Triplex with Covered
New
For Sale
$339,900
1625 E 1st St, Duluth, MN 55812
MULTI-FAMILY, Duluth, MN
Property Size1,984 SF
Lot Size0.17 Acres
Price / SF$171.32
Days on Market4
Property Features for 1625 E 1st St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Basement, Bathroom 1, Bathroom 3
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
16th to 1st, Left on 1st.
Subdivision
LSAR
Standard status
Active
APN
010-1480-03280
Size
1,984 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5334
Utilities
Heating system
Baseboard, Oil, Natural Gas
Building Details
Year built
1891
Floors in Building
2
Number of units
3
Listing Agency:
RE/MAX Results · RE/MAX International
Listed By:
Jordan Decaro
(952) 829-2900
Added: Oct 19
Last Checked: Oct 22 at 7:06AM
MLS# 6128490
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1891, this 1,984-square-foot triplex contains three apartments: a main-level two-bedroom, one-bath unit and two upper-level one-bedroom, one-bath units. Interior details include hardwood flooring, tall windows with decorative transoms, original trim, a fireplace mantel and an updated white kitchen. A covered porch and full basement are also part of the property, which occupies a 0.17-acre lot. A rental license is in place.
All three apartments are leased through 2027, and the leases must be honored. The owner pays for water, sewer and gas; tenants pay for electric service and trash.
All three apartments are leased through 2027, and the leases must be honored. The owner pays for water, sewer and gas; tenants pay for electric service and trash.
Key Highlights
- Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units
- 1,984 square feet on a 0.17‑acre lot
- Built in 1891
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,680
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,600
$353.6K
Cap Rate 7%
$252,571
$252.6K
Cap Rate 9%
$196,444
$196.4K
Market Conditions
NOI Build-Up for 1,984 SF
Gross rent
$26.8K $13.50/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$25.3K $12.73/SF
− OpEx
−$7.6K −$3.82/SF
NOI
$17.7K $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%
$353,600
Cap Rate 7%
$252,571
Cap Rate 9%
$196,444
Alternative Uses
Best Use
Multifamily LT 5
$252.6K
$221.0K – $294.7K
NOI $17,680 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$232.1K
$203.1K – $270.8K
NOI $16,248 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$769.6K
$673.4K – $897.9K
NOI $53,874 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,654
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments provide a mix of one- and two-bedroom layouts.
Where is this triplex located?
The property is located at 1625 E 1st St Duluth, MN.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units; 1,984 square feet on a 0.17‑acre lot; Built in 1891
