Two-Story
103 Locust Street, Mankato, MN 56001
For Sale
New
$259,900
Residential Income, Mankato, MN
Property Size2,536 SF
Lot Size0.20 Acres
Price / SF$102.48
Days on Market3
Property Features for 103 Locust Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
in-unit washer and dryer
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
True Real Estate
Listed By:
Michelle Starkey
(507) 345-8783
Added: Nov 5
Changed: Nov 7
Last Checked: Nov 7 at 3:06PM
MLS# 7168204
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.
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Investment Insights
Based on property information with market context.
This frame duplex contains 2,536 square feet across an upper and lower residence. The upper apartment extends to a second level with sloped ceilings. A washer and dryer are provided in each unit, and the property includes basement space. Built in 1885, the building sits on a 0.2-acre lot and is offered with a second parcel.
Parking is available on the street and off it. A view toward downtown Mankato can be seen from the front walkway.
Parking is available on the street and off it. A view toward downtown Mankato can be seen from the front walkway.
Key Highlights
- Two‑unit, up‑and‑down layout with 2,536 square feet
- Each unit has its own washer and dryer
- Upper residence includes a second level with angled ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,914
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,280
$418.3K
Cap Rate 7%
$298,771
$298.8K
Cap Rate 9%
$232,378
$232.4K
Market Conditions
NOI Build-Up for 2,536 SF
Gross rent
$32.0K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$29.9K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$20.9K $8.25/SF
Area
Blue Earth County, MN
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,280
Cap Rate 7%
$298,771
Cap Rate 9%
$232,378
Alternative Uses
Best Use
Multifamily LT 5
$298.8K
$261.4K – $348.6K
NOI $20,914 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$277.0K
$242.4K – $323.2K
NOI $19,393 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$501.2K
$438.6K – $584.8K
NOI $35,086 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,482
Businesses Nearby
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Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own washer and dryer, with parking available both on and off the street.
Where is this duplex located?
The property is located at 103 Locust Street Mankato, MN.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit, up‑and‑down layout with 2,536 square feet; Each unit has its own washer and dryer; Upper residence includes a second level with angled ceilings
