Duplex with Upper Two-Bedroom
For Sale
$209,900
519 S 9th Street, Brainerd, MN 56401
MULTI_FAMILY - Brainerd, MN
Property Size1,408 SF
Lot Size0.13 Acres
Price / SF$149.08
Days on Market136
Property Features for 519 S 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family, Residential-Single Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Basement, Bedroom 3, Bathroom 1
Parking features
Covered, Driveway
Exterior features
Vinyl
Subdivision
Town Of Brainerd & First Add Bra
Lot features
Zero Lot Line
High school district
Brainerd
Directions
South 6th Street to East on Oak Street to North on S 9th Street to the property
Standard status
Active
APN
41240987
Size
1,408 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1426
Utilities
Heating system
Forced Air, Baseboard
Amenities
washer/dryer
Building Details
Year built
1888
Building materials
Frame
Listing Agency:
Keller Williams Realty Professionals
(218) 454-4300
Listed By:
Jamie Magness
(218) 454-4300
Added: Apr 3
Changed: Aug 15
Last Checked: Aug 16 at 6:06PM
MLS# 7043027
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.
Investment Insights
Based on property information with market context.
Frame duplex built in 1888 on a 0.13-acre lot, offering two separate living levels. The upper level features two bedrooms, a full bath, laminate hardwood flooring, a stackable washer/dryer, and a gas wall mount heater. The lower level includes one bedroom, a full bath, and newly updated finishes including new flooring and carpet. The lower level also features a new refrigerator, tile countertops, and washer/dryers.
Exterior features include vinyl. Parking is available with a driveway and covered parking.
The property includes forced air and baseboard heating systems. Interior rooms include bedrooms and bathrooms across the two levels, with basement space noted among the available rooms.
Exterior features include vinyl. Parking is available with a driveway and covered parking.
The property includes forced air and baseboard heating systems. Interior rooms include bedrooms and bathrooms across the two levels, with basement space noted among the available rooms.
Key Highlights
- Duplex built in 1888
- 0.13‑acre lot with vinyl exterior
- Upper unit: two bedrooms, full bath, stackable washer/dryer
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
262
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 - Frame duplex on a small lot with upper two-bedroom living space and lower one-bedroom unit.
Where is this duplex located?
The property is located at 519 S 9th Street 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: Duplex built in 1888; 0.13‑acre lot with vinyl exterior; Upper unit: two bedrooms, full bath, stackable washer/dryer
