Duplex with Private Entrances and Detached
For Sale
$399,000
2920 18 Avenue NW, Rochester, MN 55901
MULTI_FAMILY - Rochester, MN
Property Size2,496 SF
Lot Size0.19 Acres
Price / SF$159.86
Days on Market80
Property Features for 2920 18 Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Garage - Detached, Driveway
Exterior features
Fiber Board
Subdivision
Crescent Park 10th
Lot features
Public Transit (w/in 6 blks)
Elementary school
Elton Hills
Middle school
John Adams
High school
John Marshall
High school district
Rochester
Directions
Hwy 52. Take 37th St exit EAST. Right on 18th Ave NW. Duplex is on the left.
Standard status
Active
APN
742242004854
Size
2,496 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5172
Utilities
Heating system
Oil, Baseboard
Building Details
Year built
1977
Building materials
Frame
Roof type
Shingle
Listing Agency:
WightmanBrock Real Estate Advi
(507) 509-2879
Listed By:
Ron Wightman
(651) 274-0536
Added: May 28
Changed: Aug 1
Last Checked: Aug 15 at 3:06PM
MLS# 7080386
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.
Investment Insights
Based on property information with market context.
Duplex with private exterior entrances and a detached single-car garage space for each side. Built in 1977 and constructed with frame materials and fiber board exterior, the property totals 2,496 square feet on a 0.191-acre lot. Each side-by-side unit offers approximately 1,200 square feet and a functional two-level layout. The upper level includes the living room, dining area, and kitchen, while the lower level includes two bedrooms, a full bath, and in-unit laundry.
Utilities are separately metered so tenants pay all utilities directly. Heating is provided by oil and baseboard systems, and the roof is shingle. Parking includes a detached garage and driveway.
Located in the NW Crescent Park neighborhood of Rochester, MN, the property is on the bus line, supporting tenant convenience for everyday commutes.
Utilities are separately metered so tenants pay all utilities directly. Heating is provided by oil and baseboard systems, and the roof is shingle. Parking includes a detached garage and driveway.
Located in the NW Crescent Park neighborhood of Rochester, MN, the property is on the bus line, supporting tenant convenience for everyday commutes.
Key Highlights
- Built in 1977 duplex with private exterior entrances
- Approximately 1,200 SF per side and 2,496 SF total on 0.191 acres
- Separately metered utilities so tenants pay all utilities directly
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
$26,889
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
6.74%
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%
$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
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
$40.4K $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 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%
$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 6.74%
Second Best
Apartment 5plus
$337.1K
$295.0K – $393.3K
NOI $23,598 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$961.3K
$841.2K – $1.12M
NOI $67,294 @ 7.0% cap · market cap 16.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
278
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
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 - Original-owner duplex built in 1977 with private exterior entrances, separately metered utilities, and in-unit laundry.
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 $399,000.
What are key features of this property?
This property features: Built in 1977 duplex with private exterior entrances; Approximately 1,200 SF per side and 2,496 SF total on 0.191 acres; Separately metered utilities so tenants pay all utilities directly
