Remodeled Duplex With Lake
For Sale
$309,000
25 E 7th St, Duluth, MN 55805
Shared garage and basement laundry serve both units, with one off-street parking space.
Property Size1,760 SF
Price / SF$175.57
Days on Market26
Property Features for 25 E 7th St
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
privacy fence
greenhouse
shed
basement laundry
lake views
Building Details
Year Built
1906
Listing Agency:
RE/MAX Results
(218) 393-0289
Listed By:
Michelle Ryan
Source:
Homesminn
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 30 at 8:48PM
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
Investment Insights
Based on property information with market context.
This duplex, built in 1906, features updated interiors and a broad package of improvements, including hardwood floors, refreshed electrical service, newer roofing, updated bathrooms, and replacement windows. The chimney has been lined, and the water line has been replaced. Both units share basement laundry and a two-car garage. Additional site features include a privacy fence, greenhouse, and shed.
The upstairs residence has lake views. Parking includes one off-street space along with street parking at the front of the property. The address is 25 E 7th St in Duluth, Minnesota.
The upstairs residence has lake views. Parking includes one off-street space along with street parking at the front of the property. The address is 25 E 7th St in Duluth, Minnesota.
Key Highlights
- Duplex with 1,760 PropertySize
- Built in 1906
- Updated electric, bathrooms, windows, roof, chimney lining, and water line
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
$15,684
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
5.08%
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%
$313,680
$313.7K
Cap Rate 7%
$224,057
$224.1K
Cap Rate 9%
$174,267
$174.3K
Market Conditions
NOI Build-Up for 1,760 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
$23.8K $13.50/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$22.4K $12.73/SF
− OpEx
−$6.7K −$3.82/SF
NOI
$15.7K $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 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%
$313,680
Cap Rate 7%
$224,057
Cap Rate 9%
$174,267
Alternative Uses
Best Use
Multifamily LT 5
$224.1K
$196.1K – $261.4K
NOI $15,684 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$205.9K
$180.2K – $240.2K
NOI $14,413 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$682.7K
$597.4K – $796.5K
NOI $47,791 @ 7.0% cap · market cap 15.47%
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
2,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Shared garage and basement laundry serve both units, with one off-street parking space.
Where is this duplex located?
The property is located at 25 E 7th St Duluth, MN.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Duplex with 1,760 PropertySize; Built in 1906; Updated electric, bathrooms, windows, roof, chimney lining, and water line
