Building Details

Year built 1906

Number of units 1

Building materials Wood Frame

Roof type Shingle

Listing Agency: Thrive Realty LLC Show Phone

Listed By: Darcie Novak · License #20549397 Show Phone

Added: Oct 1 Last Checked: Oct 5 at 6:06PM

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MLS# 150779

Copyright © 2026 Range 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 two-unit duplex has an upper-and-lower layout with a total of five bedrooms and two bathrooms. The property contains approximately 1,850 finished square feet and was built in 1906. Original trim and tall windows are among its interior features. Each unit has a range and refrigerator; the partial unfinished basement has washer and dryer hookups. Heating is forced-air natural gas, and the property is served by city water and sewer.

Located at 418 N 27th Ave W in Duluth’s Central Hillside area, the property is zoned RES. The exterior is vinyl, and the roof is shingle.

Key Highlights

• Two separate units in an upper‑and‑lower arrangement
• Approximately 1,850 finished square feet, with 5 bedrooms and 2 bathrooms
• Built in 1906; original trim details and tall windows

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 (±1% cap)

NOI $16,486 @ 7.0% cap · market cap 8.28%

Second Best

Apartment 5plus

$216.4K

$189.4K – $252.5K (±1% cap)

NOI $15,150 @ 7.0% cap · market cap 7.61%

Theoretical Best

Specialty Retail

$717.6K

$627.9K – $837.3K (±1% cap)

NOI $50,235 @ 7.0% cap · market cap 25.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Law Firm Nail Salon Pharmacy Locksmith Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Upper and lower residences provide five bedrooms and two bathrooms across the property.

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 separate units in an upper‑and‑lower arrangement; Approximately 1,850 finished square feet, with 5 bedrooms and 2 bathrooms; Built in 1906; original trim details and tall windows