Occupied Duplex with 3-Car
For Sale
$389,000
2720 Grand Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size1,816 SF
Lot Size0.12 Acres
Price / SF$214.21
Days on Market44
Property Features for 2720 Grand Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Laundry Room, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Basement
Parking features
Garage - Detached
Fencing
Privacy
Subdivision
Menages 3rd Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
From Lyndale Ave South, go west on 27th to Grand Ave and take a left. The property is on the west side of the street.
Standard status
Active
APN
3402924320178
Size
1,816 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6444
Utilities
Heating system
Gravity, Forced Air
Amenities
backyard
Building Details
Year built
1900
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Heather Mylin · License #40677468
(612) 867-7541
Added: Aug 19
Changed: Oct 1
Last Checked: Oct 1 at 1:06PM
MLS# 7121209
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 duplex at 2720 Grand Avenue S in Minneapolis contains 1,816 square feet with four bedrooms, two bathrooms, a basement, and a laundry room. Built in 1900, the property uses gravity and forced-air heating and includes a detached three-car garage. Privacy fencing encloses the backyard, adding a separate outdoor area for residents.
The property occupies a 0.1169-acre parcel in the Whittier neighborhood, with local businesses, cafes, and dining within walking distance. Both units are fully occupied. Showings require at least 24 hours’ notice, and Sunday appointments are not available.
The property occupies a 0.1169-acre parcel in the Whittier neighborhood, with local businesses, cafes, and dining within walking distance. Both units are fully occupied. Showings require at least 24 hours’ notice, and Sunday appointments are not available.
Key Highlights
- Fully occupied duplex with 1,816 square feet
- Four bedrooms, two bathrooms, basement, and laundry room
- Detached 3‑car garage with parking and storage capacity
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
$26,533
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
6.82%
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%
$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
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
$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 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%
$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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a fenced backyard, detached parking, and full occupancy.
Where is this duplex located?
The property is located at 2720 Grand Avenue 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: Fully occupied duplex with 1,816 square feet; Four bedrooms, two bathrooms, basement, and laundry room; Detached 3‑car garage with parking and storage capacity
