Updated Duplex with Four-Car
For Sale
$450,000
Pending
1321 Fireside Drive NE, Fridley, MN 55432
Two residential units include refreshed kitchens and bathrooms, plus a three-season porch and fenced yard.
Property Size3,533 SF
Days on Market42
Property Features for 1321 Fireside Drive NE
General Information
Standard status
Pending
Size
3,533 SF
Total Parking Spaces
4
Property subtype
Duplex Side by Side
Additional Details
Multifamily Units
2
Amenities
three-season porch
fenced backyard
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Jason Mitchell Group
(952) 454-5190
Listed By:
Isaac Larson
(612) 790-8292
Source:
Obviousrealestate
Added: Sep 21
Changed: Oct 30
Last Checked: Oct 30 at 2:36PM
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 Jason Mitchell Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1978, this duplex contains two residential units with spacious floorplans. Kitchens and bathrooms have been updated, and the larger unit has new carpet. Both units received new A/C systems in 2021, and all windows were replaced in 2023. A detached four-car garage adds substantial vehicle storage, while the fenced backyard and large three-season porch provide additional outdoor space.
The property is in Fridley, in an established neighborhood with a mix of duplexes and single-family homes.
The property is in Fridley, in an established neighborhood with a mix of duplexes and single-family homes.
Key Highlights
- Two‑unit duplex built in 1978
- Detached garage accommodates four cars
- New A/C systems in both units installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,322
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,440
$806.4K
Cap Rate 7%
$576,029
$576.0K
Cap Rate 9%
$448,022
$448.0K
Market Conditions
NOI Build-Up for 3,533 SF
Gross rent
$78.9K $22.32/SF
− Vacancy
−$5.5K −$1.57/SF
EGI
$73.3K $20.75/SF
− OpEx
−$33.0K −$9.34/SF
NOI
$40.3K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,440
Cap Rate 7%
$576,029
Cap Rate 9%
$448,022
Alternative Uses
Best Use
Multifamily LT 5
$625.1K
$547.0K – $729.3K
NOI $43,758 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$576.0K
$504.0K – $672.0K
NOI $40,322 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$981.4K
$858.7K – $1.14M
NOI $68,695 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 55432, MN
33,022
Population
13,575
Households
2.4
Avg Household Size
37
Median Age
30%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,336
Density / Sq Mi
$77,985
Median Household Income
$48,417
Median Earnings
$1,308
Median Rent
$278,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include refreshed kitchens and bathrooms, plus a three-season porch and fenced yard.
Where is this duplex located?
The property is located at 1321 Fireside Drive NE Fridley, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1978; Detached garage accommodates four cars; New A/C systems in both units installed in 2021
