Updated Four-Unit
For Sale
$640,000
1529 E 5th St, Duluth, MN 55812
MULTI-FAMILY, Duluth, MN
Property Size3,050 SF
Lot Size0.09 Acres
Price / SF$209.84
Days on Market42
Property Features for 1529 E 5th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking features
Off Street, Driveway
Exterior features
Balcony, Gutter/Downspout
Basement
Unfinished, Concrete
Lot features
Corner Lot
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
E 8th Street to N 16th Ave E. Unit on corner.
Subdivision
LSAR
Standard status
Active
APN
010-1480-08610
Size
3,050 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5392
Utilities
Heating system
Oil, Natural Gas
Amenities
coin operated washer and dryer
private storage rooms
Building Details
Year built
1929
Floors in Building
2
Number of units
4
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Reisa Varin · License #40249362
(952) 829-2900
Added: Jul 19
Changed: Aug 19
Last Checked: Aug 29 at 12:06PM
MLS# 6126728
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1929, this 3,050-square-foot quadplex contains four units with matching layouts, refinished hardwood flooring, original wood details, and two exits per residence. The lower level includes a tuck-under garage with two assigned parking stalls for each unit, and every stall has a dedicated opener. Four private storage rooms sit beside a shared coin-operated washer and dryer.
The property has received electrical and plumbing updates, while the exterior includes a brick facade, seamless gutters, balconies, and a restored architectural eyebrow at the roofline. The 0.09-acre site is located at 1529 E 5th St in Duluth, Minnesota, within St. Louis County.
The property has received electrical and plumbing updates, while the exterior includes a brick facade, seamless gutters, balconies, and a restored architectural eyebrow at the roofline. The 0.09-acre site is located at 1529 E 5th St in Duluth, Minnesota, within St. Louis County.
Key Highlights
- Four‑unit property totaling 3,050 square feet
- Built in 1929 with refinished hardwood floors and preserved original woodwork
- Two dedicated parking stalls per unit, each with its own opener
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
$27,180
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
4.25%
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%
$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
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
$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 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%
$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 4.25%
Second Best
Apartment 5plus
$356.8K
$312.2K – $416.3K
NOI $24,977 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,820 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick multifamily property with dedicated parking, private storage, and shared laundry facilities.
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 $640,000.
What are key features of this property?
This property features: Four‑unit property totaling 3,050 square feet; Built in 1929 with refinished hardwood floors and preserved original woodwork; Two dedicated parking stalls per unit, each with its own opener
