Duplex with Updated Lower
For Sale
$209,900
519 S 9th St, Brainerd, MN 56401
Two-unit residential property with separate upper and lower living spaces and in-unit laundry equipment.
Property Size1,408 SF
Price / SF$149.08
Days on Market31
Property Features for 519 S 9th St
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
washer/dryer
Building Details
Year Built
1888
Listing Agency:
Keller Williams Realty Professionals
(218) 838-4095
Listed By:
Jamie Magness
Source:
Searchhousesnow
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 25 at 5:25AM
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 Realty Professionals
Investment Insights
Based on property information with market context.
This duplex, built in 1888, is arranged across upper and lower levels. The upper residence includes two bedrooms, a full bathroom, stackable washer and dryer, laminate hardwood flooring, and a gas wall-mounted heater. The lower residence offers one bedroom, a full bathroom, new flooring and carpet, a new refrigerator, tile countertops, and washer and dryer equipment.
The property is located at 519 S 9th St in Brainerd, Minnesota. The two-level configuration provides distinct living areas within a single residential building, with laundry equipment serving both residences.
The property is located at 519 S 9th St in Brainerd, Minnesota. The two-level configuration provides distinct living areas within a single residential building, with laundry equipment serving both residences.
Key Highlights
- Two‑level duplex configuration with separate upper and lower residences
- Upper unit includes 2 bedrooms, a full bath, and stackable washer/dryer
- Lower unit includes 1 bedroom and a full bath
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
$12,853
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
6.12%
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%
$257,060
$257.1K
Cap Rate 7%
$183,614
$183.6K
Cap Rate 9%
$142,811
$142.8K
Market Conditions
NOI Build-Up for 1,408 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
$19.4K $13.80/SF
− Vacancy
−$1.1K −$0.76/SF
EGI
$18.4K $13.04/SF
− OpEx
−$5.5K −$3.91/SF
NOI
$12.9K $9.13/SF
Area
Crow Wing County, MN
Vacancy
5.50%
Lease Rate
$13.80 /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%
$257,060
Cap Rate 7%
$183,614
Cap Rate 9%
$142,811
Alternative Uses
Best Use
Multifamily LT 5
$183.6K
$160.7K – $214.2K
NOI $12,853 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$164.0K
$143.5K – $191.3K
NOI $11,477 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$298.9K
$261.6K – $348.7K
NOI $20,924 @ 7.0% cap · market cap 9.97%
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
1,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
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 residential property with separate upper and lower living spaces and in-unit laundry equipment.
Where is this duplex located?
The property is located at 519 S 9th St Brainerd, MN.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑level duplex configuration with separate upper and lower residences; Upper unit includes 2 bedrooms, a full bath, and stackable washer/dryer; Lower unit includes 1 bedroom and a full bath
