Up-and-Down
For Sale
$199,000
Pending
2714 W 2nd St, Duluth, MN 55812
Fully occupied rental property with two off-street spaces and basement laundry hookups.
Property Size1,696 SF
Days on Market18
Property Features for 2714 W 2nd St
General Information
Standard status
Pending
Size
1,696 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$21,180
Taxes and HOA fees
Annual Taxes
$2,682
Amenities
laundry hook ups
Listing Agency:
Coldwell Banker Realty - Duluth
(218) 269-6031
Listed By:
Alysa Bjorklund Wishart
(218) 269-6031
Source:
Exprealty
Added: Aug 6
Changed: Aug 22
Last Checked: Aug 23 at 5:53AM
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 Coldwell Banker Realty - Duluth
Investment Insights
Based on property information with market context.
Located at 2714 W 2nd St in Duluth, this up-and-down duplex provides two separate residential units within one income-producing property. Each unit includes two bedrooms and one bathroom, creating a consistent layout across both levels. The building is fully occupied, and each residence has access to off-street parking reached from the rear alley.
Basement laundry hookups add practical utility for residents and support the property’s rental configuration. The current setup offers an established two-unit arrangement with separately occupied living spaces and a straightforward physical layout for continued operation.
Basement laundry hookups add practical utility for residents and support the property’s rental configuration. The current setup offers an established two-unit arrangement with separately occupied living spaces and a straightforward physical layout for continued operation.
Key Highlights
- Two‑unit up‑and‑down duplex at 2714 W 2nd St, Duluth, MN
- Each unit includes 2 bedrooms and 1 bathroom
- Both units are currently occupied
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
$15,114
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
7.59%
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%
$302,280
$302.3K
Cap Rate 7%
$215,914
$215.9K
Cap Rate 9%
$167,933
$167.9K
Market Conditions
NOI Build-Up for 1,696 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
$22.9K $13.50/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$21.6K $12.73/SF
− OpEx
−$6.5K −$3.82/SF
NOI
$15.1K $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%
$302,280
Cap Rate 7%
$215,914
Cap Rate 9%
$167,933
Alternative Uses
Best Use
Multifamily LT 5
$215.9K
$188.9K – $251.9K
NOI $15,114 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$198.4K
$173.6K – $231.5K
NOI $13,889 @ 7.0% cap · market cap 6.98%
Theoretical Best
Specialty Retail
$657.9K
$575.7K – $767.6K
NOI $46,053 @ 7.0% cap · market cap 23.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 55812, MN
10,571
Population
3,954
Households
2.7
Avg Household Size
27
Median Age
60%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
5,564
Density / Sq Mi
$66,961
Median Household Income
$16,485
Median Earnings
$1,216
Median Rent
$301,600
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 - Fully occupied rental property with two off-street spaces and basement laundry hookups.
Where is this duplex located?
The property is located at 2714 W 2nd St Duluth, MN.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit up‑and‑down duplex at 2714 W 2nd St, Duluth, MN; Each unit includes 2 bedrooms and 1 bathroom; Both units are currently occupied
