Renovated Duplex with Leased
1402 Main Street Williston, ND 58801
New
For Sale
$645,000
Renovated duplex on a corner lot with both units currently leased and full systems replacements throughout.
Property Size2,770 SF
Price / SF$232.85
Days on Market5
Property Features for 1402 Main Street
General Information
- Standard status
- Active
- Size
- 2,770 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1920
Listing Agency:
Williston Basin Realty
(701) 770-0249
Listed By:
Tasheena Greaves · License #7795
Source:
Clearwaterproperties
Added: Jul 20
Changed: Jul 23
Last Checked: Jul 23 at 2:49PM
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 Williston Basin Realty
Investment Insights
Based on property information with market context.
This fully renovated duplex is positioned on a corner double lot and features two leased units. Interior and exterior work includes completely new electrical, HVAC, and plumbing, with the basement roughed in and ready to be completed as an additional unit. The property is described as permitted, code compliant, and ready for new ownership.
Tenants pay MDU Meter 1 and Meter 2, while the owner pays MDU Meter 3 for the basement and MDU Meter 4 for the garage and outdoor electrical. The owner also pays water, garbage, sewer, and trash removal.
Lease details include an existing term ending April 30, 2027, with automatic month-to-month renewal at the same terms unless a 60-day notice to vacate is provided. The W 2 garage stalls are leased by the tenants, while the owner maintains possession of the E 2 garage stalls and the basement. A 26' x 50' concrete driveway is planned to be installed by the owner.
Tenants pay MDU Meter 1 and Meter 2, while the owner pays MDU Meter 3 for the basement and MDU Meter 4 for the garage and outdoor electrical. The owner also pays water, garbage, sewer, and trash removal.
Lease details include an existing term ending April 30, 2027, with automatic month-to-month renewal at the same terms unless a 60-day notice to vacate is provided. The W 2 garage stalls are leased by the tenants, while the owner maintains possession of the E 2 garage stalls and the basement. A 26' x 50' concrete driveway is planned to be installed by the owner.
Key Highlights
- Renovated duplex on a corner double lot in Williston, ND, close to downtown, schools, and churches
- Two units currently leased at $2,600/month each; lease runs until April 30, 2027 with month‑to‑month renewal after
- Permitted full renovation inside and out with completely new electrical, HVAC, and plumbing; property is code compliant
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.3k | $10.20 |
| − Vacancy | −$831 | −$0.30 |
| EGI | $27.4k | $9.90 |
| − OpEx | −$8.2k | −$2.97 |
| NOI | $19.2k | $6.93 |
2,770 SF · lease $10.20/SF/yr · vacancy 2.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$274.2K
$240.0K – $319.9K
NOI $19,196 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$245.5K
$214.8K – $286.4K
NOI $17,184 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$610.9K
$534.5K – $712.7K
NOI $42,760 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Renovated duplex on a corner lot with both units currently leased and full systems replacements throughout.
Where is this duplex located?
The property is located at 1402 Main Street Williston, ND.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Renovated duplex on a corner double lot in Williston, ND, close to downtown, schools, and churches; Two units currently leased at $2,600/month each; lease runs until April 30, 2027 with month‑to‑month renewal after; Permitted full renovation inside and out with completely new electrical, HVAC, and plumbing; property is code compliant
