Two-Unit
For Sale
$325,000
2723 Dupont Ave N, Minneapolis, MN 55411
Each level provides three bedrooms and one bathroom within a separate residential layout.
Property Size1,970 SF
Price / SF$164.97
Days on Market43
Property Features for 2723 Dupont Ave N
General Information
Standard status
Active
Size
1,970 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1907
Listing Agency:
Elevate Realty LLC
(320) 221-3083
Listed By:
Weishalla Homes Team
Source:
Homesminn
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 8:11PM
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 Elevate Realty LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,970 square feet and was built in 1907. Each level includes three bedrooms, one bathroom, and its own living space, creating a clearly separated residential configuration within the building. The property offers a practical setup for occupants seeking distinct units in one structure.
Located at 2723 Dupont Ave N in Minneapolis, the duplex is near parks, schools, and public transportation. The address places the property within an established North Minneapolis setting with access to everyday community amenities and transit options.
Located at 2723 Dupont Ave N in Minneapolis, the duplex is near parks, schools, and public transportation. The address places the property within an established North Minneapolis setting with access to everyday community amenities and transit options.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1 bath on each level
- 1,970 square feet of total property size
- Built in 1907
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
$28,783
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
8.86%
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%
$575,660
$575.7K
Cap Rate 7%
$411,186
$411.2K
Cap Rate 9%
$319,811
$319.8K
Market Conditions
NOI Build-Up for 1,970 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
$43.7K $22.20/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$41.1K $20.87/SF
− OpEx
−$12.3K −$6.26/SF
NOI
$28.8K $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%
$575,660
Cap Rate 7%
$411,186
Cap Rate 9%
$319,811
Alternative Uses
Best Use
Multifamily LT 5
$411.2K
$359.8K – $479.7K
NOI $28,783 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$470.0K
$411.3K – $548.3K
NOI $32,900 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
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
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 - Each level provides three bedrooms and one bathroom within a separate residential layout.
Where is this duplex located?
The property is located at 2723 Dupont Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1 bath on each level; 1,970 square feet of total property size; Built in 1907
