Duplex with Detached
For Sale
$265,000
Pending
3119-3121 10th Avenue N, Fargo, ND 58102
MULTI_FAMILY - Fargo, ND
Property Size2,440 SF
Lot Size0.19 Acres
Days on Market32
Property Features for 3119-3121 10th Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Basement, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 5
Parking features
Garage - Detached
Exterior features
Aluminum Siding
Subdivision
Stuart Hilleboe
High school
Fargo North
High school district
Fargo
Directions
East on 12th ave N from I-29
Standard status
Pending
APN
01126000310000
Size
2,440 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2887
Utilities
Heating system
Baseboard
Building Details
Year built
1975
Listing Agency:
eXp Realty (3788 FGO)
(701) 354-2725
Listed By:
Derek Brandenburg
(612) 751-9303
Added: Jul 14
Changed: Aug 3
Last Checked: Aug 14 at 10:06PM
MLS# 7108950
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 side-by-side duplex includes two separate units, each with three bedrooms and one bathroom, plus a detached garage stall. The property was built in 1975 and features aluminum siding and baseboard heating.
Unit 3119 is vacant and has been updated with new carpet, new paint, and newer appliances. Unit 3121 is occupied with a month-to-month tenant.
The lot size is 0.1874 acres, and the property size is 2,440 SF.
Unit 3119 is vacant and has been updated with new carpet, new paint, and newer appliances. Unit 3121 is occupied with a month-to-month tenant.
The lot size is 0.1874 acres, and the property size is 2,440 SF.
Key Highlights
- Side‑by‑side duplex with each unit featuring 3 bedrooms and 1 bathroom
- Unit 3119 vacant and updated with new carpet, paint, and newer appliances
- Unit 3121 occupied with a month‑to‑month tenant
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
$22,038
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
8.32%
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%
$440,760
$440.8K
Cap Rate 7%
$314,829
$314.8K
Cap Rate 9%
$244,867
$244.9K
Market Conditions
NOI Build-Up for 2,440 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
$33.7K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$31.5K $12.90/SF
− OpEx
−$9.4K −$3.87/SF
NOI
$22.0K $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%
$440,760
Cap Rate 7%
$314,829
Cap Rate 9%
$244,867
Alternative Uses
Best Use
Multifamily LT 5
$314.8K
$275.5K – $367.3K
NOI $22,038 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$288.2K
$252.2K – $336.3K
NOI $20,175 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$529.3K
$463.1K – $617.5K
NOI $37,051 @ 7.0% cap · market cap 13.98%
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
2,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
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 detached garage stalls, each unit offering three bedrooms and one bath.
Where is this duplex located?
The property is located at 3119-3121 10th Avenue N Fargo, ND.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Side‑by‑side duplex with each unit featuring 3 bedrooms and 1 bathroom; Unit 3119 vacant and updated with new carpet, paint, and newer appliances; Unit 3121 occupied with a month‑to‑month tenant
