Duplex Income
2417 Vermilion Rd Duluth, MN 55803
For Sale
$500,000
MULTI_FAMILY - Duluth, MN
Property Size2,912 SF
Lot Size0.36 Acres
Price / SF$171.70
Days on Market47
Property Features for 2417 Vermilion Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bedroom 7, Bathroom 1, Bedroom 10, Bedroom 3, Bathroom 3, Basement, Bedroom 9, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 4, Bedroom 8
- Parking features
- Off Street
- Basement
- Block
- Standard status
- Active
- APN
- 010-3870-00160
- Size
- 2,912 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7370
Utilities
- Heating system
- Electric (Heating)
Building Details
- Year built
- 2003
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
Listing Agency:
RE/MAX Results
(952) 829-2900
Listed By:
Tracy Ramsay · License #40762684
(952) 829-2900
Added: Jun 8
Changed: Jul 22
Last Checked: Jul 24 at 12:06AM
MLS# 6124160
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 at 2417 Vermilion Rd, Duluth, MN 55803 offers two identical residential units designed for straightforward management. Each unit features 5 bedrooms and 2 full bathrooms, with an open-concept living area flowing into the kitchen for everyday use and gathering. A shared laundry is located in the basement, and the property includes tuck-under garage space that can support owner or landlord storage needs. The home is heated with electric heat and includes an air exchanger, supporting year-round comfort.
Set on a 0.36-acre lot with 2,912 square feet of total building area, the property is supported by plenty of off-street parking. The listing also notes that the duplex is paired with a neighboring single-family rental at 2425 Vermilion Rd.
For tenants or owners seeking consistent unit design, the mirrored layouts can simplify operations and leasing. For investors, the property is presented as an income-producing duplex in excellent condition, with dedicated unit space, shared basement laundry, and parking available on-site. Please note the listing requirement: this property must be purchased together with 2425 Vermilion Rd.
Set on a 0.36-acre lot with 2,912 square feet of total building area, the property is supported by plenty of off-street parking. The listing also notes that the duplex is paired with a neighboring single-family rental at 2425 Vermilion Rd.
For tenants or owners seeking consistent unit design, the mirrored layouts can simplify operations and leasing. For investors, the property is presented as an income-producing duplex in excellent condition, with dedicated unit space, shared basement laundry, and parking available on-site. Please note the listing requirement: this property must be purchased together with 2425 Vermilion Rd.
Key Highlights
- 2003‑built duplex with identical units, each offering 5 bedrooms and 2 full bathrooms
- Shared laundry located in the basement
- Electric heating plus an air exchanger for year‑round comfort
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.3k | $13.50 |
| − Vacancy | −$2.2k | −$0.77 |
| EGI | $37.1k | $12.73 |
| − OpEx | −$11.1k | −$3.82 |
| NOI | $25.9k | $8.91 |
2,912 SF · lease $13.50/SF/yr · vacancy 5.70% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained duplex with identical 5-bedroom units, basement laundry, and tuck-under garages plus off-street parking.
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: 2003‑built duplex with identical units, each offering 5 bedrooms and 2 full bathrooms; Shared laundry located in the basement; Electric heating plus an air exchanger for year‑round comfort
