Updated Duplex on Oversized
New
For Sale
$360,000
8517 Davenport Street NE, Blaine, MN 55449
Residential Income, Blaine, MN
Property Size1,120 SF
Lot Size0.41 Acres
Price / SF$321.43
Days on Market5
Property Features for 8517 Davenport Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Single Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Exterior features
Vinyl
Subdivision
Mary Elizabeth Add
High school district
Spring Lake Park
Directions
HWY 65 TO 85TH AVE. EAST TO DAVENPORT ST. NE. NORTH TO HOME
Standard status
Active
APN
323123440016
Size
1,120 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3543
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Listing Agency:
Get You Moved Realty
(763) 213-1410
Listed By:
Doug Schuster
(763) 742-7653
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 4:06AM
MLS# 7128310
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 contains 1,120 square feet and was built in 1950. The property has two bedrooms and two bathrooms, vinyl exterior siding, and forced-air heating. Recent work includes a new roof and siding, along with a patio or deck and an asphalt driveway, all completed in 2025.
Both sides are currently leased on a month-to-month basis. The property occupies 0.41 acres at 8517 Davenport Street NE in Blaine, Minnesota, with shops nearby. The combination of two leased units, recent exterior improvements, and a sizable parcel provides a clear overview of the property’s current configuration.
Both sides are currently leased on a month-to-month basis. The property occupies 0.41 acres at 8517 Davenport Street NE in Blaine, Minnesota, with shops nearby. The combination of two leased units, recent exterior improvements, and a sizable parcel provides a clear overview of the property’s current configuration.
Key Highlights
- Duplex with 1,120 square feet of building area
- 0.41‑acre lot in Blaine, MN
- Both units currently leased month to month
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
$14,669
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
4.07%
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%
$293,380
$293.4K
Cap Rate 7%
$209,557
$209.6K
Cap Rate 9%
$162,989
$163.0K
Market Conditions
NOI Build-Up for 1,120 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
$22.2K $19.80/SF
− Vacancy
−$1.2K −$1.09/SF
EGI
$21.0K $18.71/SF
− OpEx
−$6.3K −$5.61/SF
NOI
$14.7K $13.10/SF
Area
ZIP 55449
Vacancy
5.50%
Lease Rate
$19.80 /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%
$293,380
Cap Rate 7%
$209,557
Cap Rate 9%
$162,989
Alternative Uses
Best Use
Multifamily LT 5
$209.6K
$183.4K – $244.5K
NOI $14,669 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$186.2K
$162.9K – $217.3K
NOI $13,035 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$331.7K
$290.3K – $387.0K
NOI $23,222 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 55449, MN
33,321
Population
11,824
Households
2.8
Avg Household Size
36
Median Age
47%
College-Educated
96%
High-School Grad
21.4 sq mi
ZIP Area
1,557
Density / Sq Mi
$128,750
Median Household Income
$61,714
Median Earnings
$1,723
Median Rent
$422,600
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 - Both units are leased month to month, with recent roof, siding, patio, deck, and driveway improvements.
Where is this duplex located?
The property is located at 8517 Davenport Street NE Blaine, MN.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Duplex with 1,120 square feet of building area; 0.41‑acre lot in Blaine, MN; Both units currently leased month to month
