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Property profile & analytics
OFF-MARKET
Residential income homes
2820 3rd St, Duluth, MN 55806-1765
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0019569
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1904
Total area
2,907 SF
Lot
0.16 ac (7,000 SF)
Zoning code
C2
APN
010-1820-00390
UPID
US46-0019569
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael W Piper · 2 yrs held
Michael W Piper
since 2023
Last sale
$115,000
7 recorded transactions
Zoning & alternative use
C2 · Duluth, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,168
Tax year 2023
Assessed value
$173,200
Assessed 2022
Previous assessed
$173,200
+0.0% YoY
Effective rate
1.83%
On assessed value
Assessed land
$7,900
Assessed improvement
$165,300
Land market value
$7,900
Improvement market value
$165,300
Total market value
$173,200
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1904
Heating
HOT WATER
Stories
3
Units
4
Total area
2,907 SF
Lot
0.16 ac (7,000 SF)
Zoning code
C2
APN
010-1820-00390
UPID
US46-0019569
Jurisdiction
ST LOUIS
Zoning & alternative use
C2 · Duluth, MN
Zoning C2 · permitted uses
C2 · 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.
Building & site characteristics
From public records
Year built
1904
Heating
HOT WATER
Stories
3
Units
4
Lot
0.16 ac
Current owner
From public records · entity-resolved
Michael W Piper
Individual
Mailing address
1817 CHINOOK DR, DULUTH, MN 55811-2138
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2023
$115,000
Michael W Piper
Anthony W Goodman
Warranty Deed
—
Mar 23, 2021
$115,000
Michael W Piper
Anthony W Goodman
Land Contract
$115,000 · Not Available
Dec 20, 2018
—
Anthony W Goodman
Goodman,walter C
Affidavit Of Death
related
—
Oct 3, 2014
—
Walter C Goodman
Goodman,walter C
Quit Claim Deed
related
—
Aug 25, 2009
—
Walter C Goodman
Goodman,virginia K
Quit Claim Deed
related
—
Dec 10, 2008
—
Walter C Goodman
Orien Chester Olson
Deed
$77,000 · Us Bank NA
—
—
Walter C Goodman
—
Deed Of Trust
related
$17,710 · Housing & Redev Authority Dulu
—
—
Anthony W Goodman
—
Deed Of Trust
related
$21,305 · Redevelopment Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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