Two-Unit
New
For Sale
$325,000
5405-07 Central Pl, Duluth, MN 55807
MULTI-FAMILY, Duluth, MN
Property Size1,700 SF
Lot Size0.15 Acres
Price / SF$191.18
Days on Market2
Property Features for 5405-07 Central Pl
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Basement
Basement
Block
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
West Duluth, Grand to a Right on Elinor St. to a left on Central Place
Subdivision
LSAR
Standard status
Active
APN
010-4520-15440
Size
1,700 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3149
Utilities
Heating system
Forced Air
Amenities
on-site laundry
handicap accessible
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Mollie Maruca · License #8912194
(218) 393-1326
Added: Oct 9
Last Checked: Oct 10 at 9:06AM
MLS# 6128336
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 1,700-square-foot duplex in Duluth has four bedrooms and two bathrooms arranged across upper and lower units. The lower unit is owner-occupied, while the upper unit is rented. Each unit has separate utilities. A full unfinished basement provides laundry space, and the property is handicap accessible.
Built in 1900, the 0.15-acre property received two new furnaces and a water heater in 2020. In 2025, 19 double-hung Parco windows were installed, along with cosmetic updates to the units.
Built in 1900, the 0.15-acre property received two new furnaces and a water heater in 2020. In 2025, 19 double-hung Parco windows were installed, along with cosmetic updates to the units.
Key Highlights
- Two‑unit, upper‑and‑lower layout with four bedrooms and two bathrooms
- 1,700 square feet on a 0.15‑acre lot
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,149
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,980
$303.0K
Cap Rate 7%
$216,414
$216.4K
Cap Rate 9%
$168,322
$168.3K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$23.0K $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 Rate 5%
$302,980
Cap Rate 7%
$216,414
Cap Rate 9%
$168,322
Alternative Uses
Best Use
Multifamily LT 5
$216.4K
$189.4K – $252.5K
NOI $15,149 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$198.9K
$174.0K – $232.0K
NOI $13,922 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$659.5K
$577.0K – $769.4K
NOI $46,162 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utility services and an upper-and-lower layout support independent household occupancy.
Where is this duplex located?
The property is located at 5405-07 Central Pl Duluth, MN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit, upper‑and‑lower layout with four bedrooms and two bathrooms; 1,700 square feet on a 0.15‑acre lot; Separate utilities for each unit
