Duplex with Lake Superior
For Sale
$249,500
2128 W 6th St, Duluth, MN 55806
MULTI-FAMILY, Duluth, MN
Property Size1,632 SF
Lot Size0.10 Acres
Price / SF$152.88
Days on Market10
Property Features for 2128 W 6th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Patio and Porch features
Deck
Exterior features
Balcony, Deck, Fenced Yard - Partial
Fencing
Fenced
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
Up Highway 53 to 6th St, West to house on left
Subdivision
LSAR
Standard status
Active
APN
010-1220-00690
Size
1,632 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2576
Utilities
Heating system
Oil, Natural Gas
Building Details
Year built
1909
Number of units
2
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Kristopher Kapsner
(952) 829-2900
Added: Aug 12
Changed: Aug 19
Last Checked: Aug 21 at 10:06AM
MLS# 6127316
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.
This duplex contains 1,632 square feet with two residential units, each offering 2 bedrooms and 1 bathroom. The upper and lower residences feature open living areas and large decks oriented toward Lake Superior. A newer boiler serves the property, and heating is listed as oil and natural gas. The building dates to 1909.
Outdoor features include a partially fenced backyard, a front yard, and off-street parking. The property occupies 0.1 acres at 2128 W 6th St in Duluth, Minnesota, within the upper Lincoln Park hillside area. Both units are described as ready for occupancy, providing a straightforward two-unit configuration with separate interior living spaces and private exterior areas.
Outdoor features include a partially fenced backyard, a front yard, and off-street parking. The property occupies 0.1 acres at 2128 W 6th St in Duluth, Minnesota, within the upper Lincoln Park hillside area. Both units are described as ready for occupancy, providing a straightforward two-unit configuration with separate interior living spaces and private exterior areas.
Key Highlights
- Two‑unit duplex with 1,632 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Large decks facing Lake Superior
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
$14,543
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
5.83%
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%
$290,860
$290.9K
Cap Rate 7%
$207,757
$207.8K
Cap Rate 9%
$161,589
$161.6K
Market Conditions
NOI Build-Up for 1,632 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
$22.0K $13.50/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$20.8K $12.73/SF
− OpEx
−$6.2K −$3.82/SF
NOI
$14.5K $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%
$290,860
Cap Rate 7%
$207,757
Cap Rate 9%
$161,589
Alternative Uses
Best Use
Multifamily LT 5
$207.8K
$181.8K – $242.4K
NOI $14,543 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$190.9K
$167.1K – $222.8K
NOI $13,365 @ 7.0% cap · market cap 5.36%
Theoretical Best
Specialty Retail
$633.1K
$553.9K – $738.6K
NOI $44,315 @ 7.0% cap · market cap 17.76%
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
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 55806, MN
9,761
Population
4,848
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
2,871
Density / Sq Mi
$44,962
Median Household Income
$33,868
Median Earnings
$910
Median Rent
$156,500
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?
Duplex - Two-unit property offers open living areas, private outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 2128 W 6th St Duluth, MN.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,632 square feet; Each unit includes 2 bedrooms and 1 bathroom; Large decks facing Lake Superior
