Duplex with In-Unit
For Sale
$428,900
Pending
2410 Quincy Street NE, Minneapolis, MN 55418
Residential Income, Minneapolis, MN
Property Size1,848 SF
Lot Size0.11 Acres
Days on Market81
Property Features for 2410 Quincy Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family, Residential-Single Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3
Parking features
On Street
Exterior features
Vinyl
Fencing
Chain Link
Subdivision
Wilsons Rgt Blks East Side Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
Lowry to Quincy. South on Quincy to home
Standard status
Pending
APN
1102924410115
Size
1,848 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5836
Utilities
Heating system
Forced Air
Amenities
in unit laundry
spacious kitchens
granite counters
front porch
rear patio
fenced in backyard
hardwood floors
abundant storage in basement
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
David J Doran · License #262685
(612) 751-9303
Added: Jun 4
Changed: Aug 22
Last Checked: Aug 23 at 2:06AM
MLS# 7086668
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 Minneapolis duplex contains two 2-bedroom, 1-bath residences within 1,848 square feet. The main-floor and upper-level units each offer in-unit laundry, generous kitchens with granite countertops, hardwood flooring, and basement storage. A front porch, rear patio, and chain-link enclosed yard add outdoor space. Two forced-air furnaces were installed in 2024.
Built in 1900 on a 0.11-acre parcel, the vinyl-sided property includes shingle roofing and on-street parking. The main-level residence is leased through July 31, 2026, while the upper unit is leased through March 31, 2027. Residents are responsible for gas and electric service. The property is located at 2410 Quincy Street NE in Minneapolis, near restaurants, cafes, and parks.
Built in 1900 on a 0.11-acre parcel, the vinyl-sided property includes shingle roofing and on-street parking. The main-level residence is leased through July 31, 2026, while the upper unit is leased through March 31, 2027. Residents are responsible for gas and electric service. The property is located at 2410 Quincy Street NE in Minneapolis, near restaurants, cafes, and parks.
Key Highlights
- Two 2‑bedroom, 1‑bath units within 1,848 square feet
- Two new furnaces installed in 2024
- In‑unit laundry, granite kitchen counters, and hardwood floors
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
$27,001
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
6.30%
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%
$540,020
$540.0K
Cap Rate 7%
$385,729
$385.7K
Cap Rate 9%
$300,011
$300.0K
Market Conditions
NOI Build-Up for 1,848 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
$41.0K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$38.6K $20.87/SF
− OpEx
−$11.6K −$6.26/SF
NOI
$27.0K $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%
$540,020
Cap Rate 7%
$385,729
Cap Rate 9%
$300,011
Alternative Uses
Best Use
Multifamily LT 5
$385.7K
$337.5K – $450.0K
NOI $27,001 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$354.3K
$310.0K – $413.3K
NOI $24,800 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,313
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
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 - Two renovated furnaces, separate laundry, and outdoor areas support the property’s two-unit residential configuration.
Where is this duplex located?
The property is located at 2410 Quincy Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $428,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within 1,848 square feet; Two new furnaces installed in 2024; In‑unit laundry, granite kitchen counters, and hardwood floors
