Updated Duplex Near Bde Maka
For Sale
$749,900
Pending
2508 W 39th Street, Minneapolis, MN 55410
Residential Income, Minneapolis, MN
Property Size3,070 SF
Lot Size0.16 Acres
Days on Market103
Property Features for 2508 W 39th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 3, Basement
Parking features
Garage - Detached
Exterior features
Brick/Stone, Stucco
Subdivision
Linden Hills
High school district
Minneapolis
Directions
CORNER 39TH AND SHERIDAN AVE SOUTH
Standard status
Pending
APN
0802824110019
Size
3,070 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14907
Utilities
Heating system
Forced Air
Building Details
Year built
1952
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(763) 682-3030
Listed By:
Jim Diorio
(952) 226-7700
Added: May 23
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
MLS# 7070805
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 1952 duplex contains 3,070 square feet on a 0.16-acre lot, with two residential units featuring hardwood flooring, fireplaces, spacious room arrangements, and abundant natural light. Exterior materials include brick/stone and stucco. Recent capital improvements include a roof replacement in 2024, new air conditioning serving both units in 2025, and furnace replacements for Unit 2508 in 2025 and Unit 2510 in 2024. Forced-air heating supports both residences, while a detached garage provides parking.
The property is located at 2508 W 39th Street in Minneapolis, near Bde Maka Ska and Thomas Beach. Walking and biking trails, parks, restaurants, coffee shops, shopping, public transportation, and a nearby bus stop are all identified in the surrounding area. The duplex configuration offers separate residential spaces within an established Southwest Minneapolis setting.
The property is located at 2508 W 39th Street in Minneapolis, near Bde Maka Ska and Thomas Beach. Walking and biking trails, parks, restaurants, coffee shops, shopping, public transportation, and a nearby bus stop are all identified in the surrounding area. The duplex configuration offers separate residential spaces within an established Southwest Minneapolis setting.
Key Highlights
- Duplex with 3,070 square feet on a 0.16‑acre lot
- New roof completed in 2024
- New A/C for both units installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,855
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$897,100
$897.1K
Cap Rate 7%
$640,786
$640.8K
Cap Rate 9%
$498,389
$498.4K
Market Conditions
NOI Build-Up for 3,070 SF
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.
Gross rent
$68.2K $22.20/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$64.1K $20.87/SF
− OpEx
−$19.2K −$6.26/SF
NOI
$44.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$897,100
Cap Rate 7%
$640,786
Cap Rate 9%
$498,389
Alternative Uses
Best Use
Multifamily LT 5
$640.8K
$560.7K – $747.6K
NOI $44,855 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,199 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$732.4K
$640.9K – $854.5K
NOI $51,271 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 55410, MN
21,352
Population
8,685
Households
2.5
Avg Household Size
40
Median Age
78%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
6,888
Density / Sq Mi
$144,973
Median Household Income
$77,518
Median Earnings
$1,622
Median Rent
$597,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units retain hardwood floors and fireplaces, with recent roof, cooling, and furnace improvements.
Where is this duplex located?
The property is located at 2508 W 39th Street Minneapolis, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Duplex with 3,070 square feet on a 0.16‑acre lot; New roof completed in 2024; New A/C for both units installed in 2025
