Historic Duplex with Finished Third
New
For Sale
$412,000
2644 Garfield Avenue, Minneapolis, MN 55408
MULTI_FAMILY - Minneapolis, MN
Property Size2,553 SF
Lot Size0.12 Acres
Price / SF$161.38
Days on Market5
Property Features for 2644 Garfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 5
Parking features
Garage - Detached, Driveway
Exterior features
Stucco
Subdivision
Hoblitts Add
High school district
Minneapolis
Directions
24th to Garfield Ave, North to home on right.
Standard status
Active
APN
3402924320137
Size
2,553 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6007
Utilities
Heating system
Baseboard, Oil
Amenities
front porch
private deck
Building Details
Year built
1906
Roof type
Shingle
Listing Agency:
Gallery of Homes
(218) 587-4444
Listed By:
Daniel Pflugshaupt
(218) 839-7700
Added: Jul 27
Changed: Jul 31
Last Checked: Jul 31 at 5:06PM
MLS# 7116888
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 historic duplex at 2644 Garfield Avenue features a classic layout with distinct upper and lower units and additional finished living space on the third level. The upper unit offers three bedrooms and two baths. The lower unit offers two bedrooms and one bath. In total, the property includes three full bathrooms.
The home’s original character is complemented by modern updates, including updated kitchens while preserving original architectural details. Interior features highlighted in the offering include rich natural woodwork, an ornate staircase, stained glass windows, built-ins, and hardwood floors. Exterior features include stucco, and the roof is shingle.
Additional property improvements and operational details include baseboard oil heat. Parking is supported by a detached garage and driveway. Built in 1906, the property sits on a 0.12-acre lot.
The home’s original character is complemented by modern updates, including updated kitchens while preserving original architectural details. Interior features highlighted in the offering include rich natural woodwork, an ornate staircase, stained glass windows, built-ins, and hardwood floors. Exterior features include stucco, and the roof is shingle.
Additional property improvements and operational details include baseboard oil heat. Parking is supported by a detached garage and driveway. Built in 1906, the property sits on a 0.12-acre lot.
Key Highlights
- Duplex with upper unit (3 bedrooms, 2 baths) and lower unit (2 bedrooms, 1 bath)
- Finished third level for additional functional living space
- Stucco exterior with shingle roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.7k | $22.20 |
| − Vacancy | −$3.4k | −$1.33 |
| EGI | $53.3k | $20.87 |
| − OpEx | −$16.0k | −$6.26 |
| NOI | $37.3k | $14.61 |
2,553 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$532.9K
$466.3K – $621.7K
NOI $37,301 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$489.4K
$428.3K – $571.0K
NOI $34,261 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$609.1K
$533.0K – $710.6K
NOI $42,636 @ 7.0% cap · market cap 10.35%
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
3,773
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
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 - Historic Minneapolis duplex on a 0.12-acre lot with 3 total baths, detached garage parking, and a finished third level.
Where is this duplex located?
The property is located at 2644 Garfield Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $412,000.
What are key features of this property?
This property features: Duplex with upper unit (3 bedrooms, 2 baths) and lower unit (2 bedrooms, 1 bath); Finished third level for additional functional living space; Stucco exterior with shingle roof
