Duplex with Wraparound
403 8 1/2 Avenue NW, Rochester, MN 55901
For Sale
$364,000
Two separate utility meters serve the units, with shared laundry located on the lower level.
Property Size2,250 SF
Price / SF$161.78
Days on Market54
Property Features for 403 8 1/2 Avenue NW
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
community laundry
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Edina Realty Rochester
(507) 288-7665
Listed By:
Ann Doring-Archer
(507) 254-2644
Source:
Obviousrealestate
Added: Sep 17
Changed: Nov 9
Last Checked: Nov 9 at 3:35PM
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 Edina Realty Rochester
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Investment Insights
Based on property information with market context.
This 2,250-square-foot duplex, built in 1968, has two units with distinct layouts. The upper unit offers three bedrooms, a full bath, a living room with wood plank floors, a dining room, a kitchen and a wraparound deck. The lower unit includes two bedrooms, a full bath, new plank flooring and a patio. A drain tile system and sump pump are also present in the lower level.
Each unit has a separate electric meter. Residents share a community laundry area on the lower level; the owner pays for gas and rubbish service. The roof is four years old.
Each unit has a separate electric meter. Residents share a community laundry area on the lower level; the owner pays for gas and rubbish service. The roof is four years old.
Key Highlights
- Two units: one with 3 bedrooms and one with 2 bedrooms, each with a full bath
- 2,250‑square‑foot duplex built in 1968
- Upper unit includes a wraparound deck; lower unit has a patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,239
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$484,780
$484.8K
Cap Rate 7%
$346,271
$346.3K
Cap Rate 9%
$269,322
$269.3K
Market Conditions
NOI Build-Up for 2,250 SF
Gross rent
$36.5K $16.20/SF
− Vacancy
−$1.8K −$0.81/SF
EGI
$34.6K $15.39/SF
− OpEx
−$10.4K −$4.62/SF
NOI
$24.2K $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%
$484,780
Cap Rate 7%
$346,271
Cap Rate 9%
$269,322
Alternative Uses
Best Use
Multifamily LT 5
$346.3K
$303.0K – $404.0K
NOI $24,239 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$303.9K
$265.9K – $354.6K
NOI $21,273 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$866.6K
$758.3K – $1.01M
NOI $60,661 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,987
Businesses Nearby
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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
$290,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Rochester, MN
Properties on Market for Duplexes in Rochester
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate utility meters serve the units, with shared laundry located on the lower level.
Where is this duplex located?
The property is located at 403 8 1/2 Avenue NW Rochester, MN.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: Two units: one with 3 bedrooms and one with 2 bedrooms, each with a full bath; 2,250‑square‑foot duplex built in 1968; Upper unit includes a wraparound deck; lower unit has a patio
