9-Bedroom Duplex with New
For Sale
$459,900
3213 Minnehaha Ave, Minneapolis, MN 55406
Two-unit property with hardwood floors, updated windows, fresh paint, and convenient access to light rail and neighborhood businesses.
Property Size3,370 SF
Price / SF$136.47
Days on Market79
Property Features for 3213 Minnehaha Ave
General Information
Standard status
Active
Size
3,370 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1905
Buildings
1
Listing Agency:
RE/MAX Results
Listed By:
Paulo Mora
(763) 755-1100
Source:
Homesminn
Added: Jul 19
Changed: Sep 21
Last Checked: Oct 4 at 2:20PM
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 duplex at 3213 Minnehaha Ave offers 9 bedrooms within a spacious layout suited to income-producing use or multigenerational living. Original hardwood floors, newer windows, fresh paint, and a brand new roof are among the property’s notable features. The home was built in 1905 and has been well maintained.
The property is located near light rail service, restaurants, distilleries, and coffee shops. Its two-unit configuration and substantial bedroom count provide flexibility for an owner-occupant or residential income strategy, while the updated exterior and interior elements support immediate usability.
The property is located near light rail service, restaurants, distilleries, and coffee shops. Its two-unit configuration and substantial bedroom count provide flexibility for an owner-occupant or residential income strategy, while the updated exterior and interior elements support immediate usability.
Key Highlights
- 9‑bedroom duplex at 3213 Minnehaha Ave, Minneapolis, MN 55406
- Brand new roof and newer windows
- Original hardwood floors and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,647
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
$812.9K
Cap Rate 7%
$580,671
$580.7K
Cap Rate 9%
$451,633
$451.6K
Market Conditions
NOI Build-Up for 3,370 SF
Gross rent
$78.5K $23.28/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$73.9K $21.93/SF
− OpEx
−$33.3K −$9.87/SF
NOI
$40.6K $12.06/SF
Area
ZIP 55406
Vacancy
5.80%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,940
Cap Rate 7%
$580,671
Cap Rate 9%
$451,633
Alternative Uses
Best Use
Multifamily LT 5
$623.9K
$545.9K – $727.9K
NOI $43,672 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,647 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$984.7K
$861.6K – $1.15M
NOI $68,931 @ 7.0% cap · market cap 14.99%
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
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
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-unit property with hardwood floors, updated windows, fresh paint, and convenient access to light rail and neighborhood businesses.
Where is this duplex located?
The property is located at 3213 Minnehaha Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 9‑bedroom duplex at 3213 Minnehaha Ave, Minneapolis, MN 55406; Brand new roof and newer windows; Original hardwood floors and fresh paint
