Well-Maintained Duplex with
For Sale
$379,900
Pending
1247 167th Avenue NE, Ham Lake, MN 55304
Residential Income, Ham Lake, MN
Property Size1,914 SF
Lot Size0.36 Acres
Days on Market48
Property Features for 1247 167th Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Basement, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Parking features
Garage, Garage - Attached, Open, Driveway
Exterior features
Brick/Stone, Fiber Board
Subdivision
Osborne Terrace
Lot features
Tree Coverage - Light
High school district
Anoka-Hennepin
Directions
Highway 65, Right on 167th Ave NE, Home on the Right
Standard status
Pending
APN
083223310008
Size
1,914 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3815
Utilities
Sewer type
Private Sewer
Heating system
Forced Air
Water source
Private, Well
Amenities
private deck
separate laundry
basement storage
Building Details
Year built
1964
Building materials
Block, Concrete
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Myrna L Bourcy · License #214074
(952) 829-2900
Added: Jul 24
Changed: Sep 1
Last Checked: Sep 9 at 12:06AM
MLS# 7111683
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 residential units within a 1,914-square-foot building on a 0.36-acre lot. Each unit includes a private tuck-under garage, deck, separate laundry, and basement storage. The property has forced-air heating, attached garage parking, driveway and open parking, and exterior finishes of brick/stone and fiber board. Built in 1964, the building has updated furnaces and newly installed premium stainless steel micro-mesh gutter guards. New decking boards are being installed on the 1247 side.
The property is located at 1247 167th Avenue NE in Ham Lake, within the Andover School District. It sits along a tree-lined residential street surrounded by single-family homes, with each unit responsible for its own lawn care and snow removal. The duplex may suit an owner-occupant or rental investor.
The property is located at 1247 167th Avenue NE in Ham Lake, within the Andover School District. It sits along a tree-lined residential street surrounded by single-family homes, with each unit responsible for its own lawn care and snow removal. The duplex may suit an owner-occupant or rental investor.
Key Highlights
- 1,914‑square‑foot duplex on a 0.36‑acre lot
- Built in 1964 with updated furnaces
- Each unit has a private tuck‑under garage, deck, separate laundry, and basement storage
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
$23,706
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
6.24%
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%
$474,120
$474.1K
Cap Rate 7%
$338,657
$338.7K
Cap Rate 9%
$263,400
$263.4K
Market Conditions
NOI Build-Up for 1,914 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 $18.96/SF
− Vacancy
−$2.4K −$1.27/SF
EGI
$33.9K $17.69/SF
− OpEx
−$10.2K −$5.31/SF
NOI
$23.7K $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%
$474,120
Cap Rate 7%
$338,657
Cap Rate 9%
$263,400
Alternative Uses
Best Use
Multifamily LT 5
$338.7K
$296.3K – $395.1K
NOI $23,706 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.1K
NOI $21,844 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$531.7K
$465.2K – $620.3K
NOI $37,216 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 55304, MN
49,128
Population
17,318
Households
2.8
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
68.6 sq mi
ZIP Area
716
Density / Sq Mi
$127,145
Median Household Income
$60,835
Median Earnings
$1,628
Median Rent
$402,600
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 residential units offer private decks, separate laundry, basement storage, and updated furnaces.
Where is this duplex located?
The property is located at 1247 167th Avenue NE Ham Lake, MN.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 1,914‑square‑foot duplex on a 0.36‑acre lot; Built in 1964 with updated furnaces; Each unit has a private tuck‑under garage, deck, separate laundry, and basement storage
