Updated Duplex with
For Sale
$475,000
417 Harriet St S, Stillwater, MN 55082
Two-unit property with refreshed exterior, new windows, and added attic and rim-joist insulation.
Property Size1,756 SF
Price / SF$270.50
Days on Market12
Property Features for 417 Harriet St S
General Information
Standard status
Active
Size
1,756 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,426
Amenities
backyard
Listing Agency:
Edina Realty, Inc.
(651) 271-1944
Listed By:
Bradley Knospe
(651) 271-1944
Source:
Exprealty
Added: Aug 5
Changed: Aug 14
Last Checked: Aug 15 at 8:41AM
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, Inc.
Investment Insights
Based on property information with market context.
This 1,756-square-foot duplex includes two residential units and a backyard suitable for outdoor use, entertaining, or gardening. Recent property improvements include refreshed exterior siding, replacement windows, and insulation added in the attic and rim joist. The configuration supports either owner-occupant use or rental operations.
The property is located five blocks from historic downtown Stillwater and seven blocks from the St. Croix River. Shops, restaurants, parks, and riverfront attractions are also nearby, placing everyday services and recreation within the surrounding area.
The property is located five blocks from historic downtown Stillwater and seven blocks from the St. Croix River. Shops, restaurants, parks, and riverfront attractions are also nearby, placing everyday services and recreation within the surrounding area.
Key Highlights
- Two‑unit duplex totaling 1,756 square feet
- Refreshed exterior siding and new windows
- Attic and rim‑joist insulation improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,000
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$460,000
$460.0K
Cap Rate 7%
$328,571
$328.6K
Cap Rate 9%
$255,556
$255.6K
Market Conditions
NOI Build-Up for 1,756 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.8K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$32.9K $18.71/SF
− OpEx
−$9.9K −$5.61/SF
NOI
$23.0K $13.10/SF
Area
Washington County, MN
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$460,000
Cap Rate 7%
$328,571
Cap Rate 9%
$255,556
Alternative Uses
Best Use
Multifamily LT 5
$328.6K
$287.5K – $383.3K
NOI $23,000 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$305.1K
$267.0K – $356.0K
NOI $21,360 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$487.8K
$426.8K – $569.1K
NOI $34,143 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 55082, MN
36,441
Population
15,493
Households
2.4
Avg Household Size
46
Median Age
53%
College-Educated
97%
High-School Grad
79.2 sq mi
ZIP Area
460
Density / Sq Mi
$117,538
Median Household Income
$58,615
Median Earnings
$1,439
Median Rent
$459,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed exterior, new windows, and added attic and rim-joist insulation.
Where is this duplex located?
The property is located at 417 Harriet St S Stillwater, MN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,756 square feet; Refreshed exterior siding and new windows; Attic and rim‑joist insulation improvements
