Duplex With Separate
For Sale
$400,000
314 and 316 Pershing Ave N, New Prague, MN 56071
MULTI_FAMILY - New Prague, MN
Property Size2,534 SF
Lot Size0.30 Acres
Price / SF$157.85
Days on Market159
Property Features for 314 and 316 Pershing Ave N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Single Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 1, Basement, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 6
Parking features
Driveway, Garage - Detached
Exterior features
Vinyl
Lot features
Tree Coverage - Light
High school district
New Prague Area Schools
Directions
MN 13/19 which is Main Street to Pershing Ave N. Go North three blocks. The duplex will be on westide of road
Standard status
Active
APN
240830020
Size
2,534 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4261
Utilities
Heating system
Forced Air
Building Details
Year built
1956
Building materials
Frame
Listing Agency:
True Life Real Estate Solution
(952) 758-5030
Listed By:
Rodney D. Tietz
(952) 758-5030
Added: Mar 3
Changed: Aug 7
Last Checked: Aug 9 at 8:06AM
MLS# 7029762
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 duplex offers separate electric, gas, and water meters for each unit. Both units feature forced-air heating with AC. Exterior details include vinyl siding and frame construction, with shared common ground.
Unit 314 includes a 3-bedroom, 1-bath layout and a 2-car 20 x 22 detached garage with alley access. Unit 316 includes 3 bedrooms, 2 baths, and two family rooms, plus an 18 x 30 detached garage with driveway access. Each unit also has a patio with a privacy fence.
Built in 1956, the property includes a total of 2 garages and separate parking access for each side. A 24-hour notice is required to tour unit 316.
Unit 314 includes a 3-bedroom, 1-bath layout and a 2-car 20 x 22 detached garage with alley access. Unit 316 includes 3 bedrooms, 2 baths, and two family rooms, plus an 18 x 30 detached garage with driveway access. Each unit also has a patio with a privacy fence.
Built in 1956, the property includes a total of 2 garages and separate parking access for each side. A 24-hour notice is required to tour unit 316.
Key Highlights
- Separate electric, gas, and water meters for each unit
- Forced‑air heating with AC in both units
- Unit 314: 3 bed, 1 bath; 2‑car 20 x 22 detached garage with alley access
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
$34,006
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
8.50%
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%
$680,120
$680.1K
Cap Rate 7%
$485,800
$485.8K
Cap Rate 9%
$377,844
$377.8K
Market Conditions
NOI Build-Up for 2,534 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
$66.0K $26.04/SF
− Vacancy
−$4.2K −$1.64/SF
EGI
$61.8K $24.40/SF
− OpEx
−$27.8K −$10.98/SF
NOI
$34.0K $13.42/SF
Area
Scott County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$680,120
Cap Rate 7%
$485,800
Cap Rate 9%
$377,844
Alternative Uses
Best Use
Multifamily LT 5
$528.9K
$462.8K – $617.1K
NOI $37,024 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$485.8K
$425.1K – $566.8K
NOI $34,006 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$604.6K
$529.0K – $705.3K
NOI $42,319 @ 7.0% cap · market cap 10.58%
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
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 56071, MN
12,913
Population
4,773
Households
2.7
Avg Household Size
38
Median Age
33%
College-Educated
97%
High-School Grad
85.9 sq mi
ZIP Area
150
Density / Sq Mi
$109,672
Median Household Income
$54,600
Median Earnings
$1,183
Median Rent
$373,000
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 - Duplex with separate electric, gas, and water meters, forced-air heat with AC, and detached garages for each unit.
Where is this duplex located?
The property is located at 314 and 316 Pershing Ave N New Prague, MN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Separate electric, gas, and water meters for each unit; Forced‑air heating with AC in both units; Unit 314: 3 bed, 1 bath; 2‑car 20 x 22 detached garage with alley access
