Duplex with Tenant-Paid
For Sale
$299,000
681 Old Highway 8 NW, New Brighton, MN 55112
Two-unit residential property with tenants responsible for their own gas and electric service.
Property Size1,386 SF
Price / SF$215.73
Days on Market78
Property Features for 681 Old Highway 8 NW
General Information
Standard status
Active
Size
1,386 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1888
Listing Agency:
Financially Free, LLC
Listed By:
Alexandra Haider
(612) 559-0150
Source:
Chrisfritchteam
Added: Jul 29
Changed: Oct 7
Last Checked: Oct 13 at 12:06AM
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 Financially Free, LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a property built in 1888. The property size is reported as 1,386 square feet, and the address is 681 Old Highway 8 NW in New Brighton, Minnesota.
Tenants are responsible for their own gas and electric service. The property may suit an owner seeking a two-unit residential asset or a residence with an additional unit, subject to lease terms and applicable requirements.
Tenants are responsible for their own gas and electric service. The property may suit an owner seeking a two-unit residential asset or a residence with an additional unit, subject to lease terms and applicable requirements.
Key Highlights
- Two‑unit duplex property
- 1,386 property size
- Built in 1888
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,250
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,000
$405.0K
Cap Rate 7%
$289,286
$289.3K
Cap Rate 9%
$225,000
$225.0K
Market Conditions
NOI Build-Up for 1,386 SF
Gross rent
$30.8K $22.20/SF
− Vacancy
−$1.8K −$1.33/SF
EGI
$28.9K $20.87/SF
− OpEx
−$8.7K −$6.26/SF
NOI
$20.3K $14.61/SF
Area
Ramsey County, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$405,000
Cap Rate 7%
$289,286
Cap Rate 9%
$225,000
Alternative Uses
Best Use
Multifamily LT 5
$289.3K
$253.1K – $337.5K
NOI $20,250 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,600 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$330.7K
$289.3K – $385.8K
NOI $23,147 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 55112, MN
46,728
Population
17,956
Households
2.6
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
2,670
Density / Sq Mi
$93,823
Median Household Income
$47,676
Median Earnings
$1,322
Median Rent
$338,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with tenants responsible for their own gas and electric service.
Where is this duplex located?
The property is located at 681 Old Highway 8 NW New Brighton, MN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex property; 1,386 property size; Built in 1888
