Up-and-Down Duplex with Private
For Sale
$357,000
122 W 32nd Street, Minneapolis, MN 55408
Two residential units provide separate living spaces, outdoor areas, and dedicated laundry.
Property Size1,648 SF
Price / SF$216.63
Days on Market31
Property Features for 122 W 32nd Street
General Information
Standard status
Active
Size
1,648 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private in-unit laundry
fenced yard
front and rear porches
Building Details
Year Built
1885
Tenancy
Single
Listing Agency:
Exit Realty Refined
Listed By:
The Antonov Group · License #8214994
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 6
Changed: Oct 4
Last Checked: Oct 5 at 7:03PM
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 Exit Realty Refined
Investment Insights
Based on property information with market context.
This 1,648-square-foot duplex, built in 1885, contains one residence above another and includes private laundry within each unit. Recent property improvements include a two-year-old roof, updated electrical and plumbing, a newer furnace, and central air with revised ductwork serving the second-floor unit. Front and rear porches add outdoor space, while the fenced yard supports practical day-to-day use.
The property is located at 122 W 32nd Street in Minneapolis, Minnesota, with an asphalt driveway and four off-street parking spaces. The site also has room to add a garage, offering additional flexibility for future use. The upper unit is occupied by a long-term tenant, while the layout can also accommodate an owner-occupant in the lower unit.
The property is located at 122 W 32nd Street in Minneapolis, Minnesota, with an asphalt driveway and four off-street parking spaces. The site also has room to add a garage, offering additional flexibility for future use. The upper unit is occupied by a long-term tenant, while the layout can also accommodate an owner-occupant in the lower unit.
Key Highlights
- 1,648‑square‑foot duplex at 122 W 32nd Street in Minneapolis, MN
- Two‑year‑old roof plus updated electrical and plumbing
- Central air with updated ductwork in the second‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,078
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,560
$481.6K
Cap Rate 7%
$343,971
$344.0K
Cap Rate 9%
$267,533
$267.5K
Market Conditions
NOI Build-Up for 1,648 SF
Gross rent
$36.6K $22.20/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$34.4K $20.87/SF
− OpEx
−$10.3K −$6.26/SF
NOI
$24.1K $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%
$481,560
Cap Rate 7%
$343,971
Cap Rate 9%
$267,533
Alternative Uses
Best Use
Multifamily LT 5
$344.0K
$301.0K – $401.3K
NOI $24,078 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$315.9K
$276.5K – $368.6K
NOI $22,116 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$393.2K
$344.0K – $458.7K
NOI $27,522 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
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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 - Two residential units provide separate living spaces, outdoor areas, and dedicated laundry.
Where is this duplex located?
The property is located at 122 W 32nd Street Minneapolis, MN.
What is the asking price?
The asking price for this property is $357,000.
What are key features of this property?
This property features: 1,648‑square‑foot duplex at 122 W 32nd Street in Minneapolis, MN; Two‑year‑old roof plus updated electrical and plumbing; Central air with updated ductwork in the second‑floor unit
