Side-by-Side Duplex with
For Sale
$434,900
3116 Columbus Avenue, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size2,124 SF
Lot Size0.17 Acres
Price / SF$204.76
Days on Market138
Property Features for 3116 Columbus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Parking features
Garage - Detached
Exterior features
Vinyl
Subdivision
Chicago Lake Park Add
High school district
Minneapolis
Directions
From East 31st St, go SOUTH on Columbus Ave to home. Home will be on your RIGHT.
Standard status
Active
APN
0202824220199
Size
2,124 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6479
Utilities
Heating system
Forced Air
Amenities
private laundry
fenced yard
Building Details
Year built
1886
Roof type
Shingle
Listing Agency:
Bridge Realty, LLC
(952) 368-0021
Listed By:
Jamil Porte
(763) 273-6556
Added: May 21
Changed: Oct 3
Last Checked: Oct 5 at 5:06PM
MLS# 7078649
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 2,124-square-foot side-by-side duplex contains two units: one with 3 bedrooms and 2 bathrooms, and the other with 3 bedrooms and 1 bathroom. Both sides include private laundry and living areas with strong natural light. Unit 1 is vacant, while Unit 2 is occupied on a month-to-month rental arrangement.
The property sits on a 0.17-acre lot at 3116 Columbus Avenue in Minneapolis. Exterior features include vinyl siding, a shingle roof, forced-air heating, and a detached two-car garage. Three additional parking spaces are located behind the garage. A fenced yard provides outdoor space, and recent work includes a new roof and updated electrical service. Built in 1886, the duplex also includes a basement.
The property sits on a 0.17-acre lot at 3116 Columbus Avenue in Minneapolis. Exterior features include vinyl siding, a shingle roof, forced-air heating, and a detached two-car garage. Three additional parking spaces are located behind the garage. A fenced yard provides outdoor space, and recent work includes a new roof and updated electrical service. Built in 1886, the duplex also includes a basement.
Key Highlights
- Two‑unit side‑by‑side duplex with 3‑bedroom layouts on both sides
- Unit 1 is vacant; Unit 2 is rented month to month
- Unit configurations include 3 bedrooms and 2 bathrooms, and 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,033
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,660
$620.7K
Cap Rate 7%
$443,329
$443.3K
Cap Rate 9%
$344,811
$344.8K
Market Conditions
NOI Build-Up for 2,124 SF
Gross rent
$47.2K $22.20/SF
− Vacancy
−$2.8K −$1.33/SF
EGI
$44.3K $20.87/SF
− OpEx
−$13.3K −$6.26/SF
NOI
$31.0K $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%
$620,660
Cap Rate 7%
$443,329
Cap Rate 9%
$344,811
Alternative Uses
Best Use
Multifamily LT 5
$443.3K
$387.9K – $517.2K
NOI $31,033 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$407.2K
$356.3K – $475.1K
NOI $28,503 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$506.7K
$443.4K – $591.2K
NOI $35,472 @ 7.0% cap · market cap 8.16%
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
2,681
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
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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 - Each unit has private laundry, with one side vacant and the other leased month to month.
Where is this duplex located?
The property is located at 3116 Columbus Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with 3‑bedroom layouts on both sides; Unit 1 is vacant; Unit 2 is rented month to month; Unit configurations include 3 bedrooms and 2 bathrooms, and 3 bedrooms and 1 bathroom
