614 N 6th Ave E

Triplex · 3 units: 1 bed / 1 bath ×3 · 3,537 sq ft

Far off

6 photos

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

Asking price: $419,900
Monthly cash flow: −$1,009
Estimated rent: $2,925/mo
Break-even price: $230,351

Adjust the numbers See the full breakdown

From the listing

Great investment opportunity in a convenient Duluth location! This spacious triplex offers 3 units with a total of 5 bedrooms and 3 bathrooms, plus over 3,500 square feet of finished space. Each unit features its own kitchen and bath, with functional layouts and plenty of natural light. The property also offers off-street parking for up to 5 vehicles and coin-operated laundry. Conveniently located near area hospitals, colleges, downtown Duluth, shopping, dining, and public transportation. A solid opportunity for an investor or owner-occupant looking for a multi-unit property in a high-demand area.

Listing courtesy of RE/MAX Results (Tom Little). Description from Realtor.com, MLS #6127609. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

First look

At $419,900 this triplex doesn't work at today's rates. Our underwriting shows about -$1,009 a month at a 3.5% cap, and break-even is near $230K, so the ask is roughly $190K too high. The description gives no rents, and our estimate is about $975 per 1-bed. The $1,545 and $1,000 'actual' figures in our data are unverified, so ask for the rent roll and leases. Taxes and unit count aren't matched to a county record, and the 5 beds across 3 units doesn't fit three 1-beds. Confirm the true unit mix and legal unit count first, then only show it if the seller is far closer to $230K.

Things to consider

Price versus income Our numbers show negative cash flow at ask and a break-even price near $230K. Rents would have to be far higher to close that gap.
Unit mix does not add up 5 beds across 3 units means a mix of sizes, but our rent estimate assumes three 1-beds. Rents depend on the real mix.Listing says: “total of 5 bedrooms and 3 bathrooms”
Unverified rents No rents are stated, and the higher figure in our data is unconfirmed. Get leases and bank deposits before trusting income.
Unknown taxes and legal status No county match means taxes and licensed unit count are unverified. Either could change the numbers or the loan.
1914 building systems Heat, wiring, plumbing and roof are not described, and the photos don't show them. Budget for an inspection.From photo 1

From the photos

Based on 1 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: $419,900
Cash to close: $96,577
Price per unit: $139,967
GRM: 12.0

Each month

Cash flow: −$1,009/mo
Cash-on-cash: −12.5%
Cap rate: 3.5%
DSCR: 0.55×

Break-even

Price that breaks even: $230,351
Rent that breaks even: $4,235/mo

Long run

Year 30: property vs stocks: $969K vs $1.43M
Cash flow turns positive: year 25

Monthly

Monthly breakdown

Rent	$2,925
Vacancy (6%)	−$176
Collected	$2,750
Property tax Listing	−$383
Insurance Estimate	−$329
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$234
Capital reserve (9% of rent)	−$263
Net operating income	$1,226
Mortgage (principal + interest)	−$2,235
Cash flow	−$1,009
Principal paid down (equity, not cash)	$284

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$969,340

Your equity when you sell: $958,056
Rental profits, invested at 7%: $11,285

Same money in stocks$1,428,069

Cash to close, invested at 7%: $735,169
Monthly shortfalls, invested: $692,900

Stocks come out $458,729 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 $969K, stocks $1.43M. Stocks win.

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 $975/mo · range $825–$1,125

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Match
627 E 5th St, Duluth 55805 off market	$1,030	1 / 1	—	0.1 mi	2026-02-27	94%
820 E 5th St, Apt 2, Duluth 55805 off market	$950	1 / 1	—	0.2 mi	2026-04-25	94%
820 E 5th St, Apt 1, Duluth 55805 off market	$925	1 / 1	—	0.2 mi	2026-04-29	94%
702 E 2nd St, Apt 9, Duluth 55805 off market	$900	1 / 1	—	0.3 mi	2026-07-13	94%
307 E 3rd St, Apt 72, Duluth 55805	$895	1 / 1	—	0.3 mi	2026-10-05	94%
301 E 3rd St, Apt 16, Duluth 55805 off market	$895	1 / 1	—	0.3 mi	2026-08-05	94%
305 E 3rd St, Apt 55, Duluth 55805 off market	$895	1 / 1	—	0.3 mi	2026-07-07	93%
124 N 8th Ave E Unit A, Duluth 55805 off market	$1,450	1 / 1	—	0.4 mi	2024-09-24	93%
218 E 4th St, Apt 2, Duluth 55805 off market	$900	1 / 1	—	0.4 mi	2026-09-02	93%
305 E 3rd St, Unit 34, Duluth 55805 off market	$895	1 / 1	—	0.3 mi	2026-04-02	93%

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

highPrice is far above what rents support; cash flow is deeply negative at ask Based on: data: underwriting.cash_flow_monthly · 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 614 6TH AVE E N
mediumAsking is $189,549 above the price where cash flow breaks even ($230,351) at the default scenario. Based on: Derived: price $419,900 vs. break-even $230,351
mediumTaxes, unit count and rental license are unverified, so the true expense load and legality are unknown Based on: data: county.tax · AI review
mediumHeating type and who pays utilities are not stated; a shared boiler would add owner cost Based on: data: county.heat_type · AI review
mediumNo rents or lease terms given, so income is unproven Based on: data: rent_estimate · AI review

Opportunities

Off-street parking for several vehicles is a real draw for tenants near hospitals and colleges Listing says: off-street parking for up to 5 vehicles · AI review
No rent cap in Duluth, so rents can move with the market after any updates Based on: data: underwriting.rent_rule · AI review

Questions for the agent

Can you share the current rent roll, lease dates and whether any tenants are month-to-month?
What is the exact bed/bath count for each unit, and is it licensed as a three-unit in Duluth?
What are the annual taxes and any special assessments?
How is each unit heated, and which utilities does the owner pay?
Does the owner own the coin laundry, and what does it earn?
Why has it sat 40 days, and is the seller open to a lower price?

Bottom line

Pretty brick triplex with unproven rents, priced about $190K above where the numbers work. 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.	$4,592
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$3,943
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1914: +1 pt capital reserve	8% / 9%

Price history Realtor.com

On the market since 2026-08-26 (40 days); last sold for $325,000 on 2024-09-30.

Date	Event	Price
2026-08-26	Listed	$419,900
2024-09-30	Sold	$325,000
2024-09-07	Listed	$325,000

From the listing Listing

Listed as	triplex
Property tax, 2026	$4,592
County	St. Louis County
Parcel number	010-3490-00265

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.