Duplex with Vinyl
For Sale
$250,000
Pending
1305 16 1/2 Street S, Fargo, ND 58103
MULTI_FAMILY - Fargo, ND
Property Size2,112 SF
Lot Size0.17 Acres
Days on Market59
Property Features for 1305 16 1/2 Street S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4, Basement
Exterior features
Vinyl
Subdivision
Morton & Dotys
High school
Fargo South
High school district
Fargo
Directions
1305 16 1/2 St S, Fargo, ND
Standard status
Pending
APN
01204001560000
Size
2,112 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3082
Utilities
Heating system
Oil
Amenities
backyard deck
Building Details
Year built
1972
Roof type
Shingle
Listing Agency:
eXp Realty (219 WF)
(701) 540-5000
Listed By:
John Hagen
(612) 751-9303
Added: Jun 17
Changed: Aug 3
Last Checked: Aug 14 at 11:06PM
MLS# 7094116
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.
Duplex with vinyl exterior, built in 1972, offering two separate residential units. The upper unit is a three-bedroom, one-bath layout and includes a backyard deck; it is currently vacant. The lower unit is a two-bedroom, one-bath layout.
Operationally, tenants pay their own electric while the owner pays heat and gas. Heating is provided by oil heat, and the roof is shingled.
The property sits on a 0.172-acre lot and contains 2,112 square feet. It includes basement space, and the unit rooming supports multiple bedrooms and two bathrooms across the duplex.
Operationally, tenants pay their own electric while the owner pays heat and gas. Heating is provided by oil heat, and the roof is shingled.
The property sits on a 0.172-acre lot and contains 2,112 square feet. It includes basement space, and the unit rooming supports multiple bedrooms and two bathrooms across the duplex.
Key Highlights
- Upper unit: three bedrooms, one bath with backyard deck; currently vacant
- Lower unit: two bedrooms, one bath
- Tenants pay their own electric; owner pays heat and gas
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
$19,076
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
7.63%
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%
$381,520
$381.5K
Cap Rate 7%
$272,514
$272.5K
Cap Rate 9%
$211,956
$212.0K
Market Conditions
NOI Build-Up for 2,112 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
$29.1K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.3K $12.90/SF
− OpEx
−$8.2K −$3.87/SF
NOI
$19.1K $9.03/SF
Area
Fargo, ND
Vacancy
6.50%
Lease Rate
$13.80 /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%
$381,520
Cap Rate 7%
$272,514
Cap Rate 9%
$211,956
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.5K – $317.9K
NOI $19,076 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$458.1K
$400.9K – $534.5K
NOI $32,070 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
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 - Duplex in South Fargo with an upper three-bedroom unit and a lower two-bedroom unit, plus oil heat.
Where is this duplex located?
The property is located at 1305 16 1/2 Street S Fargo, ND.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Upper unit: three bedrooms, one bath with backyard deck; currently vacant; Lower unit: two bedrooms, one bath; Tenants pay their own electric; owner pays heat and gas
