Character-Filled Duplex with Updated
For Sale
$221,999
712 8th Ave SE, Rochester, MN 55904
Two-unit residential property with separate laundry, metered electric, and refreshed kitchens and bathrooms.
Property Size1,428 SF
Price / SF$155.46
Days on Market37
Property Features for 712 8th Ave SE
General Information
Standard status
Active
Size
1,428 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
dishwashers
separate laundry for each unit
separately metered electric
Building Details
Year Built
1920
Listing Agency:
Real Broker, LLC.
(612) 600-6000
Listed By:
Jason Zubay
Source:
Vibemn
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 30 at 8:53PM
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 Real Broker, LLC.
Investment Insights
Based on property information with market context.
This two-unit property contains 1,428 square feet and dates to 1920, combining original hardwood flooring with updated kitchens and bathrooms. Each unit includes a dishwasher and its own laundry area, while separate electric metering supports distinct utility management for the units.
The lower apartment is occupied, and the upper apartment is vacant. The property is located at 712 8th Ave SE in Rochester, Minnesota, with layouts suited to continued residential rental use. Water and sewer service is the owner’s responsibility, while tenants pay their own electric service.
The lower apartment is occupied, and the upper apartment is vacant. The property is located at 712 8th Ave SE in Rochester, Minnesota, with layouts suited to continued residential rental use. Water and sewer service is the owner’s responsibility, while tenants pay their own electric service.
Key Highlights
- 1,428‑square‑foot duplex built in 1920
- Original hardwood floors paired with updated kitchens and bathrooms
- Dishwashers included in both units
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
$15,384
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
6.93%
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%
$307,680
$307.7K
Cap Rate 7%
$219,771
$219.8K
Cap Rate 9%
$170,933
$170.9K
Market Conditions
NOI Build-Up for 1,428 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
$23.1K $16.20/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$22.0K $15.39/SF
− OpEx
−$6.6K −$4.62/SF
NOI
$15.4K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /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%
$307,680
Cap Rate 7%
$219,771
Cap Rate 9%
$170,933
Alternative Uses
Best Use
Multifamily LT 5
$219.8K
$192.3K – $256.4K
NOI $15,384 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$192.9K
$168.8K – $225.0K
NOI $13,501 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$550.0K
$481.3K – $641.7K
NOI $38,500 @ 7.0% cap · market cap 17.34%
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
4,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 55904, MN
29,813
Population
12,984
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
60.1 sq mi
ZIP Area
496
Density / Sq Mi
$76,434
Median Household Income
$47,250
Median Earnings
$1,253
Median Rent
$237,200
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 separate laundry, metered electric, and refreshed kitchens and bathrooms.
Where is this duplex located?
The property is located at 712 8th Ave SE Rochester, MN.
What is the asking price?
The asking price for this property is $221,999.
What are key features of this property?
This property features: 1,428‑square‑foot duplex built in 1920; Original hardwood floors paired with updated kitchens and bathrooms; Dishwashers included in both units
