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 Market33
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
(612) 559-0150
Listed By:
Alexandra Haider
Source:
Chrisfritchteam
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 25 at 4:18AM
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 = 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
$20,250
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
6.77%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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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
