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Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Apartment buildings
632 3rd St, Duluth, MN 55805-2067
Entity Owned
9-yr Hold
Absentee Owner
Property ID
US46-3255262
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1907
Total area
13,032 SF
Lot
0.42 ac (18,125 SF)
Zoning code
MCL
APN
010-3830-09980
UPID
US46-3255262
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
$1.64M
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.28M
Owner & transaction history
Friday Place LLC · 9 yrs held
Friday Place LLC
since 2016
7 recorded transactions
Zoning & alternative use
MCL · Duluth, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+35.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,780,000
6.5%
$1,640,000
7%
$1,525,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,485,000
Current use
COMMERCIAL (GENERAL)
$2,015,000
Change: +35% · Conversion: Moderate
Blend value · Realmo final
$1.28M
Range $1.15M – $1.40M · ±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
$98 / 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
$14,720
Tax year 2023
Assessed value
$804,800
Assessed 2022
Previous assessed
$750,900
+7.2% YoY
Effective rate
1.83%
On assessed value
Assessed land
$420,500
Assessed improvement
$384,300
Land market value
$420,500
Improvement market value
$384,300
Total market value
$804,800
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
1907
Heating
HOT WATER
Stories
3
Units
18
Total area
13,032 SF
Lot
0.42 ac (18,125 SF)
Zoning code
MCL
APN
010-3830-09980
UPID
US46-3255262
Jurisdiction
ST LOUIS
Zoning & alternative use
MCL · Duluth, MN
Zoning MCL · permitted uses
MCL · 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
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.0M
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
1907
Heating
HOT WATER
Stories
3
Units
18
Lot
0.42 ac
Current owner
From public records · entity-resolved
Friday Place LLC
Entity
Mailing address
5302 S CANT RD, DULUTH, MN 55804-9689
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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 17, 2020
—
Friday Place LLC
—
Deed Of Trust
related
$200,000 · Bell Bk
Dec 19, 2016
—
Friday Place LLC
Friday Terrace LLC
Quit Claim Deed
related
—
Jan 8, 2007
$635,000
Friday Terrace LLC
Gregory C Follmer
Warranty Deed
$506,400 · Us Bank NA
—
—
Friday Terrace LLC
—
Deed Of Trust
related
$29,500 · City Of Duluth
—
—
Friday Terrace LLC
—
Deed Of Trust
related
$597,000 · Superior Choice Cu
—
—
Friday Terrace LLC
—
Deed Of Trust
related
$163,000 · Superior Choice Cu
—
—
Vesterstein,scott & Lori
—
Deed Of Trust
related
$40,000 · Pioneer Nat'l Bk
—
—
Friday Place LLC
—
Deed Of Trust
related
$553,000 · Bell Bk
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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