Side-by-Side Duplex with
For Sale
$275,000
1013 9th St NE, Rochester, MN 55906
Two units include full basement access, on-site laundry, and a one-car garage.
Property Size1,400 SF
Price / SF$196.43
Days on Market24
Property Features for 1013 9th St NE
General Information
Standard status
Active
Size
1,400 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Amenities
on-site laundry
Building Details
Year Built
1954
Buildings
1
Listing Agency:
Infinity Real Estate
(507) 550-1052
Listed By:
Jonathan Espy
Source:
Searchhousesnow
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 31 at 7:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Infinity Real Estate
Investment Insights
Based on property information with market context.
Purpose-built side-by-side duplex with approximately 1,400 square feet and a 1954 construction date. The property includes one two-bedroom unit and one one-bedroom unit, with both units having access to the full basement and on-site laundry. A one-car garage is also included.
Located less than a block from Silver Lake Park and near Jefferson Elementary, the property offers established residential surroundings. Tenants pay utilities, while lawn care, snow removal, and garbage service remain the owner’s responsibility.
Located less than a block from Silver Lake Park and near Jefferson Elementary, the property offers established residential surroundings. Tenants pay utilities, while lawn care, snow removal, and garbage service remain the owner’s responsibility.
Key Highlights
- Purpose‑built side‑by‑side duplex, not a converted home
- Unit mix includes one 2‑bedroom unit and one 1‑bedroom unit
- Approximately 1,400 square feet; built in 1954
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
$15,082
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
5.48%
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%
$301,640
$301.6K
Cap Rate 7%
$215,457
$215.5K
Cap Rate 9%
$167,578
$167.6K
Market Conditions
NOI Build-Up for 1,400 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
$22.7K $16.20/SF
− Vacancy
−$1.1K −$0.81/SF
EGI
$21.5K $15.39/SF
− OpEx
−$6.5K −$4.62/SF
NOI
$15.1K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /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%
$301,640
Cap Rate 7%
$215,457
Cap Rate 9%
$167,578
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.5K – $251.4K
NOI $15,082 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$189.1K
$165.5K – $220.6K
NOI $13,236 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$539.2K
$471.8K – $629.1K
NOI $37,745 @ 7.0% cap · market cap 13.73%
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
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 55906, MN
19,559
Population
8,798
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
61.5 sq mi
ZIP Area
318
Density / Sq Mi
$104,146
Median Household Income
$54,380
Median Earnings
$1,152
Median Rent
$350,000
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 - Two units include full basement access, on-site laundry, and a one-car garage.
Where is this duplex located?
The property is located at 1013 9th St NE Rochester, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Purpose‑built side‑by‑side duplex, not a converted home; Unit mix includes one 2‑bedroom unit and one 1‑bedroom unit; Approximately 1,400 square feet; built in 1954
