Updated Duplex with
For Sale
$219,900
409 N 51st Ave W, Duluth, MN 55807
Up-and-down duplex with updated systems, back decks, and additional yard space from a recently acquired parcel.
Property Size1,822 SF
Price / SF$120.69
Days on Market51
Property Features for 409 N 51st Ave W
General Information
Standard status
Active
Size
1,822 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
back deck
yard space
Building Details
Year Built
1909
Year Renovated
2017
Buildings
1
Listing Agency:
Adolphson Real Estate
Listed By:
Rachel Betts Larson
(218) 591-9652
Source:
Js-realty
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 1:58PM
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 Adolphson Real Estate
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Investment Insights
Based on property information with market context.
This 1,822-square-foot duplex has an up-and-down configuration with two bedrooms and one bathroom in each unit. The property includes back decks, a two-car garage, and expanded yard space from a recently acquired additional parcel. Major improvements completed in 2017 included the roof, windows, doors, furnaces, electrical system, and plumbing. Hot water heaters were replaced in 2019 and 2021.
A current rental license remains in place through 1/1/29. The property is located at 409 N 51st Ave W in Duluth, near shopping, restaurants, and everyday amenities. Built in 1909, the duplex offers a two-unit layout with updated core systems and outdoor features.
A current rental license remains in place through 1/1/29. The property is located at 409 N 51st Ave W in Duluth, near shopping, restaurants, and everyday amenities. Built in 1909, the duplex offers a two-unit layout with updated core systems and outdoor features.
Key Highlights
- 1,822‑square‑foot duplex with two bedrooms and one bathroom in each unit
- Major 2017 updates included roof, windows, doors, furnaces, electrical, and plumbing
- Hot water heaters replaced in 2019 and 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,236
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,720
$324.7K
Cap Rate 7%
$231,943
$231.9K
Cap Rate 9%
$180,400
$180.4K
Market Conditions
NOI Build-Up for 1,822 SF
Gross rent
$24.6K $13.50/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$23.2K $12.73/SF
− OpEx
−$7.0K −$3.82/SF
NOI
$16.2K $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%
$324,720
Cap Rate 7%
$231,943
Cap Rate 9%
$180,400
Alternative Uses
Best Use
Multifamily LT 5
$231.9K
$203.0K – $270.6K
NOI $16,236 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$213.2K
$186.5K – $248.7K
NOI $14,921 @ 7.0% cap · market cap 6.79%
Theoretical Best
Specialty Retail
$706.8K
$618.4K – $824.6K
NOI $49,475 @ 7.0% cap · market cap 22.50%
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
629
Businesses Nearby
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Business Placement
Demographics for 55807, MN
9,674
Population
4,572
Households
2.1
Avg Household Size
39
Median Age
29%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
1,668
Density / Sq Mi
$63,670
Median Household Income
$36,246
Median Earnings
$797
Median Rent
$164,000
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 - Up-and-down duplex with updated systems, back decks, and additional yard space from a recently acquired parcel.
Where is this duplex located?
The property is located at 409 N 51st Ave W Duluth, MN.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,822‑square‑foot duplex with two bedrooms and one bathroom in each unit; Major 2017 updates included roof, windows, doors, furnaces, electrical, and plumbing; Hot water heaters replaced in 2019 and 2021
