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2425 N 7th St, Bismarck, ND 58503
Leased duplex with renovated interiors, fenced yards, and separate split-level units.
Property Size3,984 SF
Price / SF$138.03
Days on Market162
Property Features for 2425 N 7th St
General Information
Standard status
Active
Size
3,984 SF
Property subtype
Multifamily
Zoning
R10
Occupancy
100%
Net Operating Income
$3,700
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
fenced backyards
storage shed
concrete pad
Building Details
Year Built
1972
Year Renovated
2025
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
CORE Real Estate Advisors
Listed By:
Shanda Morgan · License #ND 9989
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 30 at 4:44PM
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 CORE Real Estate Advisors
Investment Insights
Based on property information with market context.
This side-by-side split-level duplex contains 3,984 square feet and was built in 1972. The property offers 6 bedrooms and 4 bathrooms across both units, with 2 full bathrooms per side. Interior improvements include fresh paint, new carpet, vinyl flooring, and updated kitchens. Unit 2425 includes a 540-square-foot addition with a fireplace facade.
Exterior updates include Pella windows, sliding doors, a new roof, and updated garage doors. Insulation between the units has been upgraded, and professionally installed egress windows serve both sides. Each unit has a fenced backyard; one includes a storage shed, while the other has a concrete pad. Both units are leased. The property is zoned R10 in Bismarck, North Dakota, with owner expenses limited to garbage, sewer, and water.
Exterior updates include Pella windows, sliding doors, a new roof, and updated garage doors. Insulation between the units has been upgraded, and professionally installed egress windows serve both sides. Each unit has a fenced backyard; one includes a storage shed, while the other has a concrete pad. Both units are leased. The property is zoned R10 in Bismarck, North Dakota, with owner expenses limited to garbage, sewer, and water.
Key Highlights
- 3,984‑square‑foot duplex built in 1972
- 6 bedrooms and 4 bathrooms total, with 2 full baths per unit
- Unit 2425 includes a 540‑square‑foot addition
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
$26,338
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
4.79%
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%
$526,760
$526.8K
Cap Rate 7%
$376,257
$376.3K
Cap Rate 9%
$292,644
$292.6K
Market Conditions
NOI Build-Up for 3,984 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
$40.6K $10.20/SF
− Vacancy
−$3.0K −$0.76/SF
EGI
$37.6K $9.44/SF
− OpEx
−$11.3K −$2.83/SF
NOI
$26.3K $6.61/SF
Area
Burleigh County, ND
Vacancy
7.41%
Lease Rate
$10.20 /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%
$526,760
Cap Rate 7%
$376,257
Cap Rate 9%
$292,644
Alternative Uses
Best Use
Multifamily LT 5
$376.3K
$329.2K – $439.0K
NOI $26,338 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.8K
NOI $22,789 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$948.1K
$829.6K – $1.11M
NOI $66,364 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Leased duplex with renovated interiors, fenced yards, and separate split-level units.
Where is this duplex located?
The property is located at 2425 N 7th St Bismarck, ND.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 3,984‑square‑foot duplex built in 1972; 6 bedrooms and 4 bathrooms total, with 2 full baths per unit; Unit 2425 includes a 540‑square‑foot addition
