Renovated Duplex with Detached
New
For Sale
$499,000
3714 Bloomington Ave, Minneapolis, MN 55407
Updated duplex with a separate one-bedroom apartment, newer systems, and off-street parking in Powderhorn.
Property Size2,658 SF
Price / SF$187.74
Days on Market2
Property Features for 3714 Bloomington Ave
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Lakes Area Realty
Listed By:
Carrie E Augst
(612) 799-6449
Source:
Bethanynelsongroup
Added: Sep 5
Last Checked: Sep 6 at 11:11AM
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 Lakes Area Realty
Investment Insights
Based on property information with market context.
This 2,658-square-foot duplex, built in 1900, includes a separate-entry one-bedroom, one-bath apartment at the rear. Recent improvements include a new roof, new siding, an updated kitchen with stainless steel appliances and quartz countertops, newer windows, new skylights, bedroom carpeting, and a newer furnace. The property also offers substantial storage and a two-car detached garage.
Outdoor features include a deck with a connected gas grill, which remains with the home, along with the televisions. Sewer line work was completed in 2025, and additional off-street parking is available. The property is located on Bloomington Ave in Minneapolis's Powderhorn neighborhood.
Outdoor features include a deck with a connected gas grill, which remains with the home, along with the televisions. Sewer line work was completed in 2025, and additional off-street parking is available. The property is located on Bloomington Ave in Minneapolis's Powderhorn neighborhood.
Key Highlights
- 2,658‑square‑foot duplex built in 1900
- Separate‑entry 1 bed, 1 bath apartment
- New roof, new siding, and updated kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,835
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,700
$776.7K
Cap Rate 7%
$554,786
$554.8K
Cap Rate 9%
$431,500
$431.5K
Market Conditions
NOI Build-Up for 2,658 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.0K $22.20/SF
− Vacancy
−$3.5K −$1.33/SF
EGI
$55.5K $20.87/SF
− OpEx
−$16.6K −$6.26/SF
NOI
$38.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,700
Cap Rate 7%
$554,786
Cap Rate 9%
$431,500
Alternative Uses
Best Use
Multifamily LT 5
$554.8K
$485.4K – $647.3K
NOI $38,835 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$509.6K
$445.9K – $594.5K
NOI $35,670 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
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 - Updated duplex with a separate one-bedroom apartment, newer systems, and off-street parking in Powderhorn.
Where is this duplex located?
The property is located at 3714 Bloomington Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,658‑square‑foot duplex built in 1900; Separate‑entry 1 bed, 1 bath apartment; New roof, new siding, and updated kitchen
