Triplex with Separate
For Sale
$319,900
618 N 19th, Bismarck, ND 58501
Three-unit triplex features independent entrances, common laundry, and three separate electrical meters.
Property Size2,580 SF
Price / SF$123.99
Days on Market49
Property Features for 618 N 19th
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,343
Amenities
Garage: None
Style: Apartment Style
5
3.00
3
Apartment Style
Building Details
Year Built
1953
Listing Agency:
Realty One Group - Encore
Listed By:
PATRICK KOSKI · License #8121
(701) 471-1331
Source:
Clearwaterproperties
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 1 at 6:08PM
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
Investment Insights
Based on property information with market context.
This triplex includes three separate units with independent entrances, supported by three separate electrical meters. The lower unit offers a 2-bedroom, 1-bathroom layout, and the main floor unit is also configured with 2 bedrooms and 1 bathroom. The upper unit provides a 1-bedroom, 1-bathroom arrangement. A common laundry area is included for the property.
The offering also includes a backyard parking area, providing dedicated onsite space for residents and guests.
Configured as a three-unit residential income property, the building supports flexibility for long-term or short-term style renting, or owner-occupancy with rental income from the remaining units.
The offering also includes a backyard parking area, providing dedicated onsite space for residents and guests.
Configured as a three-unit residential income property, the building supports flexibility for long-term or short-term style renting, or owner-occupancy with rental income from the remaining units.
Key Highlights
- Tri‑plex with three separate units: two 2‑bed, 1‑bath units and one 1‑bed, 1‑bath unit
- Each unit has its own entrance for independent access
- Common laundry area on site
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
$17,056
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
5.33%
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%
$341,120
$341.1K
Cap Rate 7%
$243,657
$243.7K
Cap Rate 9%
$189,511
$189.5K
Market Conditions
NOI Build-Up for 2,580 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
$26.3K $10.20/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$24.4K $9.44/SF
− OpEx
−$7.3K −$2.83/SF
NOI
$17.1K $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 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%
$341,120
Cap Rate 7%
$243,657
Cap Rate 9%
$189,511
Alternative Uses
Best Use
Multifamily LT 5
$243.7K
$213.2K – $284.3K
NOI $17,056 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$210.8K
$184.5K – $246.0K
NOI $14,758 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$614.0K
$537.2K – $716.3K
NOI $42,977 @ 7.0% cap · market cap 13.43%
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 triplex features independent entrances, common laundry, and three separate electrical meters.
Where is this triplex located?
The property is located at 618 N 19th Bismarck, ND.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Tri‑plex with three separate units: two 2‑bed, 1‑bath units and one 1‑bed, 1‑bath unit; Each unit has its own entrance for independent access; Common laundry area on site
