Four-Level Duplex with Attached
2208 Milwaukee Avenue, Minneapolis, MN 55404
For Sale
$569,900
Residential Income, Minneapolis, MN
Property Size3,381 SF
Lot Size0.09 Acres
Price / SF$168.56
Days on Market49
Property Features for 2208 Milwaukee Avenue
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Subdivision
Lot features
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Amy Ruzick · License MN #20317563
(952) 829-2900
Added: Sep 25
Changed: Nov 11
Last Checked: Nov 12 at 7:06AM
MLS# 7150320
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 four-level duplex contains two units, with one spanning the upper floors and the other occupying the lower floors. Each residence has an updated kitchen and bathroom, its own laundry, and access to the attached, oversized two-car garage. The building offers 3,381 square feet on a 0.09-acre lot, plus a porch and deck.
Built in 1981, the property sits on Milwaukee Avenue, a pedestrian-only street within the Milwaukee Avenue Historic District. The lower unit is currently arranged as two furnished rentals. Recent building updates include two water heaters and two furnaces installed in 2021, along with replacement electrical panels the following year.
Built in 1981, the property sits on Milwaukee Avenue, a pedestrian-only street within the Milwaukee Avenue Historic District. The lower unit is currently arranged as two furnished rentals. Recent building updates include two water heaters and two furnaces installed in 2021, along with replacement electrical panels the following year.
Key Highlights
- Two‑unit, four‑level layout with 3,381 square feet
- Attached oversized two‑car garage with access from both units
- Each unit has its own laundry, updated kitchen, and updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,399
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,980
$988.0K
Cap Rate 7%
$705,700
$705.7K
Cap Rate 9%
$548,878
$548.9K
Market Conditions
NOI Build-Up for 3,381 SF
Gross rent
$75.1K $22.20/SF
− Vacancy
−$4.5K −$1.33/SF
EGI
$70.6K $20.87/SF
− OpEx
−$21.2K −$6.26/SF
NOI
$49.4K $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%
$987,980
Cap Rate 7%
$705,700
Cap Rate 9%
$548,878
Alternative Uses
Best Use
Multifamily LT 5
$705.7K
$617.5K – $823.3K
NOI $49,399 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$648.2K
$567.2K – $756.2K
NOI $45,372 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$806.6K
$705.8K – $941.1K
NOI $56,465 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,030
Businesses Nearby
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Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units each have updated kitchens and bathrooms, private laundry, and garage access.
Where is this duplex located?
The property is located at 2208 Milwaukee Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Two‑unit, four‑level layout with 3,381 square feet; Attached oversized two‑car garage with access from both units; Each unit has its own laundry, updated kitchen, and updated bathroom
