Updated Duplex with Detached Two-Car
1503 Washington Street NE Minneapolis, MN 55413
1503 Washington Street NE, Minneapolis, MN, 55413
$590,000
Pending
For Sale
$590,000
Pending
MULTI_FAMILY - Minneapolis, MN
Property Size2,600 SF
Lot Size0.13 Acres
Days on Market33
Property Features for 1503 Washington Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Basement, Bedroom 2
- Parking features
- Garage - Detached, Driveway
- Exterior features
- Wood
- Standard status
- Pending
- APN
- 1402924120087
- Size
- 2,600 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8236
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1902
Listing Agency
RE/MAX Results
(651) 317-2200
6041 Main St., Suite C, Eden Prairie, MN
Listed by
Jeneane Brackett
(952) 829-2900
Added: Jun 16 Checked: Jul 18 at 5:06 am
MLS# 7093861
Listing URL
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 has been beautifully updated while preserving classic character. The main-floor unit offers three bedrooms and one bathroom, with an excellent layout, maple hardwood floors, natural woodwork, stained glass accents, and an updated kitchen with stainless steel appliances. The upstairs unit also has three bedrooms and one bathroom, with a spacious open-concept layout and contemporary finishes designed around abundant natural light.
A full basement supports shared laundry and includes a 3/4 bath. There is also a large unfinished attic that offers expansion potential. Additional exterior and living-space amenities include a charming front porch, a spacious backyard, and a detached two-car garage.
With a total size of approximately 2,600 square feet on a 0.13-acre lot, this property is a practical fit for buyers seeking an owner-occupant arrangement or a rental setup with two separate, renovated apartments. Situated in Northeast Minneapolis, it is described as minutes from the University of Minnesota, downtown Minneapolis, restaurants and breweries, and nearby parks. The updates and flexible unfinished space make it well-suited for buyers looking to move in and adapt over time.
A full basement supports shared laundry and includes a 3/4 bath. There is also a large unfinished attic that offers expansion potential. Additional exterior and living-space amenities include a charming front porch, a spacious backyard, and a detached two-car garage.
With a total size of approximately 2,600 square feet on a 0.13-acre lot, this property is a practical fit for buyers seeking an owner-occupant arrangement or a rental setup with two separate, renovated apartments. Situated in Northeast Minneapolis, it is described as minutes from the University of Minnesota, downtown Minneapolis, restaurants and breweries, and nearby parks. The updates and flexible unfinished space make it well-suited for buyers looking to move in and adapt over time.
Key Highlights
- Updated duplex in Northeast Minneapolis with a detached 2‑car garage and driveway parking
- Built in 1902; exterior features include wood
- Main‑floor unit: 3 bedrooms, 1 bathroom, maple hardwood floors, and an updated kitchen with stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.7k | $22.20 |
| − Vacancy | −$3.5k | −$1.33 |
| EGI | $54.3k | $20.87 |
| − OpEx | −$16.3k | −$6.26 |
| NOI | $38.0k | $14.61 |
2,600 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$542.7K
$474.9K – $633.1K
NOI $37,988 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$498.4K
$436.1K – $581.5K
NOI $34,891 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$620.3K
$542.8K – $723.7K
NOI $43,421 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Move-in-ready duplex featuring two renovated 3-bedroom units, basement laundry, and a detached two-car garage.
Where is this duplex located?
The property is located at 1503 Washington Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Updated duplex in Northeast Minneapolis with a detached 2‑car garage and driveway parking; Built in 1902; exterior features include wood; Main‑floor unit: 3 bedrooms, 1 bathroom, maple hardwood floors, and an updated kitchen with stainless steel appliances
