Duplex with In-Unit
For Sale
$269,900
3023 Dupont Ave N, Minneapolis, MN 55411
Two-unit property with stainless steel appliances, garage space, and off-street parking.
Property Size1,675 SF
Price / SF$161.13
Days on Market17
Property Features for 3023 Dupont Ave N
General Information
Standard status
Active
Size
1,675 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,922
Amenities
stainless steel appliances
in-unit laundry
Building Details
Buildings
1
Listing Agency:
Housing Hub LLC
(651) 239-2543
Listed By:
Joe Collins
(651) 239-2543
Source:
Exprealty
Added: Jul 27
Changed: Aug 11
Last Checked: Aug 11 at 5:28AM
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 Housing Hub LLC
Investment Insights
Based on property information with market context.
This 1,675-square-foot duplex includes a lower residence that is ready for occupancy, with stainless steel appliances and a private laundry setup. Garage space and off-street parking add practical convenience for residents. The upper residence provides a separate unit within the property and may support additional rental income. The property is located at 3023 Dupont Ave N in Minneapolis, Minnesota.
Key Highlights
- 1,675‑square‑foot duplex at 3023 Dupont Ave N, Minneapolis, MN
- Lower unit is move‑in ready
- Stainless steel appliances in the lower unit
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
$24,473
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
9.07%
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%
$489,460
$489.5K
Cap Rate 7%
$349,614
$349.6K
Cap Rate 9%
$271,922
$271.9K
Market Conditions
NOI Build-Up for 1,675 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
$37.2K $22.20/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$35.0K $20.87/SF
− OpEx
−$10.5K −$6.26/SF
NOI
$24.5K $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%
$489,460
Cap Rate 7%
$349,614
Cap Rate 9%
$271,922
Alternative Uses
Best Use
Multifamily LT 5
$349.6K
$305.9K – $407.9K
NOI $24,473 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$399.6K
$349.7K – $466.2K
NOI $27,973 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with stainless steel appliances, garage space, and off-street parking.
Where is this duplex located?
The property is located at 3023 Dupont Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,675‑square‑foot duplex at 3023 Dupont Ave N, Minneapolis, MN; Lower unit is move‑in ready; Stainless steel appliances in the lower unit
