Duplex with Corner-Lot
New
For Sale
$325,000
901 College Street N, Fargo, ND 58102
MULTI_FAMILY - Fargo, ND
Property Size2,704 SF
Lot Size0.16 Acres
Price / SF$120.19
Days on Market2
Property Features for 901 College Street N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 1
Parking features
Parking Lot
Exterior features
Stucco
Subdivision
Kirkhams 1st
Lot features
Corner Lot
High school
Fargo Davies
High school district
Fargo
Directions
Turn left onto 12th Ave N. Turn right onto College St Destination will be on the left.
Standard status
Active
APN
01162000650000
Size
2,704 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3276
Utilities
Heating system
Forced Air
Building Details
Year built
1919
Roof type
Shingle
Listing Agency:
REALTY XPERTS
(701) 356-5300
Listed By:
Allie Lott
(701) 552-1410
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 8 at 10:06PM
MLS# 7123644
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 2,704-square-foot duplex, built in 1919, contains two residential units with a combined five bedrooms and three bathrooms. The main-level residence includes a foyer, hardwood flooring, French doors, living and dining rooms, an updated kitchen, two bedrooms, and a full bath. The upper unit adds its own living room, kitchen, two bedrooms, and bathroom. The lower level provides additional living space, a kitchenette, full bath, and laundry area.
The property occupies 0.1607 acres at 901 College Street N in Fargo, with a corner-lot setting and off-street parking. It is located just blocks from NDSU. Exterior construction is stucco, with forced-air heating and a shingle roof.
The property occupies 0.1607 acres at 901 College Street N in Fargo, with a corner-lot setting and off-street parking. It is located just blocks from NDSU. Exterior construction is stucco, with forced-air heating and a shingle roof.
Key Highlights
- 2,704 SF duplex on a 0.1607‑acre corner lot
- Two units with a combined 5 bedrooms and 3 bathrooms
- Main level includes hardwood floors, French doors, updated kitchen, dining room, and 2 bedrooms
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 residential units offer distinct living and kitchen areas, plus flexible lower-level space with a kitchenette, bath, and laundry.
Where is this duplex located?
The property is located at 901 College Street 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 SF duplex on a 0.1607‑acre corner lot; Two units with a combined 5 bedrooms and 3 bathrooms; Main level includes hardwood floors, French doors, updated kitchen, dining room, and 2 bedrooms
