611 E 6th St · Duluth, MN 55805

$315,000

4 bd · 2.0 ba · 2,192 sqft · MultiFamily public records · 52 Days on market

Built 1913 3,485 sqft lot $144/sqft · 41% above area Est $224k · 41% 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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +6.2/10.0
• 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: 2 units. confirmed

Listing remarks

Unbelievable opportunity to owner occupy and potentially short term or Air B & B rent this property out (see City Of Duluth web site for all rental requirements or ask your Realtor about the associated documents). Or Owner occupy one unit and rent the other and then use the owner occupancy vacation rental rules and take a 2 week vacation and rent out your unit (again, see City Of Duluth web site for all rental requirements or ask your Realtor about the associated documents)? All kinds of potential in this four bedroom, two bath up/down fully rehabbed inside and out duplex! Both units also have new appliances and are currently rented, one lease ends in July the other in August. Off s

Key facts

• Fully rehabbed
• Back yard
• Off street parking

Tags

• FULLY REHABBED
• NEW APPLIANCES
• OFF STREET PARKING
• BACK YARD

Property features AI

Finance

• Financial info: Actual rent: Two units at $1,400 each

Exterior

• Parking: No dedicated parking listed
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); 2 stories
• Exterior features: Lot dimensions approximately 25 x 140

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive. Per door: $358/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $306k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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 $3,517/mo this rent would consume 98% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $88k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago 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.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $305,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.75%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

• ARV (median comp): $223,779
• List price: $315,000
• Delta: 40.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 E 6th St	0.07mi	4/3.0	2,464 (+12%)	9mo	$195,250	$79	64
201 E 6th St Unit 1-3	0.38mi	5/3.0 (+1)	2,250 (+3%)	6mo	$245,000	$109	64
329 E 6th St	0.22mi	4/2.0	1,934 (-12%)	13mo	$243,000	$126	59
521-523 N 3rd Ave E	0.31mi	4/1.0	2,388 (+9%)	14mo	$235,000	$98	55
1407 E 3rd St	0.72mi	5/2.0 (+1)	2,000 (-9%)	0mo	$290,000	$145	46

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-593
• Equity at exit: $46,968

10-year hold

• IRR: 10.8%
• Equity multiple: 1.89×
• Total profit: $78,472
• Equity at exit: $27,235

Cash invested: $88,200 (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: 14.9×

Monthly cashflow live

• Estimated rent: $3,517 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$278 /mo · $3,340/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $717

Break-even live

Break-even rent $2,609

Max offer price $315,000

Occupancy floor 75%

Sensitivity live

Price	-10% $895	-5% $806	+0% $717	+5% $628	+10% $539
Rent	-10% $439	-5% $578	+0% $717	+5% $856	+10% $995
Rate	-1.0pp $876	-0.5pp $797	base $717	+0.5pp $635	+1.0pp $552

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,518
Total (2 units)			$3,517

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 E 6th St Duluth, MN	5.0	2.0	1850	$1,795	$0.97	21d	1	0.01mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1209	$3,299	$2.73	21d	7	1.04mi
100 N 5th Ave W Duluth, MN	3.0	1.0–2.0	1207	$3,999	$3.31	14d	1	1.04mi
414 N 19th Ave E Duluth, MN	4.0	1.0	1900	$2,295	$1.21	14d	1	1.14mi
1821 E 1st St Duluth, MN	5.0	2.0	1662	$2,300	$1.38	14d	1	1.14mi
202 S 18th Ave E Duluth, MN	5.0	2.5	2372	$2,495	$1.05	14d	1	1.17mi
2125 E Superior St Unit 3 Duluth, MN	4.0	1.0	1622	$1,850	$1.14	14d	1	1.43mi

Listing history 26 events

1. 2026-06-19
   days on market $315,000 Active 52 DOM
2. 2026-06-18
   days on market $315,000 Active 51 DOM
3. 2026-06-17
   days on market $315,000 Active 50 DOM
4. 2026-06-16
   days on market $315,000 Active 49 DOM
5. 2026-06-15
   days on market $315,000 Active 48 DOM
6. 2026-06-14
   days on market $315,000 Active 46 DOM
7. 2026-06-13
   days on market $315,000 Active 45 DOM
8. 2026-06-10
   days on market $315,000 Active 43 DOM
9. 2026-06-09
   days on market $315,000 Active 42 DOM
10. 2026-06-08
    days on market $315,000 Active 41 DOM
11. 2026-06-07
    days on market $315,000 Active 40 DOM
12. 2026-06-05
    pricedays on market $315,000 Active 37 DOM
13. 2026-06-03
    days on market $325,000 Active 36 DOM
14. 2026-06-02
    days on market $325,000 Active 35 DOM
15. 2026-06-01
    days on market $325,000 Active 34 DOM
16. 2026-05-31
    days on market $325,000 Active 33 DOM
17. 2026-05-30
    days on market $325,000 Active 32 DOM
18. 2026-05-12
    price $325,000 801-char remark
19. 2026-04-27
    listed $330,000 Active 801-char remark
20. 2013-09-14
    historical
21. 2012-10-22
    listed $100,000
22. 2012-06-03
    historical
23. 2012-01-18
    listed $110,000
24. 2011-09-21
    listed $79,900
25. 2010-10-22
    listed $79,900
26. 2010-02-27
    listed $79,900

ⓘ 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: $3,340 · $278/mo
• Projected year-2 tax: $3,434 · $286/mo
• Expected delta: +$94/yr (+$8/mo · 2.8%)

ⓘ 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 1/10 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: $42,204
• − Mortgage interest: −$17,645
• − Property taxes: −$3,340
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,376
• − Management: −$3,376
• − Depreciation: −$9,164
• Taxable income: $3,728
• Est. tax owed @ 24.0%: −$895
• After-tax cash flow: $7,709/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

+294.2% since first listed

10 events — show timeline

• 2026-06-04 Price Changed $315,000 LSAR
• 2026-05-12 Price Changed $325,000 LSAR
• 2026-04-27 Listed $330,000 LSAR
• 2013-09-14 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-10-22 Listed $100,000 NORTHSTARMLS as Distributed by MLS Grid
• 2012-06-03 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2012-01-18 Listed $110,000 NORTHSTARMLS as Distributed by MLS Grid
• 2011-09-21 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-10-22 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid
• 2010-02-27 Listed $79,900 NORTHSTARMLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2026): $3,340 · +5.8% YoY. Source: county tax records.