Remodeled Up-and-Down
For Sale
$234,900
2219 29th Ave N, Minneapolis, MN 55411
Two residential units feature updated finishes, distinct layouts, and individually metered utilities.
Property Size1,599 SF
Price / SF$146.90
Days on Market151
Property Features for 2219 29th Ave N
General Information
Standard status
Active
Size
1,599 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,591
Building Details
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Lexi Clercx
(608) 386-8804
Source:
Exprealty
Added: May 8
Changed: Sep 14
Last Checked: Oct 4 at 4:12PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This two-level duplex at 2219 29th Ave N in Minneapolis has been renovated with distinct living spaces on each floor. The main residence includes hardwood flooring, built-in cabinetry, white shaker cabinets, quartz work surfaces, stainless steel appliances, a sizable bedroom, and a full bathroom. Upstairs, the second residence offers additional hardwood floors, two bedrooms, and a refreshed bathroom with a tiled shower surround.
Each unit has separate utilities, supporting independent household operations. The property is positioned for either an owner-occupant arrangement or an investment use, with both homes contained within the same building. Parks, shopping, restaurants, and commuter routes are identified as accessible from the property.
Each unit has separate utilities, supporting independent household operations. The property is positioned for either an owner-occupant arrangement or an investment use, with both homes contained within the same building. Parks, shopping, restaurants, and commuter routes are identified as accessible from the property.
Key Highlights
- Two‑level duplex with a remodeled interior
- Main‑floor unit includes hardwood floors, built‑ins, quartz counters, and stainless appliances
- Upper unit provides 2 bedrooms and an updated full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,458
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,160
$429.2K
Cap Rate 7%
$306,543
$306.5K
Cap Rate 9%
$238,422
$238.4K
Market Conditions
NOI Build-Up for 1,599 SF
Gross rent
$41.6K $26.04/SF
− Vacancy
−$2.6K −$1.64/SF
EGI
$39.0K $24.40/SF
− OpEx
−$17.6K −$10.98/SF
NOI
$21.5K $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%
$429,160
Cap Rate 7%
$306,543
Cap Rate 9%
$238,422
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.0K – $389.4K
NOI $23,363 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$306.5K
$268.2K – $357.6K
NOI $21,458 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$381.5K
$333.8K – $445.1K
NOI $26,704 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
538
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two residential units feature updated finishes, distinct layouts, and individually metered utilities.
Where is this duplex located?
The property is located at 2219 29th Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑level duplex with a remodeled interior; Main‑floor unit includes hardwood floors, built‑ins, quartz counters, and stainless appliances; Upper unit provides 2 bedrooms and an updated full bath
