Multifamily Property with Two
For Sale
$278,900
Pending
2101 SW 2nd Ave, Minot, ND 58701
MULTI-FAMILY, Minot, ND
Property Size3,202 SF
Days on Market49
Property Features for 2101 SW 2nd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3B
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 2, Bathroom 3
Appliances
Microwave, Dishwasher, Refrigerator, Range/Oven
Elementary school district
Minot #1
Middle school district
Minot #1
High school district
Minot #1
Directions
Several blocks west of Arrowhead.
Subdivision
SW
Standard status
Pending
Size
3,202 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Westfield Addition Lot 13, Block 4
Tax Annual Amount
4068
Legal Description
Westfield Addition Lot 13, Block 4
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Building Details
Year built
1963
Floors in Building
2
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: Aug 27
Changed: Sep 14
Last Checked: Oct 14 at 7:06PM
MLS# 261446
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 multifamily property comprises two buildings totaling 3202 square feet. The room layout includes 8 bedrooms and 4 bathrooms, with kitchens equipped with microwaves, dishwashers, refrigerators, and ranges or ovens. Heating is provided by hot-water systems using natural gas. Constructed in 1963, the property has R3B zoning.
Both buildings received new Class IV shingles in August of 2026. The property experienced flooding in 2011 and was restored in 2012. It is located at 2101 SW 2nd Ave in Minot, North Dakota, within Ward County and postal code 58701.
Both buildings received new Class IV shingles in August of 2026. The property experienced flooding in 2011 and was restored in 2012. It is located at 2101 SW 2nd Ave in Minot, North Dakota, within Ward County and postal code 58701.
Key Highlights
- 3202‑square‑foot multifamily property across two buildings
- 8 bedrooms and 4 bathrooms
- R3B zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,485
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,700
$389.7K
Cap Rate 7%
$278,357
$278.4K
Cap Rate 9%
$216,500
$216.5K
Market Conditions
NOI Build-Up for 3,202 SF
Gross rent
$38.4K $12.00/SF
− Vacancy
−$3.0K −$0.94/SF
EGI
$35.4K $11.06/SF
− OpEx
−$15.9K −$4.98/SF
NOI
$19.5K $6.09/SF
Area
Ward County, ND
Vacancy
7.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,700
Cap Rate 7%
$278,357
Cap Rate 9%
$216,500
Alternative Uses
Best Use
Apartment 5plus
$278.4K
$243.6K – $324.8K
NOI $19,485 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$429.9K
$376.2K – $501.6K
NOI $30,094 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 58701, ND
32,517
Population
16,267
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
95%
High-School Grad
235.6 sq mi
ZIP Area
138
Density / Sq Mi
$75,329
Median Household Income
$46,695
Median Earnings
$875
Median Rent
$270,200
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?
Multifamily property - The property offers residential space with natural gas hot-water heating, kitchen appliances, and R3B zoning.
Where is this multifamily property located?
The property is located at 2101 SW 2nd Ave Minot, ND.
What is the asking price?
The asking price for this property is $278,900.
What are key features of this property?
This property features: 3202‑square‑foot multifamily property across two buildings; 8 bedrooms and 4 bathrooms; R3B zoning
