Up-and-Down Duplex with Original
For Sale
$199,000
418 N 27th Ave W, Duluth, MN 55806
Separate kitchens serve the two residences, and basement hookups accommodate shared laundry.
Property Size1,850 SF
Price / SF$107.57
Days on Market16
Property Features for 418 N 27th Ave W
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
deferred maintenance and cosmetic work
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,287
Building Details
Year Built
1906
Buildings
1
Listing Agency:
Thrive Realty - Duluth
(218) 276-5495
Listed By:
Darcie Rae Novak
(218) 276-4087
Source:
Exprealty
Added: Oct 1
Changed: Oct 13
Last Checked: Oct 14 at 11:55PM
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 Thrive Realty - Duluth
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Investment Insights
Based on property information with market context.
This 1906 duplex in Duluth has two units with a combined 5 bedrooms, 2 bathrooms, and approximately 1,850 finished square feet. Original trim and tall windows remain, while the property also includes a partial unfinished basement with washer and dryer hookups. Each unit has a range and refrigerator. Heating is forced-air natural gas, with city water and sewer and a vinyl exterior. Deferred maintenance and cosmetic work are noted.
The property is at 418 N 27th Ave W in Duluth’s Central Hillside area, with access to downtown and local amenities. The upper unit has an active rental license; the lower unit’s former license has lapsed. Buyers should confirm licensing requirements and reinstatement procedures with the City of Duluth.
The property is at 418 N 27th Ave W in Duluth’s Central Hillside area, with access to downtown and local amenities. The upper unit has an active rental license; the lower unit’s former license has lapsed. Buyers should confirm licensing requirements and reinstatement procedures with the City of Duluth.
Key Highlights
- Two units with 5 bedrooms and 2 bathrooms total
- Approximately 1,850 finished square feet; built in 1906
- Original trim, tall windows, and partial unfinished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,486
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,720
$329.7K
Cap Rate 7%
$235,514
$235.5K
Cap Rate 9%
$183,178
$183.2K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$25.0K $13.50/SF
− Vacancy
−$1.4K −$0.77/SF
EGI
$23.6K $12.73/SF
− OpEx
−$7.1K −$3.82/SF
NOI
$16.5K $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%
$329,720
Cap Rate 7%
$235,514
Cap Rate 9%
$183,178
Alternative Uses
Best Use
Multifamily LT 5
$235.5K
$206.1K – $274.8K
NOI $16,486 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$216.4K
$189.4K – $252.5K
NOI $15,150 @ 7.0% cap · market cap 7.61%
Theoretical Best
Specialty Retail
$717.6K
$627.9K – $837.3K
NOI $50,235 @ 7.0% cap · market cap 25.24%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 55806, MN
9,761
Population
4,848
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
2,871
Density / Sq Mi
$44,962
Median Household Income
$33,868
Median Earnings
$910
Median Rent
$156,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate kitchens serve the two residences, and basement hookups accommodate shared laundry.
Where is this duplex located?
The property is located at 418 N 27th Ave W 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 units with 5 bedrooms and 2 bathrooms total; Approximately 1,850 finished square feet; built in 1906; Original trim, tall windows, and partial unfinished basement
