Brick Side-by-Side
For Sale
$524,900
Pending
5038 Nicollet Avenue, Minneapolis, MN 55419
Residential Income, Minneapolis, MN
Property Size1,867 SF
Lot Size0.17 Acres
Days on Market90
Property Features for 5038 Nicollet Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Basement, Bathroom 2
Parking features
Garage, Garage - Detached
Exterior features
Brick/Stone
Fencing
Chain Link
Subdivision
Washburn Hill Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
Located on 50th and Nicollet. Please note there is construction on
Standard status
Pending
APN
1502824310100
Size
1,867 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7151
Utilities
Heating system
Forced Air
Building Details
Year built
1940
Building materials
Brick, Frame
Listing Agency:
Tangletown Realty
(612) 296-6900
Listed By:
Angela P. Larson
(651) 203-1788
Added: Jul 8
Changed: Sep 24
Last Checked: Oct 5 at 9:06PM
MLS# 7104971
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 side-by-side duplex provides 1,867 square feet within a brick-and-frame structure built in 1940. The property has received multiple updates while retaining original character, including refinished hardwood flooring, select cabinetry, built-ins, and period-style bathroom details. A full basement adds storage, and forced-air heating serves the home. The layout supports either owner occupancy or use as a rental property.
Set on a 0.17-acre lot at 5038 Nicollet Avenue in Minneapolis, the property includes mature landscaping, a detached garage, and a chain-link fence. The backyard has a separately fenced section associated with one unit, adding defined outdoor space. The brick exterior and two-unit configuration provide a distinct residential income asset with established physical improvements.
Set on a 0.17-acre lot at 5038 Nicollet Avenue in Minneapolis, the property includes mature landscaping, a detached garage, and a chain-link fence. The backyard has a separately fenced section associated with one unit, adding defined outdoor space. The brick exterior and two-unit configuration provide a distinct residential income asset with established physical improvements.
Key Highlights
- Side‑by‑side duplex at 5038 Nicollet Avenue, Minneapolis, MN 55419
- 1,867 square feet on a 0.17‑acre lot
- Brick‑and‑frame construction completed in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,278
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,560
$545.6K
Cap Rate 7%
$389,686
$389.7K
Cap Rate 9%
$303,089
$303.1K
Market Conditions
NOI Build-Up for 1,867 SF
Gross rent
$41.4K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.0K $20.87/SF
− OpEx
−$11.7K −$6.26/SF
NOI
$27.3K $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 Rate 5%
$545,560
Cap Rate 7%
$389,686
Cap Rate 9%
$303,089
Alternative Uses
Best Use
Multifamily LT 5
$389.7K
$341.0K – $454.6K
NOI $27,278 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$357.9K
$313.2K – $417.6K
NOI $25,055 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$445.4K
$389.8K – $519.7K
NOI $31,180 @ 7.0% cap · market cap 5.94%
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
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 55419, MN
27,919
Population
12,119
Households
2.3
Avg Household Size
39
Median Age
72%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
6,647
Density / Sq Mi
$143,254
Median Household Income
$77,467
Median Earnings
$1,476
Median Rent
$479,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Updated two-unit property with full basement, detached garage, and fenced outdoor area.
Where is this duplex located?
The property is located at 5038 Nicollet Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Side‑by‑side duplex at 5038 Nicollet Avenue, Minneapolis, MN 55419; 1,867 square feet on a 0.17‑acre lot; Brick‑and‑frame construction completed in 1940
