Remodeled Duplex with Two-Car
For Sale
$158,000
Pending
114 8th Avenue, Minot, ND 58703
Remodeled duplex offers two 2-bedroom, 1-bath units with in-unit laundry and a two-car garage.
Property Size1,906 SF
Days on Market312
Property Features for 114 8th Avenue
General Information
Standard status
Pending
Size
1,906 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,938
Amenities
Window/Wall Unit
Finished, Full
3
Vinyl, Carpet
Cook Top Range, Refrigerator
Egress Window
Porch
2 Garage Spaces.
Stucco
Rectangular
irregular, 0.11999999731779099
Exterior Lighting. Rectangular.
Building Details
Year Built
1914
Stories
1
Tenancy
Multi
Listing Agency:
Century 21 Morrison Realty
(701) 240-2608
Listed By:
Ashleigh Collins
(701) 240-2608
Source:
Xome
Added: Oct 5, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:23AM
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 Century 21 Morrison Realty
Investment Insights
Based on property information with market context.
This remodeled duplex in Minot features two separate units. The main floor unit includes two bedrooms and one bathroom, with fresh paint, new flooring, and an updated kitchen. The layout also provides a large family room with built-in storage and space for a dining table.
The lower-level unit also offers two bedrooms and one bathroom, along with in-unit laundry. It includes fresh paint and new flooring.
A two-car garage is included, providing convenient parking and additional storage. The property is described as being located near Minot State University, local shops and restaurants, and a convenient bus route.
The lower-level unit also offers two bedrooms and one bathroom, along with in-unit laundry. It includes fresh paint and new flooring.
A two-car garage is included, providing convenient parking and additional storage. The property is described as being located near Minot State University, local shops and restaurants, and a convenient bus route.
Key Highlights
- Remodeled duplex built in 1914 with two units, each offering 2 bedrooms and 1 bathroom
- In‑unit laundry available for the lower‑level unit and egress window included on the guest facilities
- Each unit includes window/wall AC; flooring includes vinyl and carpet throughout
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
$12,600
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
7.97%
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%
$252,000
$252.0K
Cap Rate 7%
$180,000
$180.0K
Cap Rate 9%
$140,000
$140.0K
Market Conditions
NOI Build-Up for 1,906 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
$19.4K $10.20/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$18.0K $9.44/SF
− OpEx
−$5.4K −$2.83/SF
NOI
$12.6K $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 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%
$252,000
Cap Rate 7%
$180,000
Cap Rate 9%
$140,000
Alternative Uses
Best Use
Multifamily LT 5
$180.0K
$157.5K – $210.0K
NOI $12,600 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$165.7K
$145.0K – $193.3K
NOI $11,598 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$255.9K
$223.9K – $298.6K
NOI $17,913 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 58703, ND
23,341
Population
10,643
Households
2.2
Avg Household Size
31
Median Age
34%
College-Educated
95%
High-School Grad
156.2 sq mi
ZIP Area
149
Density / Sq Mi
$82,926
Median Household Income
$48,355
Median Earnings
$1,030
Median Rent
$254,800
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 - Remodeled duplex offers two 2-bedroom, 1-bath units with in-unit laundry and a two-car garage.
Where is this duplex located?
The property is located at 114 8th Avenue Minot, ND.
What is the asking price?
The asking price for this property is $158,000.
What are key features of this property?
This property features: Remodeled duplex built in 1914 with two units, each offering 2 bedrooms and 1 bathroom; In‑unit laundry available for the lower‑level unit and egress window included on the guest facilities; Each unit includes window/wall AC; flooring includes vinyl and carpet throughout
