Duplex with Separate
For Sale
$255,000
Pending
914-916 32nd Street N, Fargo, ND 58102
MULTI_FAMILY - Fargo, ND
Property Size2,016 SF
Lot Size0.17 Acres
Days on Market36
Property Features for 914-916 32nd Street N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 6, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 1, Bedroom 4, Bathroom 1
Exterior features
Vinyl
Subdivision
Stuart Hilleboe
High school district
Fargo
Directions
Take 12th Ave N (Exit 67) ? go east ? turn north on 32nd St N ? arrive at 914-916 32nd St N.
Standard status
Pending
APN
01126000580000
Size
2,016 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2897
Utilities
Heating system
Baseboard
Amenities
separate entrances
in unit laundry
off-street parking
Building Details
Year built
1977
Listing Agency:
eXp Realty (3788 FGO)
(701) 354-2725
Listed By:
Derek Brandenburg
(612) 751-9303
Added: Jul 10
Changed: Aug 6
Last Checked: Aug 14 at 10:06PM
MLS# 7105970
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 includes two sides designed for comfortable residential living. Each side offers three bedrooms and one bathroom, with functional layouts and separate entrances. In-unit laundry and off-street parking add to everyday convenience, and exterior finishes include vinyl.
The property was built in 1977 and sits on a 0.173-acre lot with a total reported size of 2,016 square feet. Baseboard heating is provided. Located in Fargo, North Dakota, the home is described as being close to NDSU campus.
The floor plan includes bedrooms and bathrooms plus a basement level, supporting flexible day-to-day use within each side of the duplex.
The property was built in 1977 and sits on a 0.173-acre lot with a total reported size of 2,016 square feet. Baseboard heating is provided. Located in Fargo, North Dakota, the home is described as being close to NDSU campus.
The floor plan includes bedrooms and bathrooms plus a basement level, supporting flexible day-to-day use within each side of the duplex.
Key Highlights
- Duplex layout with separate entrances for each side
- Each side offers three bedrooms and one bathroom
- In‑unit laundry and off‑street 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
$18,209
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
7.14%
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%
$364,180
$364.2K
Cap Rate 7%
$260,129
$260.1K
Cap Rate 9%
$202,322
$202.3K
Market Conditions
NOI Build-Up for 2,016 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
$27.8K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$26.0K $12.90/SF
− OpEx
−$7.8K −$3.87/SF
NOI
$18.2K $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%
$364,180
Cap Rate 7%
$260,129
Cap Rate 9%
$202,322
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,209 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$238.1K
$208.4K – $277.8K
NOI $16,669 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$437.3K
$382.7K – $510.2K
NOI $30,613 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
324
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 - Duplex near NDSU features separate entrances, in-unit laundry, and off-street parking across two three-bedroom units.
Where is this duplex located?
The property is located at 914-916 32nd Street N Fargo, ND.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Duplex layout with separate entrances for each side; Each side offers three bedrooms and one bathroom; In‑unit laundry and off‑street parking
