Updated Two-Unit
For Sale
$279,900
2631 Girard Avenue N, Minneapolis, MN 55411
The two residences offer a two-bedroom layout downstairs and a three-bedroom layout upstairs, each with one bathroom.
Property Size1,709 SF
Price / SF$163.78
Days on Market34
Property Features for 2631 Girard Avenue N
General Information
Standard status
Active
Size
1,709 SF
Property subtype
Duplex Up and Down
Site & Location
Neighborhood
Near North
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Derwayne Isaac Moore
(651) 331-1207
Source:
Ashworthre
Added: Sep 28
Changed: Oct 30
Last Checked: Oct 30 at 12:27PM
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 Keller Williams Realty Integrity Lakes
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Investment Insights
Based on property information with market context.
This 1,709-square-foot duplex in Minneapolis has a vertical two-unit configuration. The main-floor residence contains two bedrooms and one bathroom; the upper-floor unit has three bedrooms and one bathroom. Built in 1900, the property has undergone updates throughout, with a refreshed interior presentation.
The property is located at 2631 Girard Avenue N in the Jordan neighborhood. Parks, schools, shopping, dining, downtown Minneapolis, and major commuter routes are identified among the surrounding amenities and connections.
The property is located at 2631 Girard Avenue N in the Jordan neighborhood. Parks, schools, shopping, dining, downtown Minneapolis, and major commuter routes are identified among the surrounding amenities and connections.
Key Highlights
- Two units: a 2‑bedroom, 1‑bath main‑level residence and a 3‑bedroom, 1‑bath upper‑level residence
- 1,709 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,970
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,400
$499.4K
Cap Rate 7%
$356,714
$356.7K
Cap Rate 9%
$277,444
$277.4K
Market Conditions
NOI Build-Up for 1,709 SF
Gross rent
$37.9K $22.20/SF
− Vacancy
−$2.3K −$1.33/SF
EGI
$35.7K $20.87/SF
− OpEx
−$10.7K −$6.26/SF
NOI
$25.0K $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 Rate 5%
$499,400
Cap Rate 7%
$356,714
Cap Rate 9%
$277,444
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.2K
NOI $24,970 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$327.6K
$286.7K – $382.2K
NOI $22,934 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$407.7K
$356.8K – $475.7K
NOI $28,541 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
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Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The two residences offer a two-bedroom layout downstairs and a three-bedroom layout upstairs, each with one bathroom.
Where is this duplex located?
The property is located at 2631 Girard Avenue N Minneapolis, MN.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two units: a 2‑bedroom, 1‑bath main‑level residence and a 3‑bedroom, 1‑bath upper‑level residence; 1,709 square feet; Built in 1900
