1511 E 4th St

Cash flows

29 photos

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

Asking price: $349,900
Monthly cash flow: $84
Estimated rent: $3,900/mo
Break-even price: $365,637

Adjust the numbers See the full breakdown

From the listing

This well-maintained triplex offers an outstanding investment opportunity in a highly desirable location near local colleges, medical centers, downtown amenities, and major employment hubs. Featuring three licensed rental units, the property provides strong income potential, flexibility, and long-term rental appeal. Unit 1 is currently vacant and being marketed for rent at $1,600 per month with the owner paying utilities, offering an excellent opportunity to secure a new tenant at market rent or occupy the unit yourself. Unit 2 is leased at $1,300 per month through July 30, 2027, providing stable long-term income. Unit 3 is currently vacant and being marketed for rent at $1,200 per month with all utilities included, creating additional upside for future cash flow. All three units have solid rental histories, and the property maintains a current rental license. Tenants enjoy comfortable living spaces, ample off-street parking, and shared access to a full basement with laundry facilities accessible through a secure coded exterior entrance-an uncommon and highly desirable amenity for rental properties in this area. Whether you're looking to expand your investment portfolio, occupy one unit while generating income from the others, or secure a versatile multi-family property in a strong rental market, this triplex checks all the boxes. With two vacant units offering immediate leasing or owner-occupancy opportunities and one unit providing stable income through 2027, this property presents an attractive combination of flexibility and investment potential. Schedule your showing today!

Listing courtesy of RE/MAX Results (Jordan Decaro). Description from Realtor.com, MLS #6127851. 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: $349,900
Cash to close: $80,477
Price per unit: $116,633
GRM: 7.5

Each month

Cash flow: $84/mo
Cash-on-cash: 1.2%
Cap rate: 6.7%
DSCR: 1.04×

Break-even

Price that breaks even: $365,637
Rent that breaks even: $3,791/mo

Long run

Year 30: property vs stocks: $1.62M vs $613K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$3,900
Vacancy (6%)	−$234
Collected	$3,666
Property tax Listing	−$397
Insurance Estimate	−$345
Water, sewer, trash Estimate	−$255
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$312
Capital reserve (9% of rent)	−$351
Net operating income	$1,946
Mortgage (principal + interest)	−$1,862
Cash flow	$84
Principal paid down (equity, not cash)	$237

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	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $314,910 of principal by year 30	$0
Plus rental profits, invested at 7%$308,717 of profit by year 30, before investment growth	$577,376
What you'd walk away with	$1,375,717
If you put the same money in stocks
Cash to close ($45,487) invested at 7%	$346,259
Monthly shortfalls ($12,710 total by yr 30) investedThe money you'd have put into the building while it lost money	$83,352
What you'd walk away with	$429,610
Building minus stocks	$946,107

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $314,910 of principal by year 30	$0
Plus rental profits, invested at 7%$149,570 of profit by year 30, before investment growth	$232,321
What you'd walk away with	$1,030,662
If you put the same money in stocks
Cash to close ($45,487) invested at 7%	$346,259
Monthly shortfalls ($41,927 total by yr 30) investedThe money you'd have put into the building while it lost money	$251,518
What you'd walk away with	$597,776
Building minus stocks	$432,886

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $305,910 of principal by year 30	$0
Plus rental profits, invested at 7%$327,399 of profit by year 30, before investment growth	$626,722
What you'd walk away with	$1,402,246
If you put the same money in stocks
Cash to close ($44,187) invested at 7%	$336,363
Monthly shortfalls ($9,566 total by yr 30) investedThe money you'd have put into the building while it lost money	$63,085
What you'd walk away with	$399,447
Building minus stocks	$1,002,799

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $305,910 of principal by year 30	$0
Plus rental profits, invested at 7%$164,084 of profit by year 30, before investment growth	$262,336
What you'd walk away with	$1,037,861
If you put the same money in stocks
Cash to close ($44,187) invested at 7%	$336,363
Monthly shortfalls ($34,616 total by yr 30) investedThe money you'd have put into the building while it lost money	$211,920
What you'd walk away with	$548,282
Building minus stocks	$489,579

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $279,920 of principal by year 30	$0
Plus rental profits, invested at 7%$389,259 of profit by year 30, before investment growth	$818,796
What you'd walk away with	$1,617,137
If you put the same money in stocks
Cash to close ($80,477) invested at 7%	$612,611
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	$612,611
Building minus stocks	$1,004,526

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $279,920 of principal by year 30	$0
Plus rental profits, invested at 7%$210,572 of profit by year 30, before investment growth	$367,990
What you'd walk away with	$1,166,332
If you put the same money in stocks
Cash to close ($80,477) invested at 7%	$612,611
Monthly shortfalls ($9,678 total by yr 30) investedThe money you'd have put into the building while it lost money	$62,416
What you'd walk away with	$675,027
Building minus stocks	$491,305

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $271,920 of principal by year 30	$0
Plus rental profits, invested at 7%$408,420 of profit by year 30, before investment growth	$879,127
What you'd walk away with	$1,654,652
If you put the same money in stocks
Cash to close ($78,177) invested at 7%	$595,103
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	$595,103
Building minus stocks	$1,059,549

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $271,920 of principal by year 30	$0
Plus rental profits, invested at 7%$226,314 of profit by year 30, before investment growth	$407,243
What you'd walk away with	$1,182,768
If you put the same money in stocks
Cash to close ($78,177) invested at 7%	$595,103
Monthly shortfalls ($6,258 total by yr 30) investedThe money you'd have put into the building while it lost money	$41,337
What you'd walk away with	$636,440
Building minus stocks	$546,328

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $262,425 of principal by year 30	$0
Plus rental profits, invested at 7%$431,161 of profit by year 30, before investment growth	$950,732
What you'd walk away with	$1,749,074
If you put the same money in stocks
Cash to close ($97,972) invested at 7%	$745,788
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	$745,788
Building minus stocks	$1,003,286

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$849,299
Minus 6% selling cost	−$50,958
Minus loan still owedTenants' rent paid down all $262,425 of principal by year 30	$0
Plus rental profits, invested at 7%$245,900 of profit by year 30, before investment growth	$458,652
What you'd walk away with	$1,256,993
If you put the same money in stocks
Cash to close ($97,972) invested at 7%	$745,788
Monthly shortfalls ($3,104 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,141
What you'd walk away with	$766,928
Building minus stocks	$490,065

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $254,925 of principal by year 30	$0
Plus rental profits, invested at 7%$449,124 of profit by year 30, before investment growth	$1,007,293
What you'd walk away with	$1,782,818
If you put the same money in stocks
Cash to close ($95,172) invested at 7%	$724,474
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	$724,474
Building minus stocks	$1,058,344

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$825,027
Minus 6% selling cost	−$49,502
Minus loan still owedTenants' rent paid down all $254,925 of principal by year 30	$0
Plus rental profits, invested at 7%$262,159 of profit by year 30, before investment growth	$503,819
What you'd walk away with	$1,279,344
If you put the same money in stocks
Cash to close ($95,172) invested at 7%	$724,474
Monthly shortfalls ($1,399 total by yr 30) investedThe money you'd have put into the building while it lost money	$9,747
What you'd walk away with	$734,221
Building minus stocks	$545,123

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 $1.62M, stocks $613K. 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 $1,100–$1,550 · 11 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
1631 E 4th St Apt 1, Duluth	$1,675	2 / 1	—	0.1 mi	—	Apartment
1301 E 3rd St, Duluth	$1,200	2 / 1	1,244	0.2 mi	2026-09-29	Apartment
1711 E 1st St, Duluth	$1,295	2 / 1	768	0.3 mi	2026-07-17	Apartment
1509 E Superior St, Duluth	$1,800	2 / 2	1,032	0.3 mi	2024-05-02	Apartment
1807 E 3rd St Apt 2, Duluth	$1,095	2 / 1	650	0.3 mi	—	Apartment
1807 E 3rd St Apt 9, Duluth	$1,195	2 / 1	708	0.3 mi	—	Apartment
1206 E 3rd St, Duluth	$1,000	2 / 1	609	0.3 mi	2026-05-29	Apartment
207 S 17th Ave E Unit 2, Duluth	$1,400	2 / 1	—	0.4 mi	2026-09-28	Apartment
918 922 E 5th St, Duluth	$1,300	2 / 1	1,600	0.5 mi	2026-07-02	Apartment
320 S 19th Ave E Apt B, Duluth	$1,075	2 / 1	—	0.6 mi	2026-09-21	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 1511 4TH ST E

Opportunities

Long time on market: room to negotiate. Based on: Listing data: 27 days on market, 2 price cuts

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.	$4,766
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$4,137
Water, sewer, trash / mo Estimateestimate. $85/unit/mo, owner-paid	$255
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 1905: +1 pt capital reserve	8% / 9%

Status history

2026-09-08Price cut at $349,900 (was $359,900) · from listing history
2026-06-08Price cut at $359,900 (was $369,900) · from listing history
2026-09-08New at $349,900

From the listing Listing

Listed as	triplex
Property tax, 2026	$4,766
County	St. Louis County
Parcel number	010-1480-08130

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.