Character-Filled Duplex with Hardwood
For Sale
$749,900
2508 W 39th St, Minneapolis, MN 55410
Two-unit property with classic fireplaces, spacious interiors, and recent mechanical improvements near Bde Maka Ska.
Property Size3,070 SF
Price / SF$244.27
Days on Market78
Property Features for 2508 W 39th St
General Information
Standard status
Active
Size
3,070 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1952
Buildings
1
Listing Agency:
RE/MAX Advantage Plus
Listed By:
Jim DiOrio
(612) 366-1627
Source:
Bradadamrealty
Added: Aug 1
Changed: Oct 5
Last Checked: Oct 7 at 1:59PM
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 RE/MAX Advantage Plus
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Investment Insights
Based on property information with market context.
This Minneapolis duplex contains 3,070 square feet and was built in 1952. Both residences offer hardwood flooring, classic fireplaces, generous layouts, and abundant natural light. Recent improvements include a replacement roof in 2024, new air conditioning serving both units in 2025, and updated furnaces for Unit 2508 in 2025 and Unit 2510 in 2024.
The property is located at 2508 W 39th St, one block from the shores of Bde Maka Ska and near Thomas Beach. Walking and biking trails, parks, restaurants, coffee shops, shopping, and public transportation are nearby, with a bus stop in the area. The two-unit configuration supports either investment ownership or an owner-occupied arrangement.
The property is located at 2508 W 39th St, one block from the shores of Bde Maka Ska and near Thomas Beach. Walking and biking trails, parks, restaurants, coffee shops, shopping, and public transportation are nearby, with a bus stop in the area. The two-unit configuration supports either investment ownership or an owner-occupied arrangement.
Key Highlights
- 3,070‑square‑foot duplex built in 1952
- One block from the shores of Bde Maka Ska and near Thomas Beach
- Hardwood floors, classic fireplaces, spacious layouts, and abundant natural light in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,855
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$897,100
$897.1K
Cap Rate 7%
$640,786
$640.8K
Cap Rate 9%
$498,389
$498.4K
Market Conditions
NOI Build-Up for 3,070 SF
Gross rent
$68.2K $22.20/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$64.1K $20.87/SF
− OpEx
−$19.2K −$6.26/SF
NOI
$44.9K $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%
$897,100
Cap Rate 7%
$640,786
Cap Rate 9%
$498,389
Alternative Uses
Best Use
Multifamily LT 5
$640.8K
$560.7K – $747.6K
NOI $44,855 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$588.6K
$515.0K – $686.7K
NOI $41,199 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$732.4K
$640.9K – $854.5K
NOI $51,271 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 55410, MN
21,352
Population
8,685
Households
2.5
Avg Household Size
40
Median Age
78%
College-Educated
99%
High-School Grad
3.1 sq mi
ZIP Area
6,888
Density / Sq Mi
$144,973
Median Household Income
$77,518
Median Earnings
$1,622
Median Rent
$597,400
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with classic fireplaces, spacious interiors, and recent mechanical improvements near Bde Maka Ska.
Where is this duplex located?
The property is located at 2508 W 39th St Minneapolis, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 3,070‑square‑foot duplex built in 1952; One block from the shores of Bde Maka Ska and near Thomas Beach; Hardwood floors, classic fireplaces, spacious layouts, and abundant natural light in both units
