Triplex with Private
For Sale
Under Contract
$334,900
155 SW 4th, Perham, MN 56573
Residential Income, Perham, MN
Property Size2,412 SF
Lot Size0.26 Acres
Price / SF$138.85
Days on Market92
Property Features for 155 SW 4th
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Basement
Parking features
Garage - Attached, Garage - Detached
Lot features
Corner Lot
High school district
Perham-Dent
Directions
From Main Street. Behind United Community Bank in Perham
Standard status
Active Under Contract
APN
77000990686000
Size
2,412 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3532
Utilities
Heating system
Hot Water(Heating)
Amenities
private entrance
Building Details
Year built
1886
Building materials
Frame
Buildings
1
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Stephen Sweere
(612) 751-9303
Added: Jul 31
Changed: Oct 28
Last Checked: Oct 30 at 1:06PM
MLS# 7119012
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This frame triplex contains three apartments with a private entrance for each unit. The 2,412-square-foot building dates to 1886 and sits on a 0.26-acre parcel. Heating is provided by a hot water system, and parking features include attached and detached garages as well as off-street spaces.
At 155 SW 4th in downtown Perham, the property is within walking distance of local shops, restaurants, services, and employers. The combination of separate apartment entrances and on-site parking provides distinct access and parking for residents.
At 155 SW 4th in downtown Perham, the property is within walking distance of local shops, restaurants, services, and employers. The combination of separate apartment entrances and on-site parking provides distinct access and parking for residents.
Key Highlights
- Three‑unit apartment building with private entrances for each apartment
- 2,412 square feet on a 0.26‑acre parcel
- Built in 1886; frame construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,210
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,200
$404.2K
Cap Rate 7%
$288,714
$288.7K
Cap Rate 9%
$224,556
$224.6K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$30.4K $12.60/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$28.9K $11.97/SF
− OpEx
−$8.7K −$3.59/SF
NOI
$20.2K $8.38/SF
Area
Otter Tail County, MN
Vacancy
5.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,200
Cap Rate 7%
$288,714
Cap Rate 9%
$224,556
Alternative Uses
Best Use
Multifamily LT 5
$288.7K
$252.6K – $336.8K
NOI $20,210 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$267.1K
$233.7K – $311.7K
NOI $18,699 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$524.0K
$458.5K – $611.3K
NOI $36,678 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
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Business Placement
Demographics for 56573, MN
7,066
Population
3,632
Households
1.9
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
137.5 sq mi
ZIP Area
51
Density / Sq Mi
$68,080
Median Household Income
$44,945
Median Earnings
$805
Median Rent
$256,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - The three apartments have dedicated off-street parking and access to downtown shops, restaurants, services, and employers.
Where is this triplex located?
The property is located at 155 SW 4th Perham, MN.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Three‑unit apartment building with private entrances for each apartment; 2,412 square feet on a 0.26‑acre parcel; Built in 1886; frame construction
