Duplex with Two Residential
For Sale
$174,800
2005 7th Ave, Mankato, MN 56001
Two-unit residential property supports rental income or an owner-occupant arrangement near everyday amenities.
Property Size1,714 SF
Price / SF$101.98
Days on Market90
Property Features for 2005 7th Ave
General Information
Standard status
Active
Size
1,714 SF
Property subtype
Multi-Family
Building Details
Year Built
1881
Tenancy
Multi
Listing Agency:
Century 21 Atwood
Listed By:
Candee Deichman · License #40383097
(507) 327-5006
Source:
Bradadamrealty
Added: Jul 19
Changed: Oct 14
Last Checked: Oct 7 at 1:06PM
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 Century 21 Atwood
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Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,714 square feet and was built in 1881. The property offers functional living areas in each unit, with room for updates and improvements based on the buyer’s plans. Its two-unit configuration can accommodate rental operations or an owner-occupant arrangement.
The property is located in Mankato near shopping, dining, parks, and schools. The existing layout provides a practical foundation for continued residential income use, subject to the buyer’s renovation and operating strategy.
The property is located in Mankato near shopping, dining, parks, and schools. The existing layout provides a practical foundation for continued residential income use, subject to the buyer’s renovation and operating strategy.
Key Highlights
- Two‑unit duplex configuration
- 1,714 square feet of property size
- Built in 1881
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,135
Cap Rate
8.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,700
$282.7K
Cap Rate 7%
$201,929
$201.9K
Cap Rate 9%
$157,056
$157.1K
Market Conditions
NOI Build-Up for 1,714 SF
Gross rent
$21.6K $12.60/SF
− Vacancy
−$1.4K −$0.82/SF
EGI
$20.2K $11.78/SF
− OpEx
−$6.1K −$3.53/SF
NOI
$14.1K $8.25/SF
Area
Blue Earth County, MN
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,700
Cap Rate 7%
$201,929
Cap Rate 9%
$157,056
Alternative Uses
Best Use
Multifamily LT 5
$201.9K
$176.7K – $235.6K
NOI $14,135 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$187.2K
$163.8K – $218.5K
NOI $13,107 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$338.8K
$296.4K – $395.2K
NOI $23,713 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property supports rental income or an owner-occupant arrangement near everyday amenities.
Where is this duplex located?
The property is located at 2005 7th Ave Mankato, MN.
What is the asking price?
The asking price for this property is $174,800.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,714 square feet of property size; Built in 1881
