Up-Down Duplex with Stucco
For Sale
$225,000
119 Main Street E, Wabasha, MN 55981
MULTI_FAMILY - Wabasha, MN
Property Size1,510 SF
Lot Size0.10 Acres
Price / SF$149.01
Days on Market77
Property Features for 119 Main Street E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Basement, Bedroom 2, Bathroom 2
Parking features
Driveway
Exterior features
Stucco
High school district
Wabasha-Kellogg
Directions
Hwy 61 N, R on MN 60 E, continue straight on Pembroke, R on Main St E
Standard status
Active
APN
270020000
Size
1,510 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4348
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Roof type
Shingle
Listing Agency:
Jewson Realty
(651) 565-2618
Listed By:
Jay Jewson
(651) 565-2618
Added: Jun 4
Changed: Aug 3
Last Checked: Aug 19 at 7:06PM
MLS# 7086020
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.
Investment Insights
Based on property information with market context.
This two-unit up/down duplex at 119 Main Street E features a stucco exterior and a shingle roof. Built in 1910, the property totals 1,510 square feet and includes a basement. Heating is provided by forced air, and parking is available via a driveway. The home’s layout includes multiple bedrooms and two bathrooms across the two units, designed to support flexible living and leasing configurations.
Set in the heart of historic Wabasha, the property is positioned just steps from the area’s shops and restaurants and near the Mississippi riverfront. The setting supports day-to-day convenience for owner-occupants and tenants alike.
A recently replaced roof is noted, and the property is offered with available documentation for review, including financials and an inspection report on request.
Set in the heart of historic Wabasha, the property is positioned just steps from the area’s shops and restaurants and near the Mississippi riverfront. The setting supports day-to-day convenience for owner-occupants and tenants alike.
A recently replaced roof is noted, and the property is offered with available documentation for review, including financials and an inspection report on request.
Key Highlights
- Two‑unit up/down duplex
- 0.1‑acre lot
- 1,510 SF total building area
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
$12,652
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
5.62%
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%
$253,040
$253.0K
Cap Rate 7%
$180,743
$180.7K
Cap Rate 9%
$140,578
$140.6K
Market Conditions
NOI Build-Up for 1,510 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
$19.0K $12.60/SF
− Vacancy
−$951 −$0.63/SF
EGI
$18.1K $11.97/SF
− OpEx
−$5.4K −$3.59/SF
NOI
$12.7K $8.38/SF
Area
Wabasha County, MN
Vacancy
5.00%
Lease Rate
$12.60 /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%
$253,040
Cap Rate 7%
$180,743
Cap Rate 9%
$140,578
Alternative Uses
Best Use
Multifamily LT 5
$180.7K
$158.2K – $210.9K
NOI $12,652 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$168.1K
$147.1K – $196.1K
NOI $11,768 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$443.6K
$388.1K – $517.5K
NOI $31,050 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 55981, MN
3,998
Population
2,229
Households
1.8
Avg Household Size
55
Median Age
26%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
79
Density / Sq Mi
$69,195
Median Household Income
$42,211
Median Earnings
$773
Median Rent
$234,300
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-unit up/down duplex with forced-air heat, stucco exterior, driveway parking, and a recently replaced shingle roof.
Where is this duplex located?
The property is located at 119 Main Street E Wabasha, MN.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit up/down duplex; 0.1‑acre lot; 1,510 SF total building area
