Two-Unit Side-by-Side
New
For Sale
$465,000
3010 Tyler Street NE, Minneapolis, MN 55418
Residential Income, Minneapolis, MN
Property Size2,510 SF
Lot Size0.12 Acres
Price / SF$185.26
Days on Market2
Property Features for 3010 Tyler Street NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 5, Laundry Room
Parking features
Garage - Detached
Patio and Porch features
Porch
Subdivision
Chute Bros 1st Add To City Of
High school district
Minneapolis
Directions
Central Ave to 30th St. East to Tyler, north to home
Standard status
Active
APN
0102924330222
Size
2,510 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7627
Utilities
Heating system
Forced Air
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka · Keller Williams Realty
Listed By:
Bethany Nelson
(952) 475-0111
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 1:06PM
MLS# 7144626
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 2,510-square-foot duplex, built in 1900 on a 0.12-acre lot, contains two side-by-side residences with separate entrances. The larger unit has three bedrooms and one bath; the second offers two bedrooms and one bath. Both include individual central air and private lower-level laundry and storage areas. Interior details include hardwood flooring, wide millwork, built-in cabinetry, stainless steel appliances, and updated bath finishes. A new roof is scheduled for installation in October. The property also includes a detached garage and a porch.
Audubon Park, with playgrounds, ball fields, and a splash pad, is nearby. Restaurants and coffee shops along Central Avenue are also close, with downtown Minneapolis a short trip away.
Audubon Park, with playgrounds, ball fields, and a splash pad, is nearby. Restaurants and coffee shops along Central Avenue are also close, with downtown Minneapolis a short trip away.
Key Highlights
- Two residences: one with 3 bedrooms and 1 bath, the other with 2 bedrooms and 1 bath
- 2,510 square feet on a 0.12‑acre lot; built in 1900
- Separate entrances, electric meters, and central air systems
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
$36,673
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
7.89%
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%
$733,460
$733.5K
Cap Rate 7%
$523,900
$523.9K
Cap Rate 9%
$407,478
$407.5K
Market Conditions
NOI Build-Up for 2,510 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
$55.7K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$52.4K $20.87/SF
− OpEx
−$15.7K −$6.26/SF
NOI
$36.7K $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%
$733,460
Cap Rate 7%
$523,900
Cap Rate 9%
$407,478
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.2K
NOI $36,673 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$481.2K
$421.0K – $561.4K
NOI $33,683 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$598.8K
$524.0K – $698.6K
NOI $41,918 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 55418, MN
31,887
Population
14,859
Households
2.1
Avg Household Size
37
Median Age
51%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
4,555
Density / Sq Mi
$95,630
Median Household Income
$56,491
Median Earnings
$1,349
Median Rent
$332,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own electric meter, central air system, and private entry.
Where is this duplex located?
The property is located at 3010 Tyler Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and 1 bath, the other with 2 bedrooms and 1 bath; 2,510 square feet on a 0.12‑acre lot; built in 1900; Separate entrances, electric meters, and central air systems
