Duplex With Flexible Lower
For Sale
$325,000
901 College St N, Fargo, ND 58102
Two-unit property with off-street parking, an updated kitchen, and additional lower-level living space.
Property Size2,704 SF
Price / SF$120.19
Days on Market14
Property Features for 901 College St N
General Information
Standard status
Active
Size
2,704 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,276
Listing Agency:
REALTY XPERTS
(701) 388-5270
Listed By:
Allie Lott
(701) 388-5270
Source:
Exprealty
Added: Aug 7
Changed: Aug 18
Last Checked: Aug 19 at 1:34PM
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 REALTY XPERTS
Investment Insights
Based on property information with market context.
This 2,704-square-foot duplex offers two distinct residential units along with supplementary lower-level space. The main-level residence includes a foyer, hardwood flooring, French doors, a living room, formal dining area, updated kitchen, two bedrooms, and a full bathroom. A separate upper-level unit adds its own living room, kitchen, two bedrooms, and full bathroom.
The lower level provides a kitchenette, full bathroom, laundry area, and additional living space. The property occupies a corner lot with substantial off-street parking and is located just blocks from NDSU in Fargo. Its combination of period interior details, updated kitchen space, two-unit configuration, and flexible lower-level areas supports both owner-occupant and rental-oriented use.
The lower level provides a kitchenette, full bathroom, laundry area, and additional living space. The property occupies a corner lot with substantial off-street parking and is located just blocks from NDSU in Fargo. Its combination of period interior details, updated kitchen space, two-unit configuration, and flexible lower-level areas supports both owner-occupant and rental-oriented use.
Key Highlights
- 2,704‑square‑foot duplex with two separate residential units
- Main‑level unit includes 2 bedrooms, formal dining, hardwood floors, and an updated kitchen
- Upper‑level unit has its own living room, kitchen, 2 bedrooms, and full bathroom
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
$24,423
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
7.51%
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%
$488,460
$488.5K
Cap Rate 7%
$348,900
$348.9K
Cap Rate 9%
$271,367
$271.4K
Market Conditions
NOI Build-Up for 2,704 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
$37.3K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$34.9K $12.90/SF
− OpEx
−$10.5K −$3.87/SF
NOI
$24.4K $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%
$488,460
Cap Rate 7%
$348,900
Cap Rate 9%
$271,367
Alternative Uses
Best Use
Multifamily LT 5
$348.9K
$305.3K – $407.1K
NOI $24,423 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$319.4K
$279.5K – $372.6K
NOI $22,358 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$586.6K
$513.3K – $684.3K
NOI $41,060 @ 7.0% cap · market cap 12.63%
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
1,431
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 - Two-unit property with off-street parking, an updated kitchen, and additional lower-level living space.
Where is this duplex located?
The property is located at 901 College St N Fargo, ND.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,704‑square‑foot duplex with two separate residential units; Main‑level unit includes 2 bedrooms, formal dining, hardwood floors, and an updated kitchen; Upper‑level unit has its own living room, kitchen, 2 bedrooms, and full bathroom
