Duplex with Separate
New
For Sale
$219,000
714 Oak St N, Fargo, ND 58102
Single-story duplex configuration with a four-bedroom, two-bath main residence and an additional one-bedroom apartment.
Property Size1,962 SF
Price / SF$111.62
Days on Market6
Property Features for 714 Oak St N
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Multi-Family
Building Details
Year Built
1922
Listing Agency:
Next Level Real Estate
Listed By:
The Elm Group brokered by REAL
(701) 446-7249
Source:
Realelmgroup
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 7 at 7:26AM
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 Next Level Real Estate
Investment Insights
Based on property information with market context.
Built in 1922, this duplex property includes a single-story four-bedroom, two-bath main residence. A separate 644-square-foot, one-bedroom apartment with a basement is positioned at the rear of the lot near the alley, creating additional flexibility within the property’s layout.
The secondary space can support rental use, office needs, or personal recreation, subject to applicable requirements. The property is located at 714 Oak St N in Fargo, North Dakota, and the main residence is described as well maintained.
The secondary space can support rental use, office needs, or personal recreation, subject to applicable requirements. The property is located at 714 Oak St N in Fargo, North Dakota, and the main residence is described as well maintained.
Key Highlights
- Four‑bedroom, two‑bath main residence
- Separate 644‑square‑foot, one‑bedroom apartment
- Rear apartment includes a basement
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
$17,721
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
8.09%
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%
$354,420
$354.4K
Cap Rate 7%
$253,157
$253.2K
Cap Rate 9%
$196,900
$196.9K
Market Conditions
NOI Build-Up for 1,962 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
$27.1K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$25.3K $12.90/SF
− OpEx
−$7.6K −$3.87/SF
NOI
$17.7K $9.03/SF
Area
Fargo, ND
Vacancy
6.50%
Lease Rate
$13.80 /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%
$354,420
Cap Rate 7%
$253,157
Cap Rate 9%
$196,900
Alternative Uses
Best Use
Multifamily LT 5
$253.2K
$221.5K – $295.4K
NOI $17,721 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$231.8K
$202.8K – $270.4K
NOI $16,223 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
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 - Single-story duplex configuration with a four-bedroom, two-bath main residence and an additional one-bedroom apartment.
Where is this duplex located?
The property is located at 714 Oak St N Fargo, ND.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Four‑bedroom, two‑bath main residence; Separate 644‑square‑foot, one‑bedroom apartment; Rear apartment includes a basement
