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613 N 59th Ave W

Duplex · 2 units: 1 bed / 1 bath ×2 · 1,374 sq ft

Duluth, MN · View the listing ↗

Cash flows

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

Asking price
$164,900
2 units · $82K per unit
Monthly cash flow
$302
at 20% down, 7%
Estimated rent
$2,150/mo
high confidence
Break-even price
$221,581
where cash flow hits $0

Adjust the numbers See the full breakdown

First look

Two matching 1-bed units at $1,100 each, leased through 9/27/2027, on a $164,900 ask. Our estimate puts these units at $975\u2013$1,150, so the stated rents are in range and not stretched. Our underwriting shows about $302/month cash flow at a 8.6% cap with 20% down, which is unusually decent for today's rates. But the owner pays heat, water and sewer, and we couldn't match a county parcel, so taxes are unverified. That is the first thing to check. Photos show dated interiors and a deck of tight, worn finishes, so ask for utility bills and a tax figure before a showing. Worth a look if those hold up.

Things to consider

  1. Owner-paid heat, water and sewer These costs are not recovered from tenants and can swing cash flow by hundreds a month. Get actual bills.Listing says: “the owner covers heat, water, and sewer”
  2. Rents match our estimate At $1,100 versus a $1,075 mid estimate, there is little room to raise rents. Income looks real rather than inflated.
  3. Taxes unverified No county parcel matched, so the tax figure behind the cash flow may be off. Duluth investor taxes can be higher than expected.
  4. Leases locked through 2027 Stable income for over a year lowers vacancy risk, but check that deposits and tenant history are solid.Listing says: “both leases running through 9/27/2027”
  5. Dated interiors and a 1904 build Worn bathrooms and kitchens plus an old building mean reserves for turnover and system replacement.From photo 7

From the photos

Listing photo 2
1 of 7Check

Exterior is a two-story house with older wood-shingle style siding and a front porch; paint appears worn and it is shaded by heavy vegetation. Check siding and porch condition up close.

Listing photo 7
2 of 7Concern

Bathroom has older tile with visible staining and peeling or discolored spots on the wall tile, and a dated vanity. Appears original and worn.

Listing photo 8
3 of 7Concern

Kitchen in one unit has older oak cabinets, laminate counters and tile floor. Functional but dated.

Listing photo 6
4 of 7Plus

Other kitchen has older white cabinets, a gas range and vinyl plank flooring that appears newer. Mixed finish ages.

Listing photo 3
5 of 7Check

Drop ceiling tiles in a living room and a bathroom; may hide ceiling or plumbing issues above.

Listing photo 9
6 of 7Plus

Two separate kitchens with their own appliances support the two-unit setup.

Listing photo 1
7 of 7Check

No photos of the basement, furnace, water heater, electrical panel, roof or garage. Heat is owner-paid, so the furnace matters most.

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

Rents the listing states

  • Upper: $1,100 (lease)Listing says: leased at $1,100/month
  • Lower: $1,100 (lease)Listing says: both leases running through 9/27/2027

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

Down payment %
Offer $
Management
Interest rate %
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
$164,900
Cash to close
$37,927
Price per unit
$82,450
GRM
6.4

Each month

Cash flow
$302/mo
Cash-on-cash
9.5%
Cap rate
8.6%
DSCR
1.34×

Break-even

Price that breaks even
$221,581
Rent that breaks even
$1,758/mo

Long run

Year 30: property vs stocks
$1.18M vs $289K
Cash flow turns positive
year 1

Monthly

Monthly breakdown

Rent$2,150
Vacancy (6%)−$129
Collected$2,021
Property tax Listing−$220
Insurance Estimate−$196
Lawn care ($120 × 6 mo ÷ 12)−$60
Repairs (8% of rent)−$172
Capital reserve (9% of rent)−$194
Net operating income$1,179
Mortgage (principal + interest)−$878
Cash flow$302
Principal paid down (equity, not cash)$112

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$1,175,287
Your equity when you sell
$376,241

Sells for $400,256 (value up 3% a year), minus 6% selling cost ($24,015). Rent paid down $131,920 of loan.

Rental profits, invested at 7%
$799,047

$334,671 of cash flow over 30 years, plus what it earned invested.

Same money in stocks$288,710
Cash to close, invested at 7%
$288,710

$37,927 put into an index fund instead of the down payment and closing costs.

The building comes out $886,577 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 $1.18M, stocks $289K. 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.

1 bed / 1 bath estimate $1,075/mo · range $975–$1,150

AddressRentBd / BaSq ftDistanceListedMatch
4813 W 5th St, Duluth 55807 off market $900 1 / 1 — 0.4 mi 2025-10-31 93%
317 N 42nd Ave W, Apt 1, Duluth 55807 off market $950 1 / 1 — 1.0 mi 2026-06-26 92%
815 N 1st Ave N, Unit 2, Proctor 55810 off market $965 1 / 1 — 2.3 mi 2026-02-17 90%
1 N 2nd Ave, Proctor 55810 off market $1,200 1 / 1 — 2.4 mi 2026-08-25 90%
2228 W 3rd St, Apt 4, Duluth 55806 off market $975 1 / 1 — 2.7 mi 2026-06-20 90%
2210 W 5th St, Apt 3, Duluth 55806 off market $995 1 / 1 — 2.7 mi 2026-08-14 90%
2210 W 5th Street W 5th St, Units 3 & 2210, Dul… off market $995 1 / 1 — 2.7 mi 2026-08-03 90%
2210 W 5th St, Apt 2, Duluth 55806 off market $950 1 / 1 — 2.7 mi 2026-03-20 90%
2618 W 5th St, Duluth 55806 off market $1,150 1 / 1 984 2.3 mi 2026-05-12 90%
1826 W 2nd St, Apt L, Duluth 55806 off market $900 1 / 1 — 3.0 mi 2026-05-15 89%

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 613 59TH AVE W N
  • mediumOwner pays heat, water and sewer on a 1904 building with one forced-air system likely shared. Utility cost could erode the cash flow shown. Listing says: the owner covers heat, water, and sewer · AI review
  • mediumTaxes and unit count are unverified because no county parcel matched. Tax bill could change the numbers. Based on: data: county.tax · AI review
  • lowListing says 'low-maintenance' but photos show dated bathrooms and kitchens. Based on: photo 7 · AI review

Opportunities

  • Leases run to Sept 2027, giving over a year of locked income with no rent cap in Duluth. Listing says: both leases running through 9/27/2027 · AI review
  • Garage and off-street parking help tenant retention and may support rent. Listing says: a detached 1-car garage, and 2 off-street parking spaces · AI review
  • Rents sit near our mid estimate, so little rent upside but also little downside. Based on: data: rent_estimate · AI review

Questions for the agent

  • Can you provide the last 12 months of gas, water and sewer bills?
  • What are the current property taxes, and is there any special assessment?
  • Is there one furnace or two? Are there separate gas meters?
  • Can I see the leases, security deposits and tenant payment history?
  • Is the rental license current, and when was the last inspection?
  • How old are the roof, furnace, water heater and electrical panel?

Bottom line

Fairly priced duplex with leased tenants at market rents and decent cash flow on paper, but verify taxes and owner-paid heat 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.$2,636
Insurance / yr Estimateestimate. from units, square feet and age; get a quote$2,358
Water, sewer, trash / mo Listinglisting. tenants pay water$0
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 1904: +1 pt capital reserve8% / 9%

Price history Realtor.com

On the market since 2026-10-01 (4 days); last sold for $65,000 on 2017-02-13; listed for rent at $900/mo on 2021-09-23.

DateEventPrice
Listed$164,900
Removed—
Listed for rent$900/mo
Sold public record$65,000
Sold public record$35,000
Sold$39,900
Listed$39,900
Sold$16,000
Listed$30,300
Removed$64,900
Listed$64,900
Removed$69,900
Relisted$69,900
Removed$69,900
Listed$72,900

From the listing Listing

Listed asduplex
Property tax, 2026$2,636
CountySt. Louis County
Parcel number010-0420-01950

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.