Up-Down Duplex with Unfinished
For Sale
$320,000
2313 Glenwood Avenue, Minneapolis, MN 55405
Residential Income, Minneapolis, MN
Property Size1,923 SF
Lot Size0.13 Acres
Price / SF$166.41
Days on Market107
Property Features for 2313 Glenwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Basement
Parking features
Garage - Detached
Exterior features
Vinyl
Fencing
Chain Link
Subdivision
A T Ankenys Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
On Glenwood west of Penn, between Queen and Russell
Standard status
Active
APN
2002924440007
Size
1,923 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4131
Utilities
Heating system
Hot Water(Heating)
Amenities
hardwood floors
open front porch
enclosed rear porch
full unfinished basement
Building Details
Year built
1905
Building materials
Frame
Roof type
Shingle
Listing Agency:
Lakes Area Realty
(612) 874-1916
Listed By:
Patrick M Paulson
(612) 867-5624
Added: May 6
Changed: Aug 19
Last Checked: Aug 20 at 10:06PM
MLS# 7062206
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 up-down duplex at 2313 Glenwood Avenue in Minneapolis offers distinct living areas with practical room sizes. The upper level includes two bedrooms, and the lower level includes one bedroom plus a den/hobby room, with the front entrance going through that space. The home has a full unfinished basement and hardwood floors, plus a mix of outdoor living space including an open front porch at the main level and an enclosed rear porch on the upper floor. Exterior finishes include vinyl, and the property is constructed with frame materials. Heating is provided via hot water, and the property has a detached garage.
The duplex is located in a good area near Theodore Worth, with parks and trails nearby and access to downtown.
The duplex is located in a good area near Theodore Worth, with parks and trails nearby and access to downtown.
Key Highlights
- Upstairs has two bedrooms; downstairs has one bedroom plus a den/hobby room
- Full unfinished basement
- Hardwood floors throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,096
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,920
$561.9K
Cap Rate 7%
$401,371
$401.4K
Cap Rate 9%
$312,178
$312.2K
Market Conditions
NOI Build-Up for 1,923 SF
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.
Gross rent
$42.7K $22.20/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$40.1K $20.87/SF
− OpEx
−$12.0K −$6.26/SF
NOI
$28.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,920
Cap Rate 7%
$401,371
Cap Rate 9%
$312,178
Alternative Uses
Best Use
Multifamily LT 5
$401.4K
$351.2K – $468.3K
NOI $28,096 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$368.7K
$322.6K – $430.1K
NOI $25,806 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$458.8K
$401.4K – $535.3K
NOI $32,115 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
401
Businesses Nearby
Explore this area
Business Placement
Demographics for 55405, MN
15,497
Population
8,724
Households
1.8
Avg Household Size
34
Median Age
59%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
5,535
Density / Sq Mi
$70,425
Median Household Income
$47,271
Median Earnings
$1,188
Median Rent
$450,200
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 - Upstairs offers two bedrooms, while the lower level has one bedroom plus a den/hobby room and a full unfinished basement.
Where is this duplex located?
The property is located at 2313 Glenwood Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Upstairs has two bedrooms; downstairs has one bedroom plus a den/hobby room; Full unfinished basement; Hardwood floors throughout
