Two-Level
For Sale
$169,000
420 S Pokegama Ave, Grand Rapids, MN 55744
Duplex with separate living areas, dedicated parking, and access to nearby shopping, dining, and daily conveniences.
Property Size1,848 SF
Price / SF$91.45
Days on Market47
Property Features for 420 S Pokegama Ave
General Information
Standard status
Active
Size
1,848 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1961
Listing Agency:
MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Listed By:
Terri Haapoja
(218) 259-5068
Source:
Chrisfritchteam
Added: Sep 6
Changed: Oct 6
Last Checked: Oct 7 at 4:59PM
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 MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-level duplex includes a two-bedroom main-floor residence and a lower-level residence configured with one bedroom and efficiency-style living space. Each level has two designated parking spaces, while additional on-street parking is available along the side street.
The property is positioned near shopping, dining, and other everyday conveniences, giving both living areas access to nearby services. Its separate floor layouts and defined parking arrangement provide a straightforward duplex configuration for residential occupancy.
The property is positioned near shopping, dining, and other everyday conveniences, giving both living areas access to nearby services. Its separate floor layouts and defined parking arrangement provide a straightforward duplex configuration for residential occupancy.
Key Highlights
- Two‑level duplex with separate main- and lower‑level living areas
- Main level includes 2 bedrooms
- Lower level offers 1 bedroom and efficiency living
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,532
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$170,640
$170.6K
Cap Rate 7%
$121,886
$121.9K
Cap Rate 9%
$94,800
$94.8K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$14.6K $7.92/SF
− Vacancy
−$2.4K −$1.32/SF
EGI
$12.2K $6.60/SF
− OpEx
−$3.7K −$1.98/SF
NOI
$8.5K $4.62/SF
Area
Itasca County, MN
Vacancy
16.72%
Lease Rate
$7.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$170,640
Cap Rate 7%
$121,886
Cap Rate 9%
$94,800
Alternative Uses
Best Use
Multifamily LT 5
$121.9K
$106.7K – $142.2K
NOI $8,532 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$104.8K
$91.7K – $122.3K
NOI $7,337 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$178.2K
$155.9K – $207.9K
NOI $12,471 @ 7.0% cap · market cap 7.38%
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
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
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?
Duplex - Duplex with separate living areas, dedicated parking, and access to nearby shopping, dining, and daily conveniences.
Where is this duplex located?
The property is located at 420 S Pokegama Ave Grand Rapids, MN.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Two‑level duplex with separate main- and lower‑level living areas; Main level includes 2 bedrooms; Lower level offers 1 bedroom and efficiency living
