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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Apartment buildings
102 Gary St, Duluth, MN 55808-1737
Individually Owned
22-yr Hold
Free & Clear
Property ID
US46-0021093
Property summary
AI-generated overview
This exceptional investment opportunity presents a 34-unit boarding house in Duluth, Minnesota. Located at 102 W Gary St, 55808, this licensed property boasts 8,100 square feet of space and is offered at $1,250,000. The asking price translates to $154.32 per square foot, reflecting a strong return on investment potential. The property's substantial income stream provides a unique opportunity for immediate cash flow. This established business is turnkey, allowing a new owner to seamlessly take over operations and benefit from the existing tenant base. The property's location in Duluth, within St. Louis County, offers convenient access to local amenities and transportation. The building itself is a well-maintained structure, ready for continued operation as a successful boarding house. This is a rare chance to acquire a profitable, established business with significant real estate holdings, offering both immediate income and long-term growth potential. The property is classified as Special Purpose and is categorized as a boarding house. Financial details are available upon request. Serious inquiries only.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1916
Total area
8,100 SF
Lot
0.19 ac (8,383 SF)
Zoning code
R2
APN
010-1800-09450
UPID
US46-0021093
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
$1.02M
Comparable Approach
Comparable
$939k
Blend (final)
Blend
$755k
Owner & transaction history
Barbara E Dakovic · 22 yrs held
Barbara E Dakovic
since 2004
1 recorded transaction
Zoning & alternative use
R2 · Duluth, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+40.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Duluth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Duluth submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
$1,105,000
6.5%
$1,020,000
7%
$950,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$825,000
Current use
COMMERCIAL (GENERAL)
$1,165,000
Change: +41% · Conversion: Moderate
Blend value · Realmo final
$755k
Range $680k – $831k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$93 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,180
Tax year 2023
Assessed value
$666,000
Assessed 2022
Previous assessed
$472,900
+40.8% YoY
Effective rate
1.83%
On assessed value
Assessed land
$4,500
Assessed improvement
$661,500
Land market value
$4,500
Improvement market value
$661,500
Total market value
$666,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1916
Heating
HOT WATER
Buildings
2
Stories
3
Units
34
Total area
8,100 SF
Lot
0.19 ac (8,383 SF)
Zoning code
R2
APN
010-1800-09450
UPID
US46-0021093
Jurisdiction
ST LOUIS
Zoning & alternative use
R2 · Duluth, MN
Zoning R2 · permitted uses
R2 · Duluth, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Duluth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$825,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1916
Heating
HOT WATER
Stories
3
Buildings
2
Units
34
Lot
0.19 ac
Current owner
From public records · entity-resolved
Barbara E Dakovic
Individual
Free & Clear · 22 yrs held
Mailing address
2431 PEACE DR, DULUTH, MN 55811-2970
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2004
$100,000
Barbara E Dakovic
Miketin,bronhilda
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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