Duplex with Harbor
For Sale
$344,900
2413 W 7th St, Duluth, MN 55806
Updated two-unit property on a double lot with a detached garage and access to nearby multi-use and Superior Hiking Trails.
Property Size1,654 SF
Price / SF$208.52
Days on Market48
Property Features for 2413 W 7th St
General Information
Standard status
Active
Size
1,654 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Financials
Gross Income
$39,900
Average Monthly Rent
$1,662
Additional Details
Multifamily Units
2
Building Details
Year Built
1908
Buildings
1
Listing Agency:
Kuschel Realty Group LLC
Listed By:
Brittany Kuschel
(218) 260-7744
Source:
Biglifeteam
Added: Sep 5
Changed: Oct 17
Last Checked: Oct 7 at 5:04PM
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 Kuschel Realty Group LLC
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Investment Insights
Based on property information with market context.
Built in 1908, this 1,654-square-foot duplex offers two residential units on a double lot with a 1-stall garage. The property has received substantial updates, including refinished hardwood flooring, interior painting, replacement of the majority of windows, new water heaters installed in 2020, and improvements to the lower-level kitchen and storm doors.
The upper unit was fully renovated in 2023 with a new kitchen, updated bathroom, new kitchen flooring, and new appliances. The second floor also provides a partial harbor and Lake Superior view. The property is within walking distance of local multi-use and Superior Hiking Trails and is fully licensed through 2029. Its two-unit layout supports either owner occupancy or use as a rental property.
The upper unit was fully renovated in 2023 with a new kitchen, updated bathroom, new kitchen flooring, and new appliances. The second floor also provides a partial harbor and Lake Superior view. The property is within walking distance of local multi-use and Superior Hiking Trails and is fully licensed through 2029. Its two-unit layout supports either owner occupancy or use as a rental property.
Key Highlights
- 1,654 SF duplex built in 1908
- Double lot with 1‑stall garage
- Upper unit fully renovated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,739
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,780
$294.8K
Cap Rate 7%
$210,557
$210.6K
Cap Rate 9%
$163,767
$163.8K
Market Conditions
NOI Build-Up for 1,654 SF
Gross rent
$22.3K $13.50/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$21.1K $12.73/SF
− OpEx
−$6.3K −$3.82/SF
NOI
$14.7K $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%
$294,780
Cap Rate 7%
$210,557
Cap Rate 9%
$163,767
Alternative Uses
Best Use
Multifamily LT 5
$210.6K
$184.2K – $245.7K
NOI $14,739 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$193.5K
$169.3K – $225.8K
NOI $13,545 @ 7.0% cap · market cap 3.93%
Theoretical Best
Specialty Retail
$641.6K
$561.4K – $748.6K
NOI $44,913 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property on a double lot with a detached garage and access to nearby multi-use and Superior Hiking Trails.
Where is this duplex located?
The property is located at 2413 W 7th St Duluth, MN.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: 1,654 SF duplex built in 1908; Double lot with 1‑stall garage; Upper unit fully renovated in 2023
