Duplex With Detached
For Sale
$315,000
2311 18 1/2 Avenue NW, Rochester, MN 55901
Separate utility service gives each residence control over its own usage and expenses.
Property Size1,556 SF
Price / SF$202.44
Days on Market15
Property Features for 2311 18 1/2 Avenue NW
General Information
Standard status
Active
Size
1,556 SF
Property subtype
Duplex Up and Down
Site & Location
Neighborhood
Elton Hills
Units
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Amenities
detached garage
Building Details
Year Built
1964
Listing Agency:
Edina Realty Rochester
(507) 288-7665
Listed By:
Justin Schwirtz
(507) 271-0699
Source:
Obviousrealestate
Added: Oct 16
Changed: Oct 30
Last Checked: Oct 30 at 1:52AM
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 Rochester
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Investment Insights
Based on property information with market context.
Built in 1964, this duplex contains 4 bedrooms and 2 full bathrooms across 1,566 finished square feet. Separate utilities let residents manage usage and expenses independently. A detached garage provides additional parking and storage.
The property is located at 2311 18 1/2 Avenue NW in Rochester, Minnesota.
The property is located at 2311 18 1/2 Avenue NW in Rochester, Minnesota.
Key Highlights
- Duplex with 4 bedrooms and 2 full bathrooms
- 1,566 finished square feet
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,763
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,260
$335.3K
Cap Rate 7%
$239,471
$239.5K
Cap Rate 9%
$186,256
$186.3K
Market Conditions
NOI Build-Up for 1,556 SF
Gross rent
$25.2K $16.20/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$23.9K $15.39/SF
− OpEx
−$7.2K −$4.62/SF
NOI
$16.8K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,260
Cap Rate 7%
$239,471
Cap Rate 9%
$186,256
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.5K – $279.4K
NOI $16,763 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$210.2K
$183.9K – $245.2K
NOI $14,711 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$599.3K
$524.4K – $699.2K
NOI $41,951 @ 7.0% cap · market cap 13.32%
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
316
Businesses Nearby
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Business Placement
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
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 - Separate utility service gives each residence control over its own usage and expenses.
Where is this duplex located?
The property is located at 2311 18 1/2 Avenue NW Rochester, MN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 2 full bathrooms; 1,566 finished square feet; Separate utilities for each unit
