Duplex with Finished Lower
For Sale
$384,000
2920 18 Avenue NW, Rochester, MN 55901
Multi-family residential zoning supports a duplex configuration with finished lower-level space.
Property Size2,560 SF
Price / SF$153.85
Days on Market149
Property Features for 2920 18 Avenue NW
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Residential Income
Zoning
Residential-Multi-Family
Net Operating Income
$17,490
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,172
Amenities
Natural Gas, Baseboard
Finished, Full, Daylight
Concrete
Building Details
Building Size
2,560 SF
Year Built
1977
Buildings
1
Listing Agency:
Goff Realty Group, Inc.
Listed By:
Ron Wightman
(507) 208-2246
Source:
Evrealestate
Added: May 28
Changed: Oct 20
Last Checked: Oct 20 at 8:48PM
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 Goff Realty Group, Inc.
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Investment Insights
Based on property information with market context.
This 2,496-square-foot duplex was built in 1977 and includes a finished, full daylight lower level. Heating is provided by natural gas and baseboard systems, and the exterior features concrete. The property is zoned Residential-Multi-Family.
Key Highlights
- 2,496‑square‑foot duplex
- Finished, full daylight lower level
- Natural gas and baseboard heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,889
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,780
$537.8K
Cap Rate 7%
$384,129
$384.1K
Cap Rate 9%
$298,767
$298.8K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$40.4K $16.20/SF
− Vacancy
−$2.0K −$0.81/SF
EGI
$38.4K $15.39/SF
− OpEx
−$11.5K −$4.62/SF
NOI
$26.9K $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%
$537,780
Cap Rate 7%
$384,129
Cap Rate 9%
$298,767
Alternative Uses
Best Use
Multifamily LT 5
$384.1K
$336.1K – $448.2K
NOI $26,889 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$337.1K
$295.0K – $393.3K
NOI $23,598 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$961.3K
$841.2K – $1.12M
NOI $67,294 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
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 - Multi-family residential zoning supports a duplex configuration with finished lower-level space.
Where is this duplex located?
The property is located at 2920 18 Avenue NW Rochester, MN.
What is the asking price?
The asking price for this property is $384,000.
What are key features of this property?
This property features: 2,496‑square‑foot duplex; Finished, full daylight lower level; Natural gas and baseboard heating
