Duplex With Private
For Sale
$249,900
802 Le Hillier St, Mankato, MN 56001
Two residential units offer distinct layouts, private access, laundry space, storage, and included appliances.
Property Size2,550 SF
Price / SF$98
Days on Market48
Property Features for 802 Le Hillier St
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1958
Listing Agency:
Keller Williams Premier Realty
Listed By:
Shawna L. Wolfe · License #20215401
(507) 420-1877
Source:
Tayloronken
Added: Aug 10
Changed: Sep 11
Last Checked: Sep 24 at 10:47AM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex contains two separately accessed residential units. The larger residence includes four bedrooms and two bathrooms, along with a dedicated laundry room and attic storage. Its appliance package includes a washer, dryer, and new refrigerator. A block patio provides additional outdoor space.
The second unit features three bedrooms and one bathroom, plus its own private entrance. Appliances and equipment include a dehumidifier and air purifier. The property is located at 802 Le Hillier St in Mankato, Minnesota.
The second unit features three bedrooms and one bathroom, plus its own private entrance. Appliances and equipment include a dehumidifier and air purifier. The property is located at 802 Le Hillier St in Mankato, Minnesota.
Key Highlights
- 1,500‑square‑foot duplex at 802 Le Hillier St, Mankato, MN
- Unit 1 includes 4 bedrooms, 2 bathrooms, private entrance, laundry room, and attic storage
- Unit 1 appliance package includes a washer, dryer, and new refrigerator
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
$21,029
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
8.41%
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%
$420,580
$420.6K
Cap Rate 7%
$300,414
$300.4K
Cap Rate 9%
$233,656
$233.7K
Market Conditions
NOI Build-Up for 2,550 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
$32.1K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$30.0K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$21.0K $8.25/SF
Area
Blue Earth County, MN
Vacancy
6.50%
Lease Rate
$12.60 /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%
$420,580
Cap Rate 7%
$300,414
Cap Rate 9%
$233,656
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$278.6K
$243.8K – $325.0K
NOI $19,500 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$504.0K
$441.0K – $588.0K
NOI $35,279 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
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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 residential units offer distinct layouts, private access, laundry space, storage, and included appliances.
Where is this duplex located?
The property is located at 802 Le Hillier St Mankato, MN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,500‑square‑foot duplex at 802 Le Hillier St, Mankato, MN; Unit 1 includes 4 bedrooms, 2 bathrooms, private entrance, laundry room, and attic storage; Unit 1 appliance package includes a washer, dryer, and new refrigerator
