Fenced-Lot
New
For Sale
$384,900
2745 29th Avenue S, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size2,070 SF
Lot Size0.17 Acres
Price / SF$185.94
Days on Market6
Property Features for 2745 29th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Subdivision
South Side Add
Lot features
Corner Lot
High school district
Minneapolis
Directions
Lake St to 29th Ave So, North to property on NE corner.
Standard status
Active
APN
3602924410072
Size
2,070 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6257
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Tenzin Sopa · License #40629957
(612) 600-6000
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 2:06PM
MLS# 7153629
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 2,070-square-foot duplex has an upper unit and a lower unit, each with two bedrooms and one full bath. Nearly all windows have been replaced, and the upper unit has a new furnace. The electrical panels have also been replaced, and each unit has separate utilities. Additional space is located downstairs.
The 1900-built property sits on a fenced 0.17-acre corner lot.
The 1900-built property sits on a fenced 0.17-acre corner lot.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 2,070 square feet of building area
- 0.17‑acre fenced corner lot
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
Lease Details
2
Residential units
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
Check the figures for this property
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 - Separate utilities and updated electrical panels serve the two units.
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 units, each with 2 bedrooms and 1 full bath; 2,070 square feet of building area; 0.17‑acre fenced corner lot
