Renovated Duplex With
For Sale
$849,900
3724 Joppa Avenue S, Saint Louis Park, MN 55416
Residential Income, Saint Louis Park, MN
Property Size2,500 SF
Lot Size0.18 Acres
Price / SF$339.96
Days on Market92
Property Features for 3724 Joppa Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 8, Bedroom 5, Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 7, Bathroom 1, Bedroom 6
Parking features
Driveway, Garage - Attached, Open
Exterior features
Fiber Board, Metal, Wood
Fencing
Chain Link
Subdivision
Bassfords Add To St Louis Park
Lot features
Public Transit (w/in 6 blks), Irregular Lot, Tree Coverage - Medium, Underground Utilities
High school district
St. Louis Park
Directions
From Hwy 100: East on Excelsior Blvd, South on Joppa Ave S, Property on right.
Standard status
Active
APN
0602824430092
Size
2,500 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7835
Utilities
Heating system
Forced Air
Amenities
in-unit washer/dryer
private deck
fenced yard
smart home features
stainless steel appliances
water softeners
Building Details
Year built
1979
Building materials
Block, Frame
Roof type
Metal, Shingle
Listing Agency:
Pro Flat Fee Realty LLC
(612) 998-1919
Listed By:
David B Hitchcock
(763) 257-9245
Added: Jun 10
Changed: Sep 4
Last Checked: Sep 9 at 4:06AM
MLS# 7089360
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 renovated duplex contains 2,500 square feet with two independent residences, each offering 4 bedrooms, 2 full bathrooms, an open living area, a private deck, a separate basement, and an attached 2-car garage. Separately metered utilities, in-unit laundry, fenced yard space, and upgraded garage electrical support practical day-to-day use. Smart-home improvements include Ecobee thermostats, electric shades, and dimmable switches.
Renovation work includes a metal roof, high-efficiency Carrier HVAC systems, new electrical panels and hot water tanks, quartz kitchen counters, stainless steel appliances, remodeled bathrooms, LED lighting, waterproof LVP flooring, water softeners, replacement staircases, upgraded gutters, and professional landscaping. The property was built in 1979 and is located at 3724 Joppa Avenue S in Saint Louis Park, near restaurants, shopping, groceries, parks, the bus line, 50th & France, Highway 100, downtown, and Bde Maka Ska.
Renovation work includes a metal roof, high-efficiency Carrier HVAC systems, new electrical panels and hot water tanks, quartz kitchen counters, stainless steel appliances, remodeled bathrooms, LED lighting, waterproof LVP flooring, water softeners, replacement staircases, upgraded gutters, and professional landscaping. The property was built in 1979 and is located at 3724 Joppa Avenue S in Saint Louis Park, near restaurants, shopping, groceries, parks, the bus line, 50th & France, Highway 100, downtown, and Bde Maka Ska.
Key Highlights
- Two‑residence duplex totaling 2,500 square feet
- Each side includes 4 bedrooms, 2 full bathrooms, a separate basement, and a private deck
- Attached 2‑car garage for each unit with electrical capacity for an EV charger or sauna
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
$32,398
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
3.81%
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%
$647,960
$648.0K
Cap Rate 7%
$462,829
$462.8K
Cap Rate 9%
$359,978
$360.0K
Market Conditions
NOI Build-Up for 2,500 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
$49.5K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$46.3K $18.51/SF
− OpEx
−$13.9K −$5.55/SF
NOI
$32.4K $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%
$647,960
Cap Rate 7%
$462,829
Cap Rate 9%
$359,978
Alternative Uses
Best Use
Multifamily LT 5
$462.8K
$405.0K – $540.0K
NOI $32,398 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,221 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$596.4K
$521.9K – $695.9K
NOI $41,751 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
962
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer independent utilities, private outdoor space, and layouts that function much like separate single-family homes.
Where is this duplex located?
The property is located at 3724 Joppa Avenue S Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑residence duplex totaling 2,500 square feet; Each side includes 4 bedrooms, 2 full bathrooms, a separate basement, and a private deck; Attached 2‑car garage for each unit with electrical capacity for an EV charger or sauna
