411 N 52nd Ave Ave W · Duluth, MN 55807

$299,000

3 bd · 2.0 ba · 1,188 sqft · MultiFamily public records · 36 Days on market

Built 1891 8,712 sqft lot $252/sqft · 127% above area

---

Why this score? — see what drove the D+ 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.2/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

You haven't seen one like this! Extremely well-maintained & thoughtfully improved licensed turnkey Duluth Duplex w/ gross annual income of $36,600 situated on FOUR fully-fenced in city lots w/ 2 stall heated garage; PLUS 4 additional off-street parking spots!! Ideal for owner-occupier or investor seeking strong rents, low vacancy & many recent improvements. Grocery, Menards & hiking trails in walking distance & convenient I-35 access. This 3/1 up down duplex offers features and income potential not commonly found in the area. Both units offer dedicated laundry. Unit 1: 3-bedroom unit leased MTM w/ fully updated kitchen, new appliances, refinished cabinetry, backsplash, and new flooring; a renovated bathroom with new vanity, toilet, sink, and hardware; a freshly finished and bright basement with egress window bedroom, new laundry unit, upgraded sump pump; and fresh paint and new fixtures throughout. Unit 2: 1-bedroom unit leased MTM FULLY FURNISHED w/ updated kitchen, new flooring, updated bathroom, in-unit laundry. Major system improvements include a newer electrical panel, Nat. gas F/A furnace w/ documented maintenance history, two new mobile A/C units, and an upgraded sump pump system. The property sits on a nearly 9,000 square foot fenced lot w/ raised garden bed, fire ring, outdoor sitting area, and storage shed. Licensed through January 2029.

Key facts

• Fenced yard
• In-unit laundry
• Outdoor sitting area

Tags

• UPDATED BATHROOM
• INDEPENDENT UPPER-LEVEL SUITE
• IN-UNIT LAUNDRY
• FENCED YARD
• RAISED GARDEN BED
• OUTDOOR SITTING AREA

Property features AI

Finance

• Other: Property listed as Residential — Single Family Residence

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; 2 stories
• Exterior features: Shed(s); Lot dimensions approximately 50 x 125

Interior

• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Natural gas heating
• Interior features: Master bedroom on the main level; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (8.1% below list).
• Recommended offer: $275k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• Zoned schools: Laura Macarthur Elementary (math 22% / reading 27%, grade F, #722 of 857 statewide, top 85%, 320 students, 76% FRL); Lincoln Park Middle School (math 26% / reading 39%, grade F, #186 of 258 statewide, top 72%, 524 students, 66% FRL); Denfeld High School (math 32% / reading 42%, grade F, #282 of 471 statewide, top 63%, 940 students, 56% FRL) — zoned schools average 66% FRL vs 39% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Duluth Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 50 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,748/mo this rent would consume 53% of the median local household income ($62k/yr) (locally 407% 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $50k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $274,800 (8.1% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 9.1

CMA / ARV

• ARV (median comp): $186,777
• List price: $299,000
• Delta: 60.08%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-30,378
• Equity at exit: $44,582

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-3,373
• Equity at exit: $25,852

Cash invested: $83,720 (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 55807

• Active inventory: 50
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $2,748 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$194 /mo · $2,322/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $285

Break-even live

Break-even rent $2,387

Max offer price $299,000

Occupancy floor 85%

Sensitivity live

Price	-10% $454	-5% $369	+0% $285	+5% $200	+10% $116
Rent	-10% $68	-5% $176	+0% $285	+5% $393	+10% $502
Rate	-1.0pp $435	-0.5pp $361	base $285	+0.5pp $207	+1.0pp $129

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,748
Total (2 units)			$2,748

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 N 53rd Ave W Duluth, MN	2.0	1.0	931	$1,250	$1.34	45d	1	0.12mi
5725 W 8th St Unit 2 Duluth, MN	3.0	1.0	1300	$1,550	$1.19	22d	1	0.57mi

Listing history 10 events

1. 2026-05-05
   price $329,000 1393-char remark

   Show marketing remark (1393 chars)

   You haven't seen one like this! Extremely well-maintained & thoughtfully improved licensed turnkey Duluth Duplex w/ gross annual income of $36,600 situated on FOUR fully-fenced in city lots w/ 2 stall heated garage; PLUS 4 additional off-street parking spots!! Ideal for owner-occupier or investor seeking strong rents, low vacancy & many recent improvements. Grocery, Menards & hiking trails in walking distance & convenient I-35 access. This 3/1 up down duplex offers features and income potential not commonly found in the area. Both units offer dedicated laundry. Unit 1: 3-bedroom unit leased MTM w/ fully updated kitchen, new appliances, refinished cabinetry, backsplash, and new flooring; a renovated bathroom with new vanity, toilet, sink, and hardware; a freshly finished and bright basement with egress window bedroom, new laundry unit, upgraded sump pump; and fresh paint and new fixtures throughout. Unit 2: 1-bedroom unit leased MTM FULLY FURNISHED w/ updated kitchen, new flooring, updated bathroom, in-unit laundry. Major system improvements include a newer electrical panel, Nat. gas F/A furnace w/ documented maintenance history, two new mobile A/C units, and an upgraded sump pump system. The property sits on a nearly 9,000 square foot fenced lot w/ raised garden bed, fire ring, outdoor sitting area, and storage shed. Licensed through January 2029.

2. 2026-05-05
   price $329,000 1344-char remark

   Show marketing remark (1393 chars)

   You haven't seen one like this! Extremely well-maintained & thoughtfully improved licensed turnkey Duluth Duplex w/ gross annual income of $36,600 situated on FOUR fully-fenced in city lots w/ 2 stall heated garage; PLUS 4 additional off-street parking spots!! Ideal for owner-occupier or investor seeking strong rents, low vacancy & many recent improvements. Grocery, Menards & hiking trails in walking distance & convenient I-35 access. This 3/1 up down duplex offers features and income potential not commonly found in the area. Both units offer dedicated laundry. Unit 1: 3-bedroom unit leased MTM w/ fully updated kitchen, new appliances, refinished cabinetry, backsplash, and new flooring; a renovated bathroom with new vanity, toilet, sink, and hardware; a freshly finished and bright basement with egress window bedroom, new laundry unit, upgraded sump pump; and fresh paint and new fixtures throughout. Unit 2: 1-bedroom unit leased MTM FULLY FURNISHED w/ updated kitchen, new flooring, updated bathroom, in-unit laundry. Major system improvements include a newer electrical panel, Nat. gas F/A furnace w/ documented maintenance history, two new mobile A/C units, and an upgraded sump pump system. The property sits on a nearly 9,000 square foot fenced lot w/ raised garden bed, fire ring, outdoor sitting area, and storage shed. Licensed through January 2029.

3. 2026-04-23
   listed $349,000 Active 1344-char remark
4. 2026-04-22
   listed $349,000 Active 1393-char remark

   Show marketing remark (1393 chars)

   You haven't seen one like this! Extremely well-maintained & thoughtfully improved licensed turnkey Duluth Duplex w/ gross annual income of $36,600 situated on FOUR fully-fenced in city lots w/ 2 stall heated garage; PLUS 4 additional off-street parking spots!! Ideal for owner-occupier or investor seeking strong rents, low vacancy & many recent improvements. Grocery, Menards & hiking trails in walking distance & convenient I-35 access. This 3/1 up down duplex offers features and income potential not commonly found in the area. Both units offer dedicated laundry. Unit 1: 3-bedroom unit leased MTM w/ fully updated kitchen, new appliances, refinished cabinetry, backsplash, and new flooring; a renovated bathroom with new vanity, toilet, sink, and hardware; a freshly finished and bright basement with egress window bedroom, new laundry unit, upgraded sump pump; and fresh paint and new fixtures throughout. Unit 2: 1-bedroom unit leased MTM FULLY FURNISHED w/ updated kitchen, new flooring, updated bathroom, in-unit laundry. Major system improvements include a newer electrical panel, Nat. gas F/A furnace w/ documented maintenance history, two new mobile A/C units, and an upgraded sump pump system. The property sits on a nearly 9,000 square foot fenced lot w/ raised garden bed, fire ring, outdoor sitting area, and storage shed. Licensed through January 2029.

5. 2023-09-11
   soldstatus $200,000
6. 2023-09-05
   soldstatus $200,000

   Show marketing remark (227 chars)

   Turn-key owner occupied duplex with three bedrooms in one unit, and one bedroom in the other. Large fenced in yard across four city lots. Quiet street. Two car garage, extra parking, and shed. Don’t let this one get away!

7. 2023-07-10
   listed $209,900

   Show marketing remark (227 chars)

   Turn-key owner occupied duplex with three bedrooms in one unit, and one bedroom in the other. Large fenced in yard across four city lots. Quiet street. Two car garage, extra parking, and shed. Don’t let this one get away!

8. 2018-11-19
   soldstatus $124,900
9. 2018-11-15
   soldstatus $124,900
10. 2018-09-25
    listed $124,900

ⓘ 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: $2,322 · $194/mo
• Projected year-2 tax: $2,835 · $236/mo
• Expected delta: +$513/yr (+$43/mo · 22.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,976
• − Mortgage interest: −$16,749
• − Property taxes: −$2,322
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,638
• − Management: −$2,638
• − Depreciation: −$8,698
• Taxable loss: −$1,564
• Est. tax savings @ 24.0%: +$375
• After-tax cash flow: $3,794/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): 9,763
• Household income: $62,067
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 407.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 4% Native American 1% Black 1%
• Common ancestry: Portuguese 14% Romanian 6% Lithuanian 4%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -127.84%
• Current HPI: 212.6883
• Rent YoY: —
• 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

+139.4% since first listed

14 events — show timeline

• 2026-05-29 Pending — LSAR
• 2026-05-29 Pending — LSAR
• 2026-05-21 Price Changed $299,000 LSAR
• 2026-05-21 Price Changed $299,000 LSAR
• 2026-05-05 Price Changed $329,000 LSAR
• 2026-05-05 Price Changed $329,000 LSAR
• 2026-04-23 Listed $349,000 LSAR
• 2026-04-22 Listed $349,000 LSAR
• 2023-09-11 Sold (Public Records) $200,000 Public Records
• 2023-09-05 Sold (MLS) $200,000 LSAR
• 2023-07-10 Listed $209,900 LSAR
• 2018-11-19 Sold (Public Records) $124,900 Public Records
• 2018-11-15 Sold (MLS) $124,900 LSAR
• 2018-09-25 Listed $124,900 LSAR

Property tax history

+2.5%/yr

Latest (2026): $2,322 · -0.2% YoY. Source: county tax records.