Updated Duplex with Central
For Sale
Under Contract
$550,000
1513 Washington Street NE, Minneapolis, MN 55413
Residential Income, Minneapolis, MN
Property Size3,077 SF
Lot Size0.18 Acres
Price / SF$178.75
Days on Market8
Property Features for 1513 Washington Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Basement, Bedroom 7, Bedroom 4, Bedroom 6, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Garage, Driveway, Garage - Detached
Subdivision
Mcmillans Add
High school district
Minneapolis
Directions
Broadway St NE to Washington St NE, north on Washington St to home
Standard status
Active Under Contract
APN
1402924120089
Size
3,077 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8783
Utilities
Heating system
Forced Air
Amenities
in-unit washer/dryer
central air conditioning
yard
patio
Building Details
Year built
1900
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
David R Bialke
(612) 821-7400
Added: Oct 12
Changed: Oct 17
Last Checked: Oct 19 at 6:06AM
MLS# 7156382
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,077-square-foot duplex contains a four-bedroom main-level residence and a three-bedroom upper residence. Both units have renovated kitchens, updated mechanical systems, central air conditioning, and their own washer and dryer. The property was built in 1900 and occupies a 0.18-acre lot.
Outdoor features include a back patio and side yard. Parking consists of a detached two-car garage and three additional driveway spaces.
Outdoor features include a back patio and side yard. Parking consists of a detached two-car garage and three additional driveway spaces.
Key Highlights
- Two‑unit layout with four bedrooms on the main level and three upstairs
- 3,077 square feet on a 0.18‑acre lot
- Renovated kitchens, refreshed mechanical systems, and central air in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,957
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,140
$899.1K
Cap Rate 7%
$642,243
$642.2K
Cap Rate 9%
$499,522
$499.5K
Market Conditions
NOI Build-Up for 3,077 SF
Gross rent
$68.3K $22.20/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$64.2K $20.87/SF
− OpEx
−$19.3K −$6.26/SF
NOI
$45.0K $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%
$899,140
Cap Rate 7%
$642,243
Cap Rate 9%
$499,522
Alternative Uses
Best Use
Multifamily LT 5
$642.2K
$562.0K – $749.3K
NOI $44,957 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$589.9K
$516.2K – $688.2K
NOI $41,292 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 55413, MN
13,914
Population
8,080
Households
1.7
Avg Household Size
34
Median Age
58%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
4,488
Density / Sq Mi
$84,252
Median Household Income
$57,091
Median Earnings
$1,497
Median Rent
$354,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer renovated kitchens, individual laundry facilities, and refreshed mechanical systems.
Where is this duplex located?
The property is located at 1513 Washington Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit layout with four bedrooms on the main level and three upstairs; 3,077 square feet on a 0.18‑acre lot; Renovated kitchens, refreshed mechanical systems, and central air in both units
