Occupied Duplex with
For Sale
$455,000
11923-11931 Wintergreen Street NW, Coon Rapids, MN 55448
Residential Income, Coon Rapids, MN
Property Size2,016 SF
Lot Size0.56 Acres
Price / SF$225.69
Days on Market333
Property Features for 11923-11931 Wintergreen Street NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Single Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Basement, Bedroom 4
Parking features
Garage
Exterior features
Block, Vinyl
Subdivision
Sand Creek Woods 5th Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Medium
High school district
Anoka-Hennepin
Directions
121st Ave NW to Xeon St, South to 119th Lane, South on Wintergreen
Standard status
Active
APN
113124420115
Size
2,016 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4518
Utilities
Heating system
Forced Air
Building Details
Year built
1986
Building materials
Block, Frame
Roof type
Shingle
Listing Agency:
Bridge Realty, LLC
Listed By:
Mai Le
(952) 368-0021
Added: Oct 31, 2025
Changed: Sep 24
Last Checked: Sep 28 at 3:06AM
MLS# 6811877
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 duplex contains two occupied units within a 2,016-square-foot residential income property on 0.56 acres. Built in 1986, the property features block and frame construction, vinyl and block exterior materials, shingle roofing, forced-air heat, garage parking, and basement space. The room configuration includes four bedrooms and two bathrooms across the property.
The asset is identified by two PIDs and is located in Coon Rapids, Minnesota. Because both units have active renters, property access is arranged by appointment and unannounced visits are discouraged.
The asset is identified by two PIDs and is located in Coon Rapids, Minnesota. Because both units have active renters, property access is arranged by appointment and unannounced visits are discouraged.
Key Highlights
- Two occupied residential units
- 2,016 square feet on 0.56 acres
- Built in 1986 with block and frame construction
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
$24,969
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
5.49%
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%
$499,380
$499.4K
Cap Rate 7%
$356,700
$356.7K
Cap Rate 9%
$277,433
$277.4K
Market Conditions
NOI Build-Up for 2,016 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
$38.2K $18.96/SF
− Vacancy
−$2.6K −$1.27/SF
EGI
$35.7K $17.69/SF
− OpEx
−$10.7K −$5.31/SF
NOI
$25.0K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /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%
$499,380
Cap Rate 7%
$356,700
Cap Rate 9%
$277,433
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.2K
NOI $24,969 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$328.7K
$287.6K – $383.5K
NOI $23,009 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$560.0K
$490.0K – $653.3K
NOI $39,199 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 55448, MN
28,970
Population
10,847
Households
2.7
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
10.8 sq mi
ZIP Area
2,682
Density / Sq Mi
$95,610
Median Household Income
$48,539
Median Earnings
$1,706
Median Rent
$301,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 occupied residential units with garage parking and basement space.
Where is this duplex located?
The property is located at 11923-11931 Wintergreen Street NW Coon Rapids, MN.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Two occupied residential units; 2,016 square feet on 0.56 acres; Built in 1986 with block and frame construction
