1321 1st St Duluth, MN 55805-2453
Individually Owned
6-yr Hold
Estimated value (blended)
$3.76M
Range $3.38M – $4.14M (±10%)
Implied cap rate
9.00%
In-place · NOI ÷ last sale
Property ID
US46-0823662
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1922
Total area
41,271 SF
Lot
0.64 ac (28,000 SF)
Zoning code
R3
APN
010-1480-05210
UPID
US46-0823662
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.83M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$3.76M
Owner & transaction history
since 2020
Last sale
$3.3M
1 recorded transaction
Zoning & alternative use
R3 · Duluth, MN
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.76M
Value range
$3.38M – $4.14M
±10% around blend
Estimated value / SF
$91 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$3.38M
blend $3.76M
$4.14M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
41,271 SF
Lot area
0.64 ac
Year built
1922
Stories
3
APN
010-1480-05210
Assessed value
$3,431,600
Annual tax
$62,762
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$3.64M
Range $2.18M – $3.88M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.76M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 26 sales
$114
-20%
Submarket 77 sales
$102
-11%
County 112 sales
$86
+5%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $91/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
9.00%
Implied, in-place cap rate for this apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.00%
9.0%
NOI (est.)
$232k *
Last sale · Mar 2020
$3.32M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.58M
Move the market yield to see immediate price impact.
Value / SF
$63
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.50%9.00%9.50%
$209k
$2.46M
$2.32M
$2.20M
$232k
$2.73M
$2.58M
$2.45M
$256k
$3.01M
$2.84M
$2.69M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$62,762
Tax year 2023
Assessed value
$3,431,600
Assessed 2022
Previous assessed
$3,184,300
+7.8% YoY
Effective rate
1.83%
On assessed value
Assessed land
$48,000
Assessed improvement
$3,383,600
Land market value
$48,000
Improvement market value
$3,383,600
Total market value
$3,431,600
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1922
Heating
HOT WATER
Stories
3
Units
63
Total area
41,271 SF
Lot
0.64 ac (28,000 SF)
Zoning code
R3
APN
010-1480-05210
UPID
US46-0823662
Jurisdiction
ST LOUIS
Zoning & alternative use
R3 · Duluth, MNZoning R3 · permitted uses
R3 · Duluth, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1922
Heating
HOT WATER
Stories
3
Units
63
Lot
0.64 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R3
Jurisdiction
Duluth, MN
Recorded code
R3
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R3 in Duluth, MN.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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