Duplex with Skylights and Fenced
New
For Sale
$365,000
2800 32nd Avenue S, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size1,850 SF
Lot Size0.09 Acres
Price / SF$197.30
Days on Market2
Property Features for 2800 32nd Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 1, Laundry Room, Bathroom 2
Parking features
Open, Garage - Detached
Fencing
Privacy
Subdivision
South Minneapolis Add
Lot features
Corner Lot
High school district
Minneapolis
Directions
31st Ave S to 38th St, East to Home
Standard status
Active
APN
3102923330041
Size
1,850 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5119
Utilities
Heating system
Forced Air
Amenities
shared laundry
Building Details
Year built
1900
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Richard S Webb
(952) 829-2900
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 9 at 4:06PM
MLS# 7154703
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 1,850-square-foot duplex, built in 1900, contains a main-floor apartment and an upper one-bedroom apartment. The upper unit has a front closet configured as an office area, operable skylights and a walk-in closet measuring 22 by 6 feet. The main floor includes hardwood flooring, original woodwork, a large kitchen with ample storage and bedrooms with built-in storage. Shared basement laundry is equipped with a commercial-grade washer and dryer.
The property occupies 0.09 acres in Minneapolis and includes a privacy-fenced rear yard, landscaped boulevards, a detached garage and open parking. Recent property work includes a roof installed in 2023, a water heater from 2017, new windows and exterior painting in 2026. A boiler permit dates to 2018.
The property occupies 0.09 acres in Minneapolis and includes a privacy-fenced rear yard, landscaped boulevards, a detached garage and open parking. Recent property work includes a roof installed in 2023, a water heater from 2017, new windows and exterior painting in 2026. A boiler permit dates to 2018.
Key Highlights
- Two‑apartment duplex with 1,850 square feet on a 0.09‑acre lot
- Upper apartment has one bedroom, operable skylights and a 22‑by‑6‑foot walk‑in closet
- Main‑floor apartment features hardwood flooring and original woodwork
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,974
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$479,480
$479.5K
Cap Rate 7%
$342,486
$342.5K
Cap Rate 9%
$266,378
$266.4K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$36.6K $19.80/SF
− Vacancy
−$2.4K −$1.29/SF
EGI
$34.2K $18.51/SF
− OpEx
−$10.3K −$5.55/SF
NOI
$24.0K $12.96/SF
Area
ZIP 55406
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$479,480
Cap Rate 7%
$342,486
Cap Rate 9%
$266,378
Alternative Uses
Best Use
Multifamily LT 5
$342.5K
$299.7K – $399.6K
NOI $23,974 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$318.8K
$278.9K – $371.9K
NOI $22,314 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$540.6K
$473.0K – $630.7K
NOI $37,841 @ 7.0% cap · market cap 10.37%
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
1,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
Median Home Value
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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 - The upper apartment features a walk-in closet, an office area and skylights that open.
Where is this duplex located?
The property is located at 2800 32nd Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑apartment duplex with 1,850 square feet on a 0.09‑acre lot; Upper apartment has one bedroom, operable skylights and a 22‑by‑6‑foot walk‑in closet; Main‑floor apartment features hardwood flooring and original woodwork
