1905-07 E Superior St · Duluth, MN 55812

$375,000

9 bd · 6.0 ba · 4,905 sqft · MultiFamily public records · 12 Days on market

Built 1920 4,792 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Centrally located in the prime East End area, this 6-unit building presents a lucrative investment opportunity for investors. Five of the six units are already rented, offering immediate income generation. With some sweat equity, the vacant unit can be upgraded to enhance its value further. The property features coin-operated laundry, ensuring additional income streams. Tenants are responsible for electric and trash, while the owner covers water, sewer, and gas expenses. Situated within walking distance to colleges, on a bus line, and close to Lake Superior, Lakewalk, and Downtown, this property boasts excellent rental potential and convenience. Don't miss the chance to expand your rental portfolio with this rare find!

Key facts

• Close to lake walk
• Bus line
• Prime east location

Tags

• PRIME EAST LOCATION
• CLOSE TO UNIVERSITIES
• BUS LINE
• CLOSE TO LAKE WALK
• CLOSE TO DOWNTOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $702/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $375k).
• Cap rate 13.0% 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 (+8.1%/yr); 50 active listings in the ZIP; 639 units permitted in St. Louis County in 2024 (338 in 5+ unit buildings).
• At $6,093/mo this rent would consume 112% of the median local household income ($66k/yr) (locally 655% 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 $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $105k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $375,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.62% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.07%
• DSCR: 2.07
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.01×
• Total profit: $105,762
• Equity at exit: $55,914

10-year hold

• IRR: 34.1%
• Equity multiple: 4.92×
• Total profit: $412,072
• Equity at exit: $32,423

Cash invested: $105,000 (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 55812

• Rents YoY: 8.1%
• Active inventory: 50
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $6,093 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$584 /mo · $7,010/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,280
• Net cashflow: $2,107

Break-even live

Break-even rent $3,427

Max offer price $375,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$6,093
Total (3 units)			$6,093

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-12
   status Pending
2. 2026-02-26
   listed $375,000 Active
3. 2024-07-22
   soldstatus $465,000
4. 2024-07-10
   soldstatus $465,000 728-char remark

   Show marketing remark (728 chars)

   Centrally located in the prime East End area, this 6-unit building presents a lucrative investment opportunity for investors. Five of the six units are already rented, offering immediate income generation. With some sweat equity, the vacant unit can be upgraded to enhance its value further. The property features coin-operated laundry, ensuring additional income streams. Tenants are responsible for electric and trash, while the owner covers water, sewer, and gas expenses. Situated within walking distance to colleges, on a bus line, and close to Lake Superior, Lakewalk, and Downtown, this property boasts excellent rental potential and convenience. Don't miss the chance to expand your rental portfolio with this rare find!

5. 2024-04-09
   listed $474,900 728-char remark

   Show marketing remark (728 chars)

   Centrally located in the prime East End area, this 6-unit building presents a lucrative investment opportunity for investors. Five of the six units are already rented, offering immediate income generation. With some sweat equity, the vacant unit can be upgraded to enhance its value further. The property features coin-operated laundry, ensuring additional income streams. Tenants are responsible for electric and trash, while the owner covers water, sewer, and gas expenses. Situated within walking distance to colleges, on a bus line, and close to Lake Superior, Lakewalk, and Downtown, this property boasts excellent rental potential and convenience. Don't miss the chance to expand your rental portfolio with this rare find!

6. 2016-04-15
   soldstatus $215,000 273-char remark

   Show marketing remark (273 chars)

   PRIME EAST END 6-PLEX! Located within walking distance to colleges, on busline & close to Lake Superior, Lakewalk and Downtown. Excellent income producer. Add'l Unit info: #5 - 2 BR/1 Bath - Lvl 3 - 500 sqft - $600/mo; #6 - 2 BR/1 Bath - Lvl 1 - 800 sqft - $861/mo.

7. 2016-01-26
   listed $220,000 273-char remark

   Show marketing remark (273 chars)

   PRIME EAST END 6-PLEX! Located within walking distance to colleges, on busline & close to Lake Superior, Lakewalk and Downtown. Excellent income producer. Add'l Unit info: #5 - 2 BR/1 Bath - Lvl 3 - 500 sqft - $600/mo; #6 - 2 BR/1 Bath - Lvl 1 - 800 sqft - $861/mo.

8. 2003-11-17
   soldstatus $247,900
9. 2001-07-09
   soldstatus $36,000

ⓘ 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: $7,010 · $584/mo
• Projected year-2 tax: $7,010 · $584/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 1/10 Low 7 d/yr ≥90°F today · 12 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: $73,116
• − Mortgage interest: −$21,006
• − Property taxes: −$7,010
• − Insurance: −$1,875
• − Repairs & maintenance: −$5,849
• − Management: −$5,849
• − Depreciation: −$10,909
• Taxable income: $20,618
• Est. tax owed @ 24.0%: −$4,948
• After-tax cash flow: $20,330/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): 10,859
• Household income: $65,505
• Rent vs Own: 57.4% rent · 42.6% own
• Severe rent burden: 655.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 5% Hispanic / Latino 4% Black 4% Asian 3% Native American 1%
• Common ancestry: Portuguese 12% Romanian 6% Scottish 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -277.88%
• Current HPI: 196.8354
• Rent YoY: ▲ 8.07%
• 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

+941.7% since first listed

9 events — show timeline

• 2026-03-12 Pending — LSAR
• 2026-02-26 Listed $375,000 LSAR
• 2024-07-22 Sold (Public Records) $465,000 Public Records
• 2024-07-10 Sold (MLS) $465,000 LSAR
• 2024-04-09 Listed $474,900 LSAR
• 2016-04-15 Sold (MLS) $215,000 LSAR
• 2016-01-26 Listed $220,000 LSAR
• 2003-11-17 Sold (Public Records) $247,900 Public Records
• 2001-07-09 Sold (Public Records) $36,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $7,010 · -1.0% YoY. Source: county tax records.