Duplex with Detached
For Sale
$749,900
2508 W 39th Street, Minneapolis, MN 55410
MULTI_FAMILY - Minneapolis, MN
Property Size3,070 SF
Lot Size0.16 Acres
Price / SF$244.27
Days on Market84
Property Features for 2508 W 39th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 4, Bedroom 4, Basement
Parking features
Garage - Detached
Exterior features
Brick/Stone, Stucco
Subdivision
Linden Hills
High school district
Minneapolis
Directions
CORNER 39TH AND SHERIDAN AVE SOUTH
Standard status
Active
APN
0802824110019
Size
3,070 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14907
Utilities
Heating system
Forced Air
Building Details
Year built
1952
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(763) 682-3030
Listed By:
Jim Diorio
(952) 226-7700
Added: May 23
Changed: Aug 4
Last Checked: Aug 14 at 8:06AM
MLS# 7070805
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.
Duplex at 2508 W 39th Street, Minneapolis, MN 55410, built in 1952 and designed with two residential units. The property includes a basement and features an exterior of brick/stone and stucco, with forced-air heating and a detached garage for parking.
Recent mechanical improvements include a new roof in 2024, new A/C for both units in 2025, a new furnace for Unit 2508 in 2025, and a new furnace for Unit 2510 in 2024. Interior features referenced include hardwood floors, classic fireplaces, spacious layouts, and abundant natural light.
The property is described as being close to walking and biking trails, parks, restaurants, coffee shops, shopping, and public transportation, with a nearby bus stop. The location is also noted as being about a block from the shores of Bde Maka Ska and near Thomas Beach, supporting tenant and owner-occupant convenience for nearby lake and recreation amenities.
Recent mechanical improvements include a new roof in 2024, new A/C for both units in 2025, a new furnace for Unit 2508 in 2025, and a new furnace for Unit 2510 in 2024. Interior features referenced include hardwood floors, classic fireplaces, spacious layouts, and abundant natural light.
The property is described as being close to walking and biking trails, parks, restaurants, coffee shops, shopping, and public transportation, with a nearby bus stop. The location is also noted as being about a block from the shores of Bde Maka Ska and near Thomas Beach, supporting tenant and owner-occupant convenience for nearby lake and recreation amenities.
Key Highlights
- Duplex at 2508 W 39th Street, Minneapolis, MN 55410
- Lot size: 0.16 acres
- Built in 1952
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
$44,855
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
5.98%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - Well-maintained duplex with detached garage, brick/stone and stucco exterior, and forced-air heating.
Where is this duplex located?
The property is located at 2508 W 39th Street 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: Duplex at 2508 W 39th Street, Minneapolis, MN 55410; Lot size: 0.16 acres; Built in 1952
