Duplex with Interconnected
For Sale
$799,999
1424 E Skyline Parkway, Duluth, MN 55802
One unit is rented and the other is vacant, with an interior stairway linking the two residences.
Property Size3,514 SF
Price / SF$227.66
Days on Market10
Property Features for 1424 E Skyline Parkway
General Information
Standard status
Active
Size
3,514 SF
Total Parking Spaces
4
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
2004
Buildings
1
Listing Agency:
THINK. Home & Land (***)
Listed By:
Dave Lilja · License #40715559
(612) 810-8779
Source:
C21atwood
Added: Oct 5
Changed: Oct 11
Last Checked: Oct 12 at 8:18PM
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 THINK. Home & Land (***)
Investment Insights
Based on property information with market context.
Built in 2004, this 3,514-square-foot duplex has two residences, each with 3 bedrooms, 2 bathrooms, and an attached 2-car garage. An interior stairway connects the units, allowing them to function separately or as one home with 6 bedrooms, 4 bathrooms, and four garage stalls. Unit A is rented; Unit B is vacant.
At 1424 E Skyline Parkway in Duluth, the property has views across the city and Lake Superior.
At 1424 E Skyline Parkway in Duluth, the property has views across the city and Lake Superior.
Key Highlights
- 3,514‑square‑foot duplex built in 2004
- Two 3‑bedroom, 2‑bathroom residences, each with an attached 2‑car garage
- Interior stairway connects the units; combined layout offers 6 bedrooms, 4 bathrooms, and four garage stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,314
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$626,280
$626.3K
Cap Rate 7%
$447,343
$447.3K
Cap Rate 9%
$347,933
$347.9K
Market Conditions
NOI Build-Up for 3,514 SF
Gross rent
$47.4K $13.50/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$44.7K $12.73/SF
− OpEx
−$13.4K −$3.82/SF
NOI
$31.3K $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%
$626,280
Cap Rate 7%
$447,343
Cap Rate 9%
$347,933
Alternative Uses
Best Use
Multifamily LT 5
$447.3K
$391.4K – $521.9K
NOI $31,314 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$411.1K
$359.7K – $479.6K
NOI $28,777 @ 7.0% cap · market cap 3.60%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,419 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 55802, MN
2,544
Population
1,529
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
978
Density / Sq Mi
$40,850
Median Household Income
$42,266
Median Earnings
$596
Median Rent
$479,700
Median Home Value
Check the figures for this property
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 - One unit is rented and the other is vacant, with an interior stairway linking the two residences.
Where is this duplex located?
The property is located at 1424 E Skyline Parkway Duluth, MN.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 3,514‑square‑foot duplex built in 2004; Two 3‑bedroom, 2‑bathroom residences, each with an attached 2‑car garage; Interior stairway connects the units; combined layout offers 6 bedrooms, 4 bathrooms, and four garage stalls
