Triplex With Separate
For Sale
Under Contract
$220,000
1002 Valley St, Minot, ND 58701
MULTI-FAMILY, Minot, ND
Property Size1,969 SF
Lot Size0.12 Acres
Price / SF$111.73
Days on Market53
Property Features for 1002 Valley St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R1G
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 2
Exterior features
Fence
Fencing
Fenced
Appliances
Microwave, Refrigerator, Range/Oven, Washer and Dryer, Gas Cooktop
Elementary school district
Minot #1
Middle school district
Minot #1
High school district
Minot #1
Subdivision
SE
Standard status
Active Under Contract
Size
1,969 SF
Lot size
0.12 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
HECKERS SECOND ADDITION NORTH 1/2 LOT 11
Tax Annual Amount
1744
Legal Description
HECKERS SECOND ADDITION NORTH 1/2 LOT 11
Utilities
Heating system
Forced Air, Natural Gas
Amenities
fenced yard
Building Details
Year built
1941
Floors in Building
1
Number of units
3
Listing Agency:
Better Homes and Gardens Real Estate Watne Group
Listed By:
Carissa Hatfield
(701) 852-1156
Added: Sep 10
Changed: Oct 27
Last Checked: Nov 1 at 4:06AM
MLS# 261530
Copyright © 2026 Minot Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,969-square-foot triplex contains three separately accessed units. The upstairs primary residence includes two bedrooms and one bathroom, while the basement apartment and attached unit each offer one bedroom and one bathroom. Separate entrances provide functional separation among the units, and the property includes a fenced yard and three off-street parking spaces.
Built in 1941, the property is currently used for short-term rentals and can also support long-term rental use or an owner-occupant arrangement with additional units. Improvements include natural-gas forced-air heating, a microwave, refrigerator, range/oven, washer and dryer, and gas cooktop. The property is zoned R1G and located near downtown Minot, with restaurants, shopping, entertainment, and other area amenities nearby.
Built in 1941, the property is currently used for short-term rentals and can also support long-term rental use or an owner-occupant arrangement with additional units. Improvements include natural-gas forced-air heating, a microwave, refrigerator, range/oven, washer and dryer, and gas cooktop. The property is zoned R1G and located near downtown Minot, with restaurants, shopping, entertainment, and other area amenities nearby.
Key Highlights
- Three‑unit triplex with 2‑bedroom and 1‑bath main unit plus two 1‑bedroom, 1‑bath units
- 1,969 square feet on a 0.115‑acre lot
- Each unit has a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,017
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,340
$260.3K
Cap Rate 7%
$185,957
$186.0K
Cap Rate 9%
$144,633
$144.6K
Market Conditions
NOI Build-Up for 1,969 SF
Gross rent
$20.1K $10.20/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$18.6K $9.44/SF
− OpEx
−$5.6K −$2.83/SF
NOI
$13.0K $6.61/SF
Area
Ward County, ND
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,340
Cap Rate 7%
$185,957
Cap Rate 9%
$144,633
Alternative Uses
Best Use
Multifamily LT 5
$186.0K
$162.7K – $217.0K
NOI $13,017 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$171.2K
$149.8K – $199.7K
NOI $11,982 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$264.4K
$231.3K – $308.4K
NOI $18,505 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
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Business Placement
Demographics for 58701, ND
32,517
Population
16,267
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
95%
High-School Grad
235.6 sq mi
ZIP Area
138
Density / Sq Mi
$75,329
Median Household Income
$46,695
Median Earnings
$875
Median Rent
$270,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with flexible rental arrangements, a fenced yard, and off-street parking near downtown Minot.
Where is this triplex located?
The property is located at 1002 Valley St Minot, ND.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Three‑unit triplex with 2‑bedroom and 1‑bath main unit plus two 1‑bedroom, 1‑bath units; 1,969 square feet on a 0.115‑acre lot; Each unit has a separate entrance
