Duplex with Private
New
For Sale
$394,900
2406 Pierce Street NE, Minneapolis, MN 55418
Residential Income, Minneapolis, MN
Property Size1,900 SF
Lot Size0.15 Acres
Price / SF$207.84
Days on Market3
Property Features for 2406 Pierce Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 1, Laundry Room, Bathroom 2, Bedroom 4
Parking features
Driveway
Patio and Porch features
Deck
Subdivision
Lincoln Street Sup East Side Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
35W to Johnson St NE, N to 23rd Ave NE, W to Pierce St NE, N to home.
Standard status
Active
APN
1202924310077
Size
1,900 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6304
Utilities
Heating system
Oil
Amenities
modern kitchens
in-unit laundry
central air
decks
Building Details
Year built
1900
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Jake Bentley
(612) 821-7400
Added: Oct 7
Changed: Oct 9
Last Checked: Oct 9 at 5:06PM
MLS# 7152249
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 Minneapolis duplex contains two apartments, each with three bedrooms and one bathroom. The kitchens are updated, and each unit has in-unit laundry and central air. Three decks serve the property, including two private decks, with one opening directly from the upper apartment’s kitchen. The building dates to 1900 and contains 1,900 square feet on a 0.151-acre lot.
The property is in Northeast Minneapolis near Windom Park, with restaurants, breweries, shops, parks, and bike routes in the surrounding area. Downtown Minneapolis is also nearby. Driveway parking is available. Both apartments are currently leased, and the leases can be ended with 30 days’ notice.
The property is in Northeast Minneapolis near Windom Park, with restaurants, breweries, shops, parks, and bike routes in the surrounding area. Downtown Minneapolis is also nearby. Driveway parking is available. Both apartments are currently leased, and the leases can be ended with 30 days’ notice.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 bathroom
- 1,900 square feet on a 0.151‑acre lot
- Three decks, including two private decks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,760
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,200
$555.2K
Cap Rate 7%
$396,571
$396.6K
Cap Rate 9%
$308,444
$308.4K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$42.2K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.7K $20.87/SF
− OpEx
−$11.9K −$6.26/SF
NOI
$27.8K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,200
Cap Rate 7%
$396,571
Cap Rate 9%
$308,444
Alternative Uses
Best Use
Multifamily LT 5
$396.6K
$347.0K – $462.7K
NOI $27,760 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$364.2K
$318.7K – $425.0K
NOI $25,497 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$453.3K
$396.6K – $528.9K
NOI $31,731 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
Median Home Value
Check the figures for this property
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 - Both apartments offer three bedrooms, in-unit laundry, central air, and outdoor deck space.
Where is this duplex located?
The property is located at 2406 Pierce Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 bathroom; 1,900 square feet on a 0.151‑acre lot; Three decks, including two private decks
