Occupied Duplex with Detached
New
For Sale
$339,900
1219 Center St W, Rochester, MN 55902
Two-unit residential property with leased occupancy, distinct unit features, and a detached garage near major Rochester destinations.
Property Size2,238 SF
Price / SF$151.88
Days on Market5
Property Features for 1219 Center St W
General Information
Standard status
Active
Size
2,238 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1918
Buildings
1
Stories
3
Listing Agency:
Keller Williams Premier Realty
Listed By:
Mike Wilson
(507) 424-4422
Source:
Homesminn
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 22 at 9:53PM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,238 square feet and is fully occupied under long-term lease agreements. The main-level residence features hardwood flooring and updated tile, while the upper unit includes a den and an additional bonus room on the third level. The lower level has been finished, adding usable interior space to the property. A detached two-car garage serves the building.
The property is in Rochester’s Kutzky Park area, within walking distance of St. Marys, Gonda, and downtown. Its two-unit configuration, existing occupancy, and varied interior spaces provide a clear residential income profile for an owner or investor seeking an established duplex asset.
The property is in Rochester’s Kutzky Park area, within walking distance of St. Marys, Gonda, and downtown. Its two-unit configuration, existing occupancy, and varied interior spaces provide a clear residential income profile for an owner or investor seeking an established duplex asset.
Key Highlights
- Fully occupied duplex with long‑term lease agreements
- 2,238 square feet of residential space
- Main unit includes hardwood floors and updated tile
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
$24,110
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
7.09%
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%
$482,200
$482.2K
Cap Rate 7%
$344,429
$344.4K
Cap Rate 9%
$267,889
$267.9K
Market Conditions
NOI Build-Up for 2,238 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
$36.3K $16.20/SF
− Vacancy
−$1.8K −$0.81/SF
EGI
$34.4K $15.39/SF
− OpEx
−$10.3K −$4.62/SF
NOI
$24.1K $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%
$482,200
Cap Rate 7%
$344,429
Cap Rate 9%
$267,889
Alternative Uses
Best Use
Multifamily LT 5
$344.4K
$301.4K – $401.8K
NOI $24,110 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$302.3K
$264.5K – $352.7K
NOI $21,159 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$862.0K
$754.2K – $1.01M
NOI $60,338 @ 7.0% cap · market cap 17.75%
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
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 55902, MN
25,878
Population
11,954
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
41.1 sq mi
ZIP Area
630
Density / Sq Mi
$111,879
Median Household Income
$68,869
Median Earnings
$1,580
Median Rent
$430,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with leased occupancy, distinct unit features, and a detached garage near major Rochester destinations.
Where is this duplex located?
The property is located at 1219 Center St W Rochester, MN.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Fully occupied duplex with long‑term lease agreements; 2,238 square feet of residential space; Main unit includes hardwood floors and updated tile
