Duplex with Two
New
For Sale
$399,900
1415 E 4th St, Duluth, MN 55805
Separate upstairs and downstairs living areas support a six-bedroom rental configuration.
Property Size2,563 SF
Price / SF$156.03
Days on Market5
Property Features for 1415 E 4th St
General Information
Standard status
Active
Size
2,563 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$41,400
Multifamily Units
2
Building Details
Year Built
1909
Buildings
1
Tenancy
Single
Listing Agency:
RE/MAX Results
Listed By:
Jordan R DeCaro · License #40286367|WI79981-94
(952) 829-2900
Source:
Bradadamrealty
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 11:38AM
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 2,563-square-foot duplex, built in 1909, has four bedrooms upstairs and two on the lower level. Each level includes a kitchen, living room, and bathroom. Separate electrical panels, electric meters, gas meters, and boilers serve the two portions of the building. The property is currently leased to one group as a six-bedroom rental, with the current lease through 5/19/2027 and a subsequent lease running from 6/1/2027 to 5/19/2028.
The property includes a two-stall garage and five off-street parking spaces. Capital work includes a parking lot and sidewalk replacement in 2022 and garage bracing in 2025. An active City of Duluth rental license runs through 8/1/2028; the last inspection was 6/9/2026.
Chester Creek walking paths are two doors away, Burrito Union is less than half a block away, and a bus stop is approximately half a block away. The University of Minnesota Duluth is approximately 1.5 miles away, and CSS is 2 miles away.
The property includes a two-stall garage and five off-street parking spaces. Capital work includes a parking lot and sidewalk replacement in 2022 and garage bracing in 2025. An active City of Duluth rental license runs through 8/1/2028; the last inspection was 6/9/2026.
Chester Creek walking paths are two doors away, Burrito Union is less than half a block away, and a bus stop is approximately half a block away. The University of Minnesota Duluth is approximately 1.5 miles away, and CSS is 2 miles away.
Key Highlights
- 2,563 square feet; built in 1909
- Six bedrooms across two levels, with two kitchens, living rooms, and bathrooms
- Two electrical panels, two boilers, two electric meters, and two gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,840
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,800
$456.8K
Cap Rate 7%
$326,286
$326.3K
Cap Rate 9%
$253,778
$253.8K
Market Conditions
NOI Build-Up for 2,563 SF
Gross rent
$34.6K $13.50/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$32.6K $12.73/SF
− OpEx
−$9.8K −$3.82/SF
NOI
$22.8K $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%
$456,800
Cap Rate 7%
$326,286
Cap Rate 9%
$253,778
Alternative Uses
Best Use
Multifamily LT 5
$326.3K
$285.5K – $380.7K
NOI $22,840 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$299.8K
$262.4K – $349.8K
NOI $20,989 @ 7.0% cap · market cap 5.25%
Theoretical Best
Specialty Retail
$994.2K
$870.0K – $1.16M
NOI $69,596 @ 7.0% cap · market cap 17.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,707
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate upstairs and downstairs living areas support a six-bedroom rental configuration.
Where is this duplex located?
The property is located at 1415 E 4th 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: 2,563 square feet; built in 1909; Six bedrooms across two levels, with two kitchens, living rooms, and bathrooms; Two electrical panels, two boilers, two electric meters, and two gas meters
