Two-House Multifamily
For Sale
$449,900
1015 W 4th Street, Duluth, MN 55806
A separate vacant parcel adds fenced outdoor space, a garden, and a patio with a fire pit.
Property Size2,691 SF
Price / SF$167.19
Days on Market23
Property Features for 1015 W 4th Street
General Information
Standard status
Active
Size
2,691 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR, 1 x 2+BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
shared laundry facilities
fenced play area
fenced garden
patio with fire pit
Building Details
Year Built
1911
Buildings
2
Listing Agency:
Coldwell Banker Realty - Duluth (***)
Listed By:
Bill Wagner
(218) 355-8006
Source:
C21atwood
Added: Sep 24
Changed: Oct 11
Last Checked: Oct 14 at 11:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Duluth (***)
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Investment Insights
Based on property information with market context.
The 2,691-square-foot property, built in 1911, includes two houses and a vacant lot. The front house has an upper unit with 3 bedrooms, a full bath with a whirlpool tub, and a deck off the kitchen. Its lower unit has a full kitchen and a 3/4 bath; it previously served as a licensed child care center and can be converted to a one-bedroom rental. The second house is a duplex licensed for rental, with a 1-bedroom lower unit, a 2+ bedroom upper unit, and shared basement laundry.
The vacant lot has a fenced play area, a fenced garden, and a patio with a fire pit. The property is half a block from a bus line and within walking distance of Enger Park, Twin Ponds, and the Superior Hiking Trail; downtown is a short drive away.
The vacant lot has a fenced play area, a fenced garden, and a patio with a fire pit. The property is half a block from a bus line and within walking distance of Enger Park, Twin Ponds, and the Superior Hiking Trail; downtown is a short drive away.
Key Highlights
- Two houses and an additional vacant lot at 1015 W 4th Street
- 2,691 square feet; built in 1911
- Front house upper unit has 3 bedrooms, a full bath with whirlpool tub, and a deck off the kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,037
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,740
$440.7K
Cap Rate 7%
$314,814
$314.8K
Cap Rate 9%
$244,856
$244.9K
Market Conditions
NOI Build-Up for 2,691 SF
Gross rent
$42.6K $15.84/SF
− Vacancy
−$2.6K −$0.95/SF
EGI
$40.1K $14.89/SF
− OpEx
−$18.0K −$6.70/SF
NOI
$22.0K $8.19/SF
Area
St. Louis County, MN
Vacancy
6.00%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,740
Cap Rate 7%
$314,814
Cap Rate 9%
$244,856
Alternative Uses
Best Use
Apartment 5plus
$314.8K
$275.5K – $367.3K
NOI $22,037 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$913.4K – $1.22M
NOI $73,072 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 55806, MN
9,761
Population
4,848
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
2,871
Density / Sq Mi
$44,962
Median Household Income
$33,868
Median Earnings
$910
Median Rent
$156,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - A separate vacant parcel adds fenced outdoor space, a garden, and a patio with a fire pit.
Where is this multifamily property located?
The property is located at 1015 W 4th Street Duluth, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two houses and an additional vacant lot at 1015 W 4th Street; 2,691 square feet; built in 1911; Front house upper unit has 3 bedrooms, a full bath with whirlpool tub, and a deck off the kitchen
