Duplex with Separate
New
For Sale
$384,900
2745 29th Ave S, Minneapolis, MN 55406
An upper-and-lower arrangement provides two-bedroom units with distinct utility service.
Property Size2,070 SF
Price / SF$185.94
Days on Market3
Property Features for 2745 29th Ave S
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Real Broker, LLC
Listed By:
Tenzin Sopa · License #40629957
(763) 267-5574
Source:
Agoodlifegroup
Added: Oct 4
Last Checked: Oct 5 at 11:11PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2,070-SF duplex has an upper unit and a lower unit, each with two bedrooms and one full bathroom. The property includes separate utilities, updated electrical panels, and nearly all new windows. A new furnace serves the upper unit, and additional space is available downstairs.
The building sits on a fenced corner lot in Minneapolis’s Longfellow neighborhood and was built in 1900.
The building sits on a fenced corner lot in Minneapolis’s Longfellow neighborhood and was built in 1900.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 2,070 SF duplex built in 1900
- Separate utilities for the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,825
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,500
$536.5K
Cap Rate 7%
$383,214
$383.2K
Cap Rate 9%
$298,056
$298.1K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$41.0K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$38.3K $18.51/SF
− OpEx
−$11.5K −$5.55/SF
NOI
$26.8K $12.96/SF
Area
ZIP 55406
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,500
Cap Rate 7%
$383,214
Cap Rate 9%
$298,056
Alternative Uses
Best Use
Multifamily LT 5
$383.2K
$335.3K – $447.1K
NOI $26,825 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$356.7K
$312.1K – $416.1K
NOI $24,967 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$604.9K
$529.3K – $705.7K
NOI $42,340 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,286
Businesses Nearby
Explore this area
Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - An upper-and-lower arrangement provides two-bedroom units with distinct utility service.
Where is this duplex located?
The property is located at 2745 29th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; 2,070 SF duplex built in 1900; Separate utilities for the units
