Up-Down Duplex with
523 N 1st Ave E Duluth, MN 55805
For Sale
$229,000
MULTI_FAMILY - Duluth, MN
Property Size2,208 SF
Lot Size0.05 Acres
Price / SF$103.71
Days on Market47
Property Features for 523 N 1st Ave E
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bathroom 2, Bathroom 1, Basement, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 4
- Standard status
- Active
- APN
- 010-1030-01040
- Size
- 2,208 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3501
Utilities
- Heating system
- Natural Gas
Building Details
- Year built
- 1896
- Floors in Building
- 2
- Number of units
- 2
Listing Agency:
RE/MAX Results
(952) 829-2900
Listed By:
Andrew Frielund · License #93626
(952) 829-2900
Added: Jun 8
Changed: Jul 22
Last Checked: Jul 24 at 12:06AM
MLS# 6123548
Copyright © 2026 Lake Superior 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 up-and-down duplex offers two separate residential units within one building. The lower unit provides three bedrooms, while the upper unit features two bedrooms and a private balcony. Off-street parking is available on the side of the property.
Located in Duluth, the address is 523 N 1st Ave E, Duluth, MN 55805, within St. Louis County. The listing positions the property as centrally located, supporting convenient access to everyday needs.
The layout offers flexibility for an owner-occupant or an investor seeking a straightforward duplex configuration. With bedroom counts split between the two units and dedicated off-street parking, the property can support a variety of household needs while keeping day-to-day living and potential rental arrangements clearly separated between levels.
Located in Duluth, the address is 523 N 1st Ave E, Duluth, MN 55805, within St. Louis County. The listing positions the property as centrally located, supporting convenient access to everyday needs.
The layout offers flexibility for an owner-occupant or an investor seeking a straightforward duplex configuration. With bedroom counts split between the two units and dedicated off-street parking, the property can support a variety of household needs while keeping day-to-day living and potential rental arrangements clearly separated between levels.
Key Highlights
- Up/down duplex in the heart of Duluth, built in 1896
- Lower unit has 3 bedrooms
- Upper unit has 2 bedrooms and includes a private balcony
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.8k | $13.50 |
| − Vacancy | −$1.7k | −$0.77 |
| EGI | $28.1k | $12.73 |
| − OpEx | −$8.4k | −$3.82 |
| NOI | $19.7k | $8.91 |
2,208 SF · lease $13.50/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$281.1K
$246.0K – $327.9K
NOI $19,676 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$258.3K
$226.0K – $301.4K
NOI $18,082 @ 7.0% cap · market cap 7.90%
Theoretical Best
Specialty Retail
$856.5K
$749.5K – $999.3K
NOI $59,956 @ 7.0% cap · market cap 26.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Centrally located up-and-down duplex with separate units, including a 2-bedroom upper unit with private balcony.
Where is this duplex located?
The property is located at 523 N 1st Ave E Duluth, MN.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Up/down duplex in the heart of Duluth, built in 1896; Lower unit has 3 bedrooms; Upper unit has 2 bedrooms and includes a private balcony
