Updated Duplex with Hardwood
For Sale
$459,900
3213 Minnehaha Avenue, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size3,370 SF
Lot Size0.20 Acres
Price / SF$136.47
Days on Market81
Property Features for 3213 Minnehaha Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 7, Bedroom 5, Bedroom 6, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 1, Basement, Bedroom 4
Exterior features
Wood
Subdivision
Adams Rgt In 2nd Add
High school district
Minneapolis
Directions
On Minnehaha and between E 32nd St and E 33rd St
Standard status
Active
APN
0102824140011
Size
3,370 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8389
Utilities
Heating system
Oil
Building Details
Year built
1905
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Paulo Mora
(952) 829-2900
Added: Jul 17
Changed: Sep 26
Last Checked: Oct 5 at 10:06PM
MLS# 7102970
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 3,370-square-foot duplex sits on a 0.2-acre lot and was built in 1905. The property includes original hardwood flooring, newer windows, fresh interior paint, and a recently replaced roof. Its room inventory includes three bathrooms and a basement, with a wood exterior and oil heating.
The property is located near light rail service, restaurants, distilleries, and coffee shops. The address is 3213 Minnehaha Avenue in Minneapolis, within ZIP Code 55406.
The property is located near light rail service, restaurants, distilleries, and coffee shops. The address is 3213 Minnehaha Avenue in Minneapolis, within ZIP Code 55406.
Key Highlights
- 3,370 square feet on a 0.2‑acre lot
- Duplex with three bathrooms and a basement
- Recently replaced roof, newer windows, and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,647
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
$812.9K
Cap Rate 7%
$580,671
$580.7K
Cap Rate 9%
$451,633
$451.6K
Market Conditions
NOI Build-Up for 3,370 SF
Gross rent
$78.5K $23.28/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$73.9K $21.93/SF
− OpEx
−$33.3K −$9.87/SF
NOI
$40.6K $12.06/SF
Area
ZIP 55406
Vacancy
5.80%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
Cap Rate 7%
$580,671
Cap Rate 9%
$451,633
Alternative Uses
Best Use
Multifamily LT 5
$623.9K
$545.9K – $727.9K
NOI $43,672 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$984.7K
$861.6K – $1.15M
NOI $68,931 @ 7.0% cap · market cap 14.99%
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
1,150
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near light rail with refreshed windows, paint, and roofing.
Where is this duplex located?
The property is located at 3213 Minnehaha Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 3,370 square feet on a 0.2‑acre lot; Duplex with three bathrooms and a basement; Recently replaced roof, newer windows, and fresh paint
