621 3rd Ave
Duplex · 2 units: 3 bed / 1.5 bath and 1 bed / 1 bath · 2,473 sq ft
Two Harbors, MN · View the listing ↗
Photos courtesy of RE/MAX Results, via Realtor.com.
- Asking price
- $455,900 2 units · $228K per unit
- Monthly cash flow
- −$201 at 20% down, 7%
- Estimated rent
- $3,850/mo low confidence
- Break-even price
- $418,136 where cash flow hits $0
First look
This is priced as a short-term rental business, not a plain duplex. The $91,000 gross is the seller's claim, and our long-term rent estimates (about $3,850 a month combined at the midpoint) leave cash flow at about -$201 a month at the ask with 20% down. The cap rate is 5.9% and break-even price is about $418K, so it only works if the STR numbers hold up. Ask for 24 months of bookings, platform payouts, and tax filings before anything else. Worth a showing only if the seller can document net income, not just gross, and the city allows STR use going forward.
Things to consider
- STR income is unverified gross Gross revenue says nothing about profit. Cleaning, fees, utilities, furnishing wear and vacancy can take a big share, and the buyer pays for all of it.Listing says: “Generating an annual average of approximately $91,000 in gross short term rental revenue”
- Long-term rents don't support the price Our underwriting shows negative cash flow at ask. If STR rules or demand change, you could be stuck with a monthly loss.
- Regulatory risk on short-term rentals Cities and counties can change STR rules. Confirm permit status and whether it transfers.
- Taxes and unit count unverified We couldn't match a county parcel, so tax bill and legal unit count are unknown. Taxes could rise on sale.
- Old building with refreshed finishes Cosmetic updates in an 1893 building may mask older systems. Get an inspection of heat, wiring, plumbing and foundation.
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
- doneMeticulously updated and maintained throughoutListing says: Meticulously updated and maintained throughout, it is sold furnished and ready to continue operating as a short-term rental
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
- $455,900
- Cash to close
- $59,267
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$761/mo
- Cash-on-cash
- −15.4%
- Cap rate
- 5.9%
- DSCR
- 0.75×
Break-even
- Price that breaks even
- $339,758
- Rent that breaks even
- $4,838/mo
Long run
- Year 30: property vs stocks
- $1.50M vs $691K
- Cash flow turns positive
- year 9
The deal
- Price
- $455,900
- Cash to close
- $59,267
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$1,086/mo
- Cash-on-cash
- −22.0%
- Cap rate
- 5.0%
- DSCR
- 0.64×
Break-even
- Price that breaks even
- $290,033
- Rent that breaks even
- $5,435/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $938K
- Cash flow turns positive
- year 15
The deal
- Price
- $445,900
- Cash to close
- $57,967
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- −$695/mo
- Cash-on-cash
- −14.4%
- Cap rate
- 6.0%
- DSCR
- 0.76×
Break-even
- Price that breaks even
- $339,758
- Rent that breaks even
- $4,753/mo
Long run
- Year 30: property vs stocks
- $1.51M vs $649K
- Cash flow turns positive
- year 8
The deal
- Price
- $445,900
- Cash to close
- $57,967
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- −$1,021/mo
- Cash-on-cash
- −21.1%
- Cap rate
- 5.1%
- DSCR
- 0.65×
Break-even
- Price that breaks even
- $290,033
- Rent that breaks even
- $5,340/mo
Long run
- Year 30: property vs stocks
- $1.24M vs $880K
- Cash flow turns positive
- year 14
The deal
- Price
- $455,900
- Cash to close
- $104,857
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$201/mo
- Cash-on-cash
- −2.3%
- Cap rate
- 5.9%
- DSCR
- 0.92×
Break-even
- Price that breaks even
- $418,136
- Rent that breaks even
- $4,111/mo
Long run
- Year 30: property vs stocks
- $1.72M vs $832K
- Cash flow turns positive
- year 5
The deal
- Price
- $455,900
- Cash to close
- $104,857
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$527/mo
- Cash-on-cash
- −6.0%
- Cap rate
- 5.0%
- DSCR
- 0.78×
Break-even
- Price that breaks even
- $356,940
- Rent that breaks even
- $4,618/mo
Long run
- Year 30: property vs stocks
- $1.37M vs $992K
- Cash flow turns positive
- year 10
The deal
- Price
- $445,900
- Cash to close
- $102,557
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- −$148/mo
- Cash-on-cash
- −1.7%
- Cap rate
- 6.0%
- DSCR
- 0.94×
Break-even
- Price that breaks even
- $418,136
- Rent that breaks even
- $4,042/mo
Long run
- Year 30: property vs stocks
- $1.74M vs $802K
- Cash flow turns positive
- year 4
The deal
- Price
- $445,900
- Cash to close
- $102,557
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- −$473/mo
- Cash-on-cash
- −5.5%
- Cap rate
- 5.1%
- DSCR
- 0.80×
Break-even
- Price that breaks even
- $356,940
- Rent that breaks even
- $4,541/mo
Long run
- Year 30: property vs stocks
- $1.38M vs $943K
- Cash flow turns positive
- year 10
The deal
- Price
- $455,900
- Cash to close
- $127,652
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$49/mo
- Cash-on-cash
- −0.5%
- Cap rate
- 5.9%
- DSCR
- 0.98×
Break-even
- Price that breaks even
- $446,011
- Rent that breaks even
- $3,914/mo
Long run
- Year 30: property vs stocks
- $1.86M vs $976K
- Cash flow turns positive
- year 2
The deal
- Price
- $455,900
- Cash to close
- $127,652
- Price per unit
- $227,950
- GRM
- 9.9
Each month
- Cash flow
- −$375/mo
- Cash-on-cash
- −3.5%
- Cap rate
- 5.0%
- DSCR
- 0.84×
Break-even
- Price that breaks even
- $380,736
- Rent that breaks even
- $4,397/mo
Long run
- Year 30: property vs stocks
- $1.46M vs $1.08M
- Cash flow turns positive
- year 8
The deal
- Price
- $445,900
- Cash to close
- $124,852
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- $1/mo
- Cash-on-cash
- 0.0%
- Cap rate
- 6.0%
- DSCR
- 1.00×
Break-even
- Price that breaks even
- $446,011
- Rent that breaks even
- $3,849/mo
Long run
- Year 30: property vs stocks
- $1.89M vs $950K
- Cash flow turns positive
- year 1
The deal
- Price
- $445,900
- Cash to close
- $124,852
- Price per unit
- $222,950
- GRM
- 9.7
Each month
- Cash flow
- −$325/mo
- Cash-on-cash
- −3.1%
- Cap rate
- 5.1%
- DSCR
- 0.85×
Break-even
- Price that breaks even
- $380,736
- Rent that breaks even
- $4,324/mo
Long run
- Year 30: property vs stocks
- $1.47M vs $1.04M
- Cash flow turns positive
- year 7
Monthly
Monthly breakdown
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,730 |
| PMI | −$256 |
| Cash flow | −$761 |
| Principal paid down (equity, not cash) | $347 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,730 |
| PMI | −$256 |
| Cash flow | −$1,086 |
| Principal paid down (equity, not cash) | $347 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,670 |
| PMI | −$251 |
| Cash flow | −$695 |
| Principal paid down (equity, not cash) | $340 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,670 |
| PMI | −$251 |
| Cash flow | −$1,021 |
| Principal paid down (equity, not cash) | $340 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,426 |
| Cash flow | −$201 |
| Principal paid down (equity, not cash) | $309 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,426 |
| Cash flow | −$527 |
| Principal paid down (equity, not cash) | $309 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,373 |
| Cash flow | −$148 |
| Principal paid down (equity, not cash) | $302 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,373 |
| Cash flow | −$473 |
| Principal paid down (equity, not cash) | $302 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,275 |
| Cash flow | −$49 |
| Principal paid down (equity, not cash) | $289 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,275 |
| Cash flow | −$375 |
| Principal paid down (equity, not cash) | $289 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Net operating income | $2,225 |
| Mortgage (principal + interest) | −$2,225 |
| Cash flow | $1 |
| Principal paid down (equity, not cash) | $283 |
| Rent | $3,850 |
| Vacancy (6%) | −$231 |
| Collected | $3,619 |
| Property tax Listing | −$287 |
| Insurance Estimate | −$222 |
| Water, sewer, trash Estimate | −$170 |
| Lawn care ($120 × 6 mo ÷ 12) | −$60 |
| Repairs (8% of rent) | −$308 |
| Capital reserve (9% of rent) | −$346 |
| Property management | −$326 |
| Net operating income | $1,900 |
| Mortgage (principal + interest) | −$2,225 |
| Cash flow | −$325 |
| Principal paid down (equity, not cash) | $283 |
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
- $1,040,194
- Rental profits, invested at 7%
- $460,289
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $410,310 of loan.
$277,921 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $451,156
- Monthly shortfalls, invested
- $240,251
$59,267 put into an index fund instead of the down payment and closing costs.
$38,305 you'd have paid in while the building lost money, invested instead.
The building comes out $809,076 ahead after 30 years.
- Your equity when you sell
- $1,040,194
- Rental profits, invested at 7%
- $200,312
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $410,310 of loan.
$140,297 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $451,156
- Monthly shortfalls, invested
- $486,915
$59,267 put into an index fund instead of the down payment and closing costs.
$86,630 you'd have paid in while the building lost money, invested instead.
The building comes out $302,434 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $497,405
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $401,310 of loan.
$294,159 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $441,260
- Monthly shortfalls, invested
- $207,754
$57,967 put into an index fund instead of the down payment and closing costs.
$32,717 you'd have paid in while the building lost money, invested instead.
The building comes out $865,768 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $222,102
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $401,310 of loan.
$152,387 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $441,260
- Monthly shortfalls, invested
- $439,092
$57,967 put into an index fund instead of the down payment and closing costs.
$76,894 you'd have paid in while the building lost money, invested instead.
The building comes out $359,127 ahead after 30 years.
- Your equity when you sell
- $1,040,194
- Rental profits, invested at 7%
- $677,261
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $364,720 of loan.
$366,139 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $798,198
- Monthly shortfalls, invested
- $34,064
$104,857 put into an index fund instead of the down payment and closing costs.
$5,022 you'd have paid in while the building lost money, invested instead.
The building comes out $885,193 ahead after 30 years.
- Your equity when you sell
- $1,040,194
- Rental profits, invested at 7%
- $330,264
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $364,720 of loan.
$207,484 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $798,198
- Monthly shortfalls, invested
- $193,708
$104,857 put into an index fund instead of the down payment and closing costs.
$32,317 you'd have paid in while the building lost money, invested instead.
The building comes out $378,551 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $724,384
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $356,720 of loan.
$383,306 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $780,690
- Monthly shortfalls, invested
- $20,855
$102,557 put into an index fund instead of the down payment and closing costs.
$3,028 you'd have paid in while the building lost money, invested instead.
The building comes out $940,216 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $358,919
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $356,720 of loan.
$220,897 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $780,690
- Monthly shortfalls, invested
- $162,032
$102,557 put into an index fund instead of the down payment and closing costs.
$26,568 you'd have paid in while the building lost money, invested instead.
The building comes out $433,574 ahead after 30 years.
- Your equity when you sell
- $1,040,194
- Rental profits, invested at 7%
- $819,316
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $341,925 of loan.
$416,305 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $971,720
- Monthly shortfalls, invested
- $4,212
$127,652 put into an index fund instead of the down payment and closing costs.
$592 you'd have paid in while the building lost money, invested instead.
The building comes out $883,577 ahead after 30 years.
- Your equity when you sell
- $1,040,194
- Rental profits, invested at 7%
- $418,234
Sells for $1,106,589 (value up 3% a year), minus 6% selling cost ($66,395). Rent paid down $341,925 of loan.
$247,203 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $971,720
- Monthly shortfalls, invested
- $109,772
$127,652 put into an index fund instead of the down payment and closing costs.
$17,439 you'd have paid in while the building lost money, invested instead.
The building comes out $376,936 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $871,664
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $334,425 of loan.
$433,676 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $950,405
$124,852 put into an index fund instead of the down payment and closing costs.
The building comes out $938,636 ahead after 30 years.
- Your equity when you sell
- $1,017,377
- Rental profits, invested at 7%
- $451,224
Sells for $1,082,316 (value up 3% a year), minus 6% selling cost ($64,939). Rent paid down $334,425 of loan.
$261,184 of cash flow over 30 years, plus what it earned invested.
- Cash to close, invested at 7%
- $950,405
- Monthly shortfalls, invested
- $86,202
$124,852 put into an index fund instead of the down payment and closing costs.
$13,457 you'd have paid in while the building lost money, invested instead.
The building comes out $431,995 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 $1.50M, stocks $691K. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $938K. The property wins.
Year 30 (loan paid off): property $1.51M, stocks $649K. The property wins.
Year 30 (loan paid off): property $1.24M, stocks $880K. The property wins.
Year 30 (loan paid off): property $1.72M, stocks $832K. The property wins.
Year 30 (loan paid off): property $1.37M, stocks $992K. The property wins.
Year 30 (loan paid off): property $1.74M, stocks $802K. The property wins.
Year 30 (loan paid off): property $1.38M, stocks $943K. The property wins.
Year 30 (loan paid off): property $1.86M, stocks $976K. The property wins.
Year 30 (loan paid off): property $1.46M, stocks $1.08M. The property wins.
Year 30 (loan paid off): property $1.89M, stocks $950K. The property wins.
Year 30 (loan paid off): property $1.47M, stocks $1.04M. 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.
3 bed / 1.5 bath estimate $2,150/mo · range $1,150–$3,150
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 514 13th Ave, Two Harbors 55616 off market | $3,600 | 3 / 1.5 | 0.7 mi | 79% |
| 902 9th Ave, Two Harbors 55616 off market | $1,750 | 3 / 1 | 0.4 mi | 77% |
| 758 Whipoorwill Ln, Two Harbors 55616 off market | $2,995 | 3 / 2.5 | 4.9 mi | 73% |
| 507 6th Ave, Two Harbors 55616 off market | $1,050 | 1 / 1 | 0.2 mi | 72% |
| 530 1st Ave, Two Harbors 55616 | $1,090 | 2 / 1 | 0.2 mi | 68% |
| 278 E 1st St, Knife River 55609 | $1,995 | 3 / 2 | 7.1 mi | 67% |
| 530 1st Ave, Apt 2, Two Harbors 55616 | $975 | 1 / 1 | 0.2 mi | 58% |
| 278 Scenic Dr Furnished 4 Br On Lk, Knife River 55609 off market | $3,750 | 4 / 2.5 | 6.8 mi | 58% |
| 1240 Airport Rd, Two Harbors 55616 | $2,795 | 1 / 1.5 | 2.2 mi | 57% |
| 5427 N Shore Dr, Township of, Duluth 55804 off market | $950 | 1 / 1 | 12.7 mi | 54% |
1 bed / 1 bath estimate $1,700/mo · range $1,150–$1,700
| Address | Rent | Bd / Ba | Distance | Match |
|---|---|---|---|---|
| 507 6th Ave, Two Harbors 55616 off market | $1,050 | 1 / 1 | 0.2 mi | 94% |
| 530 1st Ave, Apt 2, Two Harbors 55616 | $975 | 1 / 1 | 0.2 mi | 79% |
| 5427 N Shore Dr, Township of, Duluth 55804 off market | $950 | 1 / 1 | 12.7 mi | 75% |
| 1240 Airport Rd, Two Harbors 55616 | $2,795 | 1 / 1.5 | 2.2 mi | 74% |
| 530 1st Ave, Two Harbors 55616 | $1,090 | 2 / 1 | 0.2 mi | 70% |
| 6024 Bergquist Rd, Duluth 55804 off market | $2,150 | 1 / 1 | 11.5 mi | 62% |
| 119 Copperhead Rd, Knife River 55609 off market | $2,500 | 1 / 1 | 6.8 mi | 61% |
| 5427 N Shore Dr, Apt 1, Duluth 55804 | $950 | 1 / 1 | 12.7 mi | 61% |
| 902 9th Ave, Two Harbors 55616 off market | $1,750 | 3 / 1 | 0.4 mi | 60% |
| 514 13th Ave, Two Harbors 55616 off market | $3,600 | 3 / 1.5 | 0.7 mi | 57% |
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
- highIncome is gross short-term rental revenue, not net. Seller's figure with no expenses, vacancy, platform fees, or taxes shown. Listing says: Generating an annual average of approximately $91,000 in gross short term rental revenue · AI review
- highCash flow is negative at asking price on long-term rent assumptions, so value depends on STR performance. 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 621 3RD AVE
- medium1893 building with no age given for roof, heat, wiring or plumbing. Photos show a cosmetic refresh that can hide older systems. Based on: data: listing.year_built · AI review
- mediumShort-term rental legality and licensing are unverified, and no rental license data was found. Based on: data: city.rental_license · AI review
Opportunities
- Flexible use: live in one unit, run STR, or switch to long-term rental. Listing says: provide the flexibility to live in one unit while earning income from the other · AI review
- Sold furnished, so a buyer can keep operating without a furnishing cost. Listing says: it is sold furnished and ready to continue operating as a short-term rental · AI review
- Each unit has separate utilities and laundry, which simplifies long-term tenancy. Listing says: Both have private laundry and separate utilities. · AI review
Questions for the agent
- Can you provide 24 months of booking calendars, platform payout statements, and tax returns for the STR income?
- What are the annual expenses: utilities, cleaning, platform fees, lodging taxes, insurance, and property tax?
- Is a short-term rental license or permit in place, and does it transfer to a buyer?
- What is included in the sale: furniture, linens, listing accounts, and reviews?
- How old are the roof, heating systems, water heaters, and electrical panels?
- Why is the seller selling, and why has it sat 61 days?
Bottom line
A nicely refreshed duplex priced on unverified STR gross income; at long-term rents it loses money, so get the books before you get 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. | $3,448 |
| Insurance / yr Estimateestimate. from units, square feet and age; get a quote | $2,660 |
| 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 1893: +1 pt capital reserve | 8% / 9% |
Price history Realtor.com
On the market since 2026-08-05 (61 days); last sold for $250,000 on 2023-11-30.
| Date | Event | Price |
|---|---|---|
| Listed | $455,900 | |
| Listed | $455,900 | |
| Sold | $250,000 | |
| Listed | $249,000 | |
| Sold | $65,000 | |
| Price changed | $89,000 | |
| Price changed | $99,000 | |
| Listed | $109,000 | |
| Removed | $89,900 | |
| Listed | $89,900 | |
| Removed | $99,900 | |
| Listed | $99,900 | |
| Removed | $99,900 | |
| Listed | $99,900 | |
| Sold public record | $85,000 |
From the listing Listing
| Listed as | duplex |
| Property tax, 2026 | $3,448 |
| County | Lake County |
| Parcel number | 23-7660-15115 |
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.