Two-Unit
New
For Sale
$150,000
1535 2nd Street NE, Rochester, MN 55906
Separate units include a two-bedroom residence and an upper-level efficiency kitchen.
Property Size910 SF
Price / SF$164.84
Days on Market4
Property Features for 1535 2nd Street NE
General Information
Standard status
Active
Size
910 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Exit Realty Refined
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 9:24AM
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 Exit Realty Refined
Investment Insights
Based on property information with market context.
This duplex, built in 1950, is arranged as two distinct living units. The main-floor unit has two bedrooms and one full bathroom; upstairs, a one-bedroom unit includes an efficiency kitchen and a full bathroom. The property is offered as-is.
The home is on a quiet dead-end street near a bus stop and next to East Park. Its layout accommodates separate residential units, with a two-bedroom configuration on the main floor and a one-bedroom unit above.
The home is on a quiet dead-end street near a bus stop and next to East Park. Its layout accommodates separate residential units, with a two-bedroom configuration on the main floor and a one-bedroom unit above.
Key Highlights
- Two separate residential units
- Main‑floor unit has 2 bedrooms and 1 full bath
- Upper‑level unit has 1 bedroom, 1 full bath, and an efficiency kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,803
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$196,060
$196.1K
Cap Rate 7%
$140,043
$140.0K
Cap Rate 9%
$108,922
$108.9K
Market Conditions
NOI Build-Up for 910 SF
Gross rent
$14.7K $16.20/SF
− Vacancy
−$737 −$0.81/SF
EGI
$14.0K $15.39/SF
− OpEx
−$4.2K −$4.62/SF
NOI
$9.8K $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%
$196,060
Cap Rate 7%
$140,043
Cap Rate 9%
$108,922
Alternative Uses
Best Use
Multifamily LT 5
$140.0K
$122.5K – $163.4K
NOI $9,803 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$122.9K
$107.6K – $143.4K
NOI $8,604 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$350.5K
$306.7K – $408.9K
NOI $24,534 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 55906, MN
19,559
Population
8,798
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
61.5 sq mi
ZIP Area
318
Density / Sq Mi
$104,146
Median Household Income
$54,380
Median Earnings
$1,152
Median Rent
$350,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate units include a two-bedroom residence and an upper-level efficiency kitchen.
Where is this duplex located?
The property is located at 1535 2nd Street NE Rochester, MN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two separate residential units; Main‑floor unit has 2 bedrooms and 1 full bath; Upper‑level unit has 1 bedroom, 1 full bath, and an efficiency kitchen
