Central Bismarck Residential
For Sale
Contact for pricing
1017 N 7th St, Bismarck, ND 58501
Residential duplex in central Bismarck near State Capitol grounds.
Property Size2,136 SF
Price / SF$65.54
Days on Market1240
Property Features for 1017 N 7th St
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multifamily
Zoning
R10
Building Details
Year Built
1940
Units
2
Listing Agency:
The CRA Group
Listed By:
Brett Bina · License #10592
(701) 400-5373
Source:
Crexi
Added: Apr 13, 2023
Changed: Aug 13
Last Checked: Aug 29 at 4:09PM
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 The CRA Group
Investment Insights
Based on property information with market context.
This over-under residential duplex is located in central Bismarck, situated south of the State Capitol grounds and north of Bismarck High School. The property features two units: the upper unit includes 2 bedrooms and 1 bathroom, currently rented for $900 per month. The lower unit offers 1 bedroom and 1 bathroom, with a current rental income of $725 per month. The property is being sold in "AS IS" condition. The property size is 2136 square feet.
Key Highlights
- Central Bismarck location near State Capitol and Bismarck High School
- Duplex property offers immediate rental income potential
- Upper unit: 2‑bedroom, 1‑bathroom, currently rented for $900/month
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
$12,218
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
8.73%
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%
$244,360
$244.4K
Cap Rate 7%
$174,543
$174.5K
Cap Rate 9%
$135,756
$135.8K
Market Conditions
NOI Build-Up for 2,136 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
$24.1K $11.28/SF
− Vacancy
−$1.9K −$0.88/SF
EGI
$22.2K $10.40/SF
− OpEx
−$10.0K −$4.68/SF
NOI
$12.2K $5.72/SF
Area
Burleigh County, ND
Vacancy
7.80%
Lease Rate
$11.28 /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%
$244,360
Cap Rate 7%
$174,543
Cap Rate 9%
$135,756
Alternative Uses
Best Use
Multifamily LT 5
$201.7K
$176.5K – $235.4K
NOI $14,121 @ 7.0% cap · market cap 10.09%
Second Best
Apartment 5plus
$174.5K
$152.7K – $203.6K
NOI $12,218 @ 7.0% cap · market cap 8.73%
Theoretical Best
Office A
$508.3K
$444.8K – $593.0K
NOI $35,581 @ 7.0% cap · market cap 25.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
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 - Residential duplex in central Bismarck near State Capitol grounds.
Where is this duplex located?
The property is located at 1017 N 7th St Bismarck, ND.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Central Bismarck location near State Capitol and Bismarck High School; Duplex property offers immediate rental income potential; Upper unit: 2‑bedroom, 1‑bathroom, currently rented for $900/month
