Two-Unit Duplex with Detached
For Sale
Contact for pricing
3010 Fremont Avenue N, Minneapolis, MN 55411
1905 duplex with one occupied unit, one vacant unit, updated plumbing, and a newer detached garage.
Property Size2,052 SF
Lot Size0.13 Acres
Days on Market69
Property Features for 3010 Fremont Avenue N
General Information
Standard status
Active
Size
2,052 SF
Lot size
0.13 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Additional Details
Gross Income
$10,800
Road Access
Yes
Building Details
Year Built
1905
Buildings
1
Construction
stucco
Listing Agency:
Dane Arthur Real Estate Agency
Listed By:
Eric Eickhof
(952) 472-6200
Source:
Fultonrealty
Added: Aug 12
Changed: Oct 16
Last Checked: Oct 16 at 8:30AM
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 Dane Arthur Real Estate Agency
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Investment Insights
Based on property information with market context.
This two-unit residential property includes a two-bedroom upper apartment and a one-bedroom main-floor apartment. The upper unit is occupied, while the main-floor unit is vacant and may be used by an owner-occupant or leased to a new tenant. The 2,052-square-foot building was constructed in 1905 and has a stucco exterior, PEX plumbing, six newer vinyl windows, and a furnace replaced approximately 9 months ago.
The property sits on an approximately 45' x 127' lot and includes a newer detached garage with a concrete apron. It is classified as a non-homestead residential two-unit property. A completed Truth-in-Housing inspection identifies repair items that will be the buyer’s responsibility after closing, making review of the inspection report an important part of due diligence.
The property sits on an approximately 45' x 127' lot and includes a newer detached garage with a concrete apron. It is classified as a non-homestead residential two-unit property. A completed Truth-in-Housing inspection identifies repair items that will be the buyer’s responsibility after closing, making review of the inspection report an important part of due diligence.
Key Highlights
- Two‑unit duplex with 2,052 square feet of building area
- Upper unit has 2 bedrooms and is currently tenant occupied
- Main‑floor unit has 1 bedroom and is currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,537
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,740
$550.7K
Cap Rate 7%
$393,386
$393.4K
Cap Rate 9%
$305,967
$306.0K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$53.4K $26.04/SF
− Vacancy
−$3.4K −$1.64/SF
EGI
$50.1K $24.40/SF
− OpEx
−$22.5K −$10.98/SF
NOI
$27.5K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$550,740
Cap Rate 7%
$393,386
Cap Rate 9%
$305,967
Alternative Uses
Best Use
Multifamily LT 5
$428.3K
$374.8K – $499.7K
NOI $29,981 @ 7.0% cap · market cap 1,499,050.00%
Second Best
Apartment 5plus
$393.4K
$344.2K – $459.0K
NOI $27,537 @ 7.0% cap · market cap 1,376,850.00%
Theoretical Best
Office A
$489.6K
$428.4K – $571.2K
NOI $34,270 @ 7.0% cap · market cap 1,713,500.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - 1905 duplex with one occupied unit, one vacant unit, updated plumbing, and a newer detached garage.
Where is this duplex located?
The property is located at 3010 Fremont Avenue N Minneapolis, MN.
What are key features of this property?
This property features: Two‑unit duplex with 2,052 square feet of building area; Upper unit has 2 bedrooms and is currently tenant occupied; Main‑floor unit has 1 bedroom and is currently vacant
