Duplex with In-Unit
For Sale
$255,000
910-912 32nd Street N, Fargo, ND 58102
MULTI_FAMILY - Fargo, ND
Property Size2,016 SF
Lot Size0.17 Acres
Price / SF$126.49
Days on Market59
Property Features for 910-912 32nd Street N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 5
Exterior features
Vinyl
Subdivision
Stuart Hilleboe
High school district
Fargo
Directions
Take 12th Ave N (Exit 67) ? go east ? turn north on 32nd St N ? arrive at 910-912.
Standard status
Active
APN
01126000590000
Size
2,016 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3021
Utilities
Heating system
Baseboard
Amenities
separate entrances
in unit laundry
Building Details
Year built
1977
Listing Agency:
eXp Realty (3788 FGO)
(701) 354-2725
Listed By:
Derek Brandenburg
(612) 751-9303
Added: Jun 17
Changed: Aug 3
Last Checked: Aug 14 at 10:06PM
MLS# 7090219
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 offers a practical two-unit layout with separate entrances and in-unit laundry. Each side features three bedrooms and one bathroom, with comfortable living spaces and functional layouts designed for easy day-to-day living. Exterior finishes include vinyl, and heating is provided by baseboard systems. The property was built in 1977.
The duplex is located at 910-912 32nd Street N in Fargo, ND, close to NDSU campus. Off-street parking is available, supporting tenant convenience and everyday access.
With a total building size of 2,016 square feet and a lot size of 0.174 acres, this property is set up for buyers looking for a straightforward duplex configuration with dual-unit privacy and laundry in each unit.
The duplex is located at 910-912 32nd Street N in Fargo, ND, close to NDSU campus. Off-street parking is available, supporting tenant convenience and everyday access.
With a total building size of 2,016 square feet and a lot size of 0.174 acres, this property is set up for buyers looking for a straightforward duplex configuration with dual-unit privacy and laundry in each unit.
Key Highlights
- Two‑unit duplex with separate entrances
- In‑unit laundry on both sides
- Each side includes three bedrooms and one 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
$18,209
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
7.14%
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%
$364,180
$364.2K
Cap Rate 7%
$260,129
$260.1K
Cap Rate 9%
$202,322
$202.3K
Market Conditions
NOI Build-Up for 2,016 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
$27.8K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$26.0K $12.90/SF
− OpEx
−$7.8K −$3.87/SF
NOI
$18.2K $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%
$364,180
Cap Rate 7%
$260,129
Cap Rate 9%
$202,322
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,209 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$238.1K
$208.4K – $277.8K
NOI $16,669 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$437.3K
$382.7K – $510.2K
NOI $30,613 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
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 - Each side of this duplex offers three bedrooms, in-unit laundry, and separate entrances with off-street parking.
Where is this duplex located?
The property is located at 910-912 32nd Street N Fargo, ND.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit duplex with separate entrances; In‑unit laundry on both sides; Each side includes three bedrooms and one bathroom
