Duplex With Detached
For Sale
$394,900
958 26th Avenue NE, Minneapolis, MN 55418
Residential Income, Minneapolis, MN
Property Size2,574 SF
Lot Size0.08 Acres
Price / SF$153.42
Days on Market50
Property Features for 958 26th Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 5
Parking features
Garage - Detached
Subdivision
Demings Polk St Rgt
High school district
Minneapolis
Directions
958 26th Ave NE
Standard status
Active
APN
1202924230014
Size
2,574 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5554
Utilities
Heating system
Oil
Building Details
Year built
1900
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Clark Lensing · License #40534808
(952) 829-2900
Added: Jul 21
Changed: Sep 5
Last Checked: Sep 8 at 1:06PM
MLS# 7112559
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 1900, this duplex contains 2,574 square feet of finished space across two residences. The upper unit is vacant and includes three bedrooms, a dedicated office, one full bathroom, and a 32-by-21-foot top-floor area that can serve as additional living or bedroom space. The main-level apartment offers two bedrooms, one bathroom, and separate living and dining areas; its lease runs through January 31, 2027.
The property sits on a 0.08-acre lot and includes a detached one-car garage, additional off-street parking, and an unfinished basement for storage. Heating is provided by oil. The address is 958 26th Avenue NE in Minneapolis, Minnesota 55418.
The property sits on a 0.08-acre lot and includes a detached one-car garage, additional off-street parking, and an unfinished basement for storage. Heating is provided by oil. The address is 958 26th Avenue NE in Minneapolis, Minnesota 55418.
Key Highlights
- 2,574 square feet of finished space in a two‑unit residential property
- Upper residence is vacant with 3 bedrooms, an office, 1 bathroom, and a 32x21 top‑floor area
- Main‑level 2‑bedroom, 1‑bath unit leased through January 31, 2027
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
$34,542
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
8.75%
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%
$690,840
$690.8K
Cap Rate 7%
$493,457
$493.5K
Cap Rate 9%
$383,800
$383.8K
Market Conditions
NOI Build-Up for 2,574 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
$67.0K $26.04/SF
− Vacancy
−$4.2K −$1.64/SF
EGI
$62.8K $24.40/SF
− OpEx
−$28.3K −$10.98/SF
NOI
$34.5K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$690,840
Cap Rate 7%
$493,457
Cap Rate 9%
$383,800
Alternative Uses
Best Use
Multifamily LT 5
$537.3K
$470.1K – $626.8K
NOI $37,608 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$493.5K
$431.8K – $575.7K
NOI $34,542 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$614.1K
$537.3K – $716.5K
NOI $42,987 @ 7.0% cap · market cap 10.89%
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
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
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 - Two-unit property with a vacant upper residence and a leased main-level apartment.
Where is this duplex located?
The property is located at 958 26th Avenue NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: 2,574 square feet of finished space in a two‑unit residential property; Upper residence is vacant with 3 bedrooms, an office, 1 bathroom, and a 32x21 top‑floor area; Main‑level 2‑bedroom, 1‑bath unit leased through January 31, 2027
