Purpose-Built Side-by-Side
For Sale
$275,000
1013 9th Street NE, Rochester, MN 55906
MULTI_FAMILY - Rochester, MN
Property Size1,400 SF
Lot Size0.14 Acres
Price / SF$196.43
Days on Market48
Property Features for 1013 9th Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Basement
Parking features
Garage - Detached
Exterior features
Vinyl
Subdivision
Silver Lake Sub
Elementary school
Jefferson
Middle school
Kellogg
High school
Century
High school district
Rochester
Directions
From 11th Ave NE, turn west on 9th St NE, home on right
Standard status
Active
APN
743621021432
Size
1,400 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4184
Utilities
Heating system
Forced Air
Amenities
on-site laundry
Building Details
Year built
1954
Listing Agency:
Infinity Real Estate
(507) 550-1052
Listed By:
Jonathan Espy
(507) 273-2261
Added: Jun 29
Changed: Aug 15
Last Checked: Aug 15 at 4:06PM
MLS# 7098404
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This purpose-built side-by-side duplex includes two units: a two-bedroom unit and a one-bedroom unit. Both units have access to the full basement, where onsite laundry is available. Utilities are paid by the tenants except lawn, snow, and garbage, helping support a low-touch operating setup.
Additional exterior features include vinyl siding, and the property has forced-air heating. Parking is provided via a detached one-car garage.
Built in 1954 on a 0.137-acre lot, this duplex is designed for straightforward occupancy and maintenance continuity, with each unit having its own layout while sharing basement access and laundry space.
Additional exterior features include vinyl siding, and the property has forced-air heating. Parking is provided via a detached one-car garage.
Built in 1954 on a 0.137-acre lot, this duplex is designed for straightforward occupancy and maintenance continuity, with each unit having its own layout while sharing basement access and laundry space.
Key Highlights
- 0.137‑acre lot
- Two‑bedroom unit and one‑bedroom unit in a side‑by‑side duplex
- Both units have access to the full basement with onsite laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,082
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,640
$301.6K
Cap Rate 7%
$215,457
$215.5K
Cap Rate 9%
$167,578
$167.6K
Market Conditions
NOI Build-Up for 1,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.7K $16.20/SF
− Vacancy
−$1.1K −$0.81/SF
EGI
$21.5K $15.39/SF
− OpEx
−$6.5K −$4.62/SF
NOI
$15.1K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$301,640
Cap Rate 7%
$215,457
Cap Rate 9%
$167,578
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.5K – $251.4K
NOI $15,082 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$189.1K
$165.5K – $220.6K
NOI $13,236 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$539.2K
$471.8K – $629.1K
NOI $37,745 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 55906, MN
19,559
Population
8,798
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
61.5 sq mi
ZIP Area
318
Density / Sq Mi
$104,146
Median Household Income
$54,380
Median Earnings
$1,152
Median Rent
$350,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with two-bedroom and one-bedroom units, shared full basement access, and onsite laundry.
Where is this duplex located?
The property is located at 1013 9th Street NE Rochester, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 0.137‑acre lot; Two‑bedroom unit and one‑bedroom unit in a side‑by‑side duplex; Both units have access to the full basement with onsite laundry
