Updated Three-Level
For Sale
$595,000
333 W 2nd Street, Waconia, MN 55387
Flexible configuration includes a remodeled upper-level rental unit with separate kitchen, bath, and laundry.
Property Size3,816 SF
Days on Market244
Property Features for 333 W 2nd Street
General Information
Standard status
Active
Size
3,816 SF
Property subtype
Duplex
Amenities
Boiler
Age Over 8 Years, Asphalt
Building Details
Building Size
3,816 SF
Year Built
1900
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
COLDWELL BANKER REALTY
Source:
Kw
Added: Feb 13
Changed: Oct 15
Last Checked: Oct 14 at 10:11PM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
Built in 1900, this three-level duplex combines historic details with extensive updates. The remodeled upper-level rental unit offers two bedrooms, one bath, a kitchen, and laundry. The main floor includes two bedrooms, a formal dining room, living room, eat-in kitchen, and remodeled bathroom. A lower-level area adds two more bedrooms, a family room, kitchen, and full bath.
Hardwood floors, original woodwork, and high ceilings complement the interior. Exterior features include a front porch, custom window boxes, landscaped gardens, and a brick patio. The property also provides a spacious 528 sq. ft. garage and additional off-street parking. Located at 333 W 2nd Street in Waconia, the home is steps from downtown and the lake.
Hardwood floors, original woodwork, and high ceilings complement the interior. Exterior features include a front porch, custom window boxes, landscaped gardens, and a brick patio. The property also provides a spacious 528 sq. ft. garage and additional off-street parking. Located at 333 W 2nd Street in Waconia, the home is steps from downtown and the lake.
Key Highlights
- Remodeled upper‑level rental unit with 2 bedrooms, 1 bath, kitchen, and laundry
- Main level includes 2 bedrooms, formal dining room, living room, eat‑in kitchen, and remodeled bathroom
- Lower level provides 2 bedrooms, family room, kitchen, and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,210
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,024,200
$1.0M
Cap Rate 7%
$731,571
$731.6K
Cap Rate 9%
$569,000
$569.0K
Market Conditions
NOI Build-Up for 3,816 SF
Gross rent
$99.4K $26.04/SF
− Vacancy
−$6.3K −$1.64/SF
EGI
$93.1K $24.40/SF
− OpEx
−$41.9K −$10.98/SF
NOI
$51.2K $13.42/SF
Area
Carver County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,024,200
Cap Rate 7%
$731,571
Cap Rate 9%
$569,000
Alternative Uses
Best Use
Multifamily LT 5
$796.5K
$696.9K – $929.2K
NOI $55,754 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$731.6K
$640.1K – $853.5K
NOI $51,210 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$910.4K
$796.6K – $1.06M
NOI $63,729 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
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Business Placement
Demographics for 55387, MN
14,552
Population
5,711
Households
2.5
Avg Household Size
38
Median Age
49%
College-Educated
98%
High-School Grad
31.5 sq mi
ZIP Area
462
Density / Sq Mi
$109,279
Median Household Income
$62,716
Median Earnings
$1,306
Median Rent
$418,600
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 - Flexible configuration includes a remodeled upper-level rental unit with separate kitchen, bath, and laundry.
Where is this duplex located?
The property is located at 333 W 2nd Street Waconia, MN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Remodeled upper‑level rental unit with 2 bedrooms, 1 bath, kitchen, and laundry; Main level includes 2 bedrooms, formal dining room, living room, eat‑in kitchen, and remodeled bathroom; Lower level provides 2 bedrooms, family room, kitchen, and full bath
