409 N 51st Ave W

Cash flows

35 photos

Photos, via Realtor.com.

Asking price: $219,900
Monthly cash flow: $46
Estimated rent: $2,450/mo
Break-even price: $228,514

Adjust the numbers See the full breakdown

From the listing

Exceptional investment or owner-occupied opportunity in the heart of Spirit Valley! This solid up-and-down duplex offers a strong rental history, with each unit featuring 2 bedrooms and 1 bathroom. A recently acquired additional parcel provides expanded yard space and valuable potential for additional structures, adding to the property's appeal and outdoor enjoyment. Take in beautiful hillside views from the back decks and enjoy the availability of a 2-car garage. Major updates in 2017 include the roof, windows, doors, furnaces, electrical, and plumbing. Hot water heaters were replaced in 2019 and 2021. A current rental license is in place through 1/1/29, offering added convenience and peace of mind for the next owner. Situated near shopping, restaurants, and everyday amenities, this property offers an ideal combination of location, updates, income potential, and flexibility. Live in one unit while generating rental income from the other, or add this turnkey opportunity to your investment portfolio.

Description from Realtor.com, MLS #6127759. 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: $219,900
Cash to close: $50,577
Price per unit: $109,950
GRM: 7.5

Each month

Cash flow: $46/mo
Cash-on-cash: 1.1%
Cap rate: 6.6%
DSCR: 1.04×

Break-even

Price that breaks even: $228,514
Rent that breaks even: $2,390/mo

Long run

Year 30: property vs stocks: $1.01M vs $385K
Cash flow turns positive: year 1

Monthly

Monthly breakdown

Rent	$2,450
Vacancy (6%)	−$147
Collected	$2,303
Property tax Listing	−$234
Insurance Estimate	−$207
Water, sewer, trash Estimate	−$170
Lawn care ($120 × 6 mo ÷ 12)	−$60
Repairs (8% of rent)	−$196
Capital reserve (9% of rent)	−$220
Net operating income	$1,216
Mortgage (principal + interest)	−$1,170
Cash flow	$46
Principal paid down (equity, not cash)	$149

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	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $197,910 of principal by year 30	$0
Plus rental profits, invested at 7%$190,190 of profit by year 30, before investment growth	$353,945
What you'd walk away with	$855,674
If you put the same money in stocks
Cash to close ($28,587) invested at 7%	$217,612
Monthly shortfalls ($8,331 total by yr 30) investedThe money you'd have put into the building while it lost money	$54,591
What you'd walk away with	$272,202
Building minus stocks	$583,472

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $197,910 of principal by year 30	$0
Plus rental profits, invested at 7%$90,884 of profit by year 30, before investment growth	$140,195
What you'd walk away with	$641,924
If you put the same money in stocks
Cash to close ($28,587) invested at 7%	$217,612
Monthly shortfalls ($27,357 total by yr 30) investedThe money you'd have put into the building while it lost money	$163,249
What you'd walk away with	$380,860
Building minus stocks	$261,064

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $188,910 of principal by year 30	$0
Plus rental profits, invested at 7%$208,872 of profit by year 30, before investment growth	$403,291
What you'd walk away with	$882,204
If you put the same money in stocks
Cash to close ($27,287) invested at 7%	$207,716
Monthly shortfalls ($5,187 total by yr 30) investedThe money you'd have put into the building while it lost money	$34,324
What you'd walk away with	$242,039
Building minus stocks	$640,165

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $188,910 of principal by year 30	$0
Plus rental profits, invested at 7%$105,438 of profit by year 30, before investment growth	$170,377
What you'd walk away with	$649,291
If you put the same money in stocks
Cash to close ($27,287) invested at 7%	$207,716
Monthly shortfalls ($20,085 total by yr 30) investedThe money you'd have put into the building while it lost money	$123,818
What you'd walk away with	$331,534
Building minus stocks	$317,757

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $175,920 of principal by year 30	$0
Plus rental profits, invested at 7%$240,464 of profit by year 30, before investment growth	$503,462
What you'd walk away with	$1,005,191
If you put the same money in stocks
Cash to close ($50,577) invested at 7%	$385,005
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	$385,005
Building minus stocks	$620,186

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $175,920 of principal by year 30	$0
Plus rental profits, invested at 7%$128,742 of profit by year 30, before investment growth	$223,443
What you'd walk away with	$725,173
If you put the same money in stocks
Cash to close ($50,577) invested at 7%	$385,005
Monthly shortfalls ($6,609 total by yr 30) investedThe money you'd have put into the building while it lost money	$42,390
What you'd walk away with	$427,395
Building minus stocks	$297,778

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $167,920 of principal by year 30	$0
Plus rental profits, invested at 7%$259,625 of profit by year 30, before investment growth	$563,793
What you'd walk away with	$1,042,706
If you put the same money in stocks
Cash to close ($48,277) invested at 7%	$367,497
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	$367,497
Building minus stocks	$675,209

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $167,920 of principal by year 30	$0
Plus rental profits, invested at 7%$144,516 of profit by year 30, before investment growth	$262,877
What you'd walk away with	$741,790
If you put the same money in stocks
Cash to close ($48,277) invested at 7%	$367,497
Monthly shortfalls ($3,222 total by yr 30) investedThe money you'd have put into the building while it lost money	$21,492
What you'd walk away with	$388,989
Building minus stocks	$352,801

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $164,925 of principal by year 30	$0
Plus rental profits, invested at 7%$266,798 of profit by year 30, before investment growth	$586,379
What you'd walk away with	$1,088,109
If you put the same money in stocks
Cash to close ($61,572) invested at 7%	$468,702
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	$468,702
Building minus stocks	$619,407

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$533,755
Minus 6% selling cost	−$32,025
Minus loan still owedTenants' rent paid down all $164,925 of principal by year 30	$0
Plus rental profits, invested at 7%$150,733 of profit by year 30, before investment growth	$279,298
What you'd walk away with	$781,028
If you put the same money in stocks
Cash to close ($61,572) invested at 7%	$468,702
Monthly shortfalls ($2,266 total by yr 30) investedThe money you'd have put into the building while it lost money	$15,327
What you'd walk away with	$484,028
Building minus stocks	$297,000

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $157,425 of principal by year 30	$0
Plus rental profits, invested at 7%$284,762 of profit by year 30, before investment growth	$642,940
What you'd walk away with	$1,121,853
If you put the same money in stocks
Cash to close ($58,772) invested at 7%	$447,387
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	$447,387
Building minus stocks	$674,466

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$509,482
Minus 6% selling cost	−$30,569
Minus loan still owedTenants' rent paid down all $157,425 of principal by year 30	$0
Plus rental profits, invested at 7%$167,028 of profit by year 30, before investment growth	$324,722
What you'd walk away with	$803,636
If you put the same money in stocks
Cash to close ($58,772) invested at 7%	$447,387
Monthly shortfalls ($598 total by yr 30) investedThe money you'd have put into the building while it lost money	$4,190
What you'd walk away with	$451,578
Building minus stocks	$352,058

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 $385K. 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 $1,225/mo · range $1,125–$1,500 · 6 rentals within 2.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
5402 Ramsey St, Duluth	$1,950	2 / 2	1,174	0.2 mi	2025-01-03	Apartment
606 N 60th Ave W, Duluth	$1,300	2 / 1	1,120	0.6 mi	2026-06-16	Apartment
3015 Restormel St, Duluth	$775	2 / 1	850	1.8 mi	2026-09-03	Apartment
2821 Wicklow St, Duluth	$1,200	2 / 1	760	2.0 mi	2025-07-03	Apartment
2705 W 2nd St, Duluth	$1,195	2 / 1	685	2.0 mi	2026-09-09	Duplex triplex
313 N 21st Ave, West Duluth	$1,195	2 / 1	700	2.6 mi	2026-07-14	Duplex triplex

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 409 51ST AVE W 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.	$2,802
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,481
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 1909: +1 pt capital reserve	8% / 9%

Status history

2026-09-02New at $219,900

From the listing Listing

Listed as	duplex
Property tax, 2026	$2,802
County	St. Louis County
Parcel number	010-4530-03460, 010-4530-03450

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.