Side-By-Side
For Sale
$319,000
2105 Russell Avenue N, Minneapolis, MN 55411
Residential Income, Minneapolis, MN
Property Size1,664 SF
Lot Size0.14 Acres
Price / SF$191.71
Days on Market70
Property Features for 2105 Russell Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Exterior features
Vinyl
Subdivision
Wyant and Kiichlis
High school district
Minneapolis
Directions
Broadway to Penn south to 21st Avenue west to Russell north to Home.
Standard status
Active
APN
1702924140155
Size
1,664 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5154
Utilities
Heating system
Forced Air
Building Details
Year built
1964
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Derwayne Isaac Moore
(612) 821-7400
Added: Jun 12
Changed: Aug 19
Last Checked: Aug 20 at 5:06PM
MLS# 7092271
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.
Investment Insights
Based on property information with market context.
This side-by-side duplex in North Minneapolis offers two self-contained units. Each unit features two bedrooms and one full bathroom, along with an updated kitchen and functional layout. The property also includes a full unfinished basement that could provide additional usable space if finished in the future. Exterior features include vinyl, and the home is heated with forced air.
Built in 1964, the duplex sits on a 0.14-acre lot. The location places it near parks, transit options, shopping, and major commuter routes, supporting both owner-occupant and rental use.
The layout is supported by multiple interior rooms, including bedrooms and bathrooms for each unit, and a basement area suitable for storage or potential expansion.
Built in 1964, the duplex sits on a 0.14-acre lot. The location places it near parks, transit options, shopping, and major commuter routes, supporting both owner-occupant and rental use.
The layout is supported by multiple interior rooms, including bedrooms and bathrooms for each unit, and a basement area suitable for storage or potential expansion.
Key Highlights
- Side‑by‑side duplex in Minneapolis
- Each unit has two bedrooms and one full bathroom
- Updated kitchen in each unit
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
$24,312
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
7.62%
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%
$486,240
$486.2K
Cap Rate 7%
$347,314
$347.3K
Cap Rate 9%
$270,133
$270.1K
Market Conditions
NOI Build-Up for 1,664 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
$36.9K $22.20/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$34.7K $20.87/SF
− OpEx
−$10.4K −$6.26/SF
NOI
$24.3K $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%
$486,240
Cap Rate 7%
$347,314
Cap Rate 9%
$270,133
Alternative Uses
Best Use
Multifamily LT 5
$347.3K
$303.9K – $405.2K
NOI $24,312 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$319.0K
$279.1K – $372.2K
NOI $22,330 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$397.0K
$347.4K – $463.2K
NOI $27,790 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with updated kitchens and two bedrooms per unit, plus a full unfinished basement.
Where is this duplex located?
The property is located at 2105 Russell Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Side‑by‑side duplex in Minneapolis; Each unit has two bedrooms and one full bathroom; Updated kitchen in each unit
