Duplex with Rental Lower
412 23rd Street N, Bismarck, ND 58501
For Sale
$290,000
Pending
The three-bedroom residence pairs recent exterior improvements with a lower level currently rented separately.
Property Size1,774 SF
Days on Market64
Property Features for 412 23rd Street N
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
CENTURY 21 Morrison Realty
Listed By:
KATIE ASH
(701) 516-3265
Source:
Gabrielblackre
Added: Sep 8
Changed: Nov 10
Last Checked: Nov 9 at 2:28PM
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 CENTURY 21 Morrison Realty
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Investment Insights
Based on property information with market context.
This 1,774-square-foot duplex was built in 1958 and includes a three-bedroom residence. The lower level is currently rented and can be brought back into the home for additional living space or bedrooms.
Recent exterior work includes a new roof, updated front steps, refreshed backyard landscaping, and a new concrete pad for outdoor use. The property is in Bismarck.
Recent exterior work includes a new roof, updated front steps, refreshed backyard landscaping, and a new concrete pad for outdoor use. The property is in Bismarck.
Key Highlights
- 1,774‑square‑foot property with a three‑bedroom residence
- Lower level currently rented; can be incorporated into the home for additional living space or bedrooms
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,728
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$234,560
$234.6K
Cap Rate 7%
$167,543
$167.5K
Cap Rate 9%
$130,311
$130.3K
Market Conditions
NOI Build-Up for 1,774 SF
Gross rent
$18.1K $10.20/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$16.8K $9.44/SF
− OpEx
−$5.0K −$2.83/SF
NOI
$11.7K $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%
$234,560
Cap Rate 7%
$167,543
Cap Rate 9%
$130,311
Alternative Uses
Best Use
Multifamily LT 5
$167.5K
$146.6K – $195.5K
NOI $11,728 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$145.0K
$126.8K – $169.1K
NOI $10,147 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$422.2K
$369.4K – $492.5K
NOI $29,551 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The three-bedroom residence pairs recent exterior improvements with a lower level currently rented separately.
Where is this duplex located?
The property is located at 412 23rd Street N Bismarck, ND.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,774‑square‑foot property with a three‑bedroom residence; Lower level currently rented; can be incorporated into the home for additional living space or bedrooms; New roof
