Two-Story Three-Bedroom
For Sale
$395,000
2309 Buchanan St NE, Minneapolis, MN 55418
Two residential units feature shared basement laundry and storage, hardwood floors, and recent exterior improvements.
Property Size2,474 SF
Price / SF$159.66
Days on Market75
Property Features for 2309 Buchanan St NE
General Information
Standard status
Active
Size
2,474 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
sun room
common laundry area
patio
storage
Building Details
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
National Realty Guild
Listed By:
Tamara B. Wenz
(763) 783-0796
Source:
Brickandbanister
Added: Jul 23
Changed: Oct 1
Last Checked: Oct 4 at 11:18AM
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 National Realty Guild
Investment Insights
Based on property information with market context.
This 2,474-square-foot duplex was built in 1900 and contains two residential units, each with three bedrooms. The two-story layout includes hardwood flooring, a sunroom with city views, and a rear patio. A shared basement provides laundry facilities and storage. Stucco and vinyl siding complement replacement windows and a new roof completed in 2024.
Property systems include outgoing plumbing replaced with PVC pipe and the main sewer line descaled and lined in 2023. The property is located in Minneapolis’ Windom Park neighborhood with access to shopping, restaurants, and downtown. The main-floor unit is occupied, while the upper unit is available to show; 24-hour notice is required for showings.
Property systems include outgoing plumbing replaced with PVC pipe and the main sewer line descaled and lined in 2023. The property is located in Minneapolis’ Windom Park neighborhood with access to shopping, restaurants, and downtown. The main-floor unit is occupied, while the upper unit is available to show; 24-hour notice is required for showings.
Key Highlights
- Two 3‑bedroom residential units in a 2‑story duplex
- 2,474 square feet; built in 1900
- New windows and roof completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,147
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,940
$722.9K
Cap Rate 7%
$516,386
$516.4K
Cap Rate 9%
$401,633
$401.6K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$54.9K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$51.6K $20.87/SF
− OpEx
−$15.5K −$6.26/SF
NOI
$36.1K $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%
$722,940
Cap Rate 7%
$516,386
Cap Rate 9%
$401,633
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$474.3K
$415.0K – $553.3K
NOI $33,200 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$590.2K
$516.5K – $688.6K
NOI $41,317 @ 7.0% cap · market cap 10.46%
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
1,257
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
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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 feature shared basement laundry and storage, hardwood floors, and recent exterior improvements.
Where is this duplex located?
The property is located at 2309 Buchanan St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two 3‑bedroom residential units in a 2‑story duplex; 2,474 square feet; built in 1900; New windows and roof completed in 2024
