Up-Down Duplex with Sun
For Sale
$525,000
3827 Blaisdell Avenue, Minneapolis, MN 55409
Residential Income, Minneapolis, MN
Property Size2,512 SF
Lot Size0.18 Acres
Price / SF$208
Days on Market71
Property Features for 3827 Blaisdell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Other, Garage - Detached
Exterior features
Stucco
Subdivision
Hinkleys Add
High school district
Minneapolis
Directions
From Lyndale head south to 38th St, east to Blaisdell and south to property on the left.
Standard status
Active
APN
1002824210023
Size
2,512 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10202
Utilities
Heating system
Oil
Building Details
Year built
1916
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Jodine M Williams
(612) 821-7400
Added: Jun 11
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# 7086461
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.
Charming up-and-down duplex offering two separate units, each with a spacious living and dining room, kitchen, sun room, two bedrooms, and a full bath. Interior features include built-ins and hardwood floors. The exterior includes stucco, and the property includes a basement. Heating is oil, with detached garage parking and additional off-street parking in the rear.
Built in 1916, the home sits on a 0.18-acre lot in Minneapolis. The address is 3827 Blaisdell Avenue, MN 55409, in Hennepin County. The property is described as walkable to restaurants and shops, with a short bike ride to the lakes.
With four bedrooms and two bathrooms reflected in the room list, the layout supports a traditional owner-occupant or dual-tenant configuration typical of up-and-down duplexes, while retaining distinct unit spaces and convenient rear parking.
Built in 1916, the home sits on a 0.18-acre lot in Minneapolis. The address is 3827 Blaisdell Avenue, MN 55409, in Hennepin County. The property is described as walkable to restaurants and shops, with a short bike ride to the lakes.
With four bedrooms and two bathrooms reflected in the room list, the layout supports a traditional owner-occupant or dual-tenant configuration typical of up-and-down duplexes, while retaining distinct unit spaces and convenient rear parking.
Key Highlights
- Up‑and‑down duplex with built‑ins and hardwood floors
- Each unit includes a sun room, two bedrooms, and a full bath
- Oil heating, stucco exterior, and a basement
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
$36,702
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
6.99%
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%
$734,040
$734.0K
Cap Rate 7%
$524,314
$524.3K
Cap Rate 9%
$407,800
$407.8K
Market Conditions
NOI Build-Up for 2,512 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
$55.8K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$52.4K $20.87/SF
− OpEx
−$15.7K −$6.26/SF
NOI
$36.7K $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 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%
$734,040
Cap Rate 7%
$524,314
Cap Rate 9%
$407,800
Alternative Uses
Best Use
Multifamily LT 5
$524.3K
$458.8K – $611.7K
NOI $36,702 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$481.6K
$421.4K – $561.8K
NOI $33,710 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$599.3K
$524.4K – $699.2K
NOI $41,952 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
Business Placement
Demographics for 55409, MN
11,843
Population
5,488
Households
2.2
Avg Household Size
37
Median Age
63%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
9,110
Density / Sq Mi
$98,056
Median Household Income
$59,430
Median Earnings
$1,364
Median Rent
$365,500
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 - Charming up-and-down duplex with oil heat, hardwood floors, and sun rooms on a 0.18-acre lot.
Where is this duplex located?
The property is located at 3827 Blaisdell Avenue Minneapolis, 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: Up‑and‑down duplex with built‑ins and hardwood floors; Each unit includes a sun room, two bedrooms, and a full bath; Oil heating, stucco exterior, and a basement
