Charming Up-Down
2206 Arthur Street NE Minneapolis, MN 55418
2206 Arthur Street NE, Minneapolis, MN, 55418
$499,000
For Sale
$499,000
MULTI_FAMILY - Minneapolis, MN
Property Size2,618 SF
Lot Size0.12 Acres
Price / SF$190.60
Days on Market20
Property Features for 2206 Arthur Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bathroom 2, Bathroom 3
- Parking features
- Open, Garage - Attached, Driveway
- Exterior features
- Stucco, Wood
- Standard status
- Active
- APN
- 1202924420165
- Size
- 2,618 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8080
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1949
Listing agency
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed by
Jamie Bolinger
(612) 821-7400
Added: Jul 2 Updated: Jul 18 at 12:48AM Checked: Jul 21 at 11:06AM
MLS# 7101743
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 up-down duplex offers two separate residential units with a practical mix of occupancy. The lower unit is currently vacant and configured with four bedrooms and two bathrooms, ready for an owner-occupant or a new tenant. The upper unit is a one-bedroom, one-bath layout and is leased through September 2026.
The property has been maintained with multiple recent improvements. Updates include a new roof in 2021, two new furnaces in 2023, and new air conditioning for the upper unit in 2023. The lower unit renovations include new carpet, fresh paint, a bathroom refresh, butcher block countertops, and updated hardware.
From a tenant and operator standpoint, the vacant lower unit provides immediate flexibility, while the upper unit’s existing lease offers continued income coverage. For buyers considering either investment or owner-occupancy, the duplex format supports separate living arrangements within one property, with meaningful updates already in place.
The property has been maintained with multiple recent improvements. Updates include a new roof in 2021, two new furnaces in 2023, and new air conditioning for the upper unit in 2023. The lower unit renovations include new carpet, fresh paint, a bathroom refresh, butcher block countertops, and updated hardware.
From a tenant and operator standpoint, the vacant lower unit provides immediate flexibility, while the upper unit’s existing lease offers continued income coverage. For buyers considering either investment or owner-occupancy, the duplex format supports separate living arrangements within one property, with meaningful updates already in place.
Key Highlights
- Up/down duplex in Windom Park with a vacant lower unit (4 beds, 2 baths) for immediate owner‑occupant flexibility or leasing.
- Upper 1‑bedroom, 1‑bath unit is leased through September 2026 for $1,400/month.
- Previously leased lower unit income of $2,575/month; provides documented rental history for the 4‑bed/2‑bath space.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.1k | $22.20 |
| − Vacancy | −$3.5k | −$1.33 |
| EGI | $54.6k | $20.87 |
| − OpEx | −$16.4k | −$6.26 |
| NOI | $38.3k | $14.61 |
2,618 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$546.4K
$478.1K – $637.5K
NOI $38,251 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$501.9K
$439.2K – $585.6K
NOI $35,133 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$624.6K
$546.5K – $728.7K
NOI $43,722 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex with an updated vacant lower unit and an occupied upper unit through September 2026.
Where is this duplex located?
The property is located at 2206 Arthur Street NE 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: Up/down duplex in Windom Park with a vacant lower unit (4 beds, 2 baths) for immediate owner‑occupant flexibility or leasing.; Upper 1‑bedroom, 1‑bath unit is leased through September 2026 for $1,400/month.; Previously leased lower unit income of $2,575/month; provides documented rental history for the 4‑bed/2‑bath space.
