Renovated Duplex With Two-Car
For Sale
$375,000
1014 18 1/2 Ave NE, Minneapolis, MN 55418
Vacant two-unit property with renovated interiors, hardwood flooring, walk-in pantries, and direct-access garage.
Property Size1,891 SF
Price / SF$198.31
Days on Market39
Property Features for 1014 18 1/2 Ave NE
General Information
Standard status
Active
Size
1,891 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
hardwood floors
walk-in pantries
partially fenced backyard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Realty ONE Group Choice
Listed By:
Nicole Goltz
(612) 749-8404
Source:
Agoodlifegroup
Added: Aug 28
Changed: Sep 12
Last Checked: Oct 4 at 2:48PM
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 Realty ONE Group Choice
Investment Insights
Based on property information with market context.
This renovated duplex contains two vacant units and was built in 1900. Both residences feature hardwood floors and walk-in pantries, retaining original character while incorporating updates. The property also includes a partially fenced backyard and a two-car garage with direct street access, eliminating the need for alley entry.
Located at 1014 18 1/2 Ave NE in Minneapolis, the property is positioned in Northeast Minneapolis. Its current vacancy allows the next owner to establish a new occupancy plan for the two-unit configuration.
Located at 1014 18 1/2 Ave NE in Minneapolis, the property is positioned in Northeast Minneapolis. Its current vacancy allows the next owner to establish a new occupancy plan for the two-unit configuration.
Key Highlights
- Two‑unit duplex with both units currently vacant
- Renovated property originally built in 1900
- Hardwood floors and walk‑in pantries in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,629
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,580
$552.6K
Cap Rate 7%
$394,700
$394.7K
Cap Rate 9%
$306,989
$307.0K
Market Conditions
NOI Build-Up for 1,891 SF
Gross rent
$42.0K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$39.5K $20.87/SF
− OpEx
−$11.8K −$6.26/SF
NOI
$27.6K $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%
$552,580
Cap Rate 7%
$394,700
Cap Rate 9%
$306,989
Alternative Uses
Best Use
Multifamily LT 5
$394.7K
$345.4K – $460.5K
NOI $27,629 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$362.5K
$317.2K – $423.0K
NOI $25,377 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$451.2K
$394.8K – $526.4K
NOI $31,581 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,682
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
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 - Vacant two-unit property with renovated interiors, hardwood flooring, walk-in pantries, and direct-access garage.
Where is this duplex located?
The property is located at 1014 18 1/2 Ave NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with both units currently vacant; Renovated property originally built in 1900; Hardwood floors and walk‑in pantries in both units
