Four-Unit Apartment
For Sale
Under Contract
$269,900
2026 NW 4th St, Minot, ND 58703
MULTI-FAMILY, Minot, ND
Property Size3,024 SF
Price / SF$89.25
Days on Market47
Property Features for 2026 NW 4th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3B
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Appliances
Refrigerator, Range/Oven
Elementary school district
Minot #1
Middle school district
Minot #1
High school district
Minot #1
Subdivision
NW
Standard status
Active Under Contract
Size
3,024 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3396
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Amenities
coin-operated laundry
Building Details
Year built
1959
Number of units
4
Listing Agency:
Better Homes and Gardens Real Estate Watne Group
(701) 852-1156
Listed By:
MATT WATNE
(701) 852-5700
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 7 at 6:06AM
MLS# 261235
Copyright © 2026 Minot Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit property contains 3,024 square feet and was built in 1959. The unit mix includes three 2-bedroom residences and one 1-bedroom residence, supported by four bathrooms. A newer garage serves the property; the south garage is larger and includes an additional side room. Coin-operated laundry is also on site.
The property is located at 2026 NW 4th St in Minot, with dining and schools nearby and quick access to MAFB. Existing appliances include refrigerators and ranges/ovens. Heating is provided by hot water and natural gas. The property carries R3B zoning.
The property is located at 2026 NW 4th St in Minot, with dining and schools nearby and quick access to MAFB. Existing appliances include refrigerators and ranges/ovens. Heating is provided by hot water and natural gas. The property carries R3B zoning.
Key Highlights
- Four‑unit property with three 2‑bedroom units and one 1‑bedroom unit
- 3,024 square feet on a 0.07‑acre lot
- Built in 1959 with a newer garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,991
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$399,820
$399.8K
Cap Rate 7%
$285,586
$285.6K
Cap Rate 9%
$222,122
$222.1K
Market Conditions
NOI Build-Up for 3,024 SF
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.
Gross rent
$30.8K $10.20/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$28.6K $9.44/SF
− OpEx
−$8.6K −$2.83/SF
NOI
$20.0K $6.61/SF
Area
Ward County, ND
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$399,820
Cap Rate 7%
$285,586
Cap Rate 9%
$222,122
Alternative Uses
Best Use
Multifamily LT 5
$285.6K
$249.9K – $333.2K
NOI $19,991 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$262.9K
$230.0K – $306.7K
NOI $18,402 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$406.0K
$355.3K – $473.7K
NOI $28,421 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 58703, ND
23,341
Population
10,643
Households
2.2
Avg Household Size
31
Median Age
34%
College-Educated
95%
High-School Grad
156.2 sq mi
ZIP Area
149
Density / Sq Mi
$82,926
Median Household Income
$48,355
Median Earnings
$1,030
Median Rent
$254,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R3B-zoned income property with coin-operated laundry and a newer garage.
Where is this quadplex located?
The property is located at 2026 NW 4th St Minot, ND.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Four‑unit property with three 2‑bedroom units and one 1‑bedroom unit; 3,024 square feet on a 0.07‑acre lot; Built in 1959 with a newer garage
