Side-by-Side Duplex with
New
For Sale
$360,000
507/509 Interstate, Bismarck, ND 58503
Two-bedroom units offer updated finishes, private patios, storage, and flexible basement space.
Property Size2,616 SF
Price / SF$137.61
Days on Market2
Property Features for 507/509 Interstate
General Information
Standard status
Active
Size
2,616 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$3,853
Amenities
landscaped yard
patio
shared laundry
Garage: See Remarks, Garage Door Opener, Side By Side, Attached
Garage Spaces: 2
Style: Ranch, Side By Side
5
2.00
2
Ranch, Side By Side
See Remarks, Garage Door Opener, Side By Side, Attached
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Better Homes and Gardens Real Estate Alliance Group
Listed By:
DENISE M ZIEGLER
(701) 391-4566
Source:
Clearwaterproperties
Added: Sep 6
Last Checked: Sep 6 at 2:16PM
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 Better Homes and Gardens Real Estate Alliance Group
Investment Insights
Based on property information with market context.
Built in 1972, this 2,616-square-foot side-by-side duplex includes two two-bedroom units, each with a spacious living room, dining area, full bathroom, substantial storage, and an attached single-stall garage. Both residences feature updated main-floor windows and newer patio doors, while landscaped grounds provide a separate patio for each side.
The west unit at 507 is ready for occupancy and includes newer kitchen countertops and range, refreshed bathroom finishes, unfinished basement space, separate laundry hookups, and plumbing for a second bathroom. The east unit at 509 includes mostly updated kitchen appliances, a disposal, newer bathroom flooring and toilet, and a partly finished basement with a nonconforming bedroom and family room area. Laundry is shared on the main floor, with additional hookups in 507’s basement. The property is offered as-is, where-is.
The west unit at 507 is ready for occupancy and includes newer kitchen countertops and range, refreshed bathroom finishes, unfinished basement space, separate laundry hookups, and plumbing for a second bathroom. The east unit at 509 includes mostly updated kitchen appliances, a disposal, newer bathroom flooring and toilet, and a partly finished basement with a nonconforming bedroom and family room area. Laundry is shared on the main floor, with additional hookups in 507’s basement. The property is offered as-is, where-is.
Key Highlights
- 2,616‑square‑foot duplex built in 1972
- Two side‑by‑side two‑bedroom units, each with an attached single‑stall garage
- Unit 507 is ready for occupancy with newer kitchen countertops and range
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
$17,294
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
4.80%
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%
$345,880
$345.9K
Cap Rate 7%
$247,057
$247.1K
Cap Rate 9%
$192,156
$192.2K
Market Conditions
NOI Build-Up for 2,616 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
$26.7K $10.20/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$24.7K $9.44/SF
− OpEx
−$7.4K −$2.83/SF
NOI
$17.3K $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 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%
$345,880
Cap Rate 7%
$247,057
Cap Rate 9%
$192,156
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.2K – $288.2K
NOI $17,294 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$622.5K
$544.7K – $726.3K
NOI $43,577 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units offer updated finishes, private patios, storage, and flexible basement space.
Where is this duplex located?
The property is located at 507/509 Interstate Bismarck, ND.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,616‑square‑foot duplex built in 1972; Two side‑by‑side two‑bedroom units, each with an attached single‑stall garage; Unit 507 is ready for occupancy with newer kitchen countertops and range
