725 W 2nd St

19 photos

Photos, via Realtor.com.

Asking price: $225,000
Monthly cash flow: −$11
Estimated rent: $2,450/mo
Break-even price: $222,933

Adjust the numbers See the full breakdown

From the listing

Welcome to this beautifully located up/down duplex offering incredible harbor views. This property offers flexible living or investment potential right in the heart of Duluth. The property boasts a brand new roof and boiler. The main floor unit features 1 bedroom and 1 bath layout ideal for tenants seeking easy, one level living. The second floor unit impresses with 2 bedrooms, 1 bath, and a bonus loft space, great for home office, reading nook, or extra living area. The real show stopper?! Sweeping views of the harbor that make every day feel a little more scenic. Don't miss this Duluth duplex with stunning harbor views and solid rental history.

Description from Realtor.com, MLS #6128160. 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: $225,000
Cash to close: $51,750
Price per unit: $112,500
GRM: 7.7

Each month

Cash flow: −$11/mo
Cash-on-cash: −0.3%
Cap rate: 6.3%
DSCR: 0.99×

Break-even

Price that breaks even: $222,933
Rent that breaks even: $2,464/mo

Long run

Year 30: property vs stocks: $938K vs $395K
Cash flow turns positive: year 2

Monthly

Monthly breakdown

Rent	$2,450
Vacancy (6%)	−$147
Collected	$2,303
Property tax Listing	−$260
Insurance Estimate	−$209
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	$1,187
Mortgage (principal + interest)	−$1,198
Cash flow	−$11
Principal paid down (equity, not cash)	$152

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	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $202,500 of principal by year 30	$0
Plus rental profits, invested at 7%$164,090 of profit by year 30, before investment growth	$291,265
What you'd walk away with	$804,631
If you put the same money in stocks
Cash to close ($29,250) invested at 7%	$222,658
Monthly shortfalls ($11,763 total by yr 30) investedThe money you'd have put into the building while it lost money	$76,354
What you'd walk away with	$299,012
Building minus stocks	$505,619

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $202,500 of principal by year 30	$0
Plus rental profits, invested at 7%$70,871 of profit by year 30, before investment growth	$103,530
What you'd walk away with	$616,896
If you put the same money in stocks
Cash to close ($29,250) invested at 7%	$222,658
Monthly shortfalls ($36,875 total by yr 30) investedThe money you'd have put into the building while it lost money	$211,027
What you'd walk away with	$433,685
Building minus stocks	$183,211

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $193,500 of principal by year 30	$0
Plus rental profits, invested at 7%$182,446 of profit by year 30, before investment growth	$338,841
What you'd walk away with	$829,390
If you put the same money in stocks
Cash to close ($27,950) invested at 7%	$212,763
Monthly shortfalls ($8,293 total by yr 30) investedThe money you'd have put into the building while it lost money	$54,316
What you'd walk away with	$267,079
Building minus stocks	$562,311

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $193,500 of principal by year 30	$0
Plus rental profits, invested at 7%$83,857 of profit by year 30, before investment growth	$128,167
What you'd walk away with	$618,717
If you put the same money in stocks
Cash to close ($27,950) invested at 7%	$212,763
Monthly shortfalls ($28,036 total by yr 30) investedThe money you'd have put into the building while it lost money	$166,051
What you'd walk away with	$378,813
Building minus stocks	$239,904

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $180,000 of principal by year 30	$0
Plus rental profits, invested at 7%$212,424 of profit by year 30, before investment growth	$424,692
What you'd walk away with	$938,058
If you put the same money in stocks
Cash to close ($51,750) invested at 7%	$393,934
Monthly shortfalls ($132 total by yr 30) investedThe money you'd have put into the building while it lost money	$939
What you'd walk away with	$394,874
Building minus stocks	$543,184

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $180,000 of principal by year 30	$0
Plus rental profits, invested at 7%$105,767 of profit by year 30, before investment growth	$173,800
What you'd walk away with	$687,166
If you put the same money in stocks
Cash to close ($51,750) invested at 7%	$393,934
Monthly shortfalls ($11,807 total by yr 30) investedThe money you'd have put into the building while it lost money	$72,456
What you'd walk away with	$466,390
Building minus stocks	$220,776

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $172,000 of principal by year 30	$0
Plus rental profits, invested at 7%$231,452 of profit by year 30, before investment growth	$484,084
What you'd walk away with	$974,633
If you put the same money in stocks
Cash to close ($49,450) invested at 7%	$376,426
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	$376,426
Building minus stocks	$598,207

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $172,000 of principal by year 30	$0
Plus rental profits, invested at 7%$120,186 of profit by year 30, before investment growth	$206,734
What you'd walk away with	$697,284
If you put the same money in stocks
Cash to close ($49,450) invested at 7%	$376,426
Monthly shortfalls ($7,066 total by yr 30) investedThe money you'd have put into the building while it lost money	$45,058
What you'd walk away with	$421,484
Building minus stocks	$275,800

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $168,750 of principal by year 30	$0
Plus rental profits, invested at 7%$239,236 of profit by year 30, before investment growth	$508,593
What you'd walk away with	$1,021,959
If you put the same money in stocks
Cash to close ($63,000) invested at 7%	$479,572
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	$479,572
Building minus stocks	$542,387

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$546,134
Minus 6% selling cost	−$32,768
Minus loan still owedTenants' rent paid down all $168,750 of principal by year 30	$0
Plus rental profits, invested at 7%$126,414 of profit by year 30, before investment growth	$221,829
What you'd walk away with	$735,195
If you put the same money in stocks
Cash to close ($63,000) invested at 7%	$479,572
Monthly shortfalls ($5,509 total by yr 30) investedThe money you'd have put into the building while it lost money	$35,644
What you'd walk away with	$515,216
Building minus stocks	$219,979

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $161,250 of principal by year 30	$0
Plus rental profits, invested at 7%$257,199 of profit by year 30, before investment growth	$565,154
What you'd walk away with	$1,055,704
If you put the same money in stocks
Cash to close ($60,200) invested at 7%	$458,258
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	$458,258
Building minus stocks	$597,446

	Year 30
If you buy this building
Sale priceValue grows 3% a year from the price	$521,861
Minus 6% selling cost	−$31,312
Minus loan still owedTenants' rent paid down all $161,250 of principal by year 30	$0
Plus rental profits, invested at 7%$141,463 of profit by year 30, before investment growth	$260,164
What you'd walk away with	$750,714
If you put the same money in stocks
Cash to close ($60,200) invested at 7%	$458,258
Monthly shortfalls ($2,595 total by yr 30) investedThe money you'd have put into the building while it lost money	$17,418
What you'd walk away with	$475,676
Building minus stocks	$275,038

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 $938K, stocks $395K. 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.

1 bed estimate $1,225/mo · range $1,225–$1,500 · 7 rentals within 0.75 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
715 W 2nd St, Duluth	$1,055	1 / 1	492	0.0 mi	2026-09-05	Apartment
521 W 2nd St, Duluth	$1,260	1 / 1	648	0.2 mi	2025-02-28	Apartment
5 W 1st St Unit 2201, Duluth	$1,495	1 / 1	776	0.7 mi	—	Apartment
5 W 1st St Unit 2-207, Duluth	$1,250	1 / 1	589	0.7 mi	—	Apartment
1 W 4th St, Duluth	$1,500	1 / 1	—	0.7 mi	2026-02-12	Apartment
1 E 1st St Unit 1-501, Duluth	$1,400	1 / 1	601	0.7 mi	—	Apartment
1 E 1st St Unit 1-212, Duluth	$1,245	1 / 1	495	0.7 mi	—	Apartment

2 bed estimate $1,225/mo · range $1,200–$1,550 · 11 rentals within 1.5 mi

Address	Rent	Bd / Ba	Sq ft	Distance	Listed	Type
529 W 4th St # 2, Duluth	$1,225	2 / 1	750	0.2 mi	—	Apartment
327 W 4th St, Duluth	$1,200	2 / 1	803	0.4 mi	2026-08-12	Apartment
5 W 1st St Apt 312, Duluth	$1,745	2 / 1	—	0.7 mi	2025-06-18	Apartment
15 E 4th St Apt B, Duluth	$1,025	2 / 1	—	0.7 mi	—	Apartment
308 E 5th St, Duluth	$1,200	2 / 1	587	1.0 mi	2026-08-14	Apartment
313 N 21st Ave, West Duluth	$1,195	2 / 1	700	1.2 mi	2026-07-14	Duplex triplex
523 E 6th St, Duluth	$1,225	2 / 1	800	1.2 mi	2026-08-07	Apartment
611 E 6th St, Duluth	$1,275	2 / 1	100	1.3 mi	2026-06-12	Apartment
627 E 4th St, Duluth	$1,495	2 / 1	850	1.3 mi	2026-05-19	Apartment
330 E Palm St, Duluth	$2,427	2 / 2	1,081	1.4 mi	2024-04-12	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 725 2ND ST W

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.	$3,126
Insurance / yr Estimateestimate. from units, square feet and age; get a quote	$2,514
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 1894: +1 pt capital reserve	8% / 9%

Status history

2026-09-25New at $225,000

From the listing Listing

Listed as	duplex
Property tax, 2026	$3,126
County	St. Louis County
Parcel number	010-1240-00285

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.