Two-Story Duplex with Updated
For Sale
$395,000
2309 Buchanan Street NE, Minneapolis, MN 55418
Residential Income, Minneapolis, MN
Property Size2,474 SF
Lot Size0.14 Acres
Price / SF$159.66
Days on Market158
Property Features for 2309 Buchanan Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 6
Parking features
Garage - Detached
Exterior features
Stucco, Vinyl
Subdivision
Windom Park
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
Johnson Street to 23rd Ave NE, West to Buchanan, North to 2309 on right side.
Standard status
Active
APN
1202924310040
Size
2,474 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8322
Utilities
Heating system
Forced Air
Amenities
hardwood floors
sun room
common laundry area
patio
storage
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Tamara B. Wenz
(651) 494-4000
Added: May 1
Changed: Oct 3
Last Checked: Oct 5 at 6:06PM
MLS# 7067789
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 2-story duplex contains two three-bedroom units within 2,474 square feet. Both units feature hardwood flooring, and the property includes a basement with shared laundry and storage areas. A rear patio, detached garage, stucco and vinyl exterior finishes, shingle roofing, and forced-air heating complete the improvements. The lot measures 0.14 acres, and the building dates to 1900.
Major system work includes new windows and a new roof completed in 2024. Outgoing plumbing was replaced with PVC pipe, while the main sewer line was descaled and lined in 2023. Both units are currently occupied. The property is located at 2309 Buchanan Street NE in Minneapolis, with access to shopping, restaurants, and downtown noted in the listing information.
Major system work includes new windows and a new roof completed in 2024. Outgoing plumbing was replaced with PVC pipe, while the main sewer line was descaled and lined in 2023. Both units are currently occupied. The property is located at 2309 Buchanan Street NE in Minneapolis, with access to shopping, restaurants, and downtown noted in the listing information.
Key Highlights
- 2,474‑square‑foot duplex with two 3‑bedroom units
- New windows and roof completed in 2024
- Outgoing plumbing replaced with PVC pipe; main sewer line descaled and lined in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,147
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,940
$722.9K
Cap Rate 7%
$516,386
$516.4K
Cap Rate 9%
$401,633
$401.6K
Market Conditions
NOI Build-Up for 2,474 SF
Gross rent
$54.9K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$51.6K $20.87/SF
− OpEx
−$15.5K −$6.26/SF
NOI
$36.1K $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%
$722,940
Cap Rate 7%
$516,386
Cap Rate 9%
$401,633
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$474.3K
$415.0K – $553.3K
NOI $33,200 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$590.2K
$516.5K – $688.6K
NOI $41,317 @ 7.0% cap · market cap 10.46%
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
1,257
Businesses Nearby
Explore this area
Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
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 - Two three-bedroom units offer hardwood floors, shared basement laundry, storage, and a detached garage.
Where is this duplex located?
The property is located at 2309 Buchanan Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,474‑square‑foot duplex with two 3‑bedroom units; New windows and roof completed in 2024; Outgoing plumbing replaced with PVC pipe; main sewer line descaled and lined in 2023
