Duplex Property with
For Sale
$999,000
225 N 26th Ave E, Duluth, MN 55812
MULTI-FAMILY, Duluth, MN
Property Size5,169 SF
Lot Size0.32 Acres
Price / SF$193.27
Days on Market35
Property Features for 225 N 26th Ave E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking features
Driveway
Patio and Porch features
Deck
Exterior features
Deck
Basement
Concrete
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
N 26th Ave E to property on the left side of N 26th Ave E
Subdivision
LSAR
Standard status
Active
APN
010-2080-00450
Size
5,169 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10190
Utilities
Heating system
Radiant, Natural Gas, Oil
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Tom Little · License #20167296
(952) 829-2900
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 23 at 8:06PM
MLS# 6126493
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.
Investment Insights
Based on property information with market context.
This duplex property contains 5,169 square feet on a 0.32-acre lot and was built in 1940. The interior includes six bedrooms, four bathrooms, several living areas, a basement, and adaptable rooms for work, guests, or multigenerational use. A chef’s kitchen features walnut countertops and custom cabinetry, while exposed beams and wood detailing contribute to the interior character. Outdoor space includes a deck, and driveway parking is provided. Heating systems include radiant heat, natural gas, and oil.
The property is located at 225 N 26th Ave E in Duluth’s Congdon area. The source information places it near Lake Superior, shoreline access, parks, trails, and established neighborhood amenities. Its setting combines residential surroundings with access to outdoor recreation and the lakefront.
The property is located at 225 N 26th Ave E in Duluth’s Congdon area. The source information places it near Lake Superior, shoreline access, parks, trails, and established neighborhood amenities. Its setting combines residential surroundings with access to outdoor recreation and the lakefront.
Key Highlights
- 5,169 square feet on a 0.32‑acre lot
- Six bedrooms and four bathrooms
- Built in 1940 with a basement and multiple living areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,063
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$921,260
$921.3K
Cap Rate 7%
$658,043
$658.0K
Cap Rate 9%
$511,811
$511.8K
Market Conditions
NOI Build-Up for 5,169 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.8K $13.50/SF
− Vacancy
−$4.0K −$0.77/SF
EGI
$65.8K $12.73/SF
− OpEx
−$19.7K −$3.82/SF
NOI
$46.1K $8.91/SF
Area
St. Louis County, MN
Vacancy
5.70%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$921,260
Cap Rate 7%
$658,043
Cap Rate 9%
$511,811
Alternative Uses
Best Use
Multifamily LT 5
$658.0K
$575.8K – $767.7K
NOI $46,063 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$604.7K
$529.1K – $705.5K
NOI $42,330 @ 7.0% cap · market cap 4.24%
Theoretical Best
Specialty Retail
$2.01M
$1.75M – $2.34M
NOI $140,359 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 55812, MN
10,571
Population
3,954
Households
2.7
Avg Household Size
27
Median Age
60%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
5,564
Density / Sq Mi
$66,961
Median Household Income
$16,485
Median Earnings
$1,216
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multiple living areas and flexible rooms support work, guests, or multigenerational living.
Where is this duplex located?
The property is located at 225 N 26th Ave E Duluth, MN.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 5,169 square feet on a 0.32‑acre lot; Six bedrooms and four bathrooms; Built in 1940 with a basement and multiple living areas
