Two-Unit Duplex with Separate
2745 29th Avenue S, Minneapolis, MN 55406
For Sale
$384,900
Both residences have two bedrooms and one full bathroom, with additional space on the lower level.
Property Size2,790 SF
Price / SF$137.96
Days on Market40
Property Features for 2745 29th Avenue S
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Tenzin Sopa · License MN #40629957
(763) 267-5574
Source:
Homecrownrealty
Added: Oct 3
Changed: Nov 10
Last Checked: Nov 10 at 2:41PM
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
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Investment Insights
Based on property information with market context.
This Minneapolis duplex has an upper residence and a lower residence, each configured with two bedrooms and one full bathroom. The lower level also includes additional space. Separate utilities serve the units, and the property has updated electrical panels, replacement windows across most of the building, and a recently installed furnace for the upper residence. Built in 1900, the building sits on a fenced corner lot in the Longfellow neighborhood at 2745 29th Avenue S.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- Separate utilities for the upper and lower units
- Most windows have been replaced; electrical panels updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,651
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,020
$673.0K
Cap Rate 7%
$480,729
$480.7K
Cap Rate 9%
$373,900
$373.9K
Market Conditions
NOI Build-Up for 2,790 SF
Gross rent
$65.0K $23.28/SF
− Vacancy
−$3.8K −$1.35/SF
EGI
$61.2K $21.93/SF
− OpEx
−$27.5K −$9.87/SF
NOI
$33.7K $12.06/SF
Area
ZIP 55406
Vacancy
5.80%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$673,020
Cap Rate 7%
$480,729
Cap Rate 9%
$373,900
Alternative Uses
Best Use
Multifamily LT 5
$516.5K
$452.0K – $602.6K
NOI $36,156 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$480.7K
$420.6K – $560.9K
NOI $33,651 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$815.3K
$713.4K – $951.1K
NOI $57,068 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,286
Businesses Nearby
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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
$335,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and one full bathroom, with additional space on the lower level.
Where is this duplex located?
The property is located at 2745 29th Avenue 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 residences, each with 2 bedrooms and 1 full bathroom; Separate utilities for the upper and lower units; Most windows have been replaced; electrical panels updated
