Duplex with Private
For Sale
$389,000
2720 Grand Ave S, Minneapolis, MN 55408
Both residences are occupied, with a shared backyard and garage providing useful on-site amenities.
Property Size1,816 SF
Price / SF$214.21
Days on Market8
Property Features for 2720 Grand Ave S
General Information
Standard status
Active
Size
1,816 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
backyard
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Heather Mylin · License #40677468
(612) 867-7541
Source:
Thehomeadvantagegroup
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 11:00AM
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
Investment Insights
Based on property information with market context.
This duplex was built in 1900 and has a reported property size of 1,816. Both residences are occupied. A garage with capacity for three cars and a backyard serve as shared property features.
The property is at 2720 Grand Ave S in Minneapolis, within walking distance of neighborhood businesses, cafes, and restaurants.
The property is at 2720 Grand Ave S in Minneapolis, within walking distance of neighborhood businesses, cafes, and restaurants.
Key Highlights
- Two‑unit duplex with both residences occupied
- Garage accommodates 3 cars
- Reported property size: 1,816
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,533
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,660
$530.7K
Cap Rate 7%
$379,043
$379.0K
Cap Rate 9%
$294,811
$294.8K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$40.3K $22.20/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$37.9K $20.87/SF
− OpEx
−$11.4K −$6.26/SF
NOI
$26.5K $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%
$530,660
Cap Rate 7%
$379,043
Cap Rate 9%
$294,811
Alternative Uses
Best Use
Multifamily LT 5
$379.0K
$331.7K – $442.2K
NOI $26,533 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$348.1K
$304.6K – $406.2K
NOI $24,370 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$433.3K
$379.1K – $505.5K
NOI $30,328 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with a shared backyard and garage providing useful on-site amenities.
Where is this duplex located?
The property is located at 2720 Grand Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences occupied; Garage accommodates 3 cars; Reported property size: 1,816
