Building Details

Year built 1892

Listing Agency: Engel & Volkers Minneapolis Prior Lake · Engel & Völkers p***@engelvoelkers.com Show Phone

Listed By: Niki Fairbanks

Added: Oct 8 Changed: Oct 10 Last Checked: Oct 11 at 2:06AM

Report an Issue

MLS# 7119689

Copyright © 2026 Engel & Völkers. 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.

Built in 1892, this 2,256-square-foot duplex contains two separate residences: a main-level three-bedroom unit and an upper-level two-bedroom unit. Both have updated kitchens, and each has its own laundry. The main residence includes an open layout, a center-island kitchen, and a full bath with a jetted tub. The upper unit features stainless steel appliances, a walk-in pantry, and a three-quarter bath with a tiled shower. A front porch and rear deck provide outdoor areas for residents.

The upper unit also connects to unfinished attic space with plumbing in place for a potential second bathroom. Downtown Buffalo, local shops, restaurants, parks, schools, Buffalo Lake, and other area amenities are nearby.

Key Highlights

• Two‑unit duplex with 2,256 square feet
• Built in 1892
• Main‑level unit has 3 bedrooms; upper unit has 2 bedrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,962

Cap Rate

8.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$659,240 $659.2K

Cap Rate 7%

$470,886 $470.9K

Cap Rate 9%

$366,244 $366.2K

Market Conditions

NOI Build-Up for 2,256 SF

Gross rent

$50.1K $22.20/SF

− Vacancy

−$3.0K −$1.33/SF

EGI

$47.1K $20.87/SF

− OpEx

−$14.1K −$6.26/SF

NOI

$33.0K $14.61/SF

Area

Wright County, MN

Vacancy

5.98%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$659,240

Cap Rate 7%

$470,886

Cap Rate 9%

$366,244

Alternative Uses

Best Use

Multifamily LT 5

$470.9K

$412.0K – $549.4K (±1% cap)

NOI $32,962 @ 7.0% cap · market cap 8.45%

Second Best

Apartment 5plus

$432.5K

$378.4K – $504.6K (±1% cap)

NOI $30,275 @ 7.0% cap · market cap 7.76%

Theoretical Best

Office A

$538.2K

$471.0K – $627.9K (±1% cap)

NOI $37,676 @ 7.0% cap · market cap 9.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Little Free Library Community Center

Suggested Use

Top Pick Parking Lot & Garage Barber Shop Computer & Electronic Repair (Bike/Boat/Book/etc) Store Grocery & Convenience Store Tech Support Center

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

Location Intelligence

Trade Area within ½ mile

397

Businesses Nearby

Explore this area Business Placement

Demographics for 55313, MN

24,406

Population

9,445

Households

2.6

Avg Household Size

40

Median Age

31%

College-Educated

94%

High-School Grad

107.7 sq mi

ZIP Area

227

Density / Sq Mi

$93,471

Median Household Income

$53,867

Median Earnings

$1,150

Median Rent

$321,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Two-Unit Duplex with Shared Garage

911 2nd Avenue S, Buffalo, MN 55313

$349,900

2,388 SF

View details

Two-Tenant Restaurant Property

701 Soo Lane, Buffalo, MN 55313

$1,200,000

4,066 SF

View details

End-Cap Mixed-Use Suite

701 Highway 55 E, Buffalo, MN 55313

Contact for pricing

1.17 Acres

View details

Waterfront Retreat and Educational Campus

621 1st Ave S, Buffalo, MN 55313

$4,350,000

80,262 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two distinct residences include updated kitchens and separate laundry facilities for each unit.

Where is this duplex located?

The property is located at 405 Lake Boulevard S Buffalo, MN.

What is the asking price?

The asking price for this property is $389,900.

What are key features of this property?

This property features: Two‑unit duplex with 2,256 square feet; Built in 1892; Main‑level unit has 3 bedrooms; upper unit has 2 bedrooms