Up/Down Duplex with
For Sale
$298,000
Pending
1514 E 5th St, Duluth, MN 55812
Two-unit residential property with private access to each of its three levels and basement.
Property Size2,390 SF
Days on Market17
Property Features for 1514 E 5th St
General Information
Standard status
Pending
Size
2,390 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Building Details
Stories
3
Listing Agency:
CMRA, LLC
(218) 590-7570
Listed By:
Beth Wentzlaff · License #20251011
(218) 590-7570
Source:
Exprealty
Added: Aug 6
Changed: Aug 21
Last Checked: Aug 21 at 9:18AM
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 CMRA, LLC
Investment Insights
Based on property information with market context.
This 2,390-square-foot duplex is arranged in an up-and-down configuration, with generously sized rooms and private access extending through all three levels and the basement. The layout offers two-unit functionality while also supporting conversion into a single-family residence.
Located at 1514 E 5th St in Duluth, Minnesota, the property combines a multi-level interior with a basement and flexible residential configuration. Its room sizes, access arrangement, and adaptable layout provide a clear physical foundation for either duplex occupancy or single-family use.
Located at 1514 E 5th St in Duluth, Minnesota, the property combines a multi-level interior with a basement and flexible residential configuration. Its room sizes, access arrangement, and adaptable layout provide a clear physical foundation for either duplex occupancy or single-family use.
Key Highlights
- 2,390‑square‑foot up/down duplex
- Private access to all 3 levels and basement
- Large rooms throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,298
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,960
$426.0K
Cap Rate 7%
$304,257
$304.3K
Cap Rate 9%
$236,644
$236.6K
Market Conditions
NOI Build-Up for 2,390 SF
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.
Gross rent
$32.3K $13.50/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$30.4K $12.73/SF
− OpEx
−$9.1K −$3.82/SF
NOI
$21.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,960
Cap Rate 7%
$304,257
Cap Rate 9%
$236,644
Alternative Uses
Best Use
Multifamily LT 5
$304.3K
$266.2K – $355.0K
NOI $21,298 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$279.6K
$244.7K – $326.2K
NOI $19,572 @ 7.0% cap · market cap 6.57%
Theoretical Best
Specialty Retail
$927.1K
$811.2K – $1.08M
NOI $64,898 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 55812, MN
10,571
Population
3,954
Households
2.7
Avg Household Size
27
Median Age
60%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
5,564
Density / Sq Mi
$66,961
Median Household Income
$16,485
Median Earnings
$1,216
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with private access to each of its three levels and basement.
Where is this duplex located?
The property is located at 1514 E 5th St Duluth, MN.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 2,390‑square‑foot up/down duplex; Private access to all 3 levels and basement; Large rooms throughout the property
