Duplex with Upper-Level
815 N 4th Street, Mankato, MN 56001
For Sale
New
$249,900
Residential Income, Mankato, MN
Property Size2,288 SF
Lot Size0.10 Acres
Price / SF$109.22
Days on Market4
Property Features for 815 N 4th Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
porches
deck
separate washers and dryers
off-street parking
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
True Real Estate
Listed By:
Michelle Starkey
(507) 345-8783
Added: Nov 4
Changed: Nov 7
Last Checked: Nov 7 at 3:06PM
MLS# 7168251
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-unit duplex in Mankato contains 2,288 square feet on a 0.095-acre lot. Built in 1890, the building has frame and stone construction and forced-air heating. The lower residence has two porches, while the upper residence opens to a deck. Each unit is equipped with a separate washer and dryer.
Parking includes on-street and off-street options. The property is located at 815 N 4th Street.
Parking includes on-street and off-street options. The property is located at 815 N 4th Street.
Key Highlights
- 2,288‑square‑foot duplex on a 0.095‑acre lot
- Two residential units, each with a separate washer and dryer
- Upper unit has a deck; lower unit has two porches
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,868
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$377,360
$377.4K
Cap Rate 7%
$269,543
$269.5K
Cap Rate 9%
$209,644
$209.6K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$28.8K $12.60/SF
− Vacancy
−$1.9K −$0.82/SF
EGI
$27.0K $11.78/SF
− OpEx
−$8.1K −$3.53/SF
NOI
$18.9K $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 Rate 5%
$377,360
Cap Rate 7%
$269,543
Cap Rate 9%
$209,644
Alternative Uses
Best Use
Multifamily LT 5
$269.5K
$235.9K – $314.5K
NOI $18,868 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$250.0K
$218.7K – $291.6K
NOI $17,497 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$452.2K
$395.7K – $527.6K
NOI $31,655 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own washer and dryer, and both units have dedicated outdoor space.
Where is this duplex located?
The property is located at 815 N 4th Street 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: 2,288‑square‑foot duplex on a 0.095‑acre lot; Two residential units, each with a separate washer and dryer; Upper unit has a deck; lower unit has two porches
