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    109 3rd St Cloquet, MN 55720

    View on Map
    New
    For Sale
    $225,000

    Duplex, Up & Down - Cloquet, MN

    Type:Duplex
    Property size:
    2,541 SF
    Lot size:
    0.18 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 7 at 7:06 pm

    Property Features for 109 3rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    2
    Parking features
    Driveway
    EntryLevel
    1,2
    Basement Y/N
    1
    Appliances
    Range, Refrigerator
    Standard status
    Active
    APN
    06-005-0700 and 06-005-0840
    Size
    2,541 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    3994.84

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1919
    Floors in Building
    2
    Number of units
    2
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Brok Hansmeyer
    Brok Hansmeyer

    Listing agent Brok Hansmeyer

    Listing office RE/MAX Results 2520 Maple Grove Road, Duluth, MN

    Listing date Apr 7, 2026

    MLS# 6124364 Listing URL

    Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Cloquet Duplex with Strong Rental

    This duplex in Cloquet, Minnesota, presents an investment opportunity or the option to occupy one unit while renting out the other. The property features a main floor apartment with three bedrooms, currently rented for $1,450 plus utilities, and includes access to basement laundry facilities. The upstairs apartment offers two bedrooms and is rented for $950 plus utilities. Both apartments are spacious, contributing to a total finished area exceeding 2,500 square feet. The property has a strong rental history, with both units leased until August 31, 2026. Recent updates include a roof replacement in 2025, maintenance-free flooring, hardwood floors, and vinyl windows. The upstairs apartment also features an updated kitchen and bathroom. The property includes a two-car garage, additional off-street parking, and a yard. The lot size is 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cloquet
    County
    Carlton
    State
    Minnesota
    Longitude
    -92.46057
    Latitude
    46.719025

    Nearby Similar for Sale

    • $399,000
      5,500 SF

      Cloquet Commercial/Industrial Space For Sale

      Commercial/Industrial space available for purchase in Cloquet, Minnesota.
      30 N 8th St, Cloquet, MN 55720
      View Details
    • $345,000
      3,036 SF

      Mixed-Use Property with Residential Unit

      Commercial space with a remodeled 3BR apartment and garage.
      1616 Cloquet Ave, Cloquet, MN
      View Details
    • $849,000
      18,812 SF

      Multi-Use Building in Cloquet

      Functional building suitable for manufacturing, retail, and office uses.
      1309 Ave C, Cloquet, MN 55720
      View Details

    FAQs

    What type of property is this?
    Duplex - Spacious duplex in Cloquet with long-term tenants.
    Where is this duplex located?
    The property is located at 109 3rd St Cloquet, MN.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Strong rental history with both units rented until 08/31/2026, providing immediate income.; **Spacious 3‑bedroom main floor apartment renting for $1,450 + utilities.**; Updated roof (replaced in 2025) and updated kitchen and bathroom in the upstairs apartment.
    (218) 390-1132
    We can help!
    Listing Contact
    Brok Hansmeyer
    Brok Hansmeyer
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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