Remodeled Two-Unit
For Sale
$234,900
2219 29th Avenue N, Minneapolis, MN 55411
Residential Income, Minneapolis, MN
Property Size1,599 SF
Lot Size0.03 Acres
Price / SF$146.90
Days on Market157
Property Features for 2219 29th Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Basement, Bedroom 2, Bathroom 1, Bathroom 2
Subdivision
Penn Ave Add
High school district
Minneapolis
Directions
PENN TO 29TH AND WEST TO HOME
Standard status
Active
APN
0802924440195
Size
1,599 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4591
Utilities
Heating system
Baseboard, Forced Air
Building Details
Year built
1904
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Lexi Clercx
(612) 600-6000
Added: May 6
Changed: Oct 9
Last Checked: Oct 9 at 11:06AM
MLS# 7069635
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 1,599-square-foot duplex in Minneapolis contains two vertically arranged residences on a 0.03-acre lot. The main-floor unit has hardwood flooring, built-in features, white shaker cabinets, quartz counters, stainless steel appliances, one bedroom and a full bathroom. Upstairs, the two-bedroom residence includes hardwood floors and an updated full bath with a tiled shower surround. Utilities are separately metered for each unit.
Built in 1904, the property has baseboard and forced-air heating. Its location provides access to parks, shopping, dining and commuter routes.
Built in 1904, the property has baseboard and forced-air heating. Its location provides access to parks, shopping, dining and commuter routes.
Key Highlights
- Two‑unit duplex with 1,599 square feet of living area
- Main‑floor residence features one bedroom and a full bath
- Upper unit offers two bedrooms and an updated tiled‑shower bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,458
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,160
$429.2K
Cap Rate 7%
$306,543
$306.5K
Cap Rate 9%
$238,422
$238.4K
Market Conditions
NOI Build-Up for 1,599 SF
Gross rent
$41.6K $26.04/SF
− Vacancy
−$2.6K −$1.64/SF
EGI
$39.0K $24.40/SF
− OpEx
−$17.6K −$10.98/SF
NOI
$21.5K $13.42/SF
Area
Minneapolis, 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 Rate 5%
$429,160
Cap Rate 7%
$306,543
Cap Rate 9%
$238,422
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.0K – $389.4K
NOI $23,363 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$306.5K
$268.2K – $357.6K
NOI $21,458 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$381.5K
$333.8K – $445.1K
NOI $26,704 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own utilities, with distinct one- and two-bedroom layouts.
Where is this duplex located?
The property is located at 2219 29th Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,599 square feet of living area; Main‑floor residence features one bedroom and a full bath; Upper unit offers two bedrooms and an updated tiled‑shower bathroom
