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    Property profile & analytics

    117 3rd St Duluth, MN 55805-1753

    • Apartment buildings
    • 2,288 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    $290,000
    Location Intelligence
    Property ID
    US46-0145557
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 117 3rd St

    Year built
    1891
    Lot size
    0.08 lot acres
    Property size
    2,288 SF
    Zone code
    R4
    Property type
    Apartment buildings
    APN
    010-0970-00165
    APU
    10097000165

    Description

    This meticulously maintained 10-unit apartment building presents a rare opportunity in the heart of Duluth, Minnesota. Located at 117 W 3rd St, this three-story property boasts a total of 4,887 square feet and is situated on APN 010-0980-00130. Built in 1896, the building comprises a mix of unit types: three one-bedroom apartments and seven efficiency apartments. The asking price is $399,000, translating to $39,900 per unit and $81.65 per square foot. The property's excellent condition is a testament to its careful upkeep. While the current owner is retiring and hasn't been maintaining full occupancy, this presents a significant upside potential for a new owner. The 2023 property taxes amounted to $5,972.00. This is an exceptional investment opportunity in a desirable downtown location. The building's strong foundation and well-maintained structure offer a solid return on investment. The diverse unit mix caters to a broad range of renters, further enhancing its appeal. This property is ready for a new owner to maximize its rental income potential. Don't miss this chance to acquire a prime piece of Duluth real estate.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $250,000

    • CAP approach

      CAP return
      Estimation
      6%
      $350,000
      6.5%
      $340,000
      7%
      $380,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $335,000
      Geo Method
      $345,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $325,000
      Retail
      $370,000
      Mixed-Use
      $425,000
      Hospitality
      $435,000
      Educational
      $400,000
      Residential Income
      $410,000
      Energy
      $320,000
      Income-Based Land
      $415,000
      Food Service
      $330,000

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.0999
    Latitude
    46.7906
    CBSA code
    20260
    CBSA name
    DULUTH, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,340
    $44,400
    $192,900
    $237,300
    -
    $44,400
    $192,900
    $237,300

    Comparable in this City

    • Value Estimation by Request
      26,652 SF

      829 1st St

      APARTMENT HOUSE (5+ UNITS) • 26,652 SF
      829 1st St, Duluth, MN 55805-3877
      View Details
    • Value Estimation
      $280,000
      8,958 SF

      1422 3rd St

      APARTMENT HOUSE (5+ UNITS) • 8,958 SF
      1422 3rd St, Duluth, MN 55805-3935
      View Details
    • Value Estimation by Request
      18,422 SF

      316 2nd St

      APARTMENT HOUSE (5+ UNITS) • 18,422 SF
      316 2nd St, Duluth, MN 55805-1845
      View Details
    • Value Estimation
      $205,000
      2,745 SF

      1317 2nd St

      APARTMENT HOUSE (5+ UNITS) • 2,745 SF
      1317 2nd St, Duluth, MN 55805-2305
      View Details
    • Value Estimation
      $310,000
      4,424 SF

      713 2nd St

      APARTMENT HOUSE (5+ UNITS) • 4,424 SF
      713 2nd St, Duluth, MN 55805-3249
      View Details
    • Value Estimation by Request
      13,032 SF

      632 3rd St

      APARTMENT HOUSE (5+ UNITS) • 13,032 SF
      632 3rd St, Duluth, MN 55805-2067
      View Details

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    Duluth, MN 55805-1753
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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