Side-by-Side
For Sale
$330,000
Pending
231 Marvin Elwood Rd, Monticello, MN 55362
The single-level property has one occupied residence and a second that is currently vacant.
Property Size1,752 SF
Days on Market9
Property Features for 231 Marvin Elwood Rd
General Information
Standard status
Pending
Size
1,752 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,580
Amenities
deck
partially fenced back yard
shed
fire pit area
Building Details
Buildings
1
Stories
1
Listing Agency:
Edina Realty, Inc.
(763) 295-3456
Listed By:
Knutson/McAlpin Team
(612) 669-6324
Source:
Exprealty
Added: Oct 16
Changed: Oct 23
Last Checked: Oct 24 at 8:19PM
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 Edina Realty, Inc.
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Investment Insights
Based on property information with market context.
This side-by-side duplex is arranged on one level and sits on a corner lot. One residence is occupied, while the other is vacant. The vacant unit has a deck, a partially fenced rear yard, a shed, and a designated fire pit area. The occupied unit has a side deck and a backyard shed.
The property is located at 231 Marvin Elwood Rd in Monticello, Minnesota.
The property is located at 231 Marvin Elwood Rd in Monticello, Minnesota.
Key Highlights
- Side‑by‑side, single‑level duplex on a corner lot
- One residence occupied; the other is vacant
- Vacant unit includes a deck, partially fenced backyard, shed, and fire pit area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,598
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,960
$512.0K
Cap Rate 7%
$365,686
$365.7K
Cap Rate 9%
$284,422
$284.4K
Market Conditions
NOI Build-Up for 1,752 SF
Gross rent
$38.9K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$36.6K $20.87/SF
− OpEx
−$11.0K −$6.26/SF
NOI
$25.6K $14.61/SF
Area
Wright 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%
$511,960
Cap Rate 7%
$365,686
Cap Rate 9%
$284,422
Alternative Uses
Best Use
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,598 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$418.0K
$365.7K – $487.7K
NOI $29,259 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
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Business Placement
Demographics for 55362, MN
20,476
Population
7,589
Households
2.7
Avg Household Size
36
Median Age
26%
College-Educated
91%
High-School Grad
65.3 sq mi
ZIP Area
314
Density / Sq Mi
$92,870
Median Household Income
$48,029
Median Earnings
$1,458
Median Rent
$324,400
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 - The single-level property has one occupied residence and a second that is currently vacant.
Where is this duplex located?
The property is located at 231 Marvin Elwood Rd Monticello, MN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Side‑by‑side, single‑level duplex on a corner lot; One residence occupied; the other is vacant; Vacant unit includes a deck, partially fenced backyard, shed, and fire pit area
