Brick Duplex with Double
For Sale
$525,000
3707-3709 Joppa Avenue S, Saint Louis Park, MN 55416
Residential Income, Saint Louis Park, MN
Property Size2,400 SF
Lot Size0.16 Acres
Price / SF$218.75
Days on Market39
Property Features for 3707-3709 Joppa Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family, Residential-Single Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 2, Basement, Bedroom 2
Parking features
Driveway, Garage - Detached, Open
Exterior features
Brick/Stone
Subdivision
Minikahda Terrace 2nd Add
Lot features
Public Transit (w/in 6 blks), Irregular Lot, Tree Coverage - Light
High school district
St. Louis Park
Directions
Excelsior Blvd to Joppa Ave South to home.
Standard status
Active
APN
0602824440138
Size
2,400 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10547
Utilities
Heating system
Forced Air
Building Details
Year built
1947
Roof type
Shingle
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(952) 226-7700
Listed By:
Mark P. Abdel
(651) 283-8251
Added: Jul 29
Changed: Sep 2
Last Checked: Sep 5 at 2:06AM
MLS# 7117146
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.
Built in 1947, this 2,400-square-foot side-by-side duplex contains two spacious two-story units with separate entrances and full basements. Interior features include oak hardwood floors, updated kitchens, and finished details with distinct character. The full-brick exterior is complemented by a detached 20' x 22' double garage, open parking, and a driveway. Forced-air heating and a shingle roof serve the property.
The property is located in Saint Louis Park near Bde Maka Ska, parks, restaurants, shopping, and walking and biking trails. Highway 100, I-394, Highway 7, and downtown Minneapolis are minutes away, providing access to surrounding employment and amenities. The property occupies 0.16 acres in the 55416 postal area.
The property is located in Saint Louis Park near Bde Maka Ska, parks, restaurants, shopping, and walking and biking trails. Highway 100, I-394, Highway 7, and downtown Minneapolis are minutes away, providing access to surrounding employment and amenities. The property occupies 0.16 acres in the 55416 postal area.
Key Highlights
- Fully rented side‑by‑side duplex with two‑story units
- 2,400 square feet on a 0.16‑acre lot
- Detached 20' x 22' double garage
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
$31,102
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
5.92%
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%
$622,040
$622.0K
Cap Rate 7%
$444,314
$444.3K
Cap Rate 9%
$345,578
$345.6K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$44.4K $18.51/SF
− OpEx
−$13.3K −$5.55/SF
NOI
$31.1K $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%
$622,040
Cap Rate 7%
$444,314
Cap Rate 9%
$345,578
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$400.7K
$350.7K – $467.5K
NOI $28,052 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$572.6K
$501.0K – $668.0K
NOI $40,081 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 55416, MN
34,129
Population
19,197
Households
1.8
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
7.3 sq mi
ZIP Area
4,675
Density / Sq Mi
$105,926
Median Household Income
$70,993
Median Earnings
$1,701
Median Rent
$457,300
Median Home Value
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 - Fully rented side-by-side property with two-story units, private entrances, and individual full basements.
Where is this duplex located?
The property is located at 3707-3709 Joppa Avenue S Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully rented side‑by‑side duplex with two‑story units; 2,400 square feet on a 0.16‑acre lot; Detached 20' x 22' double garage
