Duplex with Lower-Level
For Sale
$169,000
Pending
420 S Pokegama Avenue, Grand Rapids, MN 55744
Residential Income, Grand Rapids, MN
Property Size1,848 SF
Lot Size0.29 Acres
Days on Market50
Property Features for 420 S Pokegama Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Basement
Parking features
Driveway
Subdivision
Garlands Add To Grand Rapids
Lot features
Corner Lot, Tree Coverage - Heavy
High school district
Grand Rapids
Directions
Grand Rapids Pokegama Ave S, on the corner of Pokegama Ave and 5th St, by El Potro restaurant.
Standard status
Pending
APN
915400140
Size
1,848 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1075
Utilities
Heating system
Forced Air
Building Details
Year built
1961
Building materials
Block, Brick, Frame
Roof type
Rubber, Flat
Listing Agency:
MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
(218) 327-9889
Listed By:
Terri Haapoja
(218) 259-5068
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 16 at 3:06PM
MLS# 7133242
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,848-square-foot duplex, built in 1961, has two bedrooms on the main floor and a one-bedroom efficiency-style living area on the lower level. Construction includes block, brick, and frame materials, with forced-air heating and a flat rubber roof. The property occupies 0.29 acres and has driveway parking, with two parking spaces associated with each level.
The building is near shopping, dining, and everyday conveniences. On-street parking is also available along the side street.
The building is near shopping, dining, and everyday conveniences. On-street parking is also available along the side street.
Key Highlights
- 1,848‑square‑foot duplex on a 0.29‑acre lot
- Two bedrooms on the main floor; lower level has one‑bedroom efficiency‑style living
- Two driveway parking spaces associated with each level, plus on‑street parking along the side street
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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
615
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The main floor has two bedrooms, with a one-bedroom efficiency arrangement downstairs.
Where is this duplex located?
The property is located at 420 S Pokegama Avenue 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: 1,848‑square‑foot duplex on a 0.29‑acre lot; Two bedrooms on the main floor; lower level has one‑bedroom efficiency‑style living; Two driveway parking spaces associated with each level, plus on‑street parking along the side street
