Two-Unit Duplex with
For Sale
$255,000
1305 16 1/2 St S, Fargo, ND 58103
Two residential units provide distinct bedroom configurations with tenant-paid electric service.
Property Size2,112 SF
Price / SF$120.74
Days on Market75
Property Features for 1305 16 1/2 St S
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,082
Building Details
Buildings
1
Listing Agency:
eXp Realty (219 WF)
(218) 686-6496
Listed By:
John Hagen
(218) 686-6496
Source:
Exprealty
Added: Jun 17
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 eXp Realty (219 WF)
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex contains two residential units with distinct bedroom and bath layouts. The upper residence includes three bedrooms, one bathroom, and a backyard deck; it is currently vacant. The lower residence offers two bedrooms and one bathroom.
Located at 1305 16 1/2 St S in South Fargo, the property has an expense arrangement in which tenants pay their own electric service while the owner covers heat and gas. The combination of a vacant upper unit and an occupied lower-unit configuration supports both owner-occupancy and rental-use considerations, subject to the applicable terms and requirements.
Located at 1305 16 1/2 St S in South Fargo, the property has an expense arrangement in which tenants pay their own electric service while the owner covers heat and gas. The combination of a vacant upper unit and an occupied lower-unit configuration supports both owner-occupancy and rental-use considerations, subject to the applicable terms and requirements.
Key Highlights
- 2,112‑square‑foot duplex in South Fargo
- Upper unit includes 3 bedrooms and 1 bathroom
- Upper unit has a backyard deck and is currently vacant
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
$19,076
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
7.48%
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%
$381,520
$381.5K
Cap Rate 7%
$272,514
$272.5K
Cap Rate 9%
$211,956
$212.0K
Market Conditions
NOI Build-Up for 2,112 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
$29.1K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.3K $12.90/SF
− OpEx
−$8.2K −$3.87/SF
NOI
$19.1K $9.03/SF
Area
Fargo, ND
Vacancy
6.50%
Lease Rate
$13.80 /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%
$381,520
Cap Rate 7%
$272,514
Cap Rate 9%
$211,956
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.5K – $317.9K
NOI $19,076 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$458.1K
$400.9K – $534.5K
NOI $32,070 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 58103, ND
46,754
Population
25,241
Households
1.9
Avg Household Size
36
Median Age
37%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
4,066
Density / Sq Mi
$57,699
Median Household Income
$38,241
Median Earnings
$831
Median Rent
$239,200
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 provide distinct bedroom configurations with tenant-paid electric service.
Where is this duplex located?
The property is located at 1305 16 1/2 St S Fargo, ND.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 2,112‑square‑foot duplex in South Fargo; Upper unit includes 3 bedrooms and 1 bathroom; Upper unit has a backyard deck and is currently vacant
