Light-Filled Duplex With
For Sale
$450,000
3045 Bryant Ave S, Minneapolis, MN 55408
Two-unit property offers wood floors, stainless steel appliances, parking, and private outdoor space.
Property Size2,292 SF
Price / SF$196.34
Days on Market13
Property Features for 3045 Bryant Ave S
General Information
Standard status
Active
Size
2,292 SF
Total Parking Spaces
6
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,123
Amenities
central AC
wood floors
stainless steel appliances
shared rear entrance
storage
porch/sitting room
third floor flex space
unfinished attic
fenced patio
planting beds
shared laundry
finished flex space with sound studio
Building Details
Buildings
1
Listing Agency:
Edina Realty, Inc.
(612) 741-3085
Listed By:
Joshua Drivdahl
(612) 741-3085
Source:
Exprealty
Added: Jul 31
Changed: Aug 7
Last Checked: Aug 11 at 1:09PM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This 2,292-square-foot duplex includes two residential units with distinct living areas and shared access to the basement and upper levels. The main floor has central AC, wood flooring, abundant natural light, and a kitchen equipped with stainless steel appliances. The second unit includes a porch or sitting room, third-floor flex space, and an unfinished attic with expansion potential. Shared basement amenities include laundry and a finished flex area with a sound studio.
The property also provides 3 oversized garage spaces, 3 private surface parking spots, and a fenced patio enclosed by planting beds. Located at 3045 Bryant Ave S in Minneapolis, the property is across from Bryant Square Park and near the Bryant Ave bike trail. Coffee shops, restaurants, and retail are within walking distance, while Bde Mka Ska, Lake Harriet, the Rose Garden, and Lake of the Isles are minutes away.
The property also provides 3 oversized garage spaces, 3 private surface parking spots, and a fenced patio enclosed by planting beds. Located at 3045 Bryant Ave S in Minneapolis, the property is across from Bryant Square Park and near the Bryant Ave bike trail. Coffee shops, restaurants, and retail are within walking distance, while Bde Mka Ska, Lake Harriet, the Rose Garden, and Lake of the Isles are minutes away.
Key Highlights
- 2,292‑square‑foot duplex with two residential units
- 3 oversized garage spaces plus 3 private surface parking spots
- Main‑floor central AC, wood floors, and stainless steel appliances
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
$33,488
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
7.44%
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%
$669,760
$669.8K
Cap Rate 7%
$478,400
$478.4K
Cap Rate 9%
$372,089
$372.1K
Market Conditions
NOI Build-Up for 2,292 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
$50.9K $22.20/SF
− Vacancy
−$3.0K −$1.33/SF
EGI
$47.8K $20.87/SF
− OpEx
−$14.4K −$6.26/SF
NOI
$33.5K $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%
$669,760
Cap Rate 7%
$478,400
Cap Rate 9%
$372,089
Alternative Uses
Best Use
Multifamily LT 5
$478.4K
$418.6K – $558.1K
NOI $33,488 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,758 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$546.8K
$478.5K – $638.0K
NOI $38,278 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
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 - Two-unit property offers wood floors, stainless steel appliances, parking, and private outdoor space.
Where is this duplex located?
The property is located at 3045 Bryant Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,292‑square‑foot duplex with two residential units; 3 oversized garage spaces plus 3 private surface parking spots; Main‑floor central AC, wood floors, and stainless steel appliances
