Side-by-Side Duplex
2403 & 2407 W 3rd St Duluth, MN 55806
For Sale
$399,900
MULTI_FAMILY - Duluth, MN
Property Size3,830 SF
Lot Size0.21 Acres
Price / SF$104.41
Days on Market11
Property Features for 2403 & 2407 W 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 6, Bedroom 8, Bedroom 5, Basement, Bedroom 2
Standard status
Active
APN
010-1180-01580, 010-1180-01570, 010-1180-01560
Size
3,830 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5778
Utilities
Heating system
Oil
Building Details
Year built
1903
Floors in Building
2
Number of units
4
Listing Agency:
RE/MAX Results
(952) 829-2900
Listed By:
Adam Paulson
(952) 829-2900
Added: Jul 17
Last Checked: Jul 27 at 12:06PM
MLS# 6126832
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 offering consists of two side-by-side duplexes at 2403 & 2407 W 3rd St in Duluth, totaling four rental units. The properties are described as structurally and mechanically sound, with opportunities for cosmetic updates. The buildings also include convenient coin-operated laundry, adding another source of on-site resident utility income.
The combined site is listed at 0.21 acres with a total property size of 3,830 square feet. Seller’s notes indicate both duplexes are income-producing and intended for investors seeking multi-property ownership within a single package.
The combined site is listed at 0.21 acres with a total property size of 3,830 square feet. Seller’s notes indicate both duplexes are income-producing and intended for investors seeking multi-property ownership within a single package.
Key Highlights
- Two side‑by‑side duplexes totaling 4 rental units
- Both properties are structurally and mechanically sound, with room for cosmetic updates
- Includes coin‑operated laundry for additional income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.7k | $13.50 |
| − Vacancy | −$2.9k | −$0.77 |
| EGI | $48.8k | $12.73 |
| − OpEx | −$14.6k | −$3.82 |
| NOI | $34.1k | $8.91 |
3,830 SF · lease $13.50/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$487.6K
$426.6K – $568.8K
NOI $34,130 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.8K
NOI $31,365 @ 7.0% cap · market cap 7.84%
Theoretical Best
Specialty Retail
$1.49M
$1.30M – $1.73M
NOI $104,000 @ 7.0% cap · market cap 26.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Two side-by-side duplexes totaling four rental units, each with coin-operated laundry and room for cosmetic updates.
Where is this quadplex located?
The property is located at 2403 & 2407 W 3rd St Duluth, MN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two side‑by‑side duplexes totaling 4 rental units; Both properties are structurally and mechanically sound, with room for cosmetic updates; Includes coin‑operated laundry for additional income
