Renovated Victorian
New
For Sale
$499,900
2630 Blaisdell Avenue, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size3,164 SF
Lot Size0.17 Acres
Price / SF$157
Days on Market5
Property Features for 2630 Blaisdell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 3, Basement, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 4
Parking features
Driveway
Exterior features
Stucco
Fencing
Chain Link
Subdivision
J T Blaisdells Rev Add
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
35w, go west at East 26th Street to Blaisdell Av So one half block to property on west side of street.
Standard status
Active
APN
3402924310005
Size
3,164 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11205
Utilities
Heating system
Steam, Oil
Building Details
Year built
1900
Listing Agency:
Northstar Real Estate Associates
Listed By:
Michael Kootsikas
(651) 451-2850
Added: Sep 11
Last Checked: Sep 15 at 2:06AM
MLS# 7143326
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 1900 Victorian quadplex contains 3,164 square feet across four units, with two residences on the main level and two on the second floor. Each upper apartment connects to an unfinished third-floor loft, creating additional space that remains outside the current finished-unit layout. Renovations include new interior doors, appliances, fresh paint, and updates throughout the four apartments, while most windows have also been replaced.
The property occupies 0.17 acres at 2630 Blaisdell Avenue in Minneapolis. Exterior features include stucco siding, chain-link fencing, and a rear driveway. Heating is provided by steam and oil systems, and the building includes a basement.
The property occupies 0.17 acres at 2630 Blaisdell Avenue in Minneapolis. Exterior features include stucco siding, chain-link fencing, and a rear driveway. Heating is provided by steam and oil systems, and the building includes a basement.
Key Highlights
- Four‑unit Victorian property built in 1900
- 3,164 square feet on a 0.17‑acre lot
- Two main‑level units and two second‑floor units
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
$42,460
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
8.49%
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%
$849,200
$849.2K
Cap Rate 7%
$606,571
$606.6K
Cap Rate 9%
$471,778
$471.8K
Market Conditions
NOI Build-Up for 3,164 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
$82.4K $26.04/SF
− Vacancy
−$5.2K −$1.64/SF
EGI
$77.2K $24.40/SF
− OpEx
−$34.7K −$10.98/SF
NOI
$42.5K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$849,200
Cap Rate 7%
$606,571
Cap Rate 9%
$471,778
Alternative Uses
Best Use
Multifamily LT 5
$660.4K
$577.9K – $770.5K
NOI $46,228 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$606.6K
$530.8K – $707.7K
NOI $42,460 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$754.9K
$660.5K – $880.7K
NOI $52,841 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Four-unit property with updated interiors, rear driveway parking, and unfinished loft areas above the second-floor apartments.
Where is this quadplex located?
The property is located at 2630 Blaisdell Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four‑unit Victorian property built in 1900; 3,164 square feet on a 0.17‑acre lot; Two main‑level units and two second‑floor units
