Updated Quadplex With Tuck-Under
1529 E 5th St, Duluth, MN 55812
For Sale
$620,000
Four-unit building with private storage, dedicated parking, and upgraded mechanical systems.
Property Size3,050 SF
Price / SF$203.28
Days on Market97
Property Features for 1529 E 5th St
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
RE/MAX Results Duluth
Listed By:
Reisa Varin · License MN #40249362
(218) 343-6636
Source:
Homesminn
Added: Aug 8
Changed: Oct 25
Last Checked: Oct 7 at 5:17PM
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 Duluth
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Investment Insights
Based on property information with market context.
Located at 1529 E 5th St in Duluth, MN, this 3,050-square-foot quadplex contains four matching units with refinished hardwood flooring and preserved wood detailing. Each residence has two exits, while the lower level includes a tuck-under garage with two dedicated parking stalls per unit and individual openers.
Common-area amenities include coin-operated laundry positioned beside four private storage rooms. Building improvements include updated electrical and plumbing systems, conversion from fuel oil to natural gas, a repaired eyebrow roof accent, seamless gutters, and a brick exterior. The roof has been updated with a faux clay finish, combining contemporary maintenance work with the building’s existing architectural details.
Common-area amenities include coin-operated laundry positioned beside four private storage rooms. Building improvements include updated electrical and plumbing systems, conversion from fuel oil to natural gas, a repaired eyebrow roof accent, seamless gutters, and a brick exterior. The roof has been updated with a faux clay finish, combining contemporary maintenance work with the building’s existing architectural details.
Key Highlights
- Four‑unit multifamily property totaling 3,050 square feet
- Two dedicated parking stalls per unit in the tuck‑under garage
- Four private storage rooms and shared coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,180
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,600
$543.6K
Cap Rate 7%
$388,286
$388.3K
Cap Rate 9%
$302,000
$302.0K
Market Conditions
NOI Build-Up for 3,050 SF
Gross rent
$41.2K $13.50/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$38.8K $12.73/SF
− OpEx
−$11.6K −$3.82/SF
NOI
$27.2K $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%
$543,600
Cap Rate 7%
$388,286
Cap Rate 9%
$302,000
Alternative Uses
Best Use
Multifamily LT 5
$388.3K
$339.8K – $453.0K
NOI $27,180 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$356.8K
$312.2K – $416.3K
NOI $24,977 @ 7.0% cap · market cap 4.03%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,820 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit building with private storage, dedicated parking, and upgraded mechanical systems.
Where is this quadplex located?
The property is located at 1529 E 5th St Duluth, MN.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,050 square feet; Two dedicated parking stalls per unit in the tuck‑under garage; Four private storage rooms and shared coin‑operated laundry
