391K, slightly under the ask, so there is no cushion at asking and it only works if rents hold at our estimates and expenses are right.
- 80 days on market gives negotiating room A stale listing with a vague pitch suggests the price may come down once inspection issues are found.
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
- neededCosmetic updatesListing says: While it could use some cosmetic updates the major components are in place
- doneStructural and mechanical systems described as sound (no specifics or dates)Listing says: The property is structurally and mechanically sound, providing a solid foundation for value-add improvements.
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
- $399,900
- Cash to close
- $51,987
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- −$541/mo
- Cash-on-cash
- −12.5%
- Cap rate
- 6.2%
- DSCR
- 0.79×
Break-even
- Price that breaks even
- $317,345
- Rent that breaks even
- $5,002/mo
Long run
- Year 30: property vs stocks
- $1.40M vs $545K
- Cash flow turns positive
- year 7
The deal
- Price
- $399,900
- Cash to close
- $51,987
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- −$905/mo
- Cash-on-cash
- −20.9%
- Cap rate
- 5.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $261,808
- Rent that breaks even
- $5,620/mo
Long run
- Year 30: property vs stocks
- $1.08M vs $793K
- Cash flow turns positive
- year 14
The deal
- Price
- $389,900
- Cash to close
- $50,687
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- −$475/mo
- Cash-on-cash
- −11.3%
- Cap rate
- 6.4%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $317,345
- Rent that breaks even
- $4,917/mo
Long run
- Year 30: property vs stocks
- $1.42M vs $509K
- Cash flow turns positive
- year 6
The deal
- Price
- $389,900
- Cash to close
- $50,687
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- −$839/mo
- Cash-on-cash
- −19.9%
- Cap rate
- 5.3%
- DSCR
- 0.67×
Break-even
- Price that breaks even
- $261,808
- Rent that breaks even
- $5,524/mo
Long run
- Year 30: property vs stocks
- $1.08M vs $736K
- Cash flow turns positive
- year 13
The deal
- Price
- $399,900
- Cash to close
- $91,977
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- −$50/mo
- Cash-on-cash
- −0.6%
- Cap rate
- 6.2%
- DSCR
- 0.98×
Break-even
- Price that breaks even
- $390,552
- Rent that breaks even
- $4,365/mo
Long run
- Year 30: property vs stocks
- $1.62M vs $704K
- Cash flow turns positive
- year 2
The deal
- Price
- $399,900
- Cash to close
- $91,977
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- −$414/mo
- Cash-on-cash
- −5.4%
- Cap rate
- 5.1%
- DSCR
- 0.81×
Break-even
- Price that breaks even
- $322,204
- Rent that breaks even
- $4,903/mo
Long run
- Year 30: property vs stocks
- $1.20M vs $845K
- Cash flow turns positive
- year 10
The deal
- Price
- $389,900
- Cash to close
- $89,677
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- $3/mo
- Cash-on-cash
- 0.0%
- Cap rate
- 6.4%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $390,552
- Rent that breaks even
- $4,295/mo
Long run
- Year 30: property vs stocks
- $1.66M vs $683K
- Cash flow turns positive
- year 1
The deal
- Price
- $389,900
- Cash to close
- $89,677
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- −$360/mo
- Cash-on-cash
- −4.8%
- Cap rate
- 5.3%
- DSCR
- 0.83×
Break-even
- Price that breaks even
- $322,204
- Rent that breaks even
- $4,826/mo
Long run
- Year 30: property vs stocks
- $1.21M vs $798K
- Cash flow turns positive
- year 9
The deal
- Price
- $399,900
- Cash to close
- $111,972
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- $83/mo
- Cash-on-cash
- 0.9%
- Cap rate
- 6.2%
- DSCR
- 1.04×
Break-even
- Price that breaks even
- $416,589
- Rent that breaks even
- $4,192/mo
Long run
- Year 30: property vs stocks
- $1.77M vs $852K
- Cash flow turns positive
- year 1
The deal
- Price
- $399,900
- Cash to close
- $111,972
- Price per unit
- $99,975
- GRM
- 7.8
Each month
- Cash flow
- −$281/mo
- Cash-on-cash
- −3.0%
- Cap rate
- 5.1%
- DSCR
- 0.86×
Break-even
- Price that breaks even
- $343,684
- Rent that breaks even
- $4,709/mo
Long run
- Year 30: property vs stocks
- $1.28M vs $928K
- Cash flow turns positive
- year 7
The deal
- Price
- $389,900
- Cash to close
- $109,172
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- $133/mo
- Cash-on-cash
- 1.5%
- Cap rate
- 6.4%
- DSCR
- 1.07×
Break-even
- Price that breaks even
- $416,589
- Rent that breaks even
- $4,127/mo
Long run
- Year 30: property vs stocks
- $1.80M vs $831K
- Cash flow turns positive
- year 1
The deal
- Price
- $389,900
- Cash to close
- $109,172
- Price per unit
- $97,475
- GRM
- 7.6
Each month
- Cash flow
- −$231/mo
- Cash-on-cash
- −2.5%
- Cap rate
- 5.3%
- DSCR
- 0.88×
Break-even
- Price that breaks even
- $343,684
- Rent that breaks even
- $4,636/mo
Long run
- Year 30: property vs stocks
- $1.29M vs $885K
- Cash flow turns positive
- year 6
Monthly
Monthly breakdown
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$2,394 |
| PMI | −$225 |
| Cash flow | −$541 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$2,394 |
| PMI | −$225 |
| Cash flow | −$905 |
| Principal paid down (equity, not cash) | $305 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$475 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$2,335 |
| PMI | −$219 |
| Cash flow | −$839 |
| Principal paid down (equity, not cash) | $297 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$2,128 |
| Cash flow | −$50 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$2,128 |
| Cash flow | −$414 |
| Principal paid down (equity, not cash) | $271 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$2,075 |
| Cash flow | $3 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$2,075 |
| Cash flow | −$360 |
| Principal paid down (equity, not cash) | $264 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$1,995 |
| Cash flow | $83 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$1,995 |
| Cash flow | −$281 |
| Principal paid down (equity, not cash) | $254 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Net operating income | $2,079 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | $133 |
| Principal paid down (equity, not cash) | $248 |
| Rent | $4,300 |
| Vacancy (6%) | −$258 |
| Collected | $4,042 |
| Property tax Listing | −$436 |
| Insurance Estimate | −$396 |
| Water, sewer, trash Estimate | −$340 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$344 |
| Capital reserve (9% of rent) | −$387 |
| Property management | −$364 |
| Net operating income | $1,715 |
| Mortgage (principal + interest) | −$1,946 |
| Cash flow | −$231 |
| Principal paid down (equity, not cash) | $248 |
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
- $912,422
- Rental profits, invested at 7%
- $484,905
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $359,910 of loan.
$277,127 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,738
- Monthly shortfalls, invested
- $148,826
$51,987 put into an index fund instead of the down payment and closing costs.
$23,060 you'd have paid in while the building lost money, invested instead.
The building comes out $852,763 ahead after 30 years.
- Your equity when you sell
- $912,422
- Rental profits, invested at 7%
- $167,828
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $359,910 of loan.
$116,648 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $395,738
- Monthly shortfalls, invested
- $397,608
$51,987 put into an index fund instead of the down payment and closing costs.
$70,265 you'd have paid in while the building lost money, invested instead.
The building comes out $286,904 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $529,149
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $350,910 of loan.
$294,853 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,842
- Monthly shortfalls, invested
- $123,457
$50,687 put into an index fund instead of the down payment and closing costs.
$18,961 you'd have paid in while the building lost money, invested instead.
The building comes out $909,456 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $190,188
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $350,910 of loan.
$128,927 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $385,842
- Monthly shortfalls, invested
- $350,355
$50,687 put into an index fund instead of the down payment and closing costs.
$60,718 you'd have paid in while the building lost money, invested instead.
The building comes out $343,597 ahead after 30 years.
- Your equity when you sell
- $912,422
- Rental profits, invested at 7%
- $711,507
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $319,920 of loan.
$361,241 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,152
- Monthly shortfalls, invested
- $4,247
$91,977 put into an index fund instead of the down payment and closing costs.
$597 you'd have paid in while the building lost money, invested instead.
The building comes out $919,530 ahead after 30 years.
- Your equity when you sell
- $912,422
- Rental profits, invested at 7%
- $286,298
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $319,920 of loan.
$176,865 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $700,152
- Monthly shortfalls, invested
- $144,897
$91,977 put into an index fund instead of the down payment and closing costs.
$23,905 you'd have paid in while the building lost money, invested instead.
The building comes out $353,671 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $767,591
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $311,920 of loan.
$379,804 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,644
$89,677 put into an index fund instead of the down payment and closing costs.
The building comes out $974,553 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $316,717
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $311,920 of loan.
$190,703 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $682,644
- Monthly shortfalls, invested
- $114,985
$89,677 put into an index fund instead of the down payment and closing costs.
$18,583 you'd have paid in while the building lost money, invested instead.
The building comes out $408,695 ahead after 30 years.
- Your equity when you sell
- $912,422
- Rental profits, invested at 7%
- $858,050
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $299,925 of loan.
$408,534 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,359
$111,972 put into an index fund instead of the down payment and closing costs.
The building comes out $918,114 ahead after 30 years.
- Your equity when you sell
- $912,422
- Rental profits, invested at 7%
- $367,420
Sells for $970,662 (value up 3% a year), minus 6% selling cost ($58,240). Rent paid down $299,925 of loan.
$212,616 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $852,359
- Monthly shortfalls, invested
- $75,229
$111,972 put into an index fund instead of the down payment and closing costs.
$11,766 you'd have paid in while the building lost money, invested instead.
The building comes out $352,254 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $914,611
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $292,425 of loan.
$426,497 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,045
$109,172 put into an index fund instead of the down payment and closing costs.
The building comes out $973,172 ahead after 30 years.
- Your equity when you sell
- $889,607
- Rental profits, invested at 7%
- $402,712
Sells for $946,390 (value up 3% a year), minus 6% selling cost ($56,783). Rent paid down $292,425 of loan.
$227,076 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $831,045
- Monthly shortfalls, invested
- $53,960
$109,172 put into an index fund instead of the down payment and closing costs.
$8,263 you'd have paid in while the building lost money, invested instead.
The building comes out $407,313 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 $1.40M, stocks $545K. The property wins.
Year 30 (loan paid off): property $1.08M, stocks $793K. The property wins.
Year 30 (loan paid off): property $1.42M, stocks $509K. The property wins.
Year 30 (loan paid off): property $1.08M, stocks $736K. The property wins.
Year 30 (loan paid off): property $1.62M, stocks $704K. The property wins.
Year 30 (loan paid off): property $1.20M, stocks $845K. The property wins.
Year 30 (loan paid off): property $1.66M, stocks $683K. The property wins.
Year 30 (loan paid off): property $1.21M, stocks $798K. The property wins.
Year 30 (loan paid off): property $1.77M, stocks $852K. The property wins.
Year 30 (loan paid off): property $1.28M, stocks $928K. The property wins.
Year 30 (loan paid off): property $1.80M, stocks $831K. The property wins.
Year 30 (loan paid off): property $1.29M, stocks $885K. The property wins.
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.
2 bed / 1 bath estimate $1,200/mo · range $1,100–$1,300
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 207 S 17th Ave E, Unit 2, Duluth 55812 | $1,400 | 2 / 1 | 0.1 mi | 94% |
| 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% |
| 1731 E Superior St, Apt 102, Duluth 55812 off market | $1,150 | 2 / 1 | 0.2 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 1E, Duluth 55805 off market | $1,300 | 2 / 1 | 0.2 mi | 94% |
| 1414 E 1st St, Unit 3E, Duluth 55805 off market | $1,325 | 2 / 1 | 0.2 mi | 94% |
| 1414 Jefferson St, Duluth 55805 off market | $1,200 | 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% |
1 bed / 1 bath estimate $950/mo · range $875–$1,050
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 1602 E 1st St, Apt 5, Duluth 55812 off market | $950 | 1 / 1 | 0.1 mi | 94% |
| 1513 E Superior St, Duluth 55812 off market | $900 | 1 / 1 | 0.1 mi | 94% |
| 213 S 17th Ave E Apt D, 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% |
| 1731 E Superior St, Apt 105, Duluth 55812 off market | $895 | 1 / 1 | 0.2 mi | 94% |
| 1731 E Superior St, Apt 203, Duluth 55812 off market | $1,025 | 1 / 1 | 0.2 mi | 94% |
| 230 N 16th Ave E, Apt 1, Duluth 55812 off market | $825 | 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 | 0.2 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
- highNo rent roll or stated rents; the 1% rule claim is unsupported and above our estimates Listing says: meeting the sought-after 1% rule for rental investments · 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 2 AND 4 S 16TH AVE E
- mediumVague 'sound' claim with no system ages, inspections or specifics Listing says: The property is structurally and mechanically sound · AI review
- mediumStone foundation with visible crumbling or patched mortar on an 1891 building Based on: photo 1 · AI review
- mediumInteriors look heavily worn: dated kitchens and baths, stained walls Based on: photo 6 · AI review
- mediumUnit count and layout unverified; the address is an 'And' listing (2 and 4) and it matched no county parcel Based on: data: rule_flags · AI review
Opportunities
- Dated kitchens and baths give a value-add path if rents can rise after updates Based on: photo 4 · AI review
- Coin laundry is a small extra income source, if it's real Listing says: Includes coin operated laundry for additional income. · AI review
- No rent cap in Duluth, so rents can follow the market after a refresh Based on: data: underwriting.rent_rule · AI review
Questions for the agent
- Can I see the rent roll, leases and security deposits for all four units?
- Which units are on month-to-month leases, and when were rents last raised?
- Which utilities does the owner pay? Is there one boiler or separate heat per unit?
- What is the age of the roof, boilers, water heaters and electrical panels, and is there any fuse wiring?
- How much does the coin laundry actually bring in per year?
- Why has it sat 80 days, and is the 2 and 4 address one parcel with a valid four-unit rental license?
Bottom line
A tired 1891 fourplex with no rent roll and an unproven '1% rule' claim; it may pencil at a lower price, so verify rents and systems first. 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. | $5,238 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $4,750 |
| 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. built 1891: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-07-17 (80 days).
| Date | Event | Price |
|---|---|---|
| Listed | $399,900 |
From the listing Listing
| Listed as | multi-family |
| Property tax, 2026 | $5,238 |
| County | St. Louis County |
| Parcel number | 010-1460-04500 |
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.