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    Well-Maintained Duplex in New Rockford Title is generated by Realmo AI

    920 1st Ave N, New Rockford, ND 58356

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    For Sale
    $315,000

    Multi-Unit (2-4) - New Rockford, ND

    Property size:
    2,496 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $126/SF
    Added:
    Sep 19, 2025
    Days on Market:
    236
    Last Refresh:
    May 12 at 4:06 am

    Property Features for 920 1st Ave N

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    100
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Living Room
    Parking features
    Garage, Garage - Attached
    Appliances
    Dishwasher, Garbage Disposer, Microwave, Refrigerator, Washer
    Standard status
    Active
    Size
    2,496 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Natural Gas, Radiant
    Cooling system
    Central Air

    Building Details

    Year built
    2013
    Year renovated
    2013
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Sara Reese

    Listing agent Sara Reese

    Listing office Vorland Land Company PO Box 287, NEW ROCKFORD, ND

    Listing date Sep 19, 2025

    MLS# 11577725 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong income potential: Currently generates $1,700/month gross income.
    • Live in one unit, rent the other: Great for owner‑occupants to offset mortgage costs.
    • Prime location: Walking distance to downtown stores and restaurants.
    • Modern construction: Built in 2013, ensuring contemporary features and efficiency.
    • Comfort and efficiency: Enjoy in‑floor heat and central air for year‑round climate control.
    • Attached garages: Provides convenience and extra storage for each unit.

    Overview

    This well-maintained duplex, constructed in 2013, is suitable for investors or owner-occupiers looking to rent out one side. Each unit features 3 bedrooms, 1 bathroom, and a laundry room. The property includes in-floor heat and central air. Both units have attached garages and slab-on-grade construction. Modern kitchens are equipped with a stove, refrigerator, range hood with microwave, and dishwasher. The property is fully occupied and generates a gross monthly income of $1,700. Situated on a 0.24-acre lot, the 2,496 square foot property is located within walking distance to downtown stores and restaurants. The property is zoned 100. The duplex offers income potential and comfortable living.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Rockford
    County
    Eddy
    State
    North Dakota
    Longitude
    -99.140029
    Latitude
    47.679157

    Nearby Similar for Sale

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      4,000 SF

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      Adaptable commercial space with high visibility and redevelopment potential.
      120 South 1st St, New Rockford, ND 58356
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    • $1,095,716
      9,100 SF

      Freestanding Dollar General Investment Opportunity

      Absolute NNN Dollar General in New Rockford, North Dakota.
      381 1st St S, New Rockford, ND 58356
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    FAQs

    What type of property is this?
    Duplex - 2013 duplex with in-floor heat, central air, attached garages.
    Where is this duplex located?
    The property is located at 920 1st Ave N New Rockford, ND.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: Strong income potential: Currently generates $1,700/month gross income.; Live in one unit, rent the other: Great for owner‑occupants to offset mortgage costs.; Prime location: Walking distance to downtown stores and restaurants.
    (701) 789-1768
    We can help!
    Listing Contact
    Sara Reese
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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