2417 Vermilion Rd

Duplex · 2 units: 5 bed / 2 bath ×2 · 2,912 sq ft

Cash flows

27 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $500,000
Monthly cash flow: $95
Estimated rent: $4,950/mo
Break-even price: $517,935

Adjust the numbers See the full breakdown

From the listing

High-Capacity Duplex with Exceptional Income Potential in Excellent Condition Welcome to 2417 Vermilion Rd-an impressive duplex offering spacious layouts and outstanding rental potential. With identical units, this property is ideal for investors seeking consistency and strong occupancy appeal. Each unit features 5 bedrooms and 2 full bathrooms, providing ample space for tenants and maximizing rental income. The open-concept living area flows seamlessly into the kitchen, creating a functional and inviting space for everyday living and gathering. Both units mirror each other in layout and design, making management straightforward and efficient. Shared laundry is conveniently located in the basement, and the tuck-under garage offers excellent storage space for the owner or landlord. The duplex is equipped with electric heat and an air exchanger, supporting efficiency and year-round comfort. With plenty of off-street parking, this property becomes even more attractive-when paired with the neighboring single family rental at 2425 Vermilion Rd, offering a unique opportunity to expand your investment portfolio side-by-side. With plenty of off-street parking and large unit sizes that are hard to find, this property stands out as a high-performing investment opportunity. Spacious, functional, and income-generating-this is a property you don't want to miss. ***THIS PROPERTY MUST BE PURCHASED WITH 2425 Vermilion Rd***

Listing courtesy of RE/MAX Results (Tracy Ramsay). Description from Realtor.com, MLS #6124160. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

Two identical 5-bed/2-bath units in a 2003 build for $500K, and it must be bought together with the neighboring single-family at 2425 Vermilion. That bundle is the biggest issue: the real price, taxes and numbers for the combined deal are unknown, so our $95/month cash flow on this half alone may not mean much. Actual rents in our data are $1,900 and $2,100 against a $2,475 midpoint estimate each, but the description states no rents, so get a rent roll and leases. Ten bedrooms of likely student-style renters means heavy wear, and the photos show tired but serviceable finishes. It has sat 195 days, so there is room to negotiate. Worth a showing only if the package price and the other house's numbers work.

Things to consider

Must be bought with 2425 Vermilion Rd You are underwriting two properties, and the combined price, taxes and rents decide the return. Our figures cover only this duplex.Listing says: “***THIS PROPERTY MUST BE PURCHASED WITH 2425 Vermilion Rd***”
Thin cash flow at asking Our model shows about $95/month and a 6.6% cap rate at asking, with a break-even price near $518K, so there is little cushion for repairs or vacancy.
Rents below market estimate Actual rents of $1,900 and $2,100 trail our $2,475 midpoint, which is upside if tenants turn over or leases allow resets. Verify them with leases.
Taxes and unit count unverified No parcel match means the tax bill is a guess, and taxes can move cash flow a lot on a $500K purchase.
Heavy-use 5-bed units Large shared-household units tend to have more wear and turnover, so budget higher repairs and vacancy.Listing says: “Each unit features 5 bedrooms and 2 full bathrooms”
Ceiling stain in the kitchen The stain may come from an old leak or from the unit above; confirm the source and whether it is fixed.From photo 1

From the photos

Based on 10 of the listing photos. Photos can hide as much as they show; an inspection is the real answer.

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: $500,000
Cash to close: $115,000
Price per unit: $250,000
GRM: 8.4

Each month

Cash flow: $95/mo
Cash-on-cash: 1.0%
Cap rate: 6.6%
DSCR: 1.04×

Break-even

Price that breaks even: $517,935
Rent that breaks even: $4,826/mo

Long run

Year 30: property vs stocks: $2.31M vs $930K
Cash flow turns positive: year 2

Monthly

Monthly breakdown

Rent	$4,950
Vacancy (6%)	−$297
Collected	$4,653
Property tax Listing	−$614
Insurance Estimate	−$211
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$446
Capital reserve (8% of rent)	−$396
Net operating income	$2,757
Mortgage (principal + interest)	−$2,661
Cash flow	$95
Principal paid down (equity, not cash)	$339

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

If you buy this building$2,306,955

Your equity when you sell: $1,140,813
Rental profits, invested at 7%: $1,166,141

Same money in stocks$929,709

Cash to close, invested at 7%: $875,409
Monthly shortfalls, invested: $54,300

The building comes out $1,377,246 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

This propertyStocks at 7%

Year 30 (loan paid off): property $2.31M, stocks $930K. 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.

5 bed / 2 bath estimate $2,475/mo · range $2,075–$2,900

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
2115 E 1st St, Duluth 55812 off market	$2,475	5 / 2	1,944	2.0 mi	2026-01-06	89%
1723 E 5th St, Unit Upper, Duluth 55812 off market	$1,775	5 / 1	—	2.1 mi	2026-03-13	86%
1911 E 3rd St, Apt 1, Duluth 55812 off market	$2,800	6 / 2	2,400	2.0 mi	2026-01-21	83%
1 N Hawthorne Rd, Duluth 55812	$2,800	4 / 2	2,150	1.4 mi	2026-08-24	82%
314 W Arrowhead Rd, Duluth 55803 off market	$2,600	5 / 2	—	0.9 mi	2026-01-29	78%
1813-1819 E 2nd St, Duluth 55812 off market	$1,450	4 / 2	1,816	2.1 mi	2026-02-13	78%
2307 E Superior St, Apt 2, Duluth 55812 off market	$2,100	4 / 2	1,756	1.9 mi	2026-07-05	78%
402 W College St, Duluth 55812 off market	$2,500	5 / 2	—	1.8 mi	2026-02-19	77%
1307 N 20th Ave E, Duluth 55812 off market	$2,300	5 / 2	—	1.8 mi	2026-02-15	77%
116 E Niagara St, Duluth 55811 off market	$2,750	5 / 2	—	1.8 mi	2026-02-16	77%

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

highForced bundle sale with a second property; the price and financing for the combined deal are unclear Listing says: ***THIS PROPERTY MUST BE PURCHASED WITH 2425 Vermilion Rd*** · 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 2417 VERMILION RD
mediumTen bedrooms in two units means heavy wear, higher turnover and likely occupancy-limit questions Listing says: Each unit features 5 bedrooms and 2 full bathrooms · AI review
lowElectric baseboard heat throughout can mean high tenant bills and turnover, and owner may cover common areas Listing says: The duplex is equipped with electric heat and an air exchanger · AI review

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 195 days on market
Current rents are below market. Rents can reset to market at renewal. Based on: Listing rents vs. our market estimate: Unit 1: 5 bed / 2 bath $1,900 vs $2,475, Unit 2: 5 bed / 2 bath $2,100 vs $2,475
195 days on market gives leverage to negotiate price Based on: data: listing.days_on_market · AI review
Identical units simplify management and repairs Listing says: Both units mirror each other in layout and design, making management straightforward and efficient. · AI review

Questions for the agent

What is the combined price and can the two properties be financed or closed separately?
Can we see the rent roll, lease dates and security deposits for both units?
What are the real property taxes and are there any special assessments?
Who pays electric for common areas and the basement laundry, and what were the last 12 months of owner utility costs?
Are both units licensed as rentals in Duluth, and for how many occupants each?
Why has it sat since March, and have there been price cuts or offers?

Bottom line

Big, identical 5-bed units with rents below market look interesting, but the forced two-property package and unverified taxes make the real numbers unknowable until you see the whole deal. 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.	$7,370
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,528
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
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. 10 bedrooms: +1 pt repairs for wear	9% / 8%

Price history Realtor.com

On the market since 2026-03-24 (195 days); last sold for $44,000 on 2003-10-23.

Date	Event	Price
2026-09-24	Removed	$500,000
2026-03-25	Listed	$500,000
2026-03-24	Listed	$500,000
2003-10-23	Sold public record	$44,000
2003-02-21	Sold public record	$38,000

From the listing Listing

Listed as	duplex
Property tax, 2026	$7,370
County	St. Louis County
Parcel number	010-3870-00160

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.