Duplex with Detached
For Sale
$365,000
918 18 1/2 Ave NE, Minneapolis, MN 55418
Two-bedroom units with separate entrances, shared laundry, and individually metered gas and electric service.
Property Size1,815 SF
Price / SF$201.10
Days on Market70
Property Features for 918 18 1/2 Ave NE
General Information
Standard status
Active
Size
1,815 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
shared basement laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Results
Listed By:
Lars Anderson
(651) 497-1666
Source:
Homesminn
Added: Jul 30
Changed: Sep 24
Last Checked: Oct 5 at 7:38PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 1,815-square-foot up-and-down duplex, built in 1900, contains two 2-bedroom, 1-bathroom residences. Each unit has its own entrance along with a full kitchen, living room, two bedrooms, and a full bathroom. Gas and electric are separately metered for each unit, while the basement provides shared laundry space.
The property includes a detached 2-stall garage and additional off-street parking. It is located in Logan Park in Northeast Minneapolis, near Indeed Brewing, Dangerous Man, neighborhood businesses, the Mississippi riverfront, and area parks and trails. The existing two-unit layout supports separate residential occupancy within a single property.
The property includes a detached 2-stall garage and additional off-street parking. It is located in Logan Park in Northeast Minneapolis, near Indeed Brewing, Dangerous Man, neighborhood businesses, the Mississippi riverfront, and area parks and trails. The existing two-unit layout supports separate residential occupancy within a single property.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units with separate entrances
- 1,815 square feet; built in 1900
- Separate gas and electric meters for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,518
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,360
$530.4K
Cap Rate 7%
$378,829
$378.8K
Cap Rate 9%
$294,644
$294.6K
Market Conditions
NOI Build-Up for 1,815 SF
Gross rent
$40.3K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$37.9K $20.87/SF
− OpEx
−$11.4K −$6.26/SF
NOI
$26.5K $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%
$530,360
Cap Rate 7%
$378,829
Cap Rate 9%
$294,644
Alternative Uses
Best Use
Multifamily LT 5
$378.8K
$331.5K – $442.0K
NOI $26,518 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$348.0K
$304.5K – $406.0K
NOI $24,357 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$433.0K
$378.9K – $505.2K
NOI $30,311 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,699
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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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-bedroom units with separate entrances, shared laundry, and individually metered gas and electric service.
Where is this duplex located?
The property is located at 918 18 1/2 Ave NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units with separate entrances; 1,815 square feet; built in 1900; Separate gas and electric meters for both units
