Updated Side-by-Side
For Sale
$524,900
5038 Nicollet Ave, Minneapolis, MN 55419
Brick exterior, refinished hardwood floors, and a full basement add functional character to this two-unit property.
Property Size1,867 SF
Price / SF$281.15
Days on Market72
Property Features for 5038 Nicollet Ave
General Information
Standard status
Active
Size
1,867 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced yard
basement storage
mature landscaping
Building Details
Year Built
1940
Buildings
1
Construction
brick
Listing Agency:
Tangletown Realty
Listed By:
Angela P. Larson
(612) 296-6900
Source:
Putyourrootsdown
Added: Jul 26
Changed: Oct 4
Last Checked: Oct 4 at 2:38PM
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 Tangletown Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 1,867 square feet and was built in 1940. The property has received multiple updates while retaining original interior details, including hardwood flooring that was recently refinished, select cabinetry, built-in features, and period-style bathroom elements. A full basement provides additional storage, and the brick exterior is complemented by mature landscaping.
The backyard includes a separately fenced section serving one unit. Located at 5038 Nicollet Ave in Minneapolis, the property offers a two-unit configuration that can support either owner occupancy or rental use.
The backyard includes a separately fenced section serving one unit. Located at 5038 Nicollet Ave in Minneapolis, the property offers a two-unit configuration that can support either owner occupancy or rental use.
Key Highlights
- Side‑by‑side duplex with 1,867 square feet
- Built in 1940 with multiple updates
- Recently refinished hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,278
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,560
$545.6K
Cap Rate 7%
$389,686
$389.7K
Cap Rate 9%
$303,089
$303.1K
Market Conditions
NOI Build-Up for 1,867 SF
Gross rent
$41.4K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.0K $20.87/SF
− OpEx
−$11.7K −$6.26/SF
NOI
$27.3K $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%
$545,560
Cap Rate 7%
$389,686
Cap Rate 9%
$303,089
Alternative Uses
Best Use
Multifamily LT 5
$389.7K
$341.0K – $454.6K
NOI $27,278 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$357.9K
$313.2K – $417.6K
NOI $25,055 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$445.4K
$389.8K – $519.7K
NOI $31,180 @ 7.0% cap · market cap 5.94%
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
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 55419, MN
27,919
Population
12,119
Households
2.3
Avg Household Size
39
Median Age
72%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
6,647
Density / Sq Mi
$143,254
Median Household Income
$77,467
Median Earnings
$1,476
Median Rent
$479,000
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 - Brick exterior, refinished hardwood floors, and a full basement add functional character to this two-unit property.
Where is this duplex located?
The property is located at 5038 Nicollet Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Side‑by‑side duplex with 1,867 square feet; Built in 1940 with multiple updates; Recently refinished hardwood floors
