Freshly Renovated Duplex with Detached
New
For Sale
$315,000
2218 Irving Avenue N, Minneapolis, MN 55411
MULTI_FAMILY - Minneapolis, MN
Property Size1,876 SF
Lot Size0.17 Acres
Price / SF$167.91
Days on Market5
Property Features for 2218 Irving Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 5, Basement, Bedroom 2
Parking features
Garage - Detached
Exterior features
Stucco
Subdivision
Forest Heights
Lot features
Tree Coverage - Medium
High school district
Minneapolis
Directions
Broadway to Irving North to Home.
Standard status
Active
APN
1602924240014
Size
1,876 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12425
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Keller Williams Classic Rlty NW · Keller Williams Realty
(763) 463-7500
Listed By:
Michael Moe
(763) 657-4444
Added: Jul 27
Changed: Jul 31
Last Checked: Jul 31 at 5:06PM
MLS# 7113109
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.
Freshly renovated duplex with extensive interior updates, including a redesigned upper level with a larger kitchen and bedrooms, plus new flooring, cabinets, appliances, stone countertops, lighting, and fresh paint throughout. The lower unit includes in-unit laundry. The upper unit is already plumbed and ready for a washer and dryer.
The lower level is served by a new furnace and water heater. The property has forced-air heating, a shingle roof, and stucco exterior, and it includes a detached two-stall garage to help keep vehicles off the street.
Set on a 0.17-acre lot with 1,876 square feet, the building was constructed in 1900. It is located with quick access to Theodore Wirth Regional Park and Golf Course.
The lower level is served by a new furnace and water heater. The property has forced-air heating, a shingle roof, and stucco exterior, and it includes a detached two-stall garage to help keep vehicles off the street.
Set on a 0.17-acre lot with 1,876 square feet, the building was constructed in 1900. It is located with quick access to Theodore Wirth Regional Park and Golf Course.
Key Highlights
- 0.17‑acre lot with 1,876 SF duplex
- Lower unit includes in‑unit laundry
- Upper unit is pre‑plumbed for a washer and dryer
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 | $41.6k | $22.20 |
| − Vacancy | −$2.5k | −$1.33 |
| EGI | $39.2k | $20.87 |
| − OpEx | −$11.7k | −$6.26 |
| NOI | $27.4k | $14.61 |
1,876 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$391.6K
$342.6K – $456.8K
NOI $27,410 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$359.6K
$314.7K – $419.6K
NOI $25,175 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$447.6K
$391.6K – $522.2K
NOI $31,330 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
942
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
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with in-unit laundry and an upper unit pre-plumbed for washer and dryer, plus a detached two-stall garage.
Where is this duplex located?
The property is located at 2218 Irving Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 0.17‑acre lot with 1,876 SF duplex; Lower unit includes in‑unit laundry; Upper unit is pre‑plumbed for a washer and dryer
