Updated Duplex with Expansive
For Sale
$385,000
3307 29th Avenue S, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size1,721 SF
Lot Size0.15 Acres
Price / SF$223.71
Days on Market15
Property Features for 3307 29th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Laundry Room, Bedroom 3, Bedroom 2, Bedroom 1, Basement, Bathroom 1
Parking features
Covered, Driveway
Patio and Porch features
Porch
Subdivision
Rollins 2nd Add
Lot features
Public Transit (w/in 6 blks), Irregular Lot, Tree Coverage - Light
High school district
Minneapolis
Directions
Take MN-55 E/Hiawatha Ave to E 32nd St. Follow E 32nd St and Minnehaha Ave to E 33rd St.
Standard status
Active
APN
0102824140176
Size
1,721 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5741
Utilities
Heating system
Hot Water(Heating), Radiant, Oil, Baseboard
Amenities
backyard
firepit
in-unit laundry
private entrances
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Keller Williams Realty Integrity
(952) 938-6100
Listed By:
Nicoli Holm · License #40553866
(612) 998-8959
Added: Sep 21
Changed: Sep 30
Last Checked: Oct 5 at 8:06PM
MLS# 7059135
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 1900-built duplex contains 1,721 square feet on a 0.15-acre lot, with two separate residences, private entrances, individual laundry areas, and separate utilities. Both units include hardwood flooring, generous bedrooms, and kitchens remodeled in 2019/2020 with granite counters, stainless steel appliances, tile backsplashes, recessed lighting, and updated cabinetry. A covered driveway, front porch, basement, and substantial rear yard add practical utility and outdoor space. Heating includes oil, hot water, radiant, and baseboard systems.
The property is located at 3307 29th Avenue S in Minneapolis, near a city-maintained green space. It is served by a bus line and sits two short blocks from light rail and approximately three blocks from Lake Street. A new roof was completed in 2022, with additional exterior work including updated siding, fascia, soffits, gutters, and the front porch.
The property is located at 3307 29th Avenue S in Minneapolis, near a city-maintained green space. It is served by a bus line and sits two short blocks from light rail and approximately three blocks from Lake Street. A new roof was completed in 2022, with additional exterior work including updated siding, fascia, soffits, gutters, and the front porch.
Key Highlights
- Two residences within a 1,721 square foot duplex
- 0.15‑acre lot with an expansive rear yard beside a city‑maintained green space
- Kitchens updated in 2019/2020 with granite, stainless appliances, tile backsplashes, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,303
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,060
$446.1K
Cap Rate 7%
$318,614
$318.6K
Cap Rate 9%
$247,811
$247.8K
Market Conditions
NOI Build-Up for 1,721 SF
Gross rent
$34.1K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.9K $18.51/SF
− OpEx
−$9.6K −$5.55/SF
NOI
$22.3K $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%
$446,060
Cap Rate 7%
$318,614
Cap Rate 9%
$247,811
Alternative Uses
Best Use
Multifamily LT 5
$318.6K
$278.8K – $371.7K
NOI $22,303 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$296.5K
$259.5K – $346.0K
NOI $20,758 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$502.9K
$440.0K – $586.7K
NOI $35,202 @ 7.0% cap · market cap 9.14%
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
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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 - Two residences feature separate utilities, private entries, individual laundry, and access to covered driveway parking.
Where is this duplex located?
The property is located at 3307 29th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two residences within a 1,721 square foot duplex; 0.15‑acre lot with an expansive rear yard beside a city‑maintained green space; Kitchens updated in 2019/2020 with granite, stainless appliances, tile backsplashes, and recessed lighting
