Two-Unit Duplex with Finished
For Sale
$269,900
2115 5th St NE, Minneapolis, MN 55418
Each unit offers two bedrooms, one bathroom, and flexible finished basement space for office, recreation, or storage use.
Property Size1,549 SF
Price / SF$174.24
Days on Market61
Property Features for 2115 5th St NE
General Information
Standard status
Active
Size
1,549 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
RES Realty
Listed By:
Raul Sanchez Aguilar
(612) 600-7880
Source:
Thehomeadvantagegroup
Added: Aug 6
Changed: Sep 16
Last Checked: Oct 4 at 10:55AM
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 RES Realty
Investment Insights
Based on property information with market context.
This duplex includes two separate units, each with two bedrooms and one bathroom. A finished basement adds bonus rooms that can accommodate a home office, recreation area, storage, or other flexible uses. The property was built in 1900.
The duplex is located near I-94, restaurants, parks, and other amenities, providing access to nearby services and outdoor spaces. Its combination of two-bedroom units and additional basement rooms creates a practical layout for residential income ownership or flexible household use.
The duplex is located near I-94, restaurants, parks, and other amenities, providing access to nearby services and outdoor spaces. Its combination of two-bedroom units and additional basement rooms creates a practical layout for residential income ownership or flexible household use.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Finished basement with additional bonus rooms
- Basement space supports office, recreation, storage, or other uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,632
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$452,640
$452.6K
Cap Rate 7%
$323,314
$323.3K
Cap Rate 9%
$251,467
$251.5K
Market Conditions
NOI Build-Up for 1,549 SF
Gross rent
$34.4K $22.20/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$32.3K $20.87/SF
− OpEx
−$9.7K −$6.26/SF
NOI
$22.6K $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%
$452,640
Cap Rate 7%
$323,314
Cap Rate 9%
$251,467
Alternative Uses
Best Use
Multifamily LT 5
$323.3K
$282.9K – $377.2K
NOI $22,632 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$297.0K
$259.8K – $346.5K
NOI $20,787 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$369.6K
$323.4K – $431.2K
NOI $25,869 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,595
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 - Each unit offers two bedrooms, one bathroom, and flexible finished basement space for office, recreation, or storage use.
Where is this duplex located?
The property is located at 2115 5th St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Finished basement with additional bonus rooms; Basement space supports office, recreation, storage, or other uses
