Two-Residence Multifamily
New
For Sale
$325,000
529 2nd St Se, Saint Cloud, MN 56304
Two separate residences provide six bedrooms and three bathrooms across the property.
Property Size1,945 SF
Price / SF$167.10
Days on Market7
Property Features for 529 2nd St Se
General Information
Standard status
Active
Size
1,945 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$325,000
Taxes and HOA fees
Annual Taxes
$3,740
Building Details
Buildings
2
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Ona Rawson
(952) 232-9553
Source:
Exprealty
Added: Oct 24
Changed: Oct 28
Last Checked: Oct 28 at 3:31PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This multifamily property comprises two separate residences on one parcel, with 1,945 square feet combined. The larger home has four bedrooms and two bathrooms; the second has two bedrooms and one bathroom. Both residences are vacant. Improvements include an egress window, replacement windows, new doors, a new garage door, and new carpeting in a bedroom and living room. A radon mitigation system is also installed.
Key Highlights
- Two separate residences on one parcel
- 1,945 square feet combined
- Larger home has 4 bedrooms and 2 bathrooms; second home has 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,101
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,020
$522.0K
Cap Rate 7%
$372,871
$372.9K
Cap Rate 9%
$290,011
$290.0K
Market Conditions
NOI Build-Up for 1,945 SF
Gross rent
$50.6K $26.04/SF
− Vacancy
−$3.2K −$1.64/SF
EGI
$47.5K $24.40/SF
− OpEx
−$21.4K −$10.98/SF
NOI
$26.1K $13.42/SF
Area
Sherburne County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,020
Cap Rate 7%
$372,871
Cap Rate 9%
$290,011
Alternative Uses
Best Use
Apartment 5plus
$372.9K
$326.3K – $435.0K
NOI $26,101 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.0K
$406.0K – $541.4K
NOI $32,483 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
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Business Placement
Demographics for 56304, MN
17,020
Population
7,538
Households
2.3
Avg Household Size
34
Median Age
25%
College-Educated
87%
High-School Grad
60.7 sq mi
ZIP Area
280
Density / Sq Mi
$54,133
Median Household Income
$36,365
Median Earnings
$926
Median Rent
$230,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences provide six bedrooms and three bathrooms across the property.
Where is this multifamily property located?
The property is located at 529 2nd St Se Saint Cloud, MN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separate residences on one parcel; 1,945 square feet combined; Larger home has 4 bedrooms and 2 bathrooms; second home has 2 bedrooms and 1 bathroom
