Side-by-Side Duplex with
New
For Sale
$449,900
1319/1321 Washington, Bismarck, ND 58504
All-brick income property with two separate residences, private access, and attached parking improvements.
Property Size4,144 SF
Price / SF$108.57
Days on Market4
Property Features for 1319/1321 Washington
General Information
Standard status
Active
Size
4,144 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,800
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
Buildings
1
Construction
brick
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 5:59PM
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.
Built in 1979, this all-brick duplex contains two side-by-side residences with a combined 4,144 square feet. Each unit includes 4 bedrooms, 2 bathrooms, a laundry room, an attached two-stall garage, and an additional parking space. The layout provides separate living areas within a single multifamily property.
The property is located at 1319/1321 Washington in Bismarck, with access from a private driveway serving a cul-de-sac. The sale must close together with 1313/1315 S. Washington St. and 224/226 W. Reno Dr.
The property is located at 1319/1321 Washington in Bismarck, with access from a private driveway serving a cul-de-sac. The sale must close together with 1313/1315 S. Washington St. and 224/226 W. Reno Dr.
Key Highlights
- Two side‑by‑side duplex residences totaling 4,144 square feet
- Each unit includes 4 bedrooms, 2 bathrooms, and a laundry room
- Attached two‑stall garage serving each side
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
2
Residential units
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 separate residences, private access, and attached parking improvements.
Where is this duplex located?
The property is located at 1319/1321 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: Two side‑by‑side duplex residences totaling 4,144 square feet; Each unit includes 4 bedrooms, 2 bathrooms, and a laundry room; Attached two‑stall garage serving each side
