Duplex with Separate
For Sale
$275,000
3339 Aldrich Avenue N, Minneapolis, MN 55412
Upper and lower residences have independent entrances and utility service.
Property Size1,700 SF
Price / SF$161.76
Days on Market10
Property Features for 3339 Aldrich Avenue N
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1898
Listing Agency:
Realty One Group Simplified
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 29
Changed: Oct 7
Last Checked: Oct 7 at 12:07PM
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 Simplified
Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex, built in 1898, has two distinct residences on upper and lower levels. Each unit has its own entrance and separate utilities. The lower residence includes hardwood floors, a large kitchen, and two porch areas.
Recent work includes completion of a lead abatement program, window replacements, and paint projects. The roof was replaced in 2019, and garage doors were installed in 2023.
The property is in Minneapolis, with access to public transportation, parks, and downtown.
Recent work includes completion of a lead abatement program, window replacements, and paint projects. The roof was replaced in 2019, and garage doors were installed in 2023.
The property is in Minneapolis, with access to public transportation, parks, and downtown.
Key Highlights
- Two‑unit property totaling 1,700 square feet
- Separate entrances and utilities for each residence
- Lower unit features hardwood floors, a large kitchen, and two porch areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,838
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,760
$496.8K
Cap Rate 7%
$354,829
$354.8K
Cap Rate 9%
$275,978
$276.0K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$37.7K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$35.5K $20.87/SF
− OpEx
−$10.6K −$6.26/SF
NOI
$24.8K $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 Rate 5%
$496,760
Cap Rate 7%
$354,829
Cap Rate 9%
$275,978
Alternative Uses
Best Use
Multifamily LT 5
$354.8K
$310.5K – $414.0K
NOI $24,838 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,814 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$405.6K
$354.9K – $473.2K
NOI $28,391 @ 7.0% cap · market cap 10.32%
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
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 55412, MN
23,800
Population
9,676
Households
2.5
Avg Household Size
33
Median Age
28%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,000
Density / Sq Mi
$71,905
Median Household Income
$42,494
Median Earnings
$1,340
Median Rent
$226,400
Median Home Value
Check the figures for this property
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 - Upper and lower residences have independent entrances and utility service.
Where is this duplex located?
The property is located at 3339 Aldrich Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit property totaling 1,700 square feet; Separate entrances and utilities for each residence; Lower unit features hardwood floors, a large kitchen, and two porch areas
