Duplex with Attached
For Sale
$349,900
911 2nd Avenue S, Buffalo, MN 55313
MULTI_FAMILY - Buffalo, MN
Property Size2,388 SF
Lot Size0.25 Acres
Price / SF$146.52
Days on Market73
Property Features for 911 2nd Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 4
Parking features
Garage - Attached, Driveway
Exterior features
Vinyl
Subdivision
Lakeview Heights 2nd Add
High school district
Buffalo-Hanover-Montrose
Directions
From Hwy 55 in Buffalo, Minnesota, south on Hwy 25/Central Ave, right on Settlers Parkway, left on 2nd Ave S to property on right.
Standard status
Active
APN
103034001120
Size
2,388 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4576
Utilities
Heating system
Baseboard, Oil
Amenities
in-unit laundry
shared garage
Building Details
Year built
1973
Building materials
Block
Listing Agency:
Bridge Realty, LLC
(952) 368-0021
Listed By:
Shane J Martin
(952) 368-0021
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 19 at 2:06AM
MLS# 7089211
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 2,388-square-foot duplex, built in 1973, contains two separate residences with individual entrances and in-unit laundry. The upper unit includes 3 bedrooms and 2 bathrooms, while the lower unit has 1 bedroom, a den, and 2 bathrooms. Both units feature updated flooring and additional interior improvements. The property also includes an attached shared garage, driveway parking, vinyl exterior siding, and baseboard and oil heating.
Recent exterior work includes a roof, siding, and garage door completed in 2024. The property occupies 0.2504 acres at 911 2nd Avenue S in Buffalo, Minnesota. Its location provides access to downtown, schools, parks, shopping, restaurants, and lakes, with convenient connections to Hwy 55 and Hwy 25. The duplex is fully leased, with established lease arrangements for both units.
Recent exterior work includes a roof, siding, and garage door completed in 2024. The property occupies 0.2504 acres at 911 2nd Avenue S in Buffalo, Minnesota. Its location provides access to downtown, schools, parks, shopping, restaurants, and lakes, with convenient connections to Hwy 55 and Hwy 25. The duplex is fully leased, with established lease arrangements for both units.
Key Highlights
- 2,388‑square‑foot duplex on a 0.2504‑acre lot
- Upper unit offers 3 bedrooms, 2 bathrooms, and in‑unit laundry
- Lower unit includes 1 bedroom plus den, 2 bathrooms, and in‑unit laundry
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
$32,046
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
9.16%
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%
$640,920
$640.9K
Cap Rate 7%
$457,800
$457.8K
Cap Rate 9%
$356,067
$356.1K
Market Conditions
NOI Build-Up for 2,388 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
$62.2K $26.04/SF
− Vacancy
−$3.9K −$1.64/SF
EGI
$58.3K $24.40/SF
− OpEx
−$26.2K −$10.98/SF
NOI
$32.0K $13.42/SF
Area
Wright County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$640,920
Cap Rate 7%
$457,800
Cap Rate 9%
$356,067
Alternative Uses
Best Use
Multifamily LT 5
$498.4K
$436.1K – $581.5K
NOI $34,890 @ 7.0% cap · market cap 9.97%
Second Best
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,046 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$569.7K
$498.5K – $664.7K
NOI $39,881 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 55313, MN
24,406
Population
9,445
Households
2.6
Avg Household Size
40
Median Age
31%
College-Educated
94%
High-School Grad
107.7 sq mi
ZIP Area
227
Density / Sq Mi
$93,471
Median Household Income
$53,867
Median Earnings
$1,150
Median Rent
$321,000
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 - Fully leased two-unit property with separate entrances, in-unit laundry, and recent exterior improvements.
Where is this duplex located?
The property is located at 911 2nd Avenue S Buffalo, MN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,388‑square‑foot duplex on a 0.2504‑acre lot; Upper unit offers 3 bedrooms, 2 bathrooms, and in‑unit laundry; Lower unit includes 1 bedroom plus den, 2 bathrooms, and in‑unit laundry
