Building Details

Year Built 1980

Listing Agency: Berkshire Hathaway Homeservices Premier Properties

Listed By: The Elm Group brokered by REAL Show Phone

Source: Realelmgroup

Added: Oct 30 Changed: Oct 31 Last Checked: Oct 30 at 3:30PM

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Investment Insights

Based on property information with market context.

This 2,440-square-foot duplex in Casselton contains two separate residences: an upper unit with three bedrooms and a lower unit with two. Each has its own laundry and attached two-stall garage. The property was built in 1980.

The setting is next to Casselton Reservoir, with parks, paved paths, and a fishing pond nearby. The yard has no residences behind it.

Key Highlights

• 2,440‑square‑foot duplex built in 1980
• Upper residence has 3 bedrooms; lower residence has 2
• Each unit includes an attached 2‑stall garage and laundry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,038

Cap Rate

8.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,760 $440.8K

Cap Rate 7%

$314,829 $314.8K

Cap Rate 9%

$244,867 $244.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,440 SF

Gross rent

$33.7K $13.80/SF

− Vacancy

−$2.2K −$0.90/SF

EGI

$31.5K $12.90/SF

− OpEx

−$9.4K −$3.87/SF

NOI

$22.0K $9.03/SF

Area

Cass County, ND

Vacancy

6.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,760

Cap Rate 7%

$314,829

Cap Rate 9%

$244,867

Alternative Uses

Best Use

Multifamily LT 5

$314.8K

$275.5K – $367.3K (±1% cap)

NOI $22,038 @ 7.0% cap · market cap 8.82%

Second Best

Apartment 5plus

$288.2K

$252.2K – $336.3K (±1% cap)

NOI $20,175 @ 7.0% cap · market cap 8.07%

Theoretical Best

Specialty Retail

$450.8K

$394.5K – $526.0K (±1% cap)

NOI $31,557 @ 7.0% cap · market cap 12.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

179

Businesses Nearby

Explore this area Business Placement

Demographics for 58012, ND

2,636

Population

1,230

Households

2.1

Avg Household Size

37

Median Age

38%

College-Educated

96%

High-School Grad

73.3 sq mi

ZIP Area

36

Density / Sq Mi

$78,533

Median Household Income

$57,541

Median Earnings

$764

Median Rent

$307,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Both residences have private laundry facilities and an attached two-stall garage.

Where is this duplex located?

The property is located at 141 2nd St N Casselton, ND.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: 2,440‑square‑foot duplex built in 1980; Upper residence has 3 bedrooms; lower residence has 2; Each unit includes an attached 2‑stall garage and laundry