Two-Unit Duplex with Matching
2417 Vermilion Rd, Duluth, MN 55803
For Sale
$500,000
Each residence includes five bedrooms, two full bathrooms, and an open-concept living and kitchen area.
Property Size2,912 SF
Price / SF$171.70
Days on Market60
Property Features for 2417 Vermilion Rd
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX Results
Listed By:
Tracy L. Ramsay · License #40762684
(218) 390-6747
Source:
Searchhousesnow
Added: Sep 9
Changed: Oct 26
Last Checked: Nov 6 at 12:54PM
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
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Investment Insights
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Built in 2003, this duplex contains two residences with matching layouts and design. Each unit offers 5 bedrooms, 2 full bathrooms, and an open-concept arrangement connecting the living area with the kitchen. The mirrored configuration creates consistency between units and provides a straightforward physical setup across the property.
The duplex is located at 2417 Vermilion Rd in Duluth, Minnesota. The property size is 2,912, as reported in the listing information.
The duplex is located at 2417 Vermilion Rd in Duluth, Minnesota. The property size is 2,912, as reported in the listing information.
Key Highlights
- Two‑unit duplex with matching floor plans and design
- Each unit includes 5 bedrooms and 2 full bathrooms
- Open‑concept living and kitchen areas in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,950
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$519,000
$519.0K
Cap Rate 7%
$370,714
$370.7K
Cap Rate 9%
$288,333
$288.3K
Market Conditions
NOI Build-Up for 2,912 SF
Gross rent
$39.3K $13.50/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$37.1K $12.73/SF
− OpEx
−$11.1K −$3.82/SF
NOI
$25.9K $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%
$519,000
Cap Rate 7%
$370,714
Cap Rate 9%
$288,333
Alternative Uses
Best Use
Multifamily LT 5
$370.7K
$324.4K – $432.5K
NOI $25,950 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$340.7K
$298.1K – $397.5K
NOI $23,847 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.13M
$988.4K – $1.32M
NOI $79,073 @ 7.0% cap · market cap 15.81%
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
109
Businesses Nearby
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Business Placement
Demographics for 55803, MN
17,796
Population
8,690
Households
2
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
295.5 sq mi
ZIP Area
60
Density / Sq Mi
$104,250
Median Household Income
$58,758
Median Earnings
$1,391
Median Rent
$300,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in St. Louis County, MN
Properties on Market for Duplexes in St. Louis County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes five bedrooms, two full bathrooms, and an open-concept living and kitchen area.
Where is this duplex located?
The property is located at 2417 Vermilion Rd Duluth, MN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑unit duplex with matching floor plans and design; Each unit includes 5 bedrooms and 2 full bathrooms; Open‑concept living and kitchen areas in both residences
