Duplex with Harbor
725 W 2nd St, Duluth, MN 55805
For Sale
$225,000
Two apartments offer separate one- and two-bedroom layouts, with a loft in the upper residence.
Property Size1,940 SF
Price / SF$115.98
Days on Market49
Property Features for 725 W 2nd St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Listing Agency:
Coldwell Banker Realty - Duluth
(218) 728-5161
Listed By:
Kelly Kellar
(218) 428-9313
Source:
Exprealty
Added: Sep 25
Changed: Nov 7
Last Checked: Nov 10 at 9:10AM
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 Coldwell Banker Realty - Duluth
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 725 W 2nd St in Duluth, this up-and-down duplex has two apartments: a main-floor unit with one bedroom and one bathroom, and an upper unit with two bedrooms, one bathroom, and a loft. Harbor views are a feature of the property.
Recent improvements include a new roof and boiler.
Recent improvements include a new roof and boiler.
Key Highlights
- Harbor views
- Main‑floor apartment with 1 bedroom and 1 bathroom
- Upper apartment with 2 bedrooms, 1 bathroom, and a loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,288
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$345,760
$345.8K
Cap Rate 7%
$246,971
$247.0K
Cap Rate 9%
$192,089
$192.1K
Market Conditions
NOI Build-Up for 1,940 SF
Gross rent
$26.2K $13.50/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$24.7K $12.73/SF
− OpEx
−$7.4K −$3.82/SF
NOI
$17.3K $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%
$345,760
Cap Rate 7%
$246,971
Cap Rate 9%
$192,089
Alternative Uses
Best Use
Multifamily LT 5
$247.0K
$216.1K – $288.1K
NOI $17,288 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$227.0K
$198.6K – $264.8K
NOI $15,887 @ 7.0% cap · market cap 7.06%
Theoretical Best
Specialty Retail
$752.6K
$658.5K – $878.0K
NOI $52,679 @ 7.0% cap · market cap 23.41%
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
Location Intelligence
Trade Area within ½ mile
176
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
$171,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in St. Louis County, MN
Properties on Market for Duplexes in St. Louis County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer separate one- and two-bedroom layouts, with a loft in the upper residence.
Where is this duplex located?
The property is located at 725 W 2nd St Duluth, MN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Harbor views; Main‑floor apartment with 1 bedroom and 1 bathroom; Upper apartment with 2 bedrooms, 1 bathroom, and a loft
