Character-Rich Quadplex with
For Sale
$674,900
2720 Dupont Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size4,000 SF
Lot Size0.12 Acres
Price / SF$168.73
Days on Market141
Property Features for 2720 Dupont Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Basement, Bedroom 2, Bathroom 4, Laundry Room, Bathroom 3, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 6, Bedroom 3, Bedroom 8, Bedroom 4, Bedroom 5
Parking features
Driveway
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
Minneapolis
Directions
From Lake Street or Lagoon travel North on Dupont Ave. The property will be on your left.
Standard status
Active
APN
3302924420072
Size
4,000 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12469
Utilities
Heating system
Oil
Amenities
shared laundry
storage
Building Details
Year built
1905
Roof type
Flat
Listing Agency:
Verde Real Estate Group
(612) 808-6600
Listed By:
Reid Lenz
(612) 600-8888
Added: May 18
Changed: Sep 24
Last Checked: Oct 5 at 10:06AM
MLS# 7076234
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 4,000-square-foot quadplex, built in 1905, contains four two-bedroom, one-bath units of approximately 1,000 square feet each. Interior features include hardwood floors, built-in buffets, updated kitchens, stainless steel appliances, and cosmetic improvements completed within the last 5–8 years. Recent property work includes new windows and water heaters. A clean basement provides shared laundry and storage, while the flat roof and oil heating serve the building.
The property sits at 2720 Dupont Avenue S in Minneapolis’ Lowry Hill area, on a 0.12-acre parcel with a paved rear parking lot and driveway parking. Lake of the Isles, Bde Maka Ska, bike trails, downtown, nightlife, and shopping are identified as nearby destinations. Separate utilities are in place, and at least one unit is expected to be available for occupancy after closing.
The property sits at 2720 Dupont Avenue S in Minneapolis’ Lowry Hill area, on a 0.12-acre parcel with a paved rear parking lot and driveway parking. Lake of the Isles, Bde Maka Ska, bike trails, downtown, nightlife, and shopping are identified as nearby destinations. Separate utilities are in place, and at least one unit is expected to be available for occupancy after closing.
Key Highlights
- Four 2‑bedroom, 1‑bath units, each approximately 1,000 square feet
- 4,000‑square‑foot quadplex on a 0.12‑acre lot
- 1905 construction with hardwood floors and built‑in buffets
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
$58,443
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
8.66%
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%
$1,168,860
$1.2M
Cap Rate 7%
$834,900
$834.9K
Cap Rate 9%
$649,367
$649.4K
Market Conditions
NOI Build-Up for 4,000 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
$88.8K $22.20/SF
− Vacancy
−$5.3K −$1.33/SF
EGI
$83.5K $20.87/SF
− OpEx
−$25.0K −$6.26/SF
NOI
$58.4K $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%
$1,168,860
Cap Rate 7%
$834,900
Cap Rate 9%
$649,367
Alternative Uses
Best Use
Multifamily LT 5
$834.9K
$730.5K – $974.1K
NOI $58,443 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$766.8K
$671.0K – $894.7K
NOI $53,679 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$954.3K
$835.0K – $1.11M
NOI $66,802 @ 7.0% cap · market cap 9.90%
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
3,230
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom units feature updated kitchens, shared laundry, storage, and off-street parking.
Where is this quadplex located?
The property is located at 2720 Dupont Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units, each approximately 1,000 square feet; 4,000‑square‑foot quadplex on a 0.12‑acre lot; 1905 construction with hardwood floors and built‑in buffets
