Updated Duplex with Hardwood
New
For Sale
$525,000
5936 Washburn Ave S, Minneapolis, MN 55410
Two vacant residences offer refreshed interiors, newer air-conditioning systems, and flexibility for an investor or owner-occupant.
Property Size2,220 SF
Price / SF$236.49
Days on Market4
Property Features for 5936 Washburn Ave S
General Information
Standard status
Active
Size
2,220 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
hardwood floors
AC units
Building Details
Year Built
1961
Buildings
1
Listing Agency:
Coldwell Banker Realty - Southwest Regional
(651) 335-3912
Listed By:
Ryan M Platzke, Ryan Quade
Source:
Agoodlifegroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 1:12PM
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 - Southwest Regional
Investment Insights
Based on property information with market context.
This 2,220-square-foot duplex, built in 1961, contains two vacant residences with updated kitchens and bathrooms. Each unit includes three bedrooms, one bathroom, hardwood flooring throughout, and a newer AC unit serving its level. The property is in excellent condition and presents a clear two-unit layout for a rental investor or owner-occupant.
Located at 5936 Washburn Ave S in Minneapolis, the property also includes a basement with the potential to add finished square footage and expand the available living area.
Located at 5936 Washburn Ave S in Minneapolis, the property also includes a basement with the potential to add finished square footage and expand the available living area.
Key Highlights
- 2,220‑square‑foot duplex with two currently vacant units
- Each unit includes 3 bedrooms and 1 bath
- Updated kitchens and bathrooms in both residences
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
$32,436
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
6.18%
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%
$648,720
$648.7K
Cap Rate 7%
$463,371
$463.4K
Cap Rate 9%
$360,400
$360.4K
Market Conditions
NOI Build-Up for 2,220 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
$49.3K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$46.3K $20.87/SF
− OpEx
−$13.9K −$6.26/SF
NOI
$32.4K $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%
$648,720
Cap Rate 7%
$463,371
Cap Rate 9%
$360,400
Alternative Uses
Best Use
Multifamily LT 5
$463.4K
$405.5K – $540.6K
NOI $32,436 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$425.6K
$372.4K – $496.5K
NOI $29,792 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$529.6K
$463.4K – $617.9K
NOI $37,075 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 55410, MN
21,352
Population
8,685
Households
2.5
Avg Household Size
40
Median Age
78%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
6,888
Density / Sq Mi
$144,973
Median Household Income
$77,518
Median Earnings
$1,622
Median Rent
$597,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer refreshed interiors, newer air-conditioning systems, and flexibility for an investor or owner-occupant.
Where is this duplex located?
The property is located at 5936 Washburn Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,220‑square‑foot duplex with two currently vacant units; Each unit includes 3 bedrooms and 1 bath; Updated kitchens and bathrooms in both residences
