Building Details

Year Built 1900

Tenancy Multi

Listing Agency: Beycome Brokerage Realty LLC

Listed By: Steve Koleno · License #134784 Show Phone

Source: Chrisfritchteam

Added: Jul 20 Changed: Oct 12 Last Checked: Oct 16 at 11:29AM

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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 Beycome Brokerage Realty LLC

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Investment Insights

Based on property information with market context.

This up-and-down duplex in Mapleton, Minnesota, contains 2,040 square feet and was built in 1900. The lower apartment is the larger unit and includes two bedrooms, a walk-in closet, an updated kitchen with dishwasher and laundry, plus a bathroom with tiled shower. The upper apartment was remodeled in 2023 with a replacement kitchen, new flooring, and fresh paint, and it includes a private balcony.

Each apartment has its own driveway and central air conditioning. A second driveway was added in 2023, while the original dirt drive was converted to asphalt. Utilities are separately allocated between tenants, with water and trash shared. One water heater was replaced in 2025, and all three dormers received professional siding work that year. The property is located at 310 4th Ave SE in Mapleton, MN 56065.

Key Highlights

• 2,040‑square‑foot up/down duplex built in 1900
• Lower unit includes 2 bedrooms, walk‑in closet, dishwasher, laundry, and tiled shower
• Upper apartment remodeled in 2023 with new kitchen, flooring, and paint

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,823

Cap Rate

7.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,460 $336.5K

Cap Rate 7%

$240,329 $240.3K

Cap Rate 9%

$186,922 $186.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,040 SF

Gross rent

$25.7K $12.60/SF

− Vacancy

−$1.7K −$0.82/SF

EGI

$24.0K $11.78/SF

− OpEx

−$7.2K −$3.53/SF

NOI

$16.8K $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%

$336,460

Cap Rate 7%

$240,329

Cap Rate 9%

$186,922

Alternative Uses

Best Use

Multifamily LT 5

$240.3K

$210.3K – $280.4K (±1% cap)

NOI $16,823 @ 7.0% cap · market cap 7.48%

Second Best

Apartment 5plus

$222.9K

$195.0K – $260.0K (±1% cap)

NOI $15,600 @ 7.0% cap · market cap 6.94%

Theoretical Best

Office A

$403.2K

$352.8K – $470.4K (±1% cap)

NOI $28,223 @ 7.0% cap · market cap 12.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Grocery & Convenience Store Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

160

Businesses Nearby

Explore this area Business Placement

Demographics for 56065, MN

2,698

Population

1,107

Households

2.4

Avg Household Size

40

Median Age

27%

College-Educated

96%

High-School Grad

116.3 sq mi

ZIP Area

23

Density / Sq Mi

$91,587

Median Household Income

$48,047

Median Earnings

$780

Median Rent

$214,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two apartments offer separate driveways, central air conditioning, and distinct interior updates.

Where is this duplex located?

The property is located at 310 4th Ave SE Mapleton, MN.

What is the asking price?

The asking price for this property is $224,900.

What are key features of this property?

This property features: 2,040‑square‑foot up/down duplex built in 1900; Lower unit includes 2 bedrooms, walk‑in closet, dishwasher, laundry, and tiled shower; Upper apartment remodeled in 2023 with new kitchen, flooring, and paint