3823 W 6th St · Duluth, MN 55807

$225,000

2 bd · 2.0 ba · 1,584 sqft · MultiFamily · 21 Days on market

Built 1909 Fair condition 0.25 ac lot $142/sqft · at area comps Est $217k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +5.9/15.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

A duplex in great shape in a quiet neighborhood. Each unit has a large living space and one bedroom. Separate Electric and water meters. Separate laundry facilities. Fenced in back yard and extra large insulated garage with heater.

Key facts

• Large mudroom
• New water heater
• Two living areas

Tags

• TWO FULL KITCHENS
• TWO LIVING AREAS
• LARGE MUDROOM
• NEW WINDOWS
• NEW KITCHEN FLOOR
• NEW WATER HEATER

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family detached residence; Two stories
• Construction: Stone foundation
• Exterior features: Fenced yard; Level lot; Lot dimensions approximately 50 x 125

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Master bedroom on the main level; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $225k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: 50 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $2,833/mo this rent would consume 55% 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.
• Current owner paid $140k; list at $225k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1909 — 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. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $217,239
• List price: $225,000
• Delta: 3.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3141 Restormel St	0.56mi	2/1.0	1,640 (+4%)	15mo	$1,250	$1	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $7,093
• Equity at exit: $33,548

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $62,376
• Equity at exit: $19,454

Cash invested: $63,000 (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: 13.2×

Monthly cashflow live

• Estimated rent: $2,833 medium
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $683

Break-even live

Break-even rent $1,968

Max offer price $225,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,834
Total (2 units)			$2,833

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5725 W 8th St Unit 2 Duluth, MN	3.0	1.0	1300	$1,550	$1.19	21d	1	1.06mi

Listing history 4 events

1. 2026-05-05
   listed $225,000 Active 521-char remark

   Show marketing remark (231 chars)

   A duplex in great shape in a quiet neighborhood. Each unit has a large living space and one bedroom. Separate Electric and water meters. Separate laundry facilities. Fenced in back yard and extra large insulated garage with heater.

2. 2026-05-05
   listed $225,000 Active 231-char remark

   Show marketing remark (231 chars)

   A duplex in great shape in a quiet neighborhood. Each unit has a large living space and one bedroom. Separate Electric and water meters. Separate laundry facilities. Fenced in back yard and extra large insulated garage with heater.

3. 2019-11-27
   soldstatus $140,000

   Show marketing remark (452 chars)

   Cute, clean, spacious, up and down Denfeld Duplex. Two 1 bedroom units, both with spacious living room, formal dining room, nice sized kitchens, and cute and clean bathrooms. There is a new roof, fenced yard, and over sized 2 car garage. The electric is separate, each unit has their own washer and dryer, and there a a large partially finished room in the basement. Currently owner occupied on the main floor with a long time tenant in the upper unit/

4. 2019-09-06
   listed $137,500

   Show marketing remark (452 chars)

   Cute, clean, spacious, up and down Denfeld Duplex. Two 1 bedroom units, both with spacious living room, formal dining room, nice sized kitchens, and cute and clean bathrooms. There is a new roof, fenced yard, and over sized 2 car garage. The electric is separate, each unit has their own washer and dryer, and there a a large partially finished room in the basement. Currently owner occupied on the main floor with a long time tenant in the upper unit/

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $33,996
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,720
• − Management: −$2,720
• − Depreciation: −$6,545
• Taxable income: $4,908
• Est. tax owed @ 24.0%: −$1,178
• After-tax cash flow: $7,020/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to update the kitchens and bathrooms, and improve the landscaping and fence. The property has good structural integrity and a good roof, but the interiors need significant work.

Repairs flagged

• Major kitchen cabinets — outdated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major landscaping — bare yard, fence needs maintenance

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value
• Both landscaping and fence maintenance — improving the yard and fence would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
landscaping · bare yard, fence needs maintenance	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value ↑
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value ↑
• Both landscaping and fence maintenance — improving the yard and fence would increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+63.6% since first listed

6 events — show timeline

• 2026-05-26 Pending — LSAR
• 2026-05-26 Pending — LSAR
• 2026-05-05 Listed $225,000 LSAR
• 2026-05-05 Listed $225,000 LSAR
• 2019-11-27 Sold (MLS) $140,000 LSAR
• 2019-09-06 Listed $137,500 LSAR