4-Unit
For Sale
$229,900
604 3rd Street, Bismarck, ND 58501
Month-to-month occupancy and updated electrical panels define this residential income property.
Property Size1,672 SF
Price / SF$137.50
Days on Market21
Property Features for 604 3rd Street
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Quadruplex
Additional Details
Gross Income
$32,400
Multifamily Units
4
Tenant in Place
Yes
Amenities
washer and dryer
Building Details
Year Built
1929
Listing Agency:
Realty One Group - Encore
Listed By:
Brandon R Steckler
(701) 425-7190
Source:
Gabrielblackre
Added: Oct 11
Changed: Oct 28
Last Checked: Oct 28 at 2:34PM
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 Realty One Group - Encore
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Investment Insights
Based on property information with market context.
This 4-unit quadplex contains 1,672 square feet and was built in 1929. Electrical panels have been updated in the building and units, and a washer and dryer are included in the unfinished basement.
The property is in downtown Bismarck. All four units are occupied on month-to-month terms.
The property is in downtown Bismarck. All four units are occupied on month-to-month terms.
Key Highlights
- Four rental units, each occupied month‑to‑month
- 1,672 square feet; built in 1929
- Updated electrical panels in the building and units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,053
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,060
$221.1K
Cap Rate 7%
$157,900
$157.9K
Cap Rate 9%
$122,811
$122.8K
Market Conditions
NOI Build-Up for 1,672 SF
Gross rent
$17.1K $10.20/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$15.8K $9.44/SF
− OpEx
−$4.7K −$2.83/SF
NOI
$11.1K $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 Rate 5%
$221,060
Cap Rate 7%
$157,900
Cap Rate 9%
$122,811
Alternative Uses
Best Use
Multifamily LT 5
$157.9K
$138.2K – $184.2K
NOI $11,053 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$136.6K
$119.6K – $159.4K
NOI $9,564 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$397.9K
$348.2K – $464.2K
NOI $27,852 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,813
Businesses Nearby
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Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Month-to-month occupancy and updated electrical panels define this residential income property.
Where is this quadplex located?
The property is located at 604 3rd Street Bismarck, ND.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Four rental units, each occupied month‑to‑month; 1,672 square feet; built in 1929; Updated electrical panels in the building and units
