4-Unit Apartment Building with Private
New
For Sale
$415,000
409 N 15th, Bismarck, ND 58501
Each apartment has its own kitchen and dining area, with shared on-site laundry available to residents.
Property Size3,600 SF
Price / SF$115.28
Days on Market2
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 409 N 15th
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,787
Amenities
shared on-site washer/dryer
Garage: Alley Access, Garage Faces Rear
Garage Spaces: 4
Style: Apartment Style, Two-Story
7
4.00
4
Apartment Style, Two-Story
Alley Access, Garage Faces Rear
Building Details
Year Built
1962
Buildings
1
Listing Agency:
BIANCO REALTY, INC.
Listed By:
LONNA QUAST
(701) 223-6654
Source:
Clearwaterproperties
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:34AM
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 BIANCO REALTY, INC.
Investment Insights
Based on property information with market context.
This 3,600-square-foot, two-story apartment property contains four units: three two-bedroom apartments and one one-bedroom apartment, totaling 7 bedrooms and 4 full bathrooms. Each residence has a private entrance, kitchen, and dining area. Refrigerators, ranges, and window A/C units are included in every apartment, while a shared washer and dryer serve the building. Heating is provided by a boiler, and the roof was replaced in 2018. Steel siding and a mix of vinyl and carpet flooring complete the physical features.
Parking includes a rear-facing garage reached from the alley, dedicated parking pads for each apartment, and additional street parking. The property is fully rented. It sits just off Rosser Avenue on 15th Street, near downtown, a large park, restaurants, a hair salon, Airport Road, and Main Street.
Parking includes a rear-facing garage reached from the alley, dedicated parking pads for each apartment, and additional street parking. The property is fully rented. It sits just off Rosser Avenue on 15th Street, near downtown, a large park, restaurants, a hair salon, Airport Road, and Main Street.
Key Highlights
- Four apartments: three 2‑bedroom units and one 1‑bedroom unit
- 3,600 sq ft building with 7 bedrooms and 4 full bathrooms
- Private entrance, kitchen, and dining area in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,799
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,980
$476.0K
Cap Rate 7%
$339,986
$340.0K
Cap Rate 9%
$264,433
$264.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$36.7K $10.20/SF
− Vacancy
−$2.7K −$0.76/SF
EGI
$34.0K $9.44/SF
− OpEx
−$10.2K −$2.83/SF
NOI
$23.8K $6.61/SF
Area
Burleigh County, ND
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,980
Cap Rate 7%
$339,986
Cap Rate 9%
$264,433
Alternative Uses
Best Use
Multifamily LT 5
$340.0K
$297.5K – $396.7K
NOI $23,799 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,592 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$856.7K
$749.6K – $999.5K
NOI $59,968 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,476
Businesses Nearby
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has its own kitchen and dining area, with shared on-site laundry available to residents.
Where is this quadplex located?
The property is located at 409 N 15th Bismarck, ND.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Four apartments: three 2‑bedroom units and one 1‑bedroom unit; 3,600 sq ft building with 7 bedrooms and 4 full bathrooms; Private entrance, kitchen, and dining area in each apartment
