Side-by-Side Duplex with
New
For Sale
$449,900
1313/1315 Washington, Bismarck, ND 58504
All-brick income property with two matching residences, private driveway access, laundry rooms, and attached garages.
Property Size4,144 SF
Price / SF$108.57
Days on Market4
Property Features for 1313/1315 Washington
General Information
Standard status
Active
Size
4,144 SF
Total Parking Spaces
6
Property subtype
Duplex
Additional Details
Gross Income
$43,200
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,698
Amenities
laundry room
Garage: Garage Faces Front
Garage Spaces: 2
Style: Side By Side
8
4.00
4
Side By Side
Garage Faces Front
2
Building Details
Year Built
1979
Construction
brick
Tenancy
Multi
Listing Agency:
Realty One Group - Encore
Listed By:
PATRICK KOSKI · License #8121
(701) 471-1331
Source:
Clearwaterproperties
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 2 at 1:20PM
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 Realty One Group - Encore
Investment Insights
Based on property information with market context.
This 1979 all-brick duplex contains 4,144 SF and is arranged as two side-by-side residences. Each unit includes 4 bedrooms, 2 bathrooms, a laundry room, an attached two-stall garage, and an additional parking space. The configuration provides comparable layouts on both sides of the building, with garage access oriented toward the front.
The property is located at 1313/1315 Washington in Bismarck, North Dakota, near South Washington Street. A private driveway serves the building and ends in a cul-de-sac. Closing is required in conjunction with 1319/1321 S. Washington St. and 224/226 W. Reno Dr.
The property is located at 1313/1315 Washington in Bismarck, North Dakota, near South Washington Street. A private driveway serves the building and ends in a cul-de-sac. Closing is required in conjunction with 1319/1321 S. Washington St. and 224/226 W. Reno Dr.
Key Highlights
- 4,144 SF duplex built in 1979
- Two side‑by‑side residences with 4 bedrooms and 2 bathrooms per side
- Each unit includes a laundry room and attached two‑stall garage
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
$27,396
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
6.09%
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%
$547,920
$547.9K
Cap Rate 7%
$391,371
$391.4K
Cap Rate 9%
$304,400
$304.4K
Market Conditions
NOI Build-Up for 4,144 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
$42.3K $10.20/SF
− Vacancy
−$3.1K −$0.76/SF
EGI
$39.1K $9.44/SF
− OpEx
−$11.7K −$2.83/SF
NOI
$27.4K $6.61/SF
Area
Burleigh County, ND
Vacancy
7.41%
Lease Rate
$10.20 /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%
$547,920
Cap Rate 7%
$391,371
Cap Rate 9%
$304,400
Alternative Uses
Best Use
Multifamily LT 5
$391.4K
$342.5K – $456.6K
NOI $27,396 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$338.6K
$296.3K – $395.1K
NOI $23,704 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$986.1K
$862.9K – $1.15M
NOI $69,030 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 58504, ND
29,517
Population
12,479
Households
2.4
Avg Household Size
35
Median Age
31%
College-Educated
94%
High-School Grad
103.3 sq mi
ZIP Area
286
Density / Sq Mi
$78,671
Median Household Income
$45,817
Median Earnings
$940
Median Rent
$282,100
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 - All-brick income property with two matching residences, private driveway access, laundry rooms, and attached garages.
Where is this duplex located?
The property is located at 1313/1315 Washington Bismarck, ND.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 4,144 SF duplex built in 1979; Two side‑by‑side residences with 4 bedrooms and 2 bathrooms per side; Each unit includes a laundry room and attached two‑stall garage
