Duplex with Off-Street
For Sale
$354,900
926 2nd St NW, Rochester, MN 55901
Two residential units feature two-bedroom, one-bath layouts with on-site parking.
Property Size2,016 SF
Price / SF$176.04
Days on Market44
Property Features for 926 2nd St NW
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1915
Listing Agency:
Re/Max Results
(507) 272-9059
Listed By:
Travis Brevig · License #40416867
Source:
Vibemn
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 31 at 6:31PM
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 Re/Max Results
Investment Insights
Based on property information with market context.
This duplex contains two residential units, with each residence arranged as a two-bedroom, one-bath home. The property encompasses 2,016 square feet and was constructed in 1915. Off-street parking is provided on site for residents.
Located at 926 2nd St NW in Rochester, Minnesota, the property is near Saint Marys and Mayo Clinic. Its two-unit configuration, established construction, and separate residential layouts define the asset’s physical profile.
Located at 926 2nd St NW in Rochester, Minnesota, the property is near Saint Marys and Mayo Clinic. Its two-unit configuration, established construction, and separate residential layouts define the asset’s physical profile.
Key Highlights
- Two residential units, each with two bedrooms and one bathroom
- 2,016 square feet of property size
- Off‑street parking included
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
$21,718
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
6.12%
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%
$434,360
$434.4K
Cap Rate 7%
$310,257
$310.3K
Cap Rate 9%
$241,311
$241.3K
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
$32.7K $16.20/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$31.0K $15.39/SF
− OpEx
−$9.3K −$4.62/SF
NOI
$21.7K $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 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%
$434,360
Cap Rate 7%
$310,257
Cap Rate 9%
$241,311
Alternative Uses
Best Use
Multifamily LT 5
$310.3K
$271.5K – $362.0K
NOI $21,718 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$272.3K
$238.3K – $317.7K
NOI $19,060 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$776.5K
$679.4K – $905.9K
NOI $54,353 @ 7.0% cap · market cap 15.32%
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
1,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
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 - Two residential units feature two-bedroom, one-bath layouts with on-site parking.
Where is this duplex located?
The property is located at 926 2nd St NW Rochester, MN.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Two residential units, each with two bedrooms and one bathroom; 2,016 square feet of property size; Off‑street parking included
