Duplex with Vintage
New
For Sale
$675,000
100 W 40th St, Minneapolis, MN 55409
Updated kitchens, period details, and a separate lower-level unit support flexible occupancy options.
Property Size3,512 SF
Price / SF$192.20
Days on Market7
Property Features for 100 W 40th St
General Information
Standard status
Active
Size
3,512 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
perennial gardens
brick patio
woodburning fireplace
sunroom
basement laundry
outdoor entertaining spaces
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Coldwell Banker Realty - Lakes
Listed By:
Christopher J Carrow
(612) 802-5592
Source:
Homesminn
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 24 at 2:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Lakes
Investment Insights
Based on property information with market context.
Built in 1925, this 3,512-square-foot duplex retains substantial period character while incorporating updated kitchen finishes. The two primary units feature hardwood floors, detailed woodwork, built-in cabinetry, woodburning fireplaces, and south-facing sunrooms. Granite counters and maple cabinetry distinguish the upper-level kitchen. A separate non-conforming lower-level unit provides one bedroom, one bathroom, and a generous living area.
The property at 100 W 40th St in Minneapolis includes a two-car garage, basement laundry, perennial gardens, a brick patio, and additional outdoor entertaining areas. Its King Field setting provides access to neighborhood restaurants and nearby bike trails. The roof is 5 years old, and the layout supports either investment ownership or an owner-occupant arrangement.
The property at 100 W 40th St in Minneapolis includes a two-car garage, basement laundry, perennial gardens, a brick patio, and additional outdoor entertaining areas. Its King Field setting provides access to neighborhood restaurants and nearby bike trails. The roof is 5 years old, and the layout supports either investment ownership or an owner-occupant arrangement.
Key Highlights
- 1925 duplex with 3,512 square feet
- Separate non‑conforming lower‑level unit with 1 bedroom and 1 bathroom
- Two primary units retain hardwood floors, built‑ins, woodwork, and woodburning fireplaces
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
$51,313
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
7.60%
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%
$1,026,260
$1.0M
Cap Rate 7%
$733,043
$733.0K
Cap Rate 9%
$570,144
$570.1K
Market Conditions
NOI Build-Up for 3,512 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
$78.0K $22.20/SF
− Vacancy
−$4.7K −$1.33/SF
EGI
$73.3K $20.87/SF
− OpEx
−$22.0K −$6.26/SF
NOI
$51.3K $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 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%
$1,026,260
Cap Rate 7%
$733,043
Cap Rate 9%
$570,144
Alternative Uses
Best Use
Multifamily LT 5
$733.0K
$641.4K – $855.2K
NOI $51,313 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$673.3K
$589.1K – $785.5K
NOI $47,130 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$837.9K
$733.2K – $977.5K
NOI $58,652 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
959
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
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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 kitchens, period details, and a separate lower-level unit support flexible occupancy options.
Where is this duplex located?
The property is located at 100 W 40th St Minneapolis, MN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1925 duplex with 3,512 square feet; Separate non‑conforming lower‑level unit with 1 bedroom and 1 bathroom; Two primary units retain hardwood floors, built‑ins, woodwork, and woodburning fireplaces
