Updated Two-Unit
For Sale
$449,900
49 91st Lane NE, Blaine, MN 55434
Residential Income, Blaine, MN
Property Size1,820 SF
Lot Size0.23 Acres
Price / SF$247.20
Days on Market38
Property Features for 49 91st Lane NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
Parking features
Driveway, Garage - Detached
Exterior features
Brick/Stone, Stucco
High school district
Anoka-Hennepin
Directions
University Ave, E on 91st Lane, Home is on the left
Standard status
Active
APN
313123220006
Size
1,820 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4262
Utilities
Heating system
Baseboard, Oil
Building Details
Year built
1961
Roof type
Shingle
Listing Agency:
Keller Williams Classic Realty · Keller Williams Realty
(763) 746-4900
Listed By:
Joel D. Friday · License #20538434
(763) 746-4900
Added: Jul 20
Changed: Aug 26
Last Checked: Aug 26 at 5:06PM
MLS# 7107807
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 two-unit residential property contains 1,820 square feet on a 0.23-acre lot. The up-and-down layout includes one three-bedroom residence and one two-bedroom residence, supported by a detached three-car garage and driveway parking. Exterior construction combines brick and stucco, with a shingle roof and a basement.
Built in 1961, the property has received updates to appliances, flooring, carpet, paint, lighting, plumbing fixtures, windows, and the boiler. Heating is provided by baseboard and oil systems. The property is located in Blaine, Minnesota, in a residential area surrounded by single-family homes and near schools, parks, trails, highways, shopping, dining, and Northtown Mall.
Built in 1961, the property has received updates to appliances, flooring, carpet, paint, lighting, plumbing fixtures, windows, and the boiler. Heating is provided by baseboard and oil systems. The property is located in Blaine, Minnesota, in a residential area surrounded by single-family homes and near schools, parks, trails, highways, shopping, dining, and Northtown Mall.
Key Highlights
- 1,820‑square‑foot duplex on a 0.23‑acre lot
- Three‑bedroom unit paired with a two‑bedroom unit
- Detached three‑car garage plus driveway parking
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
$22,541
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
5.01%
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%
$450,820
$450.8K
Cap Rate 7%
$322,014
$322.0K
Cap Rate 9%
$250,456
$250.5K
Market Conditions
NOI Build-Up for 1,820 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
$34.5K $18.96/SF
− Vacancy
−$2.3K −$1.27/SF
EGI
$32.2K $17.69/SF
− OpEx
−$9.7K −$5.31/SF
NOI
$22.5K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /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%
$450,820
Cap Rate 7%
$322,014
Cap Rate 9%
$250,456
Alternative Uses
Best Use
Multifamily LT 5
$322.0K
$281.8K – $375.7K
NOI $22,541 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$296.7K
$259.7K – $346.2K
NOI $20,772 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$505.5K
$442.4K – $589.8K
NOI $35,388 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 55434, MN
31,776
Population
12,221
Households
2.6
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
8.9 sq mi
ZIP Area
3,570
Density / Sq Mi
$88,163
Median Household Income
$45,682
Median Earnings
$1,703
Median Rent
$269,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down configuration with three-bedroom and two-bedroom residences, a detached three-car garage, and brick-and-stucco exterior construction.
Where is this duplex located?
The property is located at 49 91st Lane NE Blaine, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1,820‑square‑foot duplex on a 0.23‑acre lot; Three‑bedroom unit paired with a two‑bedroom unit; Detached three‑car garage plus driveway parking
