Updated Duplex with Three-Car
For Sale
$449,900
49 91st Ln Ne, Blaine, MN 55014
Brick/stucco up-and-down duplex with 3-bedroom and 2-bedroom units plus a detached three-car garage and recent updates.
Property Size1,820 SF
Price / SF$247.20
Days on Market33
Property Features for 49 91st Ln Ne
General Information
Standard status
Active
Size
1,820 SF
Total Parking Spaces
3
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,262
Building Details
Buildings
1
Stories
2
Construction
brick/stucco
Tenancy
Multi
Listing Agency:
Keller Williams Classic Realty
(763) 445-9760
Listed By:
Joel D. Friday · License #20538434
(763) 445-9760
Source:
Exprealty
Added: Jul 23
Changed: Aug 23
Last Checked: Aug 22 at 3:46PM
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 Keller Williams Classic Realty
Investment Insights
Based on property information with market context.
Turnkey up-and-down duplex with a durable, low-maintenance brick/stucco exterior and a detached three-car garage. The property is configured with a three-bedroom unit and a two-bedroom unit. Recent improvements include updated appliances, flooring, carpet, paint, lighting, plumbing fixtures, windows, and a new boiler, supporting a move-in ready, easy-to-maintain operation.
Set in a quiet neighborhood surrounded by single-family homes, the duplex is close to schools, parks, trails, highways, shopping, and dining, with Northtown Mall nearby.
For a straightforward two-unit setup, this updated duplex offers a clean, functional layout with separate bedroom configurations across the upper and lower levels.
Set in a quiet neighborhood surrounded by single-family homes, the duplex is close to schools, parks, trails, highways, shopping, and dining, with Northtown Mall nearby.
For a straightforward two-unit setup, this updated duplex offers a clean, functional layout with separate bedroom configurations across the upper and lower levels.
Key Highlights
- Up‑and‑down duplex built in 1961 with brick/stucco exterior
- Unit mix: 3‑bedroom unit and 2‑bedroom unit
- Detached three‑car garage
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
$22,541
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
5.01%
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%
$450,820
$450.8K
Cap Rate 7%
$322,014
$322.0K
Cap Rate 9%
$250,456
$250.5K
Market Conditions
NOI Build-Up for 1,820 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
$34.5K $18.96/SF
− Vacancy
−$2.3K −$1.27/SF
EGI
$32.2K $17.69/SF
− OpEx
−$9.7K −$5.31/SF
NOI
$22.5K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /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%
$450,820
Cap Rate 7%
$322,014
Cap Rate 9%
$250,456
Alternative Uses
Best Use
Multifamily LT 5
$322.0K
$281.8K – $375.7K
NOI $22,541 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$296.7K
$259.7K – $346.2K
NOI $20,772 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$505.5K
$442.4K – $589.8K
NOI $35,388 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 55014, MN
28,603
Population
11,163
Households
2.6
Avg Household Size
40
Median Age
36%
College-Educated
95%
High-School Grad
20.3 sq mi
ZIP Area
1,409
Density / Sq Mi
$98,952
Median Household Income
$50,744
Median Earnings
$1,553
Median Rent
$324,700
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 - Brick/stucco up-and-down duplex with 3-bedroom and 2-bedroom units plus a detached three-car garage and recent updates.
Where is this duplex located?
The property is located at 49 91st Ln Ne Blaine, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Up‑and‑down duplex built in 1961 with brick/stucco exterior; Unit mix: 3‑bedroom unit and 2‑bedroom unit; Detached three‑car garage
