Duplex with In-Unit
For Sale
$550,000
1513 Washington St Ne, Minneapolis, MN 55413
Both residences include renovated kitchens, central air conditioning, and their own washer and dryer.
Property Size3,077 SF
Price / SF$178.75
Days on Market12
Property Features for 1513 Washington St Ne
General Information
Standard status
Active
Size
3,077 SF
Total Parking Spaces
5
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,783
Amenities
in-unit washer/dryer
central air conditioning
yard
patio
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
David R Bialke
(612) 791-3620
Source:
Exprealty
Added: Oct 12
Changed: Oct 21
Last Checked: Oct 21 at 2:19AM
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 Keller Williams Realty Integrity Lakes
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Investment Insights
Based on property information with market context.
This 3,077-square-foot duplex at 1513 Washington St. NE in Minneapolis has two residences: a four-bedroom main-level unit and a three-bedroom upper unit. Each has a renovated kitchen, central air conditioning, and an in-unit washer and dryer. The property also has updated mechanical systems.
Outdoor and parking features include a back patio, side yard, a two-car garage, and three additional parking spaces. The two-unit configuration and separate laundry facilities provide distinct living spaces within one property.
Outdoor and parking features include a back patio, side yard, a two-car garage, and three additional parking spaces. The two-unit configuration and separate laundry facilities provide distinct living spaces within one property.
Key Highlights
- Two‑unit duplex totaling 3,077 square feet
- Four‑bedroom main‑level unit and three‑bedroom upper unit
- Renovated kitchens and central air conditioning 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,834
Businesses Nearby
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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 - Both residences include renovated kitchens, central air conditioning, and their own washer and dryer.
Where is this duplex located?
The property is located at 1513 Washington St 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 duplex totaling 3,077 square feet; Four‑bedroom main‑level unit and three‑bedroom upper unit; Renovated kitchens and central air conditioning in both units
