508 4th Ave
Duplex · 2 units: 2 bed / 1 bath and 3 bed / 1 bath · 1,746 sq ft
Two Harbors, MN · View the listing ↗
Photos courtesy of CENTURY 21 Atwood, via Realtor.com.
- Asking price
- $324,900 2 units · $162K per unit
- Monthly cash flow
- $578 at 20% down, 7%
- Estimated rent
- $3,775/mo high confidence
- Break-even price
- $433,557 where cash flow hits $0
First look
This is a 1888 up/down duplex in Two Harbors asking $324,900, with a 2-bed lower and a 3-bed upper. Our model shows about $578/mo cash flow and an 8.5% cap at ask, but the rent range is very wide ($1,025 to $3,025 on the upper) and taxes are unverified, so treat that as soft. The description gives no rents, and the only actual in our data is $1,150 on the upper, which is far below our mid estimate. Photos show a fresh main-level kitchen and bath, but the upper unit looks dated, the basement is shared, and the photos skip the panel and the roof. Worth a showing if the rent roll, tax bill and heat setup hold up. Ask first about separate meters and the boiler.
Things to consider
- Rent upside depends on the upper unit's condition and lease Our one actual rent, $1,150, is far below the mid estimate. Closing that gap may need a renovation, and the tenant's lease term decides when it can happen.
- Wide rent estimate range The low and high estimates are very far apart, so the modeled $578/mo cash flow could move a lot. Verify rents before trusting it.
- Taxes are unverified Without a parcel match, the tax figure is an estimate. A non-homestead bill could be higher than what the seller pays today.
- 1888 building with unknown systems The basement has a boiler-style system, an old panel and a block foundation. Their age drives reserves and insurability.From photo 7
- Utility split is unclear Shared basement, laundry and possibly one boiler could mean the owner pays heat or other costs, which would cut cash flow.Listing says: “convenient on-site laundry and storage in the basement”
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
- doneNew flooring, new kitchen and updated bathroom on main levelListing says: all-new flooring, a new kitchen, and an updated bathroom
- doneNew siding, windows, decking and stairsListing says: new siding, new windows, and a new decking and stairs
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
- $324,900
- Cash to close
- $42,237
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- $179/mo
- Cash-on-cash
- 5.1%
- Cap rate
- 8.5%
- DSCR
- 1.08×
Break-even
- Price that breaks even
- $352,289
- Rent that breaks even
- $3,548/mo
Long run
- Year 30: property vs stocks
- $1.99M vs $365K
- Cash flow turns positive
- year 2
The deal
- Price
- $324,900
- Cash to close
- $42,237
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- −$140/mo
- Cash-on-cash
- −4.0%
- Cap rate
- 7.3%
- DSCR
- 0.93×
Break-even
- Price that breaks even
- $303,533
- Rent that breaks even
- $3,973/mo
Long run
- Year 30: property vs stocks
- $1.53M vs $395K
- Cash flow turns positive
- year 4
The deal
- Price
- $314,900
- Cash to close
- $40,937
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- $245/mo
- Cash-on-cash
- 7.2%
- Cap rate
- 8.8%
- DSCR
- 1.12×
Break-even
- Price that breaks even
- $352,289
- Rent that breaks even
- $3,465/mo
Long run
- Year 30: property vs stocks
- $2.03M vs $350K
- Cash flow turns positive
- year 2
The deal
- Price
- $314,900
- Cash to close
- $40,937
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- −$74/mo
- Cash-on-cash
- −2.2%
- Cap rate
- 7.6%
- DSCR
- 0.96×
Break-even
- Price that breaks even
- $303,533
- Rent that breaks even
- $3,881/mo
Long run
- Year 30: property vs stocks
- $1.56M vs $372K
- Cash flow turns positive
- year 3
The deal
- Price
- $324,900
- Cash to close
- $74,727
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- $578/mo
- Cash-on-cash
- 9.3%
- Cap rate
- 8.5%
- DSCR
- 1.33×
Break-even
- Price that breaks even
- $433,557
- Rent that breaks even
- $3,043/mo
Long run
- Year 30: property vs stocks
- $2.26M vs $578K
- Cash flow turns positive
- year 2
The deal
- Price
- $324,900
- Cash to close
- $74,727
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- $259/mo
- Cash-on-cash
- 4.2%
- Cap rate
- 7.3%
- DSCR
- 1.15×
Break-even
- Price that breaks even
- $373,553
- Rent that breaks even
- $3,408/mo
Long run
- Year 30: property vs stocks
- $1.79M vs $599K
- Cash flow turns positive
- year 2
The deal
- Price
- $314,900
- Cash to close
- $72,427
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- $632/mo
- Cash-on-cash
- 10.5%
- Cap rate
- 8.8%
- DSCR
- 1.38×
Break-even
- Price that breaks even
- $433,557
- Rent that breaks even
- $2,976/mo
Long run
- Year 30: property vs stocks
- $2.29M vs $556K
- Cash flow turns positive
- year 2
The deal
- Price
- $314,900
- Cash to close
- $72,427
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- $312/mo
- Cash-on-cash
- 5.2%
- Cap rate
- 7.6%
- DSCR
- 1.19×
Break-even
- Price that breaks even
- $373,553
- Rent that breaks even
- $3,332/mo
Long run
- Year 30: property vs stocks
- $1.82M vs $577K
- Cash flow turns positive
- year 2
The deal
- Price
- $324,900
- Cash to close
- $90,972
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- $686/mo
- Cash-on-cash
- 9.1%
- Cap rate
- 8.5%
- DSCR
- 1.42×
Break-even
- Price that breaks even
- $462,460
- Rent that breaks even
- $2,906/mo
Long run
- Year 30: property vs stocks
- $2.37M vs $693K
- Cash flow turns positive
- year 2
The deal
- Price
- $324,900
- Cash to close
- $90,972
- Price per unit
- $162,450
- GRM
- 7.2
Each month
- Cash flow
- $367/mo
- Cash-on-cash
- 4.8%
- Cap rate
- 7.3%
- DSCR
- 1.23×
Break-even
- Price that breaks even
- $398,457
- Rent that breaks even
- $3,255/mo
Long run
- Year 30: property vs stocks
- $1.90M vs $714K
- Cash flow turns positive
- year 2
The deal
- Price
- $314,900
- Cash to close
- $88,172
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- $736/mo
- Cash-on-cash
- 10.0%
- Cap rate
- 8.8%
- DSCR
- 1.47×
Break-even
- Price that breaks even
- $462,460
- Rent that breaks even
- $2,843/mo
Long run
- Year 30: property vs stocks
- $2.41M vs $671K
- Cash flow turns positive
- year 1
The deal
- Price
- $314,900
- Cash to close
- $88,172
- Price per unit
- $157,450
- GRM
- 7.0
Each month
- Cash flow
- $417/mo
- Cash-on-cash
- 5.7%
- Cap rate
- 7.6%
- DSCR
- 1.27×
Break-even
- Price that breaks even
- $398,457
- Rent that breaks even
- $3,184/mo
Long run
- Year 30: property vs stocks
- $1.93M vs $688K
- Cash flow turns positive
- year 2
Monthly
Monthly breakdown
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,945 |
| PMI | −$183 |
| Cash flow | $179 |
| Principal paid down (equity, not cash) | $248 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,945 |
| PMI | −$183 |
| Cash flow | −$140 |
| Principal paid down (equity, not cash) | $248 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | $245 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,886 |
| PMI | −$177 |
| Cash flow | −$74 |
| Principal paid down (equity, not cash) | $240 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,729 |
| Cash flow | $578 |
| Principal paid down (equity, not cash) | $220 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,729 |
| Cash flow | $259 |
| Principal paid down (equity, not cash) | $220 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,676 |
| Cash flow | $632 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,676 |
| Cash flow | $312 |
| Principal paid down (equity, not cash) | $213 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,621 |
| Cash flow | $686 |
| Principal paid down (equity, not cash) | $206 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,621 |
| Cash flow | $367 |
| Principal paid down (equity, not cash) | $206 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Net operating income | $2,308 |
| Mortgage (principal + interest) | −$1,571 |
| Cash flow | $736 |
| Principal paid down (equity, not cash) | $200 |
| Rent | $3,775 |
| Vacancy (6%) | −$226 |
| Collected | $3,548 |
| Property tax Listing | −$240 |
| Insurance Estimate | −$205 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (7% of rent) | −$264 |
| Capital reserve (8% of rent) | −$302 |
| Property management | −$319 |
| Net operating income | $1,988 |
| Mortgage (principal + interest) | −$1,571 |
| Cash flow | $417 |
| Principal paid down (equity, not cash) | $200 |
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
- $741,301
- Rental profits, invested at 7%
- $1,250,247
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $292,410 of loan.
$573,363 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $321,519
- Monthly shortfalls, invested
- $43,697
$42,237 put into an index fund instead of the down payment and closing costs.
$6,142 you'd have paid in while the building lost money, invested instead.
The building comes out $1,626,332 ahead after 30 years.
- Your equity when you sell
- $741,301
- Rental profits, invested at 7%
- $789,345
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $292,410 of loan.
$396,183 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $321,519
- Monthly shortfalls, invested
- $73,246
$42,237 put into an index fund instead of the down payment and closing costs.
$10,401 you'd have paid in while the building lost money, invested instead.
The building comes out $1,135,880 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $1,314,268
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $283,410 of loan.
$594,403 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,623
- Monthly shortfalls, invested
- $38,105
$40,937 put into an index fund instead of the down payment and closing costs.
$5,356 you'd have paid in while the building lost money, invested instead.
The building comes out $1,683,025 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $846,212
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $283,410 of loan.
$416,127 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $311,623
- Monthly shortfalls, invested
- $60,501
$40,937 put into an index fund instead of the down payment and closing costs.
$8,518 you'd have paid in while the building lost money, invested instead.
The building comes out $1,192,573 ahead after 30 years.
- Your equity when you sell
- $741,301
- Rental profits, invested at 7%
- $1,517,759
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $259,920 of loan.
$655,165 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $568,841
- Monthly shortfalls, invested
- $9,641
$74,727 put into an index fund instead of the down payment and closing costs.
$1,355 you'd have paid in while the building lost money, invested instead.
The building comes out $1,680,577 ahead after 30 years.
- Your equity when you sell
- $741,301
- Rental profits, invested at 7%
- $1,048,252
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $259,920 of loan.
$476,670 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $568,841
- Monthly shortfalls, invested
- $30,586
$74,727 put into an index fund instead of the down payment and closing costs.
$4,299 you'd have paid in while the building lost money, invested instead.
The building comes out $1,190,125 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $1,573,546
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $251,920 of loan.
$673,687 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,333
- Monthly shortfalls, invested
- $5,097
$72,427 put into an index fund instead of the down payment and closing costs.
$717 you'd have paid in while the building lost money, invested instead.
The building comes out $1,735,600 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $1,104,039
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $251,920 of loan.
$495,192 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $551,333
- Monthly shortfalls, invested
- $26,042
$72,427 put into an index fund instead of the down payment and closing costs.
$3,661 you'd have paid in while the building lost money, invested instead.
The building comes out $1,245,148 ahead after 30 years.
- Your equity when you sell
- $741,301
- Rental profits, invested at 7%
- $1,631,042
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $243,675 of loan.
$692,776 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $692,502
- Monthly shortfalls, invested
- $414
$90,972 put into an index fund instead of the down payment and closing costs.
$58 you'd have paid in while the building lost money, invested instead.
The building comes out $1,679,425 ahead after 30 years.
- Your equity when you sell
- $741,301
- Rental profits, invested at 7%
- $1,161,535
Sells for $788,618 (value up 3% a year), minus 6% selling cost ($47,317). Rent paid down $243,675 of loan.
$514,282 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $692,502
- Monthly shortfalls, invested
- $21,359
$90,972 put into an index fund instead of the down payment and closing costs.
$3,002 you'd have paid in while the building lost money, invested instead.
The building comes out $1,188,974 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $1,687,188
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $236,175 of loan.
$710,681 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,188
$88,172 put into an index fund instead of the down payment and closing costs.
The building comes out $1,734,484 ahead after 30 years.
- Your equity when you sell
- $718,484
- Rental profits, invested at 7%
- $1,213,836
Sells for $764,345 (value up 3% a year), minus 6% selling cost ($45,861). Rent paid down $236,175 of loan.
$531,646 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $671,188
- Monthly shortfalls, invested
- $17,100
$88,172 put into an index fund instead of the down payment and closing costs.
$2,404 you'd have paid in while the building lost money, invested instead.
The building comes out $1,244,033 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 $1.99M, stocks $365K. The property wins.
Year 30 (loan paid off): property $1.53M, stocks $395K. The property wins.
Year 30 (loan paid off): property $2.03M, stocks $350K. The property wins.
Year 30 (loan paid off): property $1.56M, stocks $372K. The property wins.
Year 30 (loan paid off): property $2.26M, stocks $578K. The property wins.
Year 30 (loan paid off): property $1.79M, stocks $599K. The property wins.
Year 30 (loan paid off): property $2.29M, stocks $556K. The property wins.
Year 30 (loan paid off): property $1.82M, stocks $577K. The property wins.
Year 30 (loan paid off): property $2.37M, stocks $693K. The property wins.
Year 30 (loan paid off): property $1.90M, stocks $714K. The property wins.
Year 30 (loan paid off): property $2.41M, stocks $671K. The property wins.
Year 30 (loan paid off): property $1.93M, stocks $688K. 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 $1,750/mo · range $1,025–$2,450
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 507 6th Ave, Two Harbors 55616 off market | $1,050 | 1 / 1 | 0.2 mi | 84% |
| 530 1st Ave, Two Harbors 55616 | $1,090 | 2 / 1 | 0.2 mi | 79% |
| 530 1st Ave, Apt 2, Two Harbors 55616 | $975 | 1 / 1 | 0.2 mi | 70% |
| 902 9th Ave, Two Harbors 55616 off market | $1,750 | 3 / 1 | 0.5 mi | 69% |
| 5427 N Shore Dr, Township of, Duluth 55804 off market | $950 | 1 / 1 | 12.8 mi | 65% |
| 1240 Airport Rd, Two Harbors 55616 | $2,795 | 1 / 1.5 | 2.2 mi | 65% |
| 119 Copperhead Rd, Knife River 55609 off market | $2,500 | 1 / 1 | 6.9 mi | 55% |
| 278 E 1st St, Knife River 55609 | $1,995 | 3 / 2 | 7.2 mi | 55% |
| 758 Whipoorwill Ln, Two Harbors 55616 off market | $2,995 | 3 / 2.5 | 5.1 mi | 54% |
| 6024 Bergquist Rd, Duluth 55804 off market | $2,150 | 1 / 1 | 11.7 mi | 52% |
3 bed / 1 bath estimate $2,025/mo · range $1,025–$3,025
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 902 9th Ave, Two Harbors 55616 off market | $1,750 | 3 / 1 | 0.5 mi | 79% |
| 514 13th Ave, Two Harbors 55616 off market | $3,600 | 3 / 1.5 | 0.6 mi | 76% |
| 507 6th Ave, Two Harbors 55616 off market | $1,050 | 1 / 1 | 0.2 mi | 75% |
| 530 1st Ave, Two Harbors 55616 | $1,090 | 2 / 1 | 0.2 mi | 70% |
| 278 E 1st St, Knife River 55609 | $1,995 | 3 / 2 | 7.2 mi | 64% |
| 758 Whipoorwill Ln, Two Harbors 55616 off market | $2,995 | 3 / 2.5 | 5.1 mi | 64% |
| 530 1st Ave, Apt 2, Two Harbors 55616 | $975 | 1 / 1 | 0.2 mi | 60% |
| 5427 N Shore Dr, Township of, Duluth 55804 off market | $950 | 1 / 1 | 12.8 mi | 56% |
| 1240 Airport Rd, Two Harbors 55616 | $2,795 | 1 / 1.5 | 2.2 mi | 55% |
| 278 Scenic Dr Furnished 4 Br On Lk, Knife River 55609 off market | $3,750 | 4 / 2.5 | 6.9 mi | 55% |
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
- mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 508 4TH AVE
- mediumTaxes and unit count unverified; no county parcel match, so the tax bill in the model is a guess Based on: data: county.tax · AI review
- mediumDescription gives no rents, lease terms or expenses, so the income side is unsupported Based on: data: rent_estimate · AI review
- lowShared basement with laundry and storage; unclear how utilities and meters are split between units Listing says: convenient on-site laundry and storage in the basement · AI review
Opportunities
- Current rents are below market. Rents can reset to market at renewal. Based on: Listing rents vs. our market estimate: Unit 2: 3 bed / 1 bath $1,150 vs $2,025
- Upper rent in our data is $1,150 against a $2,025 mid estimate; room to raise at renewal, with no rent cap Based on: data: rent_estimate · AI review
- Recent exterior and main-level work lowers near-term capex on the lower unit Listing says: Exterior improvements include new siding, new windows, and a new decking and stairs · AI review
Questions for the agent
- What are the current rents, lease end dates and deposits for both units?
- Are gas and electric separately metered, and who pays heat? How many boilers or furnaces?
- What are the actual annual taxes, and is the property currently homesteaded?
- Who did the renovation work, and were permits pulled for the siding, windows and decks?
- What is the age of the roof, the panel type and amperage, and the water heater?
- Is the upper unit being renovated too, or is it left as-is?
Bottom line
Updated lower unit and exterior on an 1888 duplex with decent modeled numbers, but rents, taxes and systems are all unverified, so get the rent roll before getting excited. 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. | $2,876 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,460 |
| 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. built 1888: +1 pt capital reserve; "fully updated" in the description: -1 pts each | 7% / 8% |
Price history Realtor.com
On the market since 2026-09-09 (26 days); last sold for $148,800 on 2021-01-11.
| Date | Event | Price |
|---|---|---|
| Listed | $324,900 | |
| Sold | $148,800 | |
| Listed | $154,900 | |
| Removed | — | |
| Price changed | $157,900 | |
| Price changed | $159,900 | |
| Listed | $169,900 |
From the listing Listing
| Listed as | duplex |
| Property tax, 2026 | $2,876 |
| County | Lake County |
| Parcel number | 23-7660-16020 |
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 Two Harbors on rental licensing before you buy.