1211 E 1st St · Duluth, MN 55805

$394,500

4 bd · 3.0 ba · 2,590 sqft · MultiFamily public records · 67 Days on market

Built 1891 10,497 sqft lot Est $334k · 18% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +6.5/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

Key facts

• Fully refreshed
• Major updates
• 0.24 acre lot

Tags

• FULLY REFRESHED
• MAJOR UPDATES
• MOVE-IN-READY OPPORTUNITY
• STRONG RENTAL POTENTIAL
• QUICK TENANT TURNOVER
• TURNKEY INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Owner-occupied: No; Rental license: Yes (standard)
• Financial info: Property is a triplex with 3 total units; Owner currently pays: all utilities, common area maintenance, electricity, exterior maintenance, gas, heat, insurance, repairs, sewer, trash collection and water; Tenants responsible for cable TV and snow removal; Gross income reported: $55,200; Water/sewer expense: $763.08; Electric expense: $1,284; Standard rental license in place
• HOA & community: Association laundry amenity

Exterior

• Parking: Asphalt parking lot; 2-car garage with approx. 20x24 dimensions
• Utilities: City water connected; City sewer connected; Natural gas fuel; Electric service with circuit breakers and 200+ amp capacity
• Home design: Residential income property (triplex); Two levels
• Construction: Frame construction; Asphalt roof (age 8 years or less); Stone foundation
• Exterior features: Front porch; City street frontage with curbs, paved streets, sidewalks and street lights; Storm sewer

Interior

• Kitchen: Kitchens in each unit (appliance specifics not provided)
• Bedrooms: Total of 5 bedrooms (across units); Unit breakdown: one 3-bedroom unit; two 1-bedroom units
• Bathrooms: Multiple bathrooms across units including full and 3/4 baths
• Heating & cooling: Boiler heating; Radiant heat
• Interior features: Full, unfinished basement; Tree coverage on lot (medium)
• Laundry & utility: In-basement laundry; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $394k.

Deal economics

• At list price, monthly cash flow is $947 ($11k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $394k).
• Recommended offer: $371k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.9% in Duluth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#36 in MN, #1,060 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Duluth Public School District (urban): math 44% / reading 55% proficiency, ranked #132 of 301 in MN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 42 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $4,545/mo this rent would consume 127% of the median local household income ($43k/yr) (locally 927% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $110k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $145k; list at $394k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $370,830 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $334,110
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1319 E 3rd St	0.18mi	4/4.0	2,551 (-2%)	18mo	$388,000	$152	70
1319 E 6th St	0.36mi	4/3.0	2,782 (+7%)	1mo	$360,000	$129	70
1612 E 6th St	0.47mi	4/4.0	2,412 (-7%)	1mo	$240,000	$100	61
705 E 6th St	0.57mi	4/3.0	2,464 (-5%)	9mo	$195,250	$79	58
421 N 18th Ave Ave E	0.54mi	3/3.0 (-1)	2,276 (-12%)	13mo	$320,000	$141	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $2,608
• Equity at exit: $58,821

10-year hold

• IRR: 11.5%
• Equity multiple: 1.96×
• Total profit: $106,184
• Equity at exit: $34,109

Cash invested: $110,460 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 46 Balanced
• State Minnesota: 46 Balanced · D+2
• County: — inherits STATE
• City: — inherits STATE

2024 reforms strengthened tenant protections; ramsey/hennepin courts paced moderate to slow.

Methodology + full state rankings →

ZIP-level market 55805

• Home prices YoY: -27.1%
• Rents YoY: 4.3%
• Active inventory: 42
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $4,545 high
• Mortgage (P&I): −$2,069
• Tax from tax record: −$410 /mo · $4,926/yr
• Insurance: −$164
• HOA: −$0
• Vacancy / Maint / Mgmt: −$954
• Net cashflow: $947

Break-even live

Break-even rent $3,346

Max offer price $394,500

Occupancy floor 74%

Sensitivity live

Price	-10% $1,170	-5% $1,059	+0% $947	+5% $835	+10% $724
Rent	-10% $588	-5% $767	+0% $947	+5% $1,126	+10% $1,306
Rate	-1.0pp $1,146	-0.5pp $1,047	base $947	+0.5pp $845	+1.0pp $741

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,659
▸ 2× units	1	1	$2,886
Total (3 units)			$4,545

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $98,625
• Closing costs: $11,835
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 S 18th Ave E Duluth, MN	5.0	2.5	2372	$2,495	$1.05	13d	1	0.52mi
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	13d	1	0.61mi
609 E 6th St Duluth, MN	5.0	2.0	1850	$1,795	$0.97	21d	1	0.65mi

Listing history 14 events

1. 2026-05-04
   status Pending 918-char remark

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

2. 2026-05-04
   status Pending

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

3. 2026-04-27
   historical Contingent - Inspection
4. 2026-04-09
   price $394,500 918-char remark

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

5. 2026-04-09
   price $394,500

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

6. 2026-02-26
   listed $399,000 Active
7. 2026-02-01
   historical
8. 2025-12-15
   price $399,000

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

9. 2025-12-15
   price $399,000 918-char remark

   Show marketing remark (918 chars)

   Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

10. 2025-10-13
    listed $415,000 Active 918-char remark

    Show marketing remark (918 chars)

    Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

11. 2025-10-13
    listed $415,000 Active

    Show marketing remark (918 chars)

    Now’s your chance to invest in a fully refreshed Tri-Plex that’s ready to start generating income right away! The seller has just completed major updates, investing thousands to bring this property into immediate rentable condition. Fresh paint, new flooring, updated light fixtures, and completed interior and exterior maintenance make this a move-in-ready opportunity for tenants. This property features three units — one spacious 3-bedroom, 1-bedroom, and 1 efficiency. One 1-bedroom is already rented, while the other two are primed and ready for new tenants. Conveniently located near area hospitals, this property offers strong rental potential and quick tenant turnover. Whether you’re a seasoned investor or just starting out, this is a smart addition to any portfolio. Don’t miss out — schedule your showing today and take advantage of this turnkey investment opportunity!

12. 2025-01-21
    listed Active
13. 2003-07-08
    soldstatus $145,000
14. 2001-06-04
    soldstatus $116,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MN · Partial reset (capped growth)

• Current annual tax: $4,926 · $410/mo
• Projected year-2 tax: $4,926 · $410/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,540
• − Mortgage interest: −$22,098
• − Property taxes: −$4,926
• − Insurance: −$1,972
• − Repairs & maintenance: −$4,363
• − Management: −$4,363
• − Depreciation: −$11,476
• Taxable income: $5,341
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $10,081/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Duluth Public School District
• NCES district ID: 2711040
• Math proficiency: 44% ▼ -10.00%
• Reading proficiency: 55% ▼ -6.00%
• Median HH income: $45,692
• Composite: 41.92/100
• National rank: #3360
• State rank: #132 of 301 in MN

Livability — Duluth

• Score: 82/100
• State rank: #36
• US rank: #1060

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment C+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Duluth, MN
• County: Saint Louis County · 115,152 people
• City population: 71,097
• Metro: Duluth, MN-WI
• Population (ZIP): 10,602
• Household income: $43,100
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 927.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 202,411 people
• By 2030: 203,234 · +0.4%
• By 2040: 202,520 · +0.1%
• By 2050: 200,853 · -0.8%
• By 2075: 200,943 · -0.7%
• By 2100: 192,058 · -5.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 4% Black 3% Asian 2% Native American 2%
• Common ancestry: Portuguese 13% Romanian 4% Scottish 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · St. Louis

• 2024 margin: D (+13.7) · D 55.9% · R 42.2% · Other 1.8%
• 2008→2024 swing: -18.8pp toward R · 2008: 32.5pp · 2024: 13.7pp
• All cycles: 2024: D+13.7 2020: D+15.6 2016: D+11.8 2012: D+29.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.92%
• Current HPI: 250.3056
• Rent YoY: ▲ 4.34%
• Metro: Duluth, MN-WI
• State GDP YoY: ▲ 2.41%
• F500 in state: 34

Industry mix (Fortune 500 HQ in MN)

Industry	F500 HQs	Revenue
▸Healthcare	2	$407B
▸Retail	2	$150B
▸Consumer Goods	2	$32B
▸Industrial Machinery	2	$6B
▸Agriculture	1	$40B
▸Healthcare / Medical Devices	1	$32B

Price history

+240.1% since first listed

14 events — show timeline

• 2026-05-04 Pending — LSAR
• 2026-05-04 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-27 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-09 Price Changed $394,500 LSAR
• 2026-04-09 Price Changed $394,500 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-26 Listed $399,000 NORTHSTARMLS as Distributed by MLS Grid
• 2026-02-01 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $399,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-12-15 Price Changed $399,000 LSAR
• 2025-10-13 Listed $415,000 NORTHSTARMLS as Distributed by MLS Grid
• 2025-10-13 Listed $415,000 LSAR
• 2025-01-21 Listed — LSAR
• 2003-07-08 Sold (Public Records) $145,000 Public Records
• 2001-06-04 Sold (Public Records) $116,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $4,926 · +9.6% YoY. Source: county tax records.