Up-and-Down Duplex with
For Sale
$209,000
210 E Thompson St, Mankato, MN 56001
Two-level income property with separate living areas, updated exterior components, storage sheds, and a mix of central and window cooling.
Property Size1,656 SF
Price / SF$126.21
Days on Market69
Property Features for 210 E Thompson St
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,042
Building Details
Buildings
1
Listing Agency:
MIDWEST REALTY
Listed By:
DICK NORLAND · License #00254762
(507) 625-6060
Source:
Exprealty
Added: Jul 20
Changed: Sep 12
Last Checked: Sep 24 at 4:46PM
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 MIDWEST REALTY
Investment Insights
Based on property information with market context.
This up-and-down duplex contains two separate residential units within a 1,656-square-foot property. The main-level unit offers three bedrooms, a full bathroom, maple flooring, a pantry, fresh paint, and central air. A fourth basement bedroom with an egress window expands the lower-level living area. The upper unit includes one bedroom, a stove, a refrigerator, and window air conditioning. The main floor is currently vacant.
Located at 210 E Thompson St in Mankato, the property includes two off-street parking spaces assigned to the main-level unit and two storage sheds. The building has a 100 Amp electrical service, shingles installed in fall 2023, and exterior updates that include siding, back steps, and multiple replacement windows completed in 2007.
Located at 210 E Thompson St in Mankato, the property includes two off-street parking spaces assigned to the main-level unit and two storage sheds. The building has a 100 Amp electrical service, shingles installed in fall 2023, and exterior updates that include siding, back steps, and multiple replacement windows completed in 2007.
Key Highlights
- 1,656‑square‑foot up‑and‑down duplex with a three‑bedroom main level and one‑bedroom upper unit
- Basement includes a fourth bedroom with an egress window
- Main‑level unit features fresh paint, maple floors, pantry, and central air
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
$13,657
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
6.53%
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%
$273,140
$273.1K
Cap Rate 7%
$195,100
$195.1K
Cap Rate 9%
$151,744
$151.7K
Market Conditions
NOI Build-Up for 1,656 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
$20.9K $12.60/SF
− Vacancy
−$1.4K −$0.82/SF
EGI
$19.5K $11.78/SF
− OpEx
−$5.9K −$3.53/SF
NOI
$13.7K $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 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%
$273,140
Cap Rate 7%
$195,100
Cap Rate 9%
$151,744
Alternative Uses
Best Use
Multifamily LT 5
$195.1K
$170.7K – $227.6K
NOI $13,657 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$180.9K
$158.3K – $211.1K
NOI $12,664 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$327.3K
$286.4K – $381.9K
NOI $22,911 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
560
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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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level income property with separate living areas, updated exterior components, storage sheds, and a mix of central and window cooling.
Where is this duplex located?
The property is located at 210 E Thompson St Mankato, MN.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 1,656‑square‑foot up‑and‑down duplex with a three‑bedroom main level and one‑bedroom upper unit; Basement includes a fourth bedroom with an egress window; Main‑level unit features fresh paint, maple floors, pantry, and central air
