Duplex with Detached
For Sale
$365,000
922 NE 18 1/2 Ave NE, Minneapolis, MN 55418
Two separate units share basement laundry and have independent gas and electric service.
Property Size1,902 SF
Price / SF$191.90
Days on Market79
Property Features for 922 NE 18 1/2 Ave NE
General Information
Standard status
Active
Size
1,902 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
shared basement laundry
detached garage
Building Details
Year Built
1900
Listing Agency:
RE/MAX Results
Listed By:
Lars Anderson
(651) 497-1666
Source:
Putyourrootsdown
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 7 at 1:44PM
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.
Built in 1900, this 1,902-square-foot duplex is arranged with one residence above the other. Each unit includes living space, a kitchen, dedicated bedrooms, and a full bathroom. Separate gas and electric service supports distinct utility arrangements, while shared basement laundry serves both residences.
Exterior amenities include a detached one-stall garage and additional off-street parking. The property is located in Northeast Minneapolis’ Logan Park neighborhood, near Logan Park, Indeed Brewing, Dangerous Man, local coffee shops, restaurants, art studios, the Mississippi Riverfront, and area trails and green space.
Exterior amenities include a detached one-stall garage and additional off-street parking. The property is located in Northeast Minneapolis’ Logan Park neighborhood, near Logan Park, Indeed Brewing, Dangerous Man, local coffee shops, restaurants, art studios, the Mississippi Riverfront, and area trails and green space.
Key Highlights
- 1,902‑square‑foot duplex built in 1900
- One residence positioned above the other, with two total units
- Each unit includes living space, kitchen, bedrooms, and a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,790
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,800
$555.8K
Cap Rate 7%
$397,000
$397.0K
Cap Rate 9%
$308,778
$308.8K
Market Conditions
NOI Build-Up for 1,902 SF
Gross rent
$42.2K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.7K $20.87/SF
− OpEx
−$11.9K −$6.26/SF
NOI
$27.8K $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%
$555,800
Cap Rate 7%
$397,000
Cap Rate 9%
$308,778
Alternative Uses
Best Use
Multifamily LT 5
$397.0K
$347.4K – $463.2K
NOI $27,790 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$364.6K
$319.1K – $425.4K
NOI $25,524 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$453.8K
$397.1K – $529.4K
NOI $31,764 @ 7.0% cap · market cap 8.70%
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
1,699
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 separate units share basement laundry and have independent gas and electric service.
Where is this duplex located?
The property is located at 922 NE 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: 1,902‑square‑foot duplex built in 1900; One residence positioned above the other, with two total units; Each unit includes living space, kitchen, bedrooms, and a full bathroom
