Two-Unit Duplex with
For Sale
$279,900
904 1st Street SE, Rochester, MN 55904
Residential Income, Rochester, MN
Property Size1,792 SF
Lot Size0.15 Acres
Price / SF$156.19
Days on Market146
Property Features for 904 1st Street SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 3, Bathroom 2, Basement
Parking features
Garage - Attached
Exterior features
Aluminum Siding
Subdivision
City Lands
Elementary school
Riverside Central
Middle school
Kellogg
High school
Century
High school district
Rochester
Directions
Center Street to 9th Avenue SE to 1st Street SE
Standard status
Active
APN
743634026535
Size
1,792 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4167
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1915
Roof type
Shingle
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Nathan Thorvilson
(651) 494-4000
Added: May 13
Changed: Oct 3
Last Checked: Oct 5 at 7:06PM
MLS# 7073583
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 1,792-square-foot duplex, built in 1915, contains two apartments arranged on separate levels. The main-floor residence offers two bedrooms and one bathroom, along with an unfinished basement, storage area, and in-unit laundry. The upper apartment has one bedroom, one bathroom, an open floor plan, and its own laundry. Each unit includes one garage stall, with additional off-street parking available. Aluminum siding, forced-air heat, and a shingle roof complete the property’s primary improvements.
Set on 0.154 acres at 904 1st Street SE in Rochester, the property is within walking distance of Mayo Clinic, Mayo Field, downtown activities, Riverfest, and river walking paths. The main-level resident has expressed interest in remaining, while the upper apartment is vacant and available for an owner-occupant or a new tenant.
Set on 0.154 acres at 904 1st Street SE in Rochester, the property is within walking distance of Mayo Clinic, Mayo Field, downtown activities, Riverfest, and river walking paths. The main-level resident has expressed interest in remaining, while the upper apartment is vacant and available for an owner-occupant or a new tenant.
Key Highlights
- 1,792 SF duplex with two separately configured apartments
- Main unit: 2 bedrooms, 1 bathroom, unfinished basement, storage, and in‑unit laundry
- Upper unit: 1 bedroom, 1 bathroom, open floor plan, and private laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,305
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,100
$386.1K
Cap Rate 7%
$275,786
$275.8K
Cap Rate 9%
$214,500
$214.5K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$29.0K $16.20/SF
− Vacancy
−$1.5K −$0.81/SF
EGI
$27.6K $15.39/SF
− OpEx
−$8.3K −$4.62/SF
NOI
$19.3K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,100
Cap Rate 7%
$275,786
Cap Rate 9%
$214,500
Alternative Uses
Best Use
Multifamily LT 5
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$242.0K
$211.8K – $282.4K
NOI $16,942 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$690.2K
$603.9K – $805.2K
NOI $48,313 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 55904, MN
29,813
Population
12,984
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
60.1 sq mi
ZIP Area
496
Density / Sq Mi
$76,434
Median Household Income
$47,250
Median Earnings
$1,253
Median Rent
$237,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Up-and-down configuration includes separate laundry, attached garage parking, and an unfinished basement serving the main-level apartment.
Where is this duplex located?
The property is located at 904 1st Street SE Rochester, MN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,792 SF duplex with two separately configured apartments; Main unit: 2 bedrooms, 1 bathroom, unfinished basement, storage, and in‑unit laundry; Upper unit: 1 bedroom, 1 bathroom, open floor plan, and private laundry
