Side-by-Side
For Sale
$339,900
214 1st Avenue NW, New Prague, MN 56071
Residential Income, New Prague, MN
Property Size1,600 SF
Lot Size0.14 Acres
Price / SF$212.44
Days on Market54
Property Features for 214 1st Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Single Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Garage - Detached
Subdivision
Philipps Add
High school district
New Prague Area Schools
Directions
MAIN ST TO 1ST AVE NW, NORTH 2 BLOCKS
Standard status
Active
APN
240030340
Size
1,600 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3674
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1959
Buildings
1
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
Listed By:
Mark D. Reiland
(952) 226-7700
Added: Sep 1
Changed: Oct 24
Last Checked: Oct 24 at 2:06PM
MLS# 7136740
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 side-by-side duplex contains 1,600 square feet across two residences on a 0.14-acre lot. Each unit has its own entrance and main-level living space. Both basements are unfinished. The property was built in 1959 and has hot water heating.
A concrete driveway and detached two-car garage provide on-site parking. The property is in New Prague, Minnesota.
A concrete driveway and detached two-car garage provide on-site parking. The property is in New Prague, Minnesota.
Key Highlights
- Two residences with separate entrances and main‑level living
- 1,600 square feet on a 0.14‑acre lot
- Detached two‑car garage and concrete driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,377
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,540
$467.5K
Cap Rate 7%
$333,957
$334.0K
Cap Rate 9%
$259,744
$259.7K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$35.5K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$33.4K $20.87/SF
− OpEx
−$10.0K −$6.26/SF
NOI
$23.4K $14.61/SF
Area
Scott County, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,540
Cap Rate 7%
$333,957
Cap Rate 9%
$259,744
Alternative Uses
Best Use
Multifamily LT 5
$334.0K
$292.2K – $389.6K
NOI $23,377 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$306.7K
$268.4K – $357.9K
NOI $21,472 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$381.7K
$334.0K – $445.4K
NOI $26,721 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
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Business Placement
Demographics for 56071, MN
12,913
Population
4,773
Households
2.7
Avg Household Size
38
Median Age
33%
College-Educated
97%
High-School Grad
85.9 sq mi
ZIP Area
150
Density / Sq Mi
$109,672
Median Household Income
$54,600
Median Earnings
$1,183
Median Rent
$373,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences provide main-level living and their own entrances, with unfinished basements below.
Where is this duplex located?
The property is located at 214 1st Avenue NW New Prague, MN.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two residences with separate entrances and main‑level living; 1,600 square feet on a 0.14‑acre lot; Detached two‑car garage and concrete driveway
