Two-Story Duplex with Heated
For Sale
$599,900
4222 Kites Lane, Bismarck, ND 58503
Twin-home layout with open living areas, covered patio access, and finished garage improvements.
Property Size2,700 SF
Price / SF$222.19
Days on Market25
Property Features for 4222 Kites Lane
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
3
Property subtype
Commercial
Building Details
Stories
2
Listing Agency:
TRADEMARK REALTY
(701) 223-3030
Listed By:
Hunt Boustead · License #8264
Source:
Trademarknd
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 30 at 4:04AM
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 TRADEMARK REALTY
Investment Insights
Based on property information with market context.
This two-story duplex property at 4222 Kites Lane features more than 2,700 square feet of living space, with 4 bedrooms and 3 bathrooms. The main level combines an open living and dining arrangement with a kitchen equipped with custom cabinetry, quartz countertops, a walk-in pantry, and a large island. Soaring ceilings, an electric fireplace, large windows, and covered patio access shape the shared living areas. The primary suite includes a walk-in closet and a bathroom with dual vanities, a tiled shower, and a private water closet. A half bath and laundry room complete the main floor.
The upper level adds a loft, home office, three bedrooms with walk-in closets, and a finished guest bathroom. Additional improvements include a fully finished and heated three-stall garage with a floor drain and hot/cold water hookups. The property is located in Bismarck, ND 58503.
The upper level adds a loft, home office, three bedrooms with walk-in closets, and a finished guest bathroom. Additional improvements include a fully finished and heated three-stall garage with a floor drain and hot/cold water hookups. The property is located in Bismarck, ND 58503.
Key Highlights
- More than 2,700 square feet with 4 bedrooms and 3 bathrooms
- Open‑concept living, dining, and kitchen areas with soaring ceilings
- Custom cabinetry, quartz countertops, walk‑in pantry, and oversized island
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
$17,850
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
2.98%
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%
$357,000
$357.0K
Cap Rate 7%
$255,000
$255.0K
Cap Rate 9%
$198,333
$198.3K
Market Conditions
NOI Build-Up for 2,700 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
$27.5K $10.20/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$25.5K $9.44/SF
− OpEx
−$7.6K −$2.83/SF
NOI
$17.8K $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%
$357,000
Cap Rate 7%
$255,000
Cap Rate 9%
$198,333
Alternative Uses
Best Use
Multifamily LT 5
$255.0K
$223.1K – $297.5K
NOI $17,850 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$220.6K
$193.1K – $257.4K
NOI $15,444 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$642.5K
$562.2K – $749.6K
NOI $44,976 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
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 - Twin-home layout with open living areas, covered patio access, and finished garage improvements.
Where is this duplex located?
The property is located at 4222 Kites Lane Bismarck, ND.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: More than 2,700 square feet with 4 bedrooms and 3 bathrooms; Open‑concept living, dining, and kitchen areas with soaring ceilings; Custom cabinetry, quartz countertops, walk‑in pantry, and oversized island
