Triplex with Attached
For Sale
$340,000
Pending
612 19th, Bismarck, ND 58501
Three-unit property with a spacious owner-occupant residence and two lower-level apartments.
Property Size3,288 SF
Days on Market16
Property Features for 612 19th
General Information
Standard status
Pending
Size
3,288 SF
Property subtype
Triplex
Units
Unit Mix
1 x 4BR/1.5BA, 2 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,585
Amenities
Garage: Shared Driveway, Detached, Off Street, Garage Door Opener, Additional Parking, Garage Faces Front, Attached
Garage Spaces: 1
Style: Over/Under
6
4.00
3
Over/Under
Shared Driveway, Detached, Off Street, Garage Door Opener, Additional Parking, Garage Faces Front, Attached
1
Building Details
Year Built
1953
Listing Agency:
Better Homes and Gardens Real Estate Alliance Group
(701) 223-3030
Listed By:
Bill H Dean
Source:
Clearwaterproperties
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 5:00PM
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.
This 3,288-square-foot triplex, built in 1953, combines a two-story four-bedroom residence with two one-bedroom apartments. The main unit includes one and a half baths, a sunroom, dining room, covered deck, main-floor laundry, and an attached single-stall garage. The lower apartments each have one bedroom and one bath.
Recent improvements include new carpet in the main living areas and upper-level bedrooms, along with updated bathroom fixtures in the upstairs residence. The property also provides off-street parking and a detached garage, with access from a shared driveway. Located at 612 19th in Bismarck, North Dakota, the building offers a multi-unit configuration with separate residential spaces under one roof.
Recent improvements include new carpet in the main living areas and upper-level bedrooms, along with updated bathroom fixtures in the upstairs residence. The property also provides off-street parking and a detached garage, with access from a shared driveway. Located at 612 19th in Bismarck, North Dakota, the building offers a multi-unit configuration with separate residential spaces under one roof.
Key Highlights
- Three‑unit layout with one two‑story four‑bedroom residence and two one‑bedroom apartments
- 3,288 square feet; built in 1953
- Main residence includes a sunroom, dining room, covered deck, and main‑floor laundry
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
$21,737
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
6.39%
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%
$434,740
$434.7K
Cap Rate 7%
$310,529
$310.5K
Cap Rate 9%
$241,522
$241.5K
Market Conditions
NOI Build-Up for 3,288 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
$33.5K $10.20/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$31.1K $9.44/SF
− OpEx
−$9.3K −$2.83/SF
NOI
$21.7K $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%
$434,740
Cap Rate 7%
$310,529
Cap Rate 9%
$241,522
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.3K
NOI $21,737 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$268.7K
$235.1K – $313.5K
NOI $18,808 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$782.4K
$684.6K – $912.9K
NOI $54,771 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a spacious owner-occupant residence and two lower-level apartments.
Where is this triplex located?
The property is located at 612 19th Bismarck, ND.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Three‑unit layout with one two‑story four‑bedroom residence and two one‑bedroom apartments; 3,288 square feet; built in 1953; Main residence includes a sunroom, dining room, covered deck, and main‑floor laundry
