1027 University Drive N, Fargo, ND 58102

$225,000
Property Type: Multi-Family Bedrooms: 6 Baths: 3 Square Footage: 2,480 Lot Size (sq. ft.): 6,992 Status: Active
Current Price: $225,000 List Date: 10/02/2025 Last Modified: 10/10/2025

Description

Dont miss out on this great investment property close to NDSU and downtown. The property is currently leased as a duplex with the main level and basement units rented together. They share the double garage and the washer/dryer located in the basement unit. The property can also be rented as three separate units as the basement unit can be locked off from the main floor unit and has a separate exterior entrance. The upper level unit has off street parking. Each of the three units has 2 bedrooms and 1 bathroom. City of Fargo sewer project has recently been completed in this area. Current leases have owner paying utilities.

More Information MLS# 6793861

Contract Information

Owner is an Agent?: No Auction?: No Status: Active Contingency: Inspection Current Price: $225,000 Original List Price: 225000 ListPrice: 225000 List Date: 2025-10-01

Office/Member Info

Association: FMR

General Property Information

Lot Measurement: Square Feet Multiple PIDs?: No Owner Occupied: No Year Built: 1913 Yearly/Seasonal: Yearly Zoning: Residential-Multi-Family Lot Dimensions: 50 x 140 Main Floor Total SqFt: 960 Below Grd Total SqFt: 800 Above Ground SqFt: 1680 Total Finished Sqft: 2380.00 Foundation Size: 800 Style: (MF) Duplex Up and Down Garage Stalls: 2 Bedrooms: 6 Baths Total: 3 Total SqFt: 2480

Location, Tax and Other Information

Legal Description: CHAPINS-HOBSONS SUB LOT 7 BLK 10 Listing City: Fargo Map Page: 999 Municipality: Fargo Zip Plus 4: 3548 Property ID Number: 01044001820000 Tax Year: 2024 Tax Amount: 5166.44 In Foreclosure?: No Potential Short Sale?: No Lender Owned?: No

Directions & Remarks

Public Remarks: Dont miss out on this great investment property close to NDSU and downtown. The property is currently leased as a duplex with the main level and basement units rented together. They share the double garage and the washer/dryer located in the basement unit. The property can also be rented as three separate units as the basement unit can be locked off from the main floor unit and has a separate exterior entrance. The upper level unit has off street parking. Each of the three units has 2 bedrooms and 1 bathroom. City of Fargo sewer project has recently been completed in this area. Current leases have owner paying utilities. Directions: 1027 University Dr N. Parking available in driveway or side streets.

Accessible

None: 1

Assessments

Assessment Balance: 14660.92 Assessment Installment: 2107.94 Tax With Assessments: 5217

Basement

Egress Windows: 1 Full: 1

Building Information

Finished SqFt Above Ground: 1680 Finished SqFt Below Ground: 700

Construction Status

Previously Owned: 1

Exterior

Metal: 1

Foundation

8 ft+ Pour: 1

Fuel

Electric: 1

Heating

Forced Air: 1

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: FMR Supra: 1

Miscellaneous Information

DP Resource: Yes Homestead: No

Owner Pays

Electricity: 1 Sewer: 1 Trash Collection: 1 Water: 1

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 24 x 24 Garage Square Feet: 576 Gravel Lot: 1

Sewer

City Sewer/Connected: 1

Stories

One and One Half: 1

Unit 1

Furnished?: No Lease Expiration Date: 2026-09-30 Leased?: Yes Level: Main Level Unit Number: 1 Monthly Rent: 710 Full Baths: 1 Total Rooms: 5 Annual Rent: 8520 Finished SqFt: 960 Monthly Expense: 2994 No. of Units Like This: 1 Total Baths: 1 Total Bedrooms: 2

Unit Details

Total Units: 3

Water

City Water/Connected: 1

Income and Expenses

Annual Caretaker Expense: 0 Annual Electric Expense: 3600 Annual Fuel Expense: 0 Annual Gross Expenses: 8980 Annual Gross Income: 27540 Annual Insurance Expense: 3000 Annual Maintenance Expense: 500 Annual Net Income: 18560 Annual Repair Expense: 500 Annual Trash Expense: 690 Annual Water/Sewer Expense: 690 Total Annual Expenses: 8980

Unit 1 Appliances

Microwave: 1 Range: 1 Refrigerator: 1

Unit 1 Cooling

Central: 1

Unit 2

Furnished?: No Lease Expiration Date: 2026-09-30 Leased?: Yes Level: Below Ground Unit Number: 2 Annual Rent: 8520 Finished SqFt: 700 Full Baths: 1 Monthly Expense: 2993 Monthly Rent: 710 No. of Units Like This: 1 Total Baths: 1 Total Bedrooms: 2 Total Rooms: 5

Unit 2 Appliances

Dryer: 1 Microwave: 1 Range: 1 Washer: 1

Unit 2 Cooling

Central: 1

Unit 3

Furnished?: No Lease Expiration Date: 2026-11-30 Leased?: Yes Level: 2nd Level Unit Number: 3 Annual Rent: 10500 Finished SqFt: 800 Full Baths: 1 Monthly Expense: 2993 Monthly Rent: 875 No. of Units Like This: 1 Total Baths: 1 Total Bedrooms: 2 Total Rooms: 5

Unit 3 Appliances

Microwave: 1 Range: 1 Refrigerator: 1

Unit 3 Cooling

Central: 1

Location Tax and Other Information

House Number: 1027 Street Name: University Street Suffix: Drive Street Direction Suffix: N Postal City: Fargo County: Cass State: ND Zip Code: 58102 Complex/Dev/Subdivision: Chapins - Hobson

Property Features

Accessible: None Basement: Egress Windows; Full Construction Status: Previously Owned Exterior: Metal Foundation: 8 ft+ Pour Fuel: Electric Heating: Forced Air Lock Box Type: Supra Owner Pays: Electricity; Sewer; Trash Collection; Water Parking Characteristics: Gravel Lot Sewer: City Sewer/Connected Stories: One and One Half Unit 1 Appliances: Microwave; Range; Refrigerator Unit 1 Cooling: Central Unit 2 Appliances: Dryer; Microwave; Range; Washer Unit 2 Cooling: Central Unit 3 Appliances: Microwave; Range; Refrigerator Unit 3 Cooling: Central Water: City Water/Connected
Listing Office: Park Co., REALTORS®
Last Updated: October - 10 - 2025
1027 University Drive N, Fargo, ND 58102- MLS# 6793861
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