2305 Garfield Avenue, Minneapolis, MN 55405
MULTI_FAMILY - Minneapolis, MN
- Added:
- May 28, 2026
- Days on Market:
- 34
- Last Refresh:
- Jun 30 at 9:06 am
Property Features for 2305 Garfield Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Basement, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4
- Parking features
- Driveway
- Exterior features
- Vinyl
- Standard status
- Active
- APN
- 3402924220172
- Size
- 1,585 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7345
Utilities
- Heating system
- Hot Water(Heating)
Building Details
- Year built
- 1905
- Roof type
- Shingle
Listing agent Lauren Lancaster (612) 821-7400
Listing office Keller Williams Realty Integrity Lakes 800 N Washington Ave N Ste 460, Minneapolis, MN (612) 821-7400
Listing date May 28, 2026
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.
Overview
Located on a mature, tree-lined street in Whittier, the property is described as moments from Lake of the Isles, the Walker Art Center, The Wedge Co-op, Spyhouse Coffee, and The Leaning Tower of Pizza. The public remarks note that tenants are moving out at the end of June. A sewer line cleanout has recently been completed and is reported to be in good condition.
This configuration can support an owner-occupant plan, such as living in one unit while renting the other, or operating the duplex as a two-unit rental. With tenants handling gas and electric and the owner managing water, sewer, and trash, the property is designed around separated systems that can simplify unit-level operations. The combination of independent utilities, off-street parking, and in-building laundry adds practical day-to-day value for residents and owners alike.
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 | $35.2k | $22.20 |
| − Vacancy | −$2.1k | −$1.33 |
| EGI | $33.1k | $20.87 |
| − OpEx | −$9.9k | −$6.26 |
| NOI | $23.2k | $14.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.286394
- Latitude
- 44.959786
