Duplex With Detached
For Sale
$159,900
822 W Maple Avenue, Fergus Falls, MN 56537
MULTI_FAMILY - Fergus Falls, MN
Property Size1,447 SF
Lot Size0.22 Acres
Price / SF$110.50
Days on Market211
Property Features for 822 W Maple Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2
Parking features
Garage - Detached, Driveway
Exterior features
Vinyl
Subdivision
Wheeler & Rawsons 3rd Add
High school district
Fergus Falls
Directions
Head W onto Lincoln Ave and turn N onto 1st Ave. Then turn W onto Maple Ave to the property.
Standard status
Active
APN
71003991370000
Size
1,447 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1998
Utilities
Heating system
Forced Air
Building Details
Year built
1928
Building materials
Frame
Roof type
Shingle
Listing Agency:
Keller Williams Realty Professionals
(218) 454-4300
Listed By:
Ryan Hanson · License #1104
(218) 454-4300
Added: Jan 15
Changed: Aug 10
Last Checked: Aug 14 at 10:06PM
MLS# 7008996
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.
Investment Insights
Based on property information with market context.
This duplex at 822 W Maple Avenue includes a main unit with an upper unit configuration and a separate lower-level 2-bedroom apartment. The upper unit features 3 bedrooms, while the lower level unit includes a separate 2-bedroom apartment, creating two distinct living spaces within one property. The exterior is finished with vinyl siding, and the building is frame construction. Heating is provided by forced air, and the roof is shingled.
The property sits on a 0.22-acre lot and includes a detached single garage with driveway parking. Built in 1928, the duplex totals 1,447 square feet.
The layout supports separate rental arrangements, with multiple bedrooms across both units and a lower-level apartment configuration. This configuration can be appealing for buyers looking for a duplex setup with defined unit separation and low-maintenance exterior materials.
The property sits on a 0.22-acre lot and includes a detached single garage with driveway parking. Built in 1928, the duplex totals 1,447 square feet.
The layout supports separate rental arrangements, with multiple bedrooms across both units and a lower-level apartment configuration. This configuration can be appealing for buyers looking for a duplex setup with defined unit separation and low-maintenance exterior materials.
Key Highlights
- Duplex layout with upper unit featuring 3 bedrooms and a separate lower‑level 2‑bedroom apartment
- 0.22‑acre lot with a detached single garage and driveway parking
- 1,447 SF duplex with frame construction
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
$12,124
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
7.58%
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%
$242,480
$242.5K
Cap Rate 7%
$173,200
$173.2K
Cap Rate 9%
$134,711
$134.7K
Market Conditions
NOI Build-Up for 1,447 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
$18.2K $12.60/SF
− Vacancy
−$912 −$0.63/SF
EGI
$17.3K $11.97/SF
− OpEx
−$5.2K −$3.59/SF
NOI
$12.1K $8.38/SF
Area
Otter Tail County, MN
Vacancy
5.00%
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%
$242,480
Cap Rate 7%
$173,200
Cap Rate 9%
$134,711
Alternative Uses
Best Use
Multifamily LT 5
$173.2K
$151.6K – $202.1K
NOI $12,124 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$160.3K
$140.2K – $187.0K
NOI $11,218 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$314.3K
$275.1K – $366.7K
NOI $22,004 @ 7.0% cap · market cap 13.76%
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
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 56537, MN
19,230
Population
9,498
Households
2
Avg Household Size
44
Median Age
30%
College-Educated
96%
High-School Grad
283.4 sq mi
ZIP Area
68
Density / Sq Mi
$62,279
Median Household Income
$40,272
Median Earnings
$840
Median Rent
$223,000
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 - Duplex with upper 3-bedroom unit and lower 2-bedroom unit, vinyl exterior, and a detached garage on a small lot.
Where is this duplex located?
The property is located at 822 W Maple Avenue Fergus Falls, MN.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Duplex layout with upper unit featuring 3 bedrooms and a separate lower‑level 2‑bedroom apartment; 0.22‑acre lot with a detached single garage and driveway parking; 1,447 SF duplex with frame construction
