1432 E 4th St

Far off

52 photos

Photos courtesy of RE/MAX Results, via Realtor.com.

Asking price: $549,900
Monthly cash flow: −$1,531
Estimated rent: $3,150/mo
Break-even price: $262,329

Adjust the numbers See the full breakdown

From the listing

Welcome to 1432 E 4th St- a high-performing duplex investment opportunity located in the heart of Duluth's East Hillside neighborhood near local colleges, downtown Duluth, and Lake Superior. This spacious multi-unit property offers an ideal setup for student housing or long-term rentals with strong income potential and a functional layout designed to accommodate large tenant groups. Situated on a lot and a half, the property also offers ample off-street parking for residents, a highly desirable feature for multi-tenant housing. The property also features a newer roof, adding additional value and peace of mind for future ownership. This classic Duluth property has been meticulously maintained and is filled with amazing character, beautiful original woodwork, and stunning hardwood floors throughout, offering timeless charm that tenants appreciate while showcasing the pride of ownership carried throughout the property. The upper unit features 5 bedrooms and 1 bathroom, including 3 bedrooms on the main level and a large upper finished attic space that features 2 additional bedrooms, along with a fireplace that adds warmth and character to the living space. The upper unit also includes two refrigerators and a dishwasher, providing added convenience for larger tenant groups. The lower unit offers 5 bedrooms, with 2 bedrooms located on the main floor and an additional 3 bedrooms on the lower level, providing excellent flexibility and rental capacity. The lower unit also features its own fireplace, along with two refrigerators and a dishwasher. Both fireplaces are non-functional and serve as decorative features only, adding character without operational use. The building is serviced by two separate boilers, allowing independent heating systems for each unit. A common laundry area located in the basement is shared between both units for added convenience. The property is currently leased for $4,700 per month with tenants paying all utilities, creating strong cash flow potential and low owner expense responsibility. Current lease terms run from June 1, 2026 through May 19, 2027, offering immediate rental income and stability for the next owner. In addition to its strong investment performance, the property could also make an excellent future owner-occupied opportunity once current tenants move out, offering flexibility for a variety of ownership goals.

Listing courtesy of RE/MAX Results (Jordan Decaro). Description from Realtor.com, MLS #6127429. Believed reliable but not guaranteed; confirm with the listing agent. View on Realtor.com ↗

The numbers

Edit rents, costs and assumptions

Default: 20% down (no PMI), offer at asking, self-managed, 7.00% for 30 years, buyer pays closing costs (3%).

The deal

Price: $549,900
Cash to close: $126,477
Price per unit: $274,950
GRM: 14.5

Each month

Cash flow: −$1,531/mo
Cash-on-cash: −14.5%
Cap rate: 3.0%
DSCR: 0.48×

Break-even

Price that breaks even: $262,329
Rent that breaks even: $5,164/mo

Long run

Year 30: property vs stocks: $1.25M vs $2.20M
Cash flow turns positive: year 30

Monthly

Monthly breakdown

Rent	$3,150
Vacancy (6%)	−$189
Collected	$2,961
Property tax Listing	−$530
Insurance Estimate	−$238
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (9% of rent)	−$284
Capital reserve (9% of rent)	−$284
Net operating income	$1,396
Mortgage (principal + interest)	−$2,927
Cash flow	−$1,531
Principal paid down (equity, not cash)	$372

Cash flow each year

Rents +3%/yr, costs +3.5%/yr. Red bars are months you'd cover out of pocket.

30 years

How those totals add up

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $494,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,667
If you put the same money in stocks
Cash to close ($71,487) invested at 7%	$544,177
Monthly shortfalls ($451,549 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,748,084
What you'd walk away with	$2,292,261
Building minus stocks	−$1,037,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $494,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,667
If you put the same money in stocks
Cash to close ($71,487) invested at 7%	$544,177
Monthly shortfalls ($603,690 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,162,608
What you'd walk away with	$2,706,785
Building minus stocks	−$1,452,118

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $485,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,231,850
If you put the same money in stocks
Cash to close ($70,187) invested at 7%	$534,281
Monthly shortfalls ($429,724 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,678,471
What you'd walk away with	$2,212,752
Building minus stocks	−$980,902

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $485,910 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,231,850
If you put the same money in stocks
Cash to close ($70,187) invested at 7%	$534,281
Monthly shortfalls ($581,864 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,092,995
What you'd walk away with	$2,627,276
Building minus stocks	−$1,395,426

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $439,920 of principal by year 30	$0
Plus rental profits, invested at 7%$108 of profit by year 30, before investment growth	$108
What you'd walk away with	$1,254,774
If you put the same money in stocks
Cash to close ($126,477) invested at 7%	$962,775
Monthly shortfalls ($305,104 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,237,783
What you'd walk away with	$2,200,558
Building minus stocks	−$945,784

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $439,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,667
If you put the same money in stocks
Cash to close ($126,477) invested at 7%	$962,775
Monthly shortfalls ($457,137 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,652,200
What you'd walk away with	$2,614,975
Building minus stocks	−$1,360,308

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $431,920 of principal by year 30	$0
Plus rental profits, invested at 7%$746 of profit by year 30, before investment growth	$746
What you'd walk away with	$1,232,597
If you put the same money in stocks
Cash to close ($124,177) invested at 7%	$945,267
Monthly shortfalls ($286,582 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,178,090
What you'd walk away with	$2,123,357
Building minus stocks	−$890,760

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $431,920 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,231,850
If you put the same money in stocks
Cash to close ($124,177) invested at 7%	$945,267
Monthly shortfalls ($437,976 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,591,869
What you'd walk away with	$2,537,136
Building minus stocks	−$1,305,286

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $412,425 of principal by year 30	$0
Plus rental profits, invested at 7%$4,307 of profit by year 30, before investment growth	$4,490
What you'd walk away with	$1,259,157
If you put the same money in stocks
Cash to close ($153,972) invested at 7%	$1,172,074
Monthly shortfalls ($243,450 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,034,815
What you'd walk away with	$2,206,889
Building minus stocks	−$947,732

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,334,752
Minus 6% selling cost	−$80,085
Minus loan still owedTenants' rent paid down all $412,425 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,254,667
If you put the same money in stocks
Cash to close ($153,972) invested at 7%	$1,172,074
Monthly shortfalls ($391,284 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,444,849
What you'd walk away with	$2,616,923
Building minus stocks	−$1,362,256

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $404,925 of principal by year 30	$0
Plus rental profits, invested at 7%$6,444 of profit by year 30, before investment growth	$6,833
What you'd walk away with	$1,238,683
If you put the same money in stocks
Cash to close ($151,172) invested at 7%	$1,150,760
Monthly shortfalls ($227,624 total by yr 30) investedThe money you'd have put into the building while it lost money	$980,597
What you'd walk away with	$2,131,356
Building minus stocks	−$892,673

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$1,310,479
Minus 6% selling cost	−$78,629
Minus loan still owedTenants' rent paid down all $404,925 of principal by year 30	$0
Plus rental profits, invested at 7%$0 of profit by year 30, before investment growth	$0
What you'd walk away with	$1,231,850
If you put the same money in stocks
Cash to close ($151,172) invested at 7%	$1,150,760
Monthly shortfalls ($373,320 total by yr 30) investedThe money you'd have put into the building while it lost money	$1,388,288
What you'd walk away with	$2,539,048
Building minus stocks	−$1,307,198

Future dollars. At 3% inflation, divide year-30 figures by about 2.4 for today's buying power. Rental profits are assumed invested, not spent.

30 years: this property vs. the same money in stocks

This propertyStocks at 7%

Year 30 (loan paid off): property $1.25M, stocks $2.20M. Stocks win.

Comparable rentals

The closest rental listings with each unit's bedroom count, as of 2026-10-04. The estimate is the median asking rent of every rental we found nearby (the count is shown for each); houses are left out. Asking rents from Realtor.com rental listings, not signed leases.

5 bed estimate $1,575/mo · range $1,350–$1,975 · 33 rentals across Greater Minnesota

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
902 N 11th Ave E, Duluth	$1,585	4 / 1	1,119	0.5 mi	2026-06-10	Apartment
622 E 8th St, Duluth	$1,950	4 / 1	1,300	0.8 mi	2026-01-29	Apartment
1 N Hawthorne Rd, Duluth	$2,800	4 / 2	2,150	1.4 mi	2026-08-24	Apartment
1741 Sahlman Ave, Cloquet	$1,500	4 / 2	1,260	18.3 mi	2025-01-03	Apartment
1812 16th St SE, Saint Cloud	$1,675	4 / 1	1,200	130.7 mi	2025-05-02	Apartment
423 6th Ave S, Saint Cloud	$330	4 / 1	—	131.4 mi	2024-04-15	Apartment
817 6th Ave S Apt 303, Saint Cloud	$1,340	4 / 1	—	131.6 mi	2026-09-14	Apartment
1010 6th Ave S Apt 301, Saint Cloud	$1,300	4 / 1	900	131.7 mi	2026-06-18	Apartment
1217 4th Ave S Apt 202, Saint Cloud	$1,550	4 / 2	1,000	131.7 mi	2025-06-17	Apartment
500 12th St S Apt 206, Saint Cloud	$1,550	4 / 1	—	131.7 mi	2026-09-11	Apartment

On the maps, this property and comparable rentals. Comparable rentals and rent estimate: Realtor.com rental listings. Rents are asking rents from listings; check them against the actual leases.

Red flags and opportunities

Watch for

mediumCouldn't match this address to a county parcel record, so taxes and unit count are unverified. Public record: County parcels: no match for 1432 4TH ST E
mediumAsking is $287,571 above the price where cash flow breaks even ($262,329) at the default scenario. Based on: Derived: price $549,900 vs. break-even $262,329

Opportunities

None found.

Questions for the agent

Can we see the current leases and a rent roll, with move-in dates?
What did water/sewer/trash, heat and electric cost the owner over the last 12 months?
How old are the roof, boiler or furnaces, water heaters and electrical panels?
Is the building licensed as a rental for this many units, and when was the last city inspection?
Any special assessments pending, and will the seller pay them off at closing?

Standard questions worth asking about any building.

What the records say

Where each number comes from

Property tax / yr Listinglisting, tax year 2026. The tax the listing states. If the seller lives there it may be at the lower homestead rate; an investor owner pays the non-homestead rate, often 20–40% more on the owner's unit.	$6,358
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,855
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$170
Heat / mo Assumptionassumption. tenants pay heat; confirm with the agent	$0
Lawn care / mo Assumptionassumption. $120/mo for 6 months, spread over 12; no snow removal	$60
Repairs / capital reserve Rulerule. built 1910: +1 pt capital reserve; 10 bedrooms: +1 pt repairs for wear	9% / 9%

Status history

2026-08-18New at $549,900

From the listing Listing

Listed as	duplex
Property tax, 2026	$6,358
County	St. Louis County
Parcel number	010-1480-06730+ 010-1480-06720

As the listing states it (NorthstarMLS, via Realtor.com). We don't have county records here yet; check the tax, homestead status and special assessments with the county.

Crime, rental-license and vacant-building records are only available for St. Paul and Minneapolis so far. Check with Duluth on rental licensing before you buy.