4-Unit Multifamily
New
For Sale
$349,900
303 N Broad Street, Mankato, MN 56001
Residential Income, Mankato, MN
Property Size3,706 SF
Lot Size0.16 Acres
Price / SF$94.41
Days on Market2
Property Features for 303 N Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Laundry Room, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Basement
Subdivision
Mankato
Lot features
Corner Lot
High school district
Mankato
Directions
From Riverfront Drive, turn east onto Plum Street. Turn left onto N Broad Street. Property is located at 303 N Broad Street.
Standard status
Active
APN
R010907456013
Size
3,706 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5500
Utilities
Heating system
Oil
Amenities
on-site laundry
porches
Building Details
Year built
1885
Listing Agency:
Tracy Sells LLC
(507) 254-2602
Listed By:
Tracy Petersohn
(507) 722-2890
Added: Oct 14
Last Checked: Oct 15 at 4:06AM
MLS# 7160023
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.
This four-unit multifamily property contains 3,706 square feet on a 0.157-acre corner lot. The unit mix comprises one two-bedroom apartment and three one-bedroom apartments, with four full bathrooms. Each unit has a kitchen with an oven and refrigerator; the two-bedroom apartment also includes a dishwasher. Interior features include vaulted ceilings and hardwood and tile floors, with laundry facilities on site. Two porches and a one-car garage are additional property features. Built in 1885, the building is heated with oil.
Two of the four apartments are occupied. The property is located at 303 N Broad Street in Mankato, Minnesota.
Two of the four apartments are occupied. The property is located at 303 N Broad Street in Mankato, Minnesota.
Key Highlights
- Four apartments: one two‑bedroom unit and three one‑bedroom units
- 3,706 square feet on a 0.157‑acre corner lot
- Two of four units occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,562
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,240
$611.2K
Cap Rate 7%
$436,600
$436.6K
Cap Rate 9%
$339,578
$339.6K
Market Conditions
NOI Build-Up for 3,706 SF
Gross rent
$46.7K $12.60/SF
− Vacancy
−$3.0K −$0.82/SF
EGI
$43.7K $11.78/SF
− OpEx
−$13.1K −$3.53/SF
NOI
$30.6K $8.25/SF
Area
Blue Earth County, MN
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,240
Cap Rate 7%
$436,600
Cap Rate 9%
$339,578
Alternative Uses
Best Use
Multifamily LT 5
$436.6K
$382.0K – $509.4K
NOI $30,562 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.3K
NOI $28,340 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$732.5K
$640.9K – $854.6K
NOI $51,273 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two apartments are occupied, and all four have separate kitchens.
Where is this quadplex located?
The property is located at 303 N Broad Street Mankato, MN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four apartments: one two‑bedroom unit and three one‑bedroom units; 3,706 square feet on a 0.157‑acre corner lot; Two of four units occupied
