Triplex with Coin-Operated
For Sale
$419,900
614 N 6th Ave E, Duluth, MN 55805
Three separate units provide individual kitchens and bathrooms, with off-street parking and shared laundry facilities.
Property Size3,537 SF
Price / SF$118.72
Days on Market8
Property Features for 614 N 6th Ave E
General Information
Standard status
Active
Size
3,537 SF
Total Parking Spaces
5
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,592
Amenities
coin-operated laundry
Listing Agency:
RE/MAX Results
(218) 722-2811
Listed By:
Tom Little · License #20167296
(218) 310-3334
Source:
Exprealty
Added: Aug 26
Changed: Aug 31
Last Checked: Sep 2 at 2:14AM
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
Investment Insights
Based on property information with market context.
This triplex contains 3 units with a combined 5 bedrooms, 3 bathrooms, and 3,537 square feet of finished space. Each residence has its own kitchen and bathroom, creating distinct living areas within the property. The layouts are described as functional and receive natural light. Off-street parking accommodates up to 5 vehicles, and coin-operated laundry is available on site.
The property is in Duluth near area hospitals, colleges, downtown, shopping, dining, and public transportation. Its three-unit configuration supports both multifamily ownership and an owner-occupant arrangement, as identified in the property information.
The property is in Duluth near area hospitals, colleges, downtown, shopping, dining, and public transportation. Its three-unit configuration supports both multifamily ownership and an owner-occupant arrangement, as identified in the property information.
Key Highlights
- 3‑unit triplex with 5 bedrooms and 3 bathrooms
- 3,537 square feet of finished space
- Separate kitchen and bathroom for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,519
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$630,380
$630.4K
Cap Rate 7%
$450,271
$450.3K
Cap Rate 9%
$350,211
$350.2K
Market Conditions
NOI Build-Up for 3,537 SF
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.
Gross rent
$47.7K $13.50/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$45.0K $12.73/SF
− OpEx
−$13.5K −$3.82/SF
NOI
$31.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$630,380
Cap Rate 7%
$450,271
Cap Rate 9%
$350,211
Alternative Uses
Best Use
Multifamily LT 5
$450.3K
$394.0K – $525.3K
NOI $31,519 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$413.8K
$362.1K – $482.8K
NOI $28,965 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,044 @ 7.0% cap · market cap 22.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate units provide individual kitchens and bathrooms, with off-street parking and shared laundry facilities.
Where is this triplex located?
The property is located at 614 N 6th Ave E Duluth, MN.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 3‑unit triplex with 5 bedrooms and 3 bathrooms; 3,537 square feet of finished space; Separate kitchen and bathroom for each unit
