432 N 7th Ave E

70 photos

Photos courtesy of Messina & Associates Real Estate, via Realtor.com.

Asking price: $275,000
Monthly cash flow: −$124
Estimated rent: $2,600/mo
Break-even price: $251,685

Adjust the numbers See the full breakdown

From the listing

Turnkey income property in Duluth's East End. 1896 duplex, two fully furnished units, 682 sq ft each, both leased at $2,400/month; owner pays all utilities. In-unit laundry in both units. Unit 1 (432 N 7th Ave): 2 bed, 1 bath. Unit 2 (702 E 5th St): 2 bed, 1 bath. Clean, neutral interiors with updated kitchens and stainless appliances. Walking distance to Downtown Duluth, the Lakewalk, and Lake Superior. Near Leif Erikson Park, Chester Park, and Chester Bowl trails. Close to shops, restaurants, St. Luke's Hospital, UMD, and St. Scholastica. Four off-street parking spaces. Active rental license. Furnishings included. 24-hour notice required. Double Lot

Listing courtesy of Messina & Associates Real Estate (NICKI CONRAD). Description from Realtor.com, MLS #6127408. 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: $275,000
Cash to close: $63,250
Price per unit: $137,500
GRM: 8.8

Each month

Cash flow: −$124/mo
Cash-on-cash: −2.4%
Cap rate: 5.8%
DSCR: 0.92×

Break-even

Price that breaks even: $251,685
Rent that breaks even: $2,761/mo

Long run

Year 30: property vs stocks: $1.01M vs $503K
Cash flow turns positive: year 5

Monthly

Monthly breakdown

Rent	$2,600
Vacancy (6%)	−$156
Collected	$2,444
Property tax Listing	−$236
Insurance Estimate	−$196
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$208
Capital reserve (9% of rent)	−$234
Net operating income	$1,340
Mortgage (principal + interest)	−$1,464
Cash flow	−$124
Principal paid down (equity, not cash)	$186

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	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$156,213 of profit by year 30, before investment growth	$257,077
What you'd walk away with	$884,524
If you put the same money in stocks
Cash to close ($35,750) invested at 7%	$272,138
Monthly shortfalls ($23,824 total by yr 30) investedThe money you'd have put into the building while it lost money	$148,731
What you'd walk away with	$420,870
Building minus stocks	$463,654

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $247,500 of principal by year 30	$0
Plus rental profits, invested at 7%$66,285 of profit by year 30, before investment growth	$91,498
What you'd walk away with	$718,945
If you put the same money in stocks
Cash to close ($35,750) invested at 7%	$272,138
Monthly shortfalls ($59,472 total by yr 30) investedThe money you'd have put into the building while it lost money	$325,300
What you'd walk away with	$597,438
Building minus stocks	$121,507

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$172,412 of profit by year 30, before investment growth	$294,026
What you'd walk away with	$898,657
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($18,198 total by yr 30) investedThe money you'd have put into the building while it lost money	$116,067
What you'd walk away with	$378,309
Building minus stocks	$520,348

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $238,500 of principal by year 30	$0
Plus rental profits, invested at 7%$77,500 of profit by year 30, before investment growth	$110,762
What you'd walk away with	$715,393
If you put the same money in stocks
Cash to close ($34,450) invested at 7%	$262,242
Monthly shortfalls ($48,862 total by yr 30) investedThe money you'd have put into the building while it lost money	$274,950
What you'd walk away with	$537,193
Building minus stocks	$178,200

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $220,000 of principal by year 30	$0
Plus rental profits, invested at 7%$208,932 of profit by year 30, before investment growth	$385,558
What you'd walk away with	$1,013,005
If you put the same money in stocks
Cash to close ($63,250) invested at 7%	$481,475
Monthly shortfalls ($3,253 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,962
What you'd walk away with	$503,437
Building minus stocks	$509,568

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $220,000 of principal by year 30	$0
Plus rental profits, invested at 7%$103,885 of profit by year 30, before investment growth	$160,452
What you'd walk away with	$787,900
If you put the same money in stocks
Cash to close ($63,250) invested at 7%	$481,475
Monthly shortfalls ($23,783 total by yr 30) investedThe money you'd have put into the building while it lost money	$139,004
What you'd walk away with	$620,479
Building minus stocks	$167,421

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$226,097 of profit by year 30, before investment growth	$432,689
What you'd walk away with	$1,037,320
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
Monthly shortfalls ($1,258 total by yr 30) investedThe money you'd have put into the building while it lost money	$8,762
What you'd walk away with	$472,729
Building minus stocks	$564,591

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $212,000 of principal by year 30	$0
Plus rental profits, invested at 7%$116,764 of profit by year 30, before investment growth	$187,051
What you'd walk away with	$791,682
If you put the same money in stocks
Cash to close ($60,950) invested at 7%	$463,967
Monthly shortfalls ($17,501 total by yr 30) investedThe money you'd have put into the building while it lost money	$105,271
What you'd walk away with	$569,238
Building minus stocks	$222,444

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $206,250 of principal by year 30	$0
Plus rental profits, invested at 7%$239,002 of profit by year 30, before investment growth	$470,074
What you'd walk away with	$1,097,522
If you put the same money in stocks
Cash to close ($77,000) invested at 7%	$586,144
Monthly shortfalls ($391 total by yr 30) investedThe money you'd have put into the building while it lost money	$2,784
What you'd walk away with	$588,928
Building minus stocks	$508,594

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$667,497
Minus 6% selling cost	−$40,050
Minus loan still owedTenants' rent paid down all $206,250 of principal by year 30	$0
Plus rental profits, invested at 7%$126,559 of profit by year 30, before investment growth	$208,291
What you'd walk away with	$835,738
If you put the same money in stocks
Cash to close ($77,000) invested at 7%	$586,144
Monthly shortfalls ($13,525 total by yr 30) investedThe money you'd have put into the building while it lost money	$83,148
What you'd walk away with	$669,291
Building minus stocks	$166,447

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$256,574 of profit by year 30, before investment growth	$523,851
What you'd walk away with	$1,128,482
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
Monthly shortfalls ($0 total by yr 30) investedThe money you'd have put into the building while it lost money	$0
What you'd walk away with	$564,829
Building minus stocks	$563,653

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$643,225
Minus 6% selling cost	−$38,593
Minus loan still owedTenants' rent paid down all $198,750 of principal by year 30	$0
Plus rental profits, invested at 7%$140,052 of profit by year 30, before investment growth	$239,048
What you'd walk away with	$843,679
If you put the same money in stocks
Cash to close ($74,200) invested at 7%	$564,829
Monthly shortfalls ($9,054 total by yr 30) investedThe money you'd have put into the building while it lost money	$57,345
What you'd walk away with	$622,174
Building minus stocks	$221,505

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 $1.01M, stocks $503K. The property wins.

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.

2 bed estimate $1,300/mo · range $1,200–$1,550 · 10 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
627 E 4th St, Duluth	$1,495	2 / 1	850	0.1 mi	2026-05-19	Apartment
611 E 6th St, Duluth	$1,275	2 / 1	100	0.1 mi	2026-06-12	Apartment
523 E 6th St, Duluth	$1,225	2 / 1	800	0.2 mi	2026-08-07	Apartment
918 922 E 5th St, Duluth	$1,300	2 / 1	1,600	0.2 mi	2026-07-02	Apartment
730 E 2nd St, Duluth	$1,550	2 / 2	725	0.2 mi	2024-04-23	Apartment
308 E 5th St, Duluth	$1,200	2 / 1	587	0.3 mi	2026-08-14	Apartment
1206 E 3rd St, Duluth	$1,000	2 / 1	609	0.5 mi	2026-05-29	Apartment
1301 E 3rd St, Duluth	$1,200	2 / 1	1,244	0.5 mi	2026-09-29	Apartment
15 E 4th St Apt B, Duluth	$1,025	2 / 1	—	0.6 mi	—	Apartment
5 W 1st St Apt 312, Duluth	$1,745	2 / 1	—	0.7 mi	2025-06-18	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 432 7TH AVE E N

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.	$2,834
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,355
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 1896: +1 pt capital reserve	8% / 9%

Status history

2026-08-17New at $275,000

From the listing Listing

Listed as	duplex
Property tax, 2026	$2,834
County	St. Louis County
Parcel number	010-3830-1730 & 010-3830-17510

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.