Renovated Duplex with
For Sale
$279,900
2218 Irving Ave N, Minneapolis, MN 55411
Updated duplex with refreshed interiors, laundry amenities, and garage parking.
Property Size1,876 SF
Price / SF$149.20
Days on Market51
Property Features for 2218 Irving Ave N
General Information
Standard status
Active
Size
1,876 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Classic Rlty NW
Listed By:
Michael Moe
(218) 310-5947
Source:
Thehomeadvantagegroup
Added: Aug 16
Changed: Sep 30
Last Checked: Oct 4 at 11:27AM
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 Classic Rlty NW
Investment Insights
Based on property information with market context.
This 1,876-square-foot duplex in Minneapolis has updated interiors across both levels. The upper unit includes an enlarged kitchen and bedrooms, while new flooring, cabinetry, appliances, stone countertops, lighting, and paint contribute to the renovation throughout the property. The lower unit has in-unit laundry, and the upper unit is plumbed for a washer and dryer.
A new furnace and water heater serve the lower level. The property also includes a two-stall garage for off-street vehicle storage. Located at 2218 Irving Ave N, the duplex offers access to Theodore Wirth Regional Park and Golf Course.
A new furnace and water heater serve the lower level. The property also includes a two-stall garage for off-street vehicle storage. Located at 2218 Irving Ave N, the duplex offers access to Theodore Wirth Regional Park and Golf Course.
Key Highlights
- 1,876‑square‑foot duplex in Minneapolis
- Upper unit redesigned with a larger kitchen and bedrooms
- Updated flooring, cabinets, appliances, stone countertops, lighting, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,175
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,500
$503.5K
Cap Rate 7%
$359,643
$359.6K
Cap Rate 9%
$279,722
$279.7K
Market Conditions
NOI Build-Up for 1,876 SF
Gross rent
$48.9K $26.04/SF
− Vacancy
−$3.1K −$1.64/SF
EGI
$45.8K $24.40/SF
− OpEx
−$20.6K −$10.98/SF
NOI
$25.2K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,500
Cap Rate 7%
$359,643
Cap Rate 9%
$279,722
Alternative Uses
Best Use
Multifamily LT 5
$391.6K
$342.6K – $456.8K
NOI $27,410 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$359.6K
$314.7K – $419.6K
NOI $25,175 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$447.6K
$391.6K – $522.2K
NOI $31,330 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
942
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with refreshed interiors, laundry amenities, and garage parking.
Where is this duplex located?
The property is located at 2218 Irving Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,876‑square‑foot duplex in Minneapolis; Upper unit redesigned with a larger kitchen and bedrooms; Updated flooring, cabinets, appliances, stone countertops, lighting, and paint
