Updated Side-by-Side
For Sale
$489,900
305 Jackson Avenue N, Hopkins, MN 55343
Residential Income, Hopkins, MN
Property Size3,331 SF
Lot Size0.18 Acres
Price / SF$147.07
Days on Market46
Property Features for 305 Jackson Avenue N
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, Basement, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 5, Bathroom 1
Parking features
Garage - Attached, Driveway
Exterior features
Brick/Stone, Wood
Subdivision
Stevens Oakwood Park
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Medium
High school district
Hopkins
Directions
Excelsior Blvd. between Hyw. 100 and Hyw. 169 then North on Jackson Avenue to Property on right north of 2nd Street NE.
Standard status
Active
APN
1911721240069
Size
3,331 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9142
Utilities
Heating system
Forced Air
Building Details
Year built
1967
Building materials
Block
Listing Agency:
Chestnut Realty Inc
(952) 448-3344
Listed By:
Chad M Haasken
(952) 448-4925
Added: Jul 27
Changed: Sep 3
Last Checked: Sep 10 at 1:06PM
MLS# 7116520
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 updated duplex contains 3,331 square feet arranged as two side-by-side three-bedroom units. Each residence has a private entrance, yard, deck, and attached garage, while separate utilities support distinct unit operations. The property also includes basement space, driveway parking, forced-air heating, and a brick/stone and wood exterior over block construction.
Built in 1967 on 0.18 acres, the property is located in Hopkins, Minnesota. Shopping, parks, scenic trails, Meadowbrook Golf Course, and Downtown Hopkins are all described as being minutes away. The layout and private-unit features support either owner occupancy or a multifamily investment strategy.
Built in 1967 on 0.18 acres, the property is located in Hopkins, Minnesota. Shopping, parks, scenic trails, Meadowbrook Golf Course, and Downtown Hopkins are all described as being minutes away. The layout and private-unit features support either owner occupancy or a multifamily investment strategy.
Key Highlights
- Two side‑by‑side 3‑bedroom units within 3,331 square feet
- Private entrance, yard, deck, and attached garage for each unit
- Separate utilities for the two residences
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
$43,167
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
8.81%
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%
$863,340
$863.3K
Cap Rate 7%
$616,671
$616.7K
Cap Rate 9%
$479,633
$479.6K
Market Conditions
NOI Build-Up for 3,331 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
$66.0K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$61.7K $18.51/SF
− OpEx
−$18.5K −$5.55/SF
NOI
$43.2K $12.96/SF
Area
Hennepin County, MN
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 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%
$863,340
Cap Rate 7%
$616,671
Cap Rate 9%
$479,633
Alternative Uses
Best Use
Multifamily LT 5
$616.7K
$539.6K – $719.5K
NOI $43,167 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$556.2K
$486.7K – $648.9K
NOI $38,934 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$794.7K
$695.4K – $927.2K
NOI $55,630 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 three-bedroom units offer private outdoor space, attached garages, and separate utilities.
Where is this duplex located?
The property is located at 305 Jackson Avenue N Hopkins, MN.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two side‑by‑side 3‑bedroom units within 3,331 square feet; Private entrance, yard, deck, and attached garage for each unit; Separate utilities for the two residences
