Cash flows19 days on marketPending
2772 Wellington St, Duluth
Duplex · 2 units: 2 bed / 1 bath ×2 unit split estimated · 1,739 sq ft · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
+$416 monthly cash flow
After every cost, including reserves for vacancy and repairs, this duplex puts about $416 a month in your pocket. That’s a 12.4% yearly return on the $40,227 you’d put in.
At $174,900, 20% down, 7.00% for 30 years, self-managed.
- Cash-on-cash return
- 12.4% Yearly cash flow ÷ cash in
- Cap rate
- 9.2% Return if you paid all cash
- Cash to close
- $40,227 Down payment + closing costs
- Break-even price
- $253,139 Most you can pay and still cash flow
The listing, and how its numbers compare
MLS #7159907What the seller says
Fully leased up-and-down duplex in West Duluth, just off Grand Ave. Each unit is a 2-bedroom, 1-bath layout: Unit 1 on the main level (854 sq ft) and Unit 2 upstairs (885 sq ft). Both have character touches like original wood trim and hardwood floors. Both units are on leases running into 2027, bringing in $2,200/month combined. Tenants pay electric, gas and trash, which keeps the owner expenses to water and sewer. Outside, there is a detached 2-stall garage plus 2 off-street parking spaces on a 50x125 lot. The full walkout basement adds storage potential, and low-maintenance metal siding covers the exterior. The property is rental licensed and ready for an investor looking for steady income from day one.
Listing courtesy of RE/MAX Results (Jordan Decaro).
The seller’s numbers vs. ours (yearly)
| Line | Seller | Boardwalk |
|---|---|---|
| Gross income | $25,701 | — |
| Property tax | $4,216 (2026) | — |
| Trash | $556 | — |
| Heat (fuel) | $3,788 | — |
| Electric | $483 | — |
| Maintenance / repairs | $3,184 | — |
| Operating expenses | $14,798 | — |
| Net operating income | $10,904 | — |
Seller’s figures as stated in the listing. Ours include vacancy and reserves, and update with your edits.
The building
- Type
- Duplex Up and Down
- Year built
- 1909
- Living area
- 1,739 sq ft
- Exterior
- Metal · Frame
- Roof
- Asphalt Shingles
- Basement
- Full, Walkout
Systems and utilities
- Heating
- Forced Air · Electric, Natural Gas
- Water / sewer
- City Water · City Sewer
- Tenants pay
- Electricity, Fuel, Trash Collection
- Owner pays
- Sewer, Water
Parking and lot
- Garage
- 2 spaces
- Parking
- Detached Garage
- Lot
- 0.14 acres · 50x125
- 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 | $2,550 |
| Vacancy | −$153 |
| Property tax | −$351 |
| Insurance | −$205 |
| Water, sewer, trash | $0 |
| Repairs and capital reserve | −$434 |
| Net operating income | $1,347 |
| Mortgage (principal + interest) | −$931 |
| Cash flow | $416 |
Detailed assumptions
30 years: this building vs. the same money in stocks
The building comes out $1.08M aheadYear 30 (loan paid off): this building $1,382,865, the same money in stocks $306,218.
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: $1,275/mo · range $1,225–$1,500 · 11 rentals within 0.5 mi · medium confidence
Median asking rent of nearby rentals with the same bedroom count (within 0.5 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 |
|---|---|---|---|
| 2821 Wicklow St, Duluth | $1,600 | 2 / 1 | 0.0 mi |
| 2751 Wellington St Unit 2, Duluth | $1,156asked $1,150 | 2 / 1 | 0.1 mi |
| 2751 Wellington St Unit Lower, Duluth | $1,272asked $1,255 | 2 / 1 | 0.1 mi |
| 422 N 27th Ave W, Duluth | $1,200 | 2 / 1 | 0.1 mi |
| 2955 Exeter St, Duluth | $1,200 | 2 / 1 | 0.1 mi |
| 424 Michigan Ave Unit 1, Duluth | $1,495 | 2 / 1 | 0.2 mi |
| 209 N 27th Ave W, Duluth | $986asked $975 | 2 / 1 | 0.2 mi |
| 2705 W 2nd St, Duluth | $1,195 | 2 / 1 | 0.2 mi |
| 2714 W 2nd St Apt 2, Duluth | $1,280 | 2 / 1 | 0.2 mi |
| 217 N 25th Ave W, Duluth | $1,245 | 2 / 1 | 0.3 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 $129,900 on 2016-06-16; listed for rent at $1,050/mo on 2023-08-04.
| Date | Event | Price |
|---|---|---|
| Listed | $174,900 | |
| Rental removed | — | |
| Listed for rent | $1,050/mo | |
| Rental removed | — | |
| Listed for rent | $990/mo | |
| Listed for rent | $990/mo | |
| Sold | $129,900 | |
| Listed | $129,900 | |
| Sold | $119,000 | |
| Sold public record | $119,000 | |
| Listed | $124,900 | |
| Removed | $129,900 | |
| Listed | $129,900 | |
| Removed | $138,900 | |
| Listed | $138,900 | |
| Removed | $138,900 | |
| Listed | $138,900 | |
| Sold public record | $58,500 |
From the listing
| Listed as | Duplex up and down |
| Property tax, 2026 | $4,216 |
| County | St. Louis |
| Parcel number | 010443001010 |
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
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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.