Building Details

Building Size 2,452 SF

Year Built 1941

Buildings 1

Stories 1

Listing Agency: RE/MAX Results

Listed By: Christopher Hus Show Phone

Source: Evrealestate

Added: Oct 7 Last Checked: Sep 30 at 11:48AM

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Investment Insights

Based on property information with market context.

This 1,572-square-foot duplex has two distinct living areas. The main-floor unit includes two bedrooms, hardwood flooring, an updated kitchen with maple cabinets, and a full bathroom with a tub and shower. Upstairs, the layout can accommodate two bedrooms or a bedroom and living room, alongside a compact kitchen and full bathroom. Hardwood floors, new bedroom carpet, and a tile-floored bathroom complete the upper unit.

Both units share the basement, which provides storage and houses the washer and dryer. Each unit has its own 100-amp electrical service panel. The property has a new roof dated 2026 and a furnace installed in 2021.

Key Highlights

• 1,572‑square‑foot duplex with two units
• Main‑floor unit has two bedrooms and hardwood floors
• Upper layout supports two bedrooms or one bedroom plus a living room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,935

Cap Rate

6.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,700 $338.7K

Cap Rate 7%

$241,929 $241.9K

Cap Rate 9%

$188,167 $188.2K

Market Conditions

NOI Build-Up for 1,572 SF

Gross rent

$25.5K $16.20/SF

− Vacancy

−$1.3K −$0.81/SF

EGI

$24.2K $15.39/SF

− OpEx

−$7.3K −$4.62/SF

NOI

$16.9K $10.77/SF

Area

Rochester, MN

Vacancy

5.00%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,700

Cap Rate 7%

$241,929

Cap Rate 9%

$188,167

Alternative Uses

Best Use

Multifamily LT 5

$241.9K

$211.7K – $282.3K (±1% cap)

NOI $16,935 @ 7.0% cap · market cap 6.86%

Second Best

Apartment 5plus

$212.3K

$185.8K – $247.7K (±1% cap)

NOI $14,862 @ 7.0% cap · market cap 6.02%

Theoretical Best

Office A

$605.5K

$529.8K – $706.4K (±1% cap)

NOI $42,382 @ 7.0% cap · market cap 17.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store HVAC Service Barber Shop Plumbing Service Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

826

Businesses Nearby

Explore this area Business Placement

Demographics for 55904, MN

29,813

Population

12,984

Households

2.3

Avg Household Size

35

Median Age

37%

College-Educated

93%

High-School Grad

60.1 sq mi

ZIP Area

496

Density / Sq Mi

$76,434

Median Household Income

$47,250

Median Earnings

$1,253

Median Rent

$237,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate 100-amp electrical panels serve the two units.

Where is this duplex located?

The property is located at 1033 3rd Avenue SE Rochester, MN.

What is the asking price?

The asking price for this property is $246,900.

What are key features of this property?

This property features: 1,572‑square‑foot duplex with two units; Main‑floor unit has two bedrooms and hardwood floors; Upper layout supports two bedrooms or one bedroom plus a living room