Remodeled Duplex With Lake
For Sale
$309,000
25 E 7th St, Duluth, MN 55805
Shared garage and basement laundry serve both units, with one off-street parking space.
Property Size1,760 SF
Price / SF$175.57
Days on Market60
Property Features for 25 E 7th St
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
privacy fence
greenhouse
shed
basement laundry
lake views
Building Details
Year Built
1906
Listing Agency:
RE/MAX Results
Listed By:
Michelle Ryan
(218) 393-0289
Source:
Homesminn
Added: Aug 7
Changed: Sep 30
Last Checked: Oct 4 at 1:58PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This duplex, built in 1906, features updated interiors and a broad package of improvements, including hardwood floors, refreshed electrical service, newer roofing, updated bathrooms, and replacement windows. The chimney has been lined, and the water line has been replaced. Both units share basement laundry and a two-car garage. Additional site features include a privacy fence, greenhouse, and shed.
The upstairs residence has lake views. Parking includes one off-street space along with street parking at the front of the property. The address is 25 E 7th St in Duluth, Minnesota.
The upstairs residence has lake views. Parking includes one off-street space along with street parking at the front of the property. The address is 25 E 7th St in Duluth, Minnesota.
Key Highlights
- Duplex with 1,760 PropertySize
- Built in 1906
- Updated electric, bathrooms, windows, roof, chimney lining, and water line
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,684
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,680
$313.7K
Cap Rate 7%
$224,057
$224.1K
Cap Rate 9%
$174,267
$174.3K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$23.8K $13.50/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$22.4K $12.73/SF
− OpEx
−$6.7K −$3.82/SF
NOI
$15.7K $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 Rate 5%
$313,680
Cap Rate 7%
$224,057
Cap Rate 9%
$174,267
Alternative Uses
Best Use
Multifamily LT 5
$224.1K
$196.1K – $261.4K
NOI $15,684 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$205.9K
$180.2K – $240.2K
NOI $14,413 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$682.7K
$597.4K – $796.5K
NOI $47,791 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,989
Businesses Nearby
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Business Placement
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - Shared garage and basement laundry serve both units, with one off-street parking space.
Where is this duplex located?
The property is located at 25 E 7th St Duluth, MN.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Duplex with 1,760 PropertySize; Built in 1906; Updated electric, bathrooms, windows, roof, chimney lining, and water line
