2-Unit Duplex with Detached
For Sale
$164,900
613 N 59th Ave W, Duluth, MN 55807
An up-and-down rental layout pairs separate kitchens with living areas and original wood trim.
Property Size1,374 SF
Price / SF$120.01
Days on Market29
Property Features for 613 N 59th Ave W
General Information
Standard status
Active
Size
1,374 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
100%
Financials
Gross Income
$26,400
Average Monthly Rent
$1,100
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,636
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Results
(218) 722-2811
Listed By:
Jordan DeCaro · License #40286367|WI79981-94
(218) 428-0861
Source:
Exprealty
Added: Oct 1
Changed: Oct 25
Last Checked: Oct 28 at 10:17AM
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 RE/MAX Results
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Investment Insights
Based on property information with market context.
This tenant-occupied, two-unit duplex has an up-and-down configuration, with each apartment offering one bedroom, one bathroom, a kitchen, and a living area. Each unit contains 692 square feet and features original wood trim. The building also has a full basement, natural gas forced-air heat, a detached one-car garage, and two off-street parking spaces.
Both apartments are leased through 9/27/2027. Tenants pay for electricity and trash service; the owner covers heat, water, and sewer.
Both apartments are leased through 9/27/2027. Tenants pay for electricity and trash service; the owner covers heat, water, and sewer.
Key Highlights
- Two one‑bedroom, one‑bath units, each with 692 square feet
- Both leases run through 9/27/2027
- Detached one‑car garage and two off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,244
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,880
$244.9K
Cap Rate 7%
$174,914
$174.9K
Cap Rate 9%
$136,044
$136.0K
Market Conditions
NOI Build-Up for 1,374 SF
Gross rent
$18.5K $13.50/SF
− Vacancy
−$1.1K −$0.77/SF
EGI
$17.5K $12.73/SF
− OpEx
−$5.2K −$3.82/SF
NOI
$12.2K $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%
$244,880
Cap Rate 7%
$174,914
Cap Rate 9%
$136,044
Alternative Uses
Best Use
Multifamily LT 5
$174.9K
$153.1K – $204.1K
NOI $12,244 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$160.7K
$140.7K – $187.5K
NOI $11,252 @ 7.0% cap · market cap 6.82%
Theoretical Best
Specialty Retail
$533.0K
$466.4K – $621.8K
NOI $37,310 @ 7.0% cap · market cap 22.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
488
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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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 - An up-and-down rental layout pairs separate kitchens with living areas and original wood trim.
Where is this duplex located?
The property is located at 613 N 59th Ave W Duluth, MN.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units, each with 692 square feet; Both leases run through 9/27/2027; Detached one‑car garage and two off‑street parking spaces
